Electrophoresis Market Share Expand To US$ 3,500 Million By Top Manufacturers, Latest Technologies, Segments Overview, Future Trends, Growth Opportunity and Forthcoming Developments
The Global Electrophoresis Market, by Product (Systems, Reagents, Software, and Others), by Application (Diagnosis, Pharmaceutical & Biotechnology Research, and Others), by End Use (Pharmaceutical & Biotechnology Companies, Academic Research Institutes, Diagnostic Laboratories, and Others), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) was valued at US$ 2,263.3 million in 2017, and is estimated to exhibit a CAGR of 5.7% over the forecast period (2018-2026), as highlighted in a new report published by Coherent Market Insights.
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Electrophoresis Market – Insights
Electrophoresis is a general term used to describe the migration and separation of charged particles under the influence of an electric field. In other words, electrophoresis is the motion of dispersed particles relative to a field under the influence of spatially uniform electric field. It plays an essential role in separation of nucleic acids and proteins in the field of proteomics and genomics.
The global electrophoresis market was valued at US$ 2,263.3 million in 2017, and is expected to witness a CAGR of 5.7% over the forecast period (2018 – 2026).
Global Electrophoresis Market Share (%) Analysis, By Product, 2017
Source: Coherent Market Insights Analysis (2019)
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Market Dynamics- Driver
Increasing research and development activities in pharmaceutical and biotechnology sector is expected to drive the global electrophoresis market growth
Constant research and development activities in biotechnology and pharmaceutical industry is expected to drive growth of the global electrophoresis market during the forecast period. According to the Pharmaceutical Research and Manufacturers of America (PhRMA) 2018 report, a U.S.-based biopharmaceutical company, invested around US$ 90 billion in R&D in 2016. Electrophoresis has application in various fields ranging from healthcare to forensic science. For instance, hemoglobin electrophoresis tests blood samples and determines blood disorders such as sickle cell anemia.
Various complex biological molecules such as antibiotics, vitamins B12, and proteins can be separated efficiently by electrophoresis due to charge difference among the mixtures. Electrophoresis is also used in preparation of antibiotic medicines and testing drugs for resistance to pathogens. The technique is used in the purification and analysis of different types of vaccines such as Hepatitis and influenza.
Gel electrophoresis technique is used in DNA fingerprinting to identify large molecules. Capillary electrophoresis is suitable for use in genetic analysis, pharmaceuticals with enantiomers, counter-ion analysis in drug discovery, and protein characterization. Electrophoresis reaction is also used by the International Olympic Committee to conduct drug tests among players. These tests help to detect illegal supplements ingested by athletes for enhancing their performance.
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Global Electrophoresis Market Restraints
Although there have been technological advancements in the past, the need for an external power supply to operate the electrophoresis remain the major challenging factor. This is a bottle neck for the usage of any electrophoresis system since the usage of electrophoresis is limited to a room with an external power supply.
Other disadvantages of the currently available electrophoresis systems and techniques include the effect of contaminations such as selenium and vanadium that can compromise gel results, especially if the process is being left to run for a long period of time. Moreover, a lot of care needs to be taken in handling capillary electrophoresis, such as gas flow rates and capillary position, as differences in the settings can generate different results for the same experiment. Therefore, these aforementioned factors are expected to restrain growth of the global electrophoresis market over the forecast period.
Global Electrophoresis Market – Regional Insights
On the basis of region, the global electrophoresis market is segmented into North America, Latin America, Europe, Asia Pacific, Middle East, and Africa. North America electrophoresis market is expected to account for the largest market share in terms of revenue, owing to increasing research and development activities on proteins and genes. According to the Pharmaceutical Research and Manufacturers Association (PhRMA), U.S. firms conduct more than 50% of the world’s R&D in pharmaceuticals and hold the intellectual property rights on most new medicines. In 2017, the U.S. Food and Drug Administration (FDA) approved 56 new medicines including first cell and gene therapies and first treatment for sickle cell disease.
Furthermore, Asia Pacific is expected to witness significant CAGR during the forecast period, owing to rising public and private investments in R&D. Moreover, rapidly growing pharmaceutical industries in emerging economies are expected to attract investments from private firms to establish technologically advanced laboratories in the regions. According to the Foreign Direct Investment Policy of India, in India, bio-incubation space of 175,000 sq. ft. has been planned with the target to support 50 world class bio-incubators by 2020. According to the India Brand Equity Foundation (IBEF) 2017 report, the Indian government is projected to