Report ID: UCMIG35J2048
Report ID:
UCMIG35J2048 |
Region:
Global |
Published Date: Upcoming |
Pages:
165
| Tables: 55 | Figures: 60
The global life science tools market had a value of USD 144.08 billion in 2022 and is expected to grow at a compound annual growth rate (CAGR) of 10.8% between 2023 and 2030. The growth is driven by advancements made by life science tools companies in areas such as sequencing, MS, chromatography, NMR, and other products. Additionally, funding and investment for the development of advanced therapeutics, coupled with a constant demand for novel medicines and treatments due to increasing incidence of diseases such as cancer, kidney and thyroid disorders, and diabetes are expected to contribute to the growth of the market. The COVID-19 pandemic has had an impact on several industries and their supply chains globally.
This report is being written to illustrate the market opportunity by region and by segments, indicating opportunity areas for the vendors to tap upon. To estimate the opportunity, it was very important to understand the current market scenario and the way it will grow in future.
Production and consumption patterns are being carefully compared to forecast the market. Other factors considered to forecast the market are the growth of the adjacent market, revenue growth of the key market vendors, scenario-based analysis, and market segment growth.
The market size was determined by estimating the market through a top-down and bottom-up approach, which was further validated with industry interviews. Considering the nature of the market we derived the Life Sciences Tools & Services by segment aggregation, the contribution of the Life Sciences Tools & Services in Pharmaceuticals, Biotechnology & Life Sciences and vendor share.
To determine the growth of the market factors such as drivers, trends, restraints, and opportunities were identified, and the impact of these factors was analyzed to determine the market growth. To understand the market growth in detail, we have analyzed the year-on-year growth of the market. Also, historic growth rates were compared to determine growth patterns.
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Report ID: UCMIG35J2048