Asia Pacific Life Science Products Market by Product Types (Recombinant Proteins {Immune Checkpoint Regulators, Chemokines, Growth Factors, Cytokines, Colony Stimulating Factors, Hormones, Enzymes and Inhibitors, and 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, and Others}, Antibodies {Immune Checkpoint Antibodies, Epitope Tag Antibodies, Isotype Control Antibodies, Primary Antibodies, Assay Antibodies, and Others} Tumor Tissue Microarrays, and Viable Tumor Samples), By Applications (Basic Research, Drug Discovery and Development Toxicity Screening, Biopharmaceutical Production, Drug Screening, Tissue Engineering, and Forensic Testing), By End-users (Contract Research Organizations (CROs), Biopharmaceutical Companies Academic & Research Institutes, Forensic Science Laboratories, Food & Beverage Companies, Diagnostic Centers, and Others), and By Asia Pacific Countries (China, Japan, South

Market Outlook:

The Asia Pacific life science products market was valued at USD 1,702.8 Million in 2019 and is anticipated to reach USD 2,584.9 million by 2027, expanding at a CAGR of 6.4% during the forecast period. Life science is a branch of study that examines living things on the Earth. This field includes animals, plants, single-celled organisms, viruses & bacteria, and even cells. The life science industry comprises of companies operating in fields such as biotechnology, pharmaceuticals, biomedical technologies, nutraceuticals, medical devices, food processing, and cosmeceuticals. Factors such as rise in the number of chronic diseases and increase in support from governments are expected to drive the market in the region.

Market Dynamics

Factors such as increasing supportive initiatives for healthcare R&D activities, increasing adoption of advanced technology, and shift of healthcare from volume-based to value-based are expected to drive the market in the forecast period. However, high cost of R&D and implementation of stringent regulations in the life science products sector are expected to restrain the market to a certain extent during the forecast period.

Over the past few decades, countries in the Asia Pacific region have been investing heavily in life science products. Governments in this region have started to take actions to encourage the growth of biotechnology, biomedical devices, pharmaceutical, and nutraceuticals industries. Governments support these industries by giving tax benefits for R&D programs, increasing their budgets and funding, and establishing public-private partnerships. On 23rd of September 2018, India launched Ayushman Bharat PM-JAY, which offers healthcare coverage up to INR 5 lakh per family to 10 crore families. This is expected to boost the healthcare market in India. China has undertaken the goal of providing its residents with accessible and reliable healthcare by encouraging the growth of the domestic life sciences industry. China is focusing on lowering prescription costs, speeding up the regulatory process for new medicines, and increasing support for research and development.

The regulatory environment of the life sciences industry is complex in Asia Pacific. Over the past few years, this industry has experienced a bunch of regulatory changes with the aim of improving processes and increasing transparency. However, pursuing this goal of regulatory outlook and improving patient conditions necessitates regulators, reliable systems and processes, new expertise and abilities, and efficient new generation technologies. Various regulatory bodies regulate the medical devices industry across different countries in Asia Pacific. These bodies have set various regulations to maintain high-quality standards, safety, and efficiency of medical devices while manufacturing life science products. Rapid advancement of research and technology is driving the need for new regulatory mechanisms and transparency on how these changes affect relationships with regulators and industry, patients, and other stakeholders.

The life sciences industry is one of the most revolutionary industries in the world, which contributes significantly to both international and domestic research and growth. Rising healthcare spending is fueled by increasing research and technical advancements in medical therapies. Investors are driven by rising demand from ageing population to combat chronic and infectious diseases. Life science products are expected to gain popularity in the coming years

Segmental Outlook

By Product Types

In terms of product types, the life science products market is segmented recombinant proteins, cell lines, antibodies, viable tumor samples, and tumor tissue microarrays. The recombinant protein segment accounted for significant market share in 2020. This growth may be attributed to the increasing government investments and R&D expenditure in biotechnology & pharmaceutical companies, increasing industry-academia collaborations, and the patent expiry of biologics. The cell lines segment is anticipated to expand at an exponential CAGR during the forecast period. This growth may be attributed to the wide range of application in research pertaining to cell biology, biochemistry, drug discovery, cancer diagnostics, and molecular biology.

By Applications

On the basis applications, the life science products market is segmented into drug discovery and development, basic research, toxicity screening, biopharmaceutical production, drug screening, tissue engineering, and forensic testing. The drug discovery and development segment growth can be attributed to the increasing demand for advanced drugs and therapeutics for the treatment of cancer, neurological diseases, immunological diseases, cardiovascular diseases, and others, which include endocrinology, metabolic, and genetic diseases. The biopharmaceutical production segment is anticipated to expand at a significant CAGR during the forecast period. Increasing strategic collaborations among biopharmaceuticals companies and rising prevalence of chronic diseases such as cancer are some of the factors attributed to the growth of the segment.

By End-users

Based on end-users, the life science products market is categorized as biopharmaceutical companies, contract research organizations (CROs), academic & research institutes, forensic science laboratories, food & beverage companies, diagnostic centers, and others. The CROs segment is anticipated to account for a significant share of the market during the forecast period due to rising cost of drug development and clinical trials. Moreover, increasing pressure on market participants to follow stringent timelines has amplified the demand for outsourcing research activities to CROs. The biopharmaceutical company segment is anticipated to expand at a substantial CAGR during the forecast period. This growth can be attributed to technological advancements and product innovations. Furthermore, increasing investments in research for the development of drugs is expected to boost the segment.

Country Wise Outlook

On the basis of countries, the market is categorized as China, Japan, South Korea, India, Australia, South East Asia (SEA), and Rest of Asia Pacific. The market in Asia Pacific is estimated to expand at a significant CAGR during the forecast period, due to increasing drug discovery and development activities in countries such as China, Japan, and India. For instance, according to a recently published news article by the Applied Clinical Trials in September 2019, health care providers in China provide treatment to around four million cancer patients on an annual basis, representing 52% of liver cancer patients, 44% of stomach cancer patients, and 37% of lung cancer patients across the globe. This, in turn, is expected to increase the drug discovery activities thereby, fueling the demand for life science products.

Key Benefits for Industry Participants & Stakeholders

• In-Depth Analysis of the Life Science Products Market.
• Historical, Current and Projected Market Size in Terms of Value.
• Potential & Niche Segments and Regions Exhibiting Promising Growth Covered
• Industry Drivers, Restraints and Opportunities Covered in the Study
• Recent Industry Trends and Developments
• Competitive Landscape & Strategies of Key Players
• Neutral Perspective on From Life Science Products Market Performance

Segments

Key Segments Covered

By Product Types

• Recombinant Proteins
  • Immune Checkpoint Regulators
  • Chemokines
  • Growth Factors
  • Cytokines
  • Colony Stimulating Factors
  • Hormones
  • Enzymes and 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
  • Primary Antibodies
  • Assay Antibodies
  • Others
• Viable Tumor Samples
• Tumor Tissue Microarrays

By Applications

• Drug Discovery and Development
• Basic Research
• Toxicity Screening
• Biopharmaceutical Production
• Drug Screening
• Tissue Engineering
• Forensic Testing

By End-users

• Biopharmaceutical Companies
• Contract Research Organizations (CROs)
• Academic & Research Institutes
• Forensic Science Laboratories
• Food & Beverage Companies
• Diagnostic Centers
• Others

By Asia Pacific Countries

• China
• Japan
• South Korea
• India
• Australia
• South East Asia (SEA)
• Rest of Asia Pacific

Key Market Players Profiled in the Report

• Bio-Rad Laboratories, Inc.
• Genscript Biotech Corporation
• Merck KGaA
• PerkinElmer Inc.
• BioLegend, Inc.
• Enzo Life Sciences, Inc.
• Miltenyi Biotec
• PeproTech, Inc.
• Thermo Fisher Scientific Inc.

Competitive Landscape

• Key players in the Life Science Products market are A.M.S. Biotechnology Limited, Abcam Plc, Bio-Rad Laboratories Inc., BPS Bioscience, Inc., Crown Bioscience Inc., GenScript, Merck KGaA, PerkinElmer Inc., Shimadzu Corporation, and Thermo Fisher Scientific Inc.
• The players are adopting key strategies such as product development, geographical expansion, mergers and acquisition and many other strategies to cater the increasing demand for electronic signature software.

Video Summary for Life Science Products Market