Global Life Science Products Market, By Product (Recombinant Proteins (Immune Checkpoint Regulators, Chemokines, Growth Factors, Cytokines, Colony Stimulating Factors, Hormones, Enzymes & Inhibitors, Others), Cell Lines (Immunotherapy Cell Lines, Ion Channel Cell Lines, GPCR Cell Lines, Cell Signaling Pathway Cell Lines, Gene Knockout Cell Lines, Cancer Cell Lines, Others), Antibodies (Immune Checkpoint Antibodies, Epitope Tag Antibodies, Isotype Control Antibodies (Research Use, In-vivo Grade), Primary Antibodies (Research Use, In-vivo Grade), Assay Antibodies (includes secondary antibodies), Others(Viable Tumor Samples, Tumor Tissue Microarrays)), By Application (Drug Discovery & Development, Basic Research, Toxicity Screening, Biopharmaceutical Production, Drug Screening, Tissue Engineering, Forensic Testing), By End User (Biopharmaceutical Companies, Contract Research Organizations (CROs), Academic & Research Institutes, Forensic Science Laboratories, Food & Beverage Companies, Diagnostic Centers, Others), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) is estimated to be valued at US$ 3,178.1 Million in 2023 and is expected to exhibit a CAGR of 10.6% during the forecast period (2023-2030), as highlighted in a new report published by Coherent Market Insights.
An increase in research and development activities by the key players in the market is expected to drive the growth of the market over the forecast period. For instance, in February 2020, Gencurix, Inc., a biotech company, initiated a clinical trial titled “A Prospective, Randomized, Comparative Study to Evaluate Efficacy of Anticancer Chemotherapy in Predicting Prognosis and Determining Chemotherapy Method in Early Hormone Receptor-positive Breast Cancer Patients with Clinicopathological High Risk and GenesWell BCT Low Risk at Multi-center in Korea”. The study is estimated to get completed in January 2029.
Global Life Science Products Market– Impact of Coronavirus (COVID-19) Pandemic
The COVID-19 pandemic and lockdowns in various countries across the globe have impacted the financial status of businesses across all sectors, including the private healthcare sector. The COVID-19 pandemic has impacted the entire supply chain of the healthcare industry, mainly due to strict lockdowns in several regions. Private healthcare is one such sector that has been impacted significantly by the COVID-19 pandemic.
Pandemic has a positive impact on life science companies. According to data published in January 2022, on Dow Jones & Company, Inc., provider of business news and information service, stated that while COVID-19 introduced many global challenges in the life sciences industry, it also accelerated scientific and regulatory collaborations and innovations. Collaborations between regulators and life sciences companies reached unprecedented levels, aiding the development of products and accelerating their introduction to the market. The urgent need to develop treatments, vaccines, diagnostics, and medical devices, along with adjustments to related regulations, led many competitors in the life sciences sector to cooperate in developing solutions to scientific problems.
Global Life Science Products Market: Key Developments
In August 2022, Absolute Antibody Ltd., a provider of recombinant antibody products and services, announced the opening of a new facility in the U.K. The increased laboratory space includes a major investment in new automation for Next Generation Sequencing (NGS), expression, and purification (HPLC) to enhance recombinant antibody production workflows.
In September 2022, AbCellera, a pharmaceutical company, announced that it has launched the second phase of its global headquarters expansion by breaking ground on its new facility in Vancouver, Canada.
In February 2021, Dyadic International, Inc., a global biotechnology company, announced a collaboration with TurtleTree Scientific, a biotechnology company, to develop a number of recombinant protein growth factors which can be manufactured at high yields and low cost in bioreactors. Growth factors can play a critical role in tissue development and healing, including regenerative therapies, among other emerging biological processes and products.
In December 2020, Advanced Enzyme, a research-driven company manufacturing enzymes and probiotics, announced the acquisition of SciTech Specialities, a pharmaceutical company. The acquisition will help Advanced Enzyme to expand its business-to-consumer segments. It will also provide Advanced Enzyme with important applications in three of its existing verticals, human health, animal nutrition, and food while providing new delivery systems for existing products.
Browse 25 Market Data Tables and 27 Figures spread through 170 Pages and in-depth TOC on “Global Life Science Products Market”- Forecast to 2030, By Product (Recombinant Proteins (Immune Checkpoint Regulators, Chemokines, Growth Factors, Cytokines, Colony Stimulating Factors, Hormones, Enzymes & Inhibitors, Others), Cell Lines (Immunotherapy Cell Lines, Ion Channel Cell Lines, GPCR Cell Lines, Cell Signaling Pathway Cell Lines, Gene Knockout Cell Lines, Cancer Cell Lines, Others), Antibodies (Immune Checkpoint Antibodies, Epitope Tag Antibodies, Isotype Control Antibodies (Research Use, In-vivo Grade), Primary Antibodies (Research Use, In-vivo Grade), Assay Antibodies (includes secondary antibodies), Others(Viable Tumor Samples, Tumor Tissue Microarrays)), By Application (Drug Discovery & Development, Basic Research, Toxicity Screening, Biopharmaceutical Production, Drug Screening, Tissue Engineering, Forensic Testing), By End User (Biopharmaceutical Companies, Contract Research Organizations (CROs), Academic & Research Institutes, Forensic Science Laboratories, Food & Beverage Companies, Diagnostic Centers, Others), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa)
To know the latest trends and insights prevalent in this market, click the link below:
https://www.coherentmarketinsights.com/market-insight/life-science-products-market-3652
Key Takeaways of the Global Life Science Products Market:
- The global life science products is expected to exhibit a CAGR of 10.6% during the forecast period owing to an increase in the adoption of various strategies such as investments and acquisitions to get the exclusive rights of technology, and platforms for recombinant protein production by the key players in the market. For instance, in June 2021, Vectron Biosolutions AS, a company developing and marketing vector technologies for the biotechnology and life science industries, announced that it had raised US$ 2.7 million in a Series A financing round led by Dynamk Capital along with the acquisition of a bacterial secretion platform from Utah, U.S. based T3S TECHNOLOGIES, INC., a biotechnology company. The acquisition of T3S Technologies’ secretion platform combined with Vectron’s core expression technology and additional financing will significantly help Vectron to reduce costs associated with the production of recombinant proteins or solutions to advance their challenging proteins to the market.
- Among product type, the recombinant proteins segment is estimated to hold a dominant position in the global life science products over the forecast period, due to an increase in the product launches by the key market players. For instance, in September 2022, Creative Enzymes, a company providing a variety of medical enzymes and industrial enzymes, announced the launch of Kex2 Protease from Saccharomyces cerevisiae, recombinant, for the cleavage of secreted peptides in yeast exogenous protein expression. Kex2 is a recombinant protease expressed by genetic engineering technology and is a calcium-dependent protein hydrolase that can specifically recognize and cleave the C terminal peptide bond of Arg-Arg, Lys-Arg.
- On the basis of application, drug discovery & development segment is estimated to hold a dominant position in the global life science products over the forecast period, due to an increase in the adoption of inorganic growth strategies such as collaboration by the key players in the market. For instance, in March 2020, Existencia, an AI-based drug discovery company, entered a collaborative agreement with Diamond Light Source and Scripps Research to identify COVID-19 antiviral therapies.
- Major players operating in the global life science products market include Abcam Plc, A.M.S. Biotechnology (Europe) Limited, Bio-Rad Laboratories Inc., BPS Bioscience Inc, Crown Bioscience Inc., Genscript Biotech Corporation, Merck Millipore Limited, PerkinElmer Inc, Sigma Aldrich Corp, Thermo Fisher Scientific Inc., Danaher Corporation, Amgen Inc, Lantern Pharma Inc.
