LIFE SCIENCE PRODUCTS MARKET ANALYSIS

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)

Published In : Jun 2023
Code : CMI3652
Pages :180
Formats :
Excel and PDF
Industry : Biotechnology

Market Challenges And Opportunities

Global Life Science Products Market- Driver

Increase in the adoption of inorganic growth strategies such as acquisition

An increase in the adoption of inorganic growth strategies such as acquisition by the key players in the market is expected to drive the growth of the market over the forecast period. For instance, in January 2022, Thermo Fisher Scientific Inc, a pharmaceutical company, announced the acquisition of PeproTech, Inc., a developer and manufacturer of recombinant proteins. PeproTech, Inc, a privately held provider of bioscience reagents known as recombinant proteins, including cytokines and growth factors.

An increase in government funding in the life science sector

An increase in government funding in the life science sector is expected to drive the growth of the market over the forecast period. For instance, on March 28, 2023, the Government of U.K. announced that four U.K. life sciences companies will receive US$ 296.8 million to help fund and advance manufacturing projects in medical diagnostics and human medicines. This funding comes from government investment with the aim of boosting the U.K. life sciences sector’s capacity for manufacturing and innovation. The four companies that will receive grants are Ipsen, Pharmaron, Torchlight, and Randox.

Global Life Science Products Market: Restraint

High cost of life science products

High cost of life science products is expected to hinder the growth of the market. Development of novel products in the life science domain requires complex processes, which lead to expensive products. For instance, data published in May 2022, on Biomatik, stated that producing a monoclonal antibody can be complicated and more expensive and can cost an average cost of US$ 6000- US$ 15000. Moreover, according to data published in July 2021, on World Health Organization (WHO), stated that the cost of goods to produce monoclonal antibodies is dependent on the amount of mAb(s) per dose, the regimen (how many doses are needed) as well as the demand and production scale. Current production costs are estimated at US$ 95-200 per gram.