Life Science Market Size to Soar USD 269.56 Bn Rising at 11.8% CAGR by 2034

The global life science market is valued at USD 98.63 billion in 2025 and is projected to expand to nearly USD 269.56 billion by 2034, advancing at a CAGR of 11.82% throughout the forecast period.

Ottawa, Sept. 09, 2025 (GLOBE NEWSWIRE) -- According to a study published by Towards Healthcare, a sister company of Precedence Research, the global life science market size was valued at USD 88.2 billion in 2024 and is anticipated to reach approximately USD 269.56 billion by 2034, growing at a CAGR of 11.82% over the forecast period.

A rise in chronic cases, R&D investments, and innovative technologies is fueling the global market expansion.

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Key Takeaways

Life science industry poised to reach USD 88.2 billion in 2024.
Forecasted to grow to USD 269.56 billion by 2034.
Expected to maintain a CAGR of 11.82% from 2025 to 2034.
North America was dominant in the global market share in 2024.
The U.S. life science market is expected to witness robust expansion from 2025 to 2034, fueled by changing consumer needs and novel technologies.
Asia-Pacific is expected to grow at the fastest CAGR during the forecast period.
By type, the pharmaceuticals segment led the life science market in 2024.
By type, the biotechnology segment is expected to register the fastest growth in the studied years.
By application, the therapeutics segment dominated the market in 2024.
By application, the drug discovery & development segment is expected to witness rapid expansion during 2025-2034.
By therapeutic areas, the oncology segment held a major share of the life science market in 2024.
By therapeutic areas, the infectious diseases segment is expected to be the fastest-growing in the upcoming years.

Market Overview & Potential

The global life science market comprises the promising study of diverse living organisms and life processes, especially in biology, biotechnology, and medicine. Furthermore, they possess several applications, such as drug discovery and development, personalized medicine, diagnostics, clinical trials, and genomics research. Nowadays, the R&D sector is working on widespread developments in novel therapeutic modalities, mainly in mRNA and cell/gene therapies. Other ongoing advancements, like 3D bioprinting in the evolution of tissues and organs, are advancing regenerative medicine and also facilitating solutions for disease and injury. However, progression in synthetic biology and metabolic engineering is expanding the production of therapeutics and biomaterials more effectively and environmentally friendly.

What are the Key Growth Drivers in the Life Science Market?

Many countries are experiencing a huge burden of a geriatric population associated with chronic and other genetic disorders, which further supports the R&D area for developing new and highly efficacious treatments. Furthermore, this results in the emergence of preventive solutions, faster technological innovation, specifically in AI, gene editing, and next-generation sequencing (NGS), which are assisting in fulfilling the rising demand for precision medicine and new biologics. Another major driver is a wider adoption of cloud-based approaches and advanced analytics to expand collaboration, handle vast datasets, boost effectiveness, and inform decision-making.

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What are the Transforming Trends in the Life Science Market?

The worldwide technological breakthroughs, developments in drug discovery, and personalized medicine are significantly impacting the overall market growth.

In August 2025, Telangana secured ₹54,000 crore investments in Life Sciences, focusing on becoming Asia’s Life Sciences hub by 2030.
In June 2025, Addex Therapeutics, a clinical-stage biopharmaceutical company, made a CHF 2 million investment in Stalicla, a clinical-stage company focused on precision medicine for neurodevelopmental and neuropsychiatric disorders.
In June 2025, Advent, a private equity investor, signed a definitive agreement to invest $175 million in Felix Pharma to acquire a minority stake.
In April 2025, Concept Life Sciences, an integrated drug discovery, development, and manufacturing organisation backed by Limerston Capital, made key strategic appointments and advancements to further boost its services for the global pharmaceutical and biotechnology sectors.

What is the Evolving Challenge in the Life Science Market?

There are strict and developing regulatory landscapes from bodies, mainly the FDA and EMA are critical and time-consuming, as well as expensive approval processes, that are emerging barrier to the market growth. Also, rising disturbances in the life science supply chain are leading to the need for a strong management system, especially for sensitive products, to maintain quality standards and deal with difficulties, such as cold chain logistics.

Regional Analysis

Life Science Market Size, By Region (USD Billion)

Region	2024	2025	2026	2027	2028	2029	2030	2031	2032	2033	2034
North America	35.39	39.31	43.21	47.74	52.80	57.93	65.28	73.47	82.29	93.95	102.47
Europe	22.56	25.16	28.47	31.71	35.65	42.38	47.81	52.67	60.11	67.29	74.02
Asia-Pacific	22.43	24.53	27.11	30.71	34.04	36.76	41.59	48.24	53.42	59.76	66.66
Latin America	3.81	4.26	4.55	4.97	5.64	4.80	5.30	5.72	5.02	6.16	7.59
Middle East & Africa	4.00	5.37	6.94	8.19	9.77	12.33	12.44	12.70	14.74	13.91	18.82

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How did North America Hold a Major Share of the Market in 2024?

