As per Persistence Market Research, the global life science products market was estimated to be valued at more than US$ 2,500 Mn in 2015 and is projected to grow to approximately US$ 4,200 Mn by 2024 end. This represents a CAGR of 4.3% over the forecast period.
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The biomedical market comprises several subsectors, including biotechnology, pharmaceuticals, medical devices, and diagnostics. These subsectors operate in different ways, but all are focused on developing products and services that enhance human health.
The biotechnology sector focuses on developing innovative technologies and products that can be used in healthcare. These technologies are used to develop new therapies, treatments, and medical devices that can be used to prevent, diagnose, and treat diseases. Biotechnology also plays a crucial role in developing genetically engineered organisms and processes that can be used to improve food production and agriculture.
- Abcam Plc
- M.S. Biotechnology (Europe) Limited
- Bio-Rad Laboratories Inc.
- BPS Bioscience Inc.
- Crown Bioscience Inc.
- Genscript Biotech Corporation
- Merck Millipore Limited
- PerkinElmer Inc.
- Sigma Aldrich Corp.
- Thermo Fisher Scientific Inc.
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Pharmaceuticals are an essential part of the biomedical market, as they are responsible for developing and manufacturing drugs that are used to treat diseases and illnesses. The pharmaceutical sector is highly regulated, with strict guidelines that must be followed to ensure the safety and efficacy of drugs.
Medical devices are another important subsector of the biomedical market. These devices include equipment, instruments, and implants that are used to diagnose, monitor, and treat patients. Medical devices range from simple devices like thermometers and blood pressure monitors to complex devices like pacemakers and artificial organs.
Diagnostics is a rapidly growing subsector of the biomedical market. This subsector focuses on developing and manufacturing tests and tools that can be used to diagnose diseases and illnesses. Diagnostics products include imaging equipment, laboratory tests, and molecular diagnostic tests.
The biomedical market is highly competitive, with many companies vying for market share. Companies in this sector invest heavily in research and development to create new and innovative products that can improve patient outcomes. This research and development require significant resources, including financial investments, skilled personnel, and advanced technology.
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The global life science products market is segmented as follows:
|by Product Type||
|by End User||
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