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.
Life Science Products 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
Life Science Products Market 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 tothe 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.
Asia Pacific Life Science Products MarketCountry 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
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.
Chapter 1 Executive Summary Chapter 2 Assumptions and Acronyms Used Chapter 3 Research Methodology Chapter 4 Life Science Products Market Overview 4.1 Introduction 4.1.1 Market Taxonomy 4.1.2 Market Definition 4.1.3 Macro-Economic Factors Impacting the Market Growth 4.2 Life Science Products Market Dynamics 4.2.1 Market Drivers 4.2.2 Market Restraints 4.2.3 Market Opportunity 4.3 Life Science Products Market - Supply Chain Analysis 4.3.1 List of Key Suppliers 4.3.2 List of Key Distributors 4.3.3 List of Key Consumers 4.4 Key Forces Shaping the Life Science Products Market 4.4.1 Bargaining Power of Suppliers 4.4.2 Bargaining Power of Buyers 4.4.3 Threat of Substitution 4.4.4 Threat of New Entrants 4.4.5 Competitive Rivalry 4.5 Asia Pacific Life Science Products Market Size & Forecast, 2018-2028 4.5.1 Life Science Products Market Size and Y-o-Y Growth 4.5.2 Life Science Products Market Absolute $ Opportunity 4.6 Asia Pacific Life Science Products Market: Regulatory Landscape 4.7 Asia Pacific Life Science Products Market: Investment Opportunities: Overview 4.8 Global Life Science Products Market Trends Chapter 5 Asia Pacific Life Science Products Market Analysis and Forecast By Product 5.1 Introduction 5.1.1 Key Market Trends & Growth Opportunities By Product 5.1.2 Basis Point Share (BPS) Analysis By Product 5.1.3 Absolute $ Opportunity Assessment By Product 5.2 Life Science Products Market Size Forecast By Product 5.2.1 Recombinant Proteins 5.2.1.1 Immune Checkpoint Regulators 5.2.1.2 Chemokines 5.2.1.3 Growth Factors 5.2.1.4 Cytokines 5.2.1.5 Colony Stimulating Factors 5.2.1.6 Hormones 5.2.1.7 Enzymes and Inhibitors 5.2.1.8 Others 5.2.2 Cell Lines 5.2.2.1 Immunotherapy Cell Lines 5.2.2.2 Ion Channel Cell Lines 5.2.2.3 GPCR Cell Lines 5.2.2.4 Cell Signaling Pathway Cell Lines 5.2.2.5 Gene Knockout Cell Lines 5.2.2.6 Cancer Cell Lines 5.2.2.7 Others 5.2.3 Antibodies 5.2.3.1 Immune Checkpoint Antibodies 5.2.3.2 Epitope Tag Antibodies 5.2.3.3 Isotype Control Antibodies 5.2.3.4 Primary Antibodies 5.2.3.5 Assay Antibodies 5.2.3.6 Others 5.2.4 Viable Tumor Samples 5.2.5 Tumor Tissue Microarrays 5.3 Market Attractiveness Analysis By Product Chapter 6 Asia Pacific Life Science Products Market Analysis and Forecast By Application 6.1 Introduction 6.1.1 Key Market Trends & Growth Opportunities By Application 6.1.2 Basis Point Share (BPS) Analysis By Application 6.1.3 Absolute $ Opportunity Assessment By Application 6.2 Life Science Products Market Size Forecast By Application 6.2.1 Drug Discovery and Development 6.2.2 Basic Research 6.2.3 Toxicity Screening 6.2.4 Biopharmaceutical Production 6.2.5 Drug Screening 6.2.6 Tissue Engineering 6.2.7 Forensic Testing 6.3 Market Attractiveness Analysis By Application Chapter 7 Asia Pacific Life Science Products Market Analysis and Forecast By End-user 7.1 Introduction 7.1.1 Key Market Trends & Growth Opportunities By End-user 7.1.2 Basis Point Share (BPS) Analysis By End-user 7.1.3 Absolute $ Opportunity Assessment By End-user 7.2 Life Science Products Market Size Forecast By