In 2024, North America led the life science market due to capturing the largest revenue share. This region encompasses sophisticated healthcare and R&D systems, coupled with the presence of highly advanced diagnostic and precision therapeutics solutions. As well as currently, this region’s researchers are developing newer genomics, proteomics, and molecular biology approaches by integrating with well-developed cloud-based solutions for data management, real-time analytics, and accelerated operational efficiency.

For instance,

In September 2025, Gilead Sciences opened a new pharmaceutical development and manufacturing hub at its headquarters in Foster City, California, with its plan to invest $32 billion in domestic manufacturing.
In June 2025, Hikma Pharmaceuticals planned to invest $1 billion by 2030 to further boost its US manufacturing and R&D capabilities, to develop, produce, and deliver a wide range of medicines.

The U.S. life science market is on an upward trajectory, poised to generate substantial revenue growth, potentially climbing into the hundreds of millions over the forecast years from 2025 to 2034. This surge is attributed to evolving consumer preferences and technological advancements reshaping the industry.

What Made the Asia Pacific Grow Significantly in the Market in 2024?

Asia Pacific is anticipated to expand rapidly in the life science market during 2025-2034. Primarily, supportive government policies, particularly in China and India, are widely supporting the life science domain by investing in healthcare infrastructure, research grants, and initiatives that foster local product and technological adoption. Ongoing R&D approaches, clinical trials, and other collaborations among various research institutions and pharmaceutical companies are increasingly expanding the overall market progress.

For this market,

In March 2025, India expected nearly ₹17,000 crore in pharma research and development (R&D) investments by FY28, aiming at cancer research, lifestyle disease prevention, medical technology, and niche segments, such as orphan drugs and innovative chemical development.
In March 2025, AstraZeneca invested $2.5 billion in Beijing to develop its sixth global strategic R&D centre, coupled with significant research and manufacturing agreements that will further advance life sciences in China.

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Segmental Insights

By type analysis

Which Type Led the Life Science Market in 2024?

The pharmaceuticals segment accounted for the dominating share of the market in 2024. Globally increasing burden of aging populations and their severe, chronic health issues, like diabetes, heart conditions, cancers, and neurological disorders, are propelling the broader demand for novel pharmaceuticals. Additionally, the growing genetic disorders are also boosting the development of robust gene/cell therapies, with customized approaches. Moreover, the presence of robust pharmaceutical industry hubs in the US, Asia, and other regions is expanding the large-scale production of these pharmaceuticals.

Although the biotechnology segment is predicted to witness rapid expansion during 2025-2034. Combined factors are impacting its expansion, such as a rise in genetic & rare diseases, which further fuels the adoption of advanced gene editing technologies like CRISPR-Cas9. Besides this, ongoing heavy investments in the development of novel cell & gene therapies are supporting the overall biotechnology sector. The emergence of advanced biomanufacturing, RNA technologies, bioprinting & tissue engineering, and other synthetic biology approaches is influencing the market expansion.

By application analysis

How did the Therapeutics Segment Hold the Biggest Share of the Market in 2024?

In 2024, the therapeutics segment dominated with the largest share of the life science market. The segment is driven by the growing cases of diabetes, obesity, and diverse cancers, and the ongoing advantages of AI for drug discovery and big data analytics. The fruitful effects of these developments are further assisting in evolving digital therapeutics, which consist of the integration of digital tools and apps with traditional therapies. Stepping efforts into the production of new therapeutics by both public and private sectors are boosting the comprehensive development.

The drug discovery & development segment is anticipated to expand rapidly. The application of AI and data science in this segment is expanding the process by detecting targets, designing molecules, and estimating efficacy, which makes drug discovery quicker and more affordable. Moreover, numerous larger companies are widely involved in outsourcing R&D activities to specialized firms, which is further accelerating the transformations in the drug discovery services area. Consistent collaborations among biopharmaceutical and technology companies are fostering to provision of specialized personnel in streamlining the drug discovery and development processes.

By therapeutic areas analysis

Why did the Oncology Segment Dominate the Life Science Market in 2024?

The oncology segment was dominant in the global market in 2024. The globe is facing the expansion in aging populations, changing lifestyles, and genetic predispositions, which is fueling the adoption of advanced oncology treatments. As well as emerging innovations in diagnostic tools, especially liquid biopsy and AI-driven diagnostics, coupled with advancements in cancer biology and drug discovery, are helping to raise treatment efficacy. Currently, the developments in cell and gene therapies, ADCs, and multi-specific antibodies are boosting the entire oncology sector.

Whereas, the infectious diseases segment will register the fastest growth during 2025-2034. A rise in severe cases of HIV, hepatitis, tuberculosis, malaria, and other significant viral infections is enhancing the demand for advanced treatments. The promising use of various molecular diagnostics, like PCR, RT-PCR, NGS, and CRISPR-based diagnostics, is offering rapid, more accurate pathogen detection. The accelerating public awareness and the focus on early disease detection, mainly after events like the COVID-19 pandemic, are fueling demand for robust diagnostics and treatments in the development of different infectious diseases.

