Life sciences and analytical reagents market to reach USD 4.78B

Life science reagent is a compound that is often used in a chemical reaction to observe changes and draw out inferences. These reagents are rigorously used to develop a new reactant or determine the cause of an illness or a disease. In addition, they are used in chemical reactions to detect, examine, or measure other substances.

The key objective of the market insight report is to offer a complete assessment of the global market including major leading stakeholders of the Life Sciences and Analytical Reagents Market The current and historical status of the market together with forecasted market size and trends are demonstrated in the assessment in simple manner. In addition, the report delivers data on the volume, share, revenue, production, and sales in the market. The report is the end-product of a study performed using different methodologies including the PESTEL, PORTER, and SWOT analysis. The study with the help of these models shed light on the key financial considerations that players in the Life Sciences and Analytical Reagents market need to focus on identifying competition and formulate their marketing strategies for both consumer and industrial markets. The report leverages a wide spectrum of research methods including surveys, interviews, and social media listening to analyse consumer behaviours in its entirety.

The global life science and analytical reagents market is expected to grow at 7.89 % CAGR from 2024 to 2030. It is expected to reach above USD 4.78 billion by 2030 from USD 3.51 billion in 2023.

Key market trends
The diagnostic laboratories & hospitals segment is anticipated to hold a major share of the life science reagents market, as the adoption rate for life science reagents has increased in these institutions over the years. The increased adoption rate is attributable to the safety and efficacy of life science reagents.

Dominating region:
North America is expected to hold a major market share in the global life science reagents market due to the rise in the geriatric population, increasing prevalence, and higher incidence of infectious diseases in this region. According to a July 2022 update by the Centers for Disease Control and Prevention, around six in ten Americans are living with at least one chronic disease, and four in ten adults have two or more chronic diseases. Exactitude Consultancy