End-user 7.2.1 Biopharmaceutical Companies 7.2.2 Contract Research Organizations (CROs) 7.2.3 Academic & Research Institutes 7.2.4 Forensic Science Laboratories 7.2.5 Food & Beverage Companies 7.2.6 Diagnostic Centers 7.2.7 Others 7.3 Market Attractiveness Analysis By End-user Chapter 8 Coronavirus Disease (COVID-19) Impact 8.1 Introduction 8.2 Current & Future Impact Analysis 8.3 Economic Impact Analysis 8.4 Government Policies 8.5 Investment Scenario Chapter 9 Asia Pacific Life Science Products Analysis and Forecast 9.1 Introduction 9.2 Asia Pacific Life Science Products Market Size Forecast by Country 9.2.1 China 9.2.1.1 By Product 9.2.1.2 By Application 9.2.1.3 By End-user 9.2.2 Japan 9.2.2.1 By Product 9.2.2.2 By Application 9.2.2.3 By End-user 9.2.3 South Korea 9.2.3.1 By Product 9.2.3.2 By Application 9.2.3.3 By End-user 9.2.4 India 9.2.4.1 By Product 9.2.4.2 By Application 9.2.4.3 By End-user 9.2.5 Australia 9.2.5.1 By Product 9.2.5.2 By Application 9.2.5.3 By End-user 9.2.6 South East Asia (SEA) 9.2.6.1 By Product 9.2.6.2 By Application 9.2.6.3 By End-user 9.2.7 Rest of Asia Pacific (APAC) 9.2.7.1 By Product 9.2.7.2 By Application 9.2.7.3 By End-user 9.3 Basis Point Share (BPS) Analysis by Country 9.4 Absolute $ Opportunity Assessment by Country 9.5 Market Attractiveness Analysis by Country Chapter 10 Competition Landscape 10.1 Life Science Products Market: Competitive Dashboard 10.2 Asia Pacific Life Science Products Market: Market Share Analysis, 2020 10.3 Company Profiles (Details – Overview, Financials, Developments, Strategy) 10.3.1 Bio-Rad Laboratories, Inc. 10.3.2 Genscript Biotech Corporation 10.3.3 Merck KGaA 10.3.4 PerkinElmer Inc. 10.3.5 BioLegend, Inc. 10.3.6 Enzo Life Sciences, Inc. 10.3.7 Miltenyi Biotec 10.3.8 PeproTech, Inc. 10.3.9 Thermo Fisher Scientific Inc. 10.3.10 Crown Bioscience Inc. 10.3.11 Sino Biological Inc. 10.3.12 Proteintech Group, Inc. 10.3.13 AMSBIO 10.3.14 Abcam plc 10.3.15 BPS Bioscience Inc.
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The base year considered for the Life Science Products market report is 2019. The complete analysis period is 2017 to 2027, wherein, 2017 & 2018 are the historic years, and the forecast is provided from 2020 to 2027.
The market is expected to witness sluggish growth with slow increase in terms of demand during 2019-2020 owing to the negative impact of COVID-19 pandemic on the Life Science Products market.
The demand for Life Science Products utilized in Biopharmaceutical Companies, Contract Research Organizations (CROs), Academic & Research Institutes, Forensic Science Laboratories, Food & Beverage Companies, Diagnostic Centers among other industries is driving the market growth.
The Life Science Products market is anticipated to grow significantly during forecast period due to rise in the number of chronic diseases and increase in support from governments.
In addition to market size (in USD Million) and Company Market Share (in % for base year 2019), other data such country by segment split, Regulatory Landscape, Investment Opportunities: Overview, Global Market Trends, Macro-economic factors, and COVID-19 Impact on the Life Science Products market is available in the final report.
According to this Growth Market Reports, the market from Life Science Products market is likely to register a CAGR of 6.4% during period 2020-2027, with an anticipated valuation of USD 2,584.9 million by the end of the 2027.
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