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What are the Recent Developments in the Life Science Market?

In September 2025, Elsevier, a global information and analytics company, launched PharmaPendium AI, a generative AI assistant for regulatory intelligence in drug development.
In September 2025, Glenmark launched a generic cancer treatment drug in the US.
In September 2025, BioFactura, Inc., a clinical-stage biopharmaceutical company, inaugurated its Capitol Biologics, a new Contract Development and Manufacturing Organization (CDMO) division, to assist the process development, early-phase clinical manufacturing, and analytical needs of evolving biotechnology companies and U.S. government agencies.
In August 2025, MedGenome introduced a whole-genome test for precise brain tumour classification.
In July 2025, Biocon Biologics Ltd (BBL), a fully integrated global biosimilars company and subsidiary of Biocon Ltd, unveiled Nepexto, a biosimilar to the reference product Enbrel (Etanercept), in Australia.

Life Science Market Key Players

AstraZeneca
Baker Tilly
BIOQuébe
Clarivate plc
Eli Lilly and Company
GlaxoSmithKline plc
Honeywell
Merck KGaA
Novartis
Novo Nordisk
Pfizer
Roche
Schrödinger, Inc.
Thermo Fisher Scientific

Browse More Insights of Life Sciences in Towards Healthcare:

The global life science consumables market is valued at US$ 29.88 billion in 2024, expected to rise to US$ 31.51 billion in 2025, and further expand to approximately US$ 50.71 billion by 2034, advancing at a CAGR of 5.44% between 2025 and 2034.

The life sciences ERP software market is also gaining momentum worldwide and is projected to generate hundreds of millions in revenue over the forecast period of 2025–2034.

Meanwhile, the life science equipment market reached USD 63.72 billion in 2024, is set to increase to USD 67.76 billion in 2025, and is forecasted to achieve nearly USD 120.82 billion by 2034, progressing at a 6.34% CAGR from 2025 to 2034.

In parallel, the life science microscopes market stood at US$ 3.55 billion in 2024, will rise to US$ 3.71 billion in 2025, and is projected to hit US$ 5.53 billion by 2034, growing at a 4.55% CAGR across the forecast horizon.

The life science CDMO market is witnessing notable growth, with revenues anticipated to climb into the hundreds of millions by 2034.

Similarly, the life science lab equipment market accounted for USD 57.71 billion in 2024, will grow to USD 61.08 billion in 2025, and is expected to reach USD 101.37 billion by 2034, advancing at a CAGR of 5.84% during 2025–2034.

The life sciences CRM market registered a value of US$ 1.24 billion in 2024, will expand to US$ 1.32 billion in 2025, and is projected to reach nearly US$ 2.29 billion by 2034, at a 6.32% CAGR.

The life sciences IT market was valued at USD 23.71 billion in 2024, is expected to grow to USD 26.33 billion in 2025, and will likely hit USD 67.69 billion by 2034, recording a CAGR of 11.06% over the forecast span.

The life science logistics market stood at US$ 127.7 billion in 2024, increased to US$ 137.23 billion in 2025, and is projected to reach US$ 262.51 billion by 2034, growing at a 7.46% CAGR.

The life science products market generated US$ 3.15 billion in 2024, expanded to US$ 3.48 billion in 2025, and is forecast to attain US$ 8.65 billion by 2034, advancing at a CAGR of 10.56% from 2025 to 2034.

Segments Covered in The Report

By Type

Pharmaceuticals
- Branded Drugs
- Generic Drugs
- Biosimilars
Biotechnology
- Genomics
- Proteomics
- Metabolomics
- Bioinformatics
Medical Devices
- Diagnostics
- Therapeutic Devices
- Wearables
Life Science Tools
- Instruments
- Reagents & Consumables
- Analytical Tools
Digital Health Solutions
- AI in Life Sciences
- Cloud-based Solutions
- Health Informatics

By Application

Therapeutics
Drug Discovery & Development
Diagnostics
Clinical Trials
Research & Development

By Therapeutic Areas

Oncology
Infectious Diseases
Cardiology
Neurology
Immunology
Rare Diseases
Others

By Region

North America
- U.S.
- Canada
Asia Pacific
- China
- Japan
- India
- South Korea
- Thailand
Europe
- Germany
- UK
- France
- Italy
- Spain
- Sweden
- Denmark
- Norway
Latin America
- Brazil
- Mexico
- Argentina
Middle East and Africa (MEA)
- South Africa
- UAE
- Saudi Arabia
- Kuwait

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About Us

Towards Healthcare is a leading global provider of technological solutions, clinical research services, and advanced analytics, with a strong emphasis on life science research. Dedicated to advancing innovation in the life sciences sector, we build strategic partnerships that generate actionable insights and transformative breakthroughs. As a global strategy consulting firm, we empower life science leaders to gain a competitive edge, drive research excellence, and accelerate sustainable growth.

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