Life Science Research Tools Market Assessment 8th Edition (2019-2029)

The eighth edition of this report provides an overview of the life sciences research tools (LSRT) market from 2019 to 2029. LSRT companies offer instruments, reagents and services to academic, biopharma, applied market, and (non-IVD) clinical customers. While the LSRT space includes hundreds of companies, the market is relatively consolidated, with top vendors including Agilent, Becton Dickinson, Danaher, Illumina, Merck-EMD Millipore, and (most notably) Thermo Fisher representing the majority of sales; however, mid-size players (e.g., PacBio) and smaller emerging players (e.g., Element, Quantum-Si) are often growing more rapidly, and driving innovation.

As in previous versions, we carefully triangulated market growth with past and forecasted organic growth from key players, many of which have experienced growth driven by acquisition. As a result, segmenting the market by technology, and taking a relatively conservative stance, we estimate that the life science research tools market will reach ~$91.2B in 2029, and is expected to grow 4-5% p.a. through that period. Uncertainty to this forecast exists (potential range: 2-7% p.a.) considering the current macroeconomic environment, trade tensions, political tensions, inflation and traction of many of these tools used for precision medicine. Long term guidance from top players tends to be in the low-single digits, and conservative for historically fast-growing companies (e.g., 1-3% growth revenue forecast for Thermo Fisher’s 2025 guidance). The average expected budget growth from 2024-2025 across 21 interviewees was ~3%. While the U.S., Europe, and China are driving this market, our analysis confirms continued growth in emerging markets (e.g., APAC ex-China, LATAM) across customer segments, with additional funding in certain developed geographies. This report evaluates which technologies are expected to capture (e.g., NGS, spatial omics) and lose (e.g., microarrays) relative market share within their respective “omics” segments.

For each of these 38 subsegments, we present an analysis detailing sales of instruments and reagents for 2019, 2024, and 2029. In addition, we detail market drivers (e.g., increased government funding in some segments) and moderators (e.g., pricing pressure for some technologies), market trends (e.g., interest in cell therapies, downstream use of liquid biopsy in oncology), a high-level end-customer breakdown (academic / government customers, biopharma / CROs, clinical non-IVD, and applied markets) and key competitors.

All data are based on manufacturer sales as publicly reported and DeciBio research and analysis*.

*Some of the companies listed in the report may be DeciBio Consulting clients and customers.

Segmentations Covered in Market Analysis:

Pure Genomics Technologies

• PCR
• qPCR
• Digital PCR
• Microarrays
• CE sequencing
• NGS / 3GS
• Molecular biology
• Synthetic Biology
• Sample preparation

Pure Proteomics Technologies

• Western blot
• ELISA
• Protein microarrays
• Other immunoassays
• Protein production
• General antibodies
• Protein sequencing

Pure Cell Biology Technologies

• Flow cytometry
• Whole cell analysis
• High content imaging
• Spatial omics
• Single cell analysis
• Microscopy
• Cell culture equipment
• Cells and tissues
• Transfection and electroporation
• Media and sera
• Basic reagents
• Cell-based assay discovery services

Other Analytical Technologies

• Chromatography
• Mass spec
• Structural analysis
• In vivo study
• Spectroscopy
• Label-free technologies

Other Supplies and Technologies

• Lab supplies and disposables
• Lab automation
• Glassware
• Magnetic bead

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Other contributing report authors include Juilee Malavade, Saloni Patel, Arnav Jolly, Sam Parker, Sylvia Illouz, Nicolas Enriquez, Emily Lan, Aditi Ghalsasi, and Tomi Siyanbade.