Life Science Reagents Market to Grow at a CAGR of 5.7% from 2022 to 2031 – KISS PR Podcast
Life Science Reagents Market Outlook 2031
- The global life science reagents market was valued at US$ 54.7 Bn in 2021
- The global market is projected to grow at a CAGR of 5.7% from 2022 to 2031
- The global life science reagents market is expected to reach more than US$ 100 Bn by the end of 2031
Overview of Life Science Reagents Market
Life science reagents are substances or compounds used in a chemical reaction to observe and record changes. Medical researchers analyze this data to determine the cause of a disease. Life science and analytical reagents are used in chemical reactions to measure, detect, or examine other substances. Technological advancements in molecular biology, life sciences, and biotechnology have brought about significant changes in health care diagnostics, drug discovery, personalized medicines, forensic sciences, and clinical research & development. This has increased the demand for biotechnology media, sera and reagents, biotechnology reagents, etc. Growth of the life science industry and increase in incidence rate of chronic and infectious diseases are driving the global life science reagents market.
Increase in Geriatric Population and Rise in Need for Disease Diagnosis Propel Global Life Science Reagents Market
Advances in the health care industry and life sciences industry, improvement in public health measures, and decrease in life-threatening infectious diseases in developed countries are augmenting the life expectancy of the global geriatric population. According to the United Nations, the elderly population (aged 60+ years) is expected to double by 2050 and triple by 2100. The population is likely to rise from 962 million in 2017 to 2.1 billion in 2050 and 3.1 billion in 2100.
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Globally, the geriatric population is growing at a faster rate than the young population. The geriatric population in Asia Pacific and South America is estimated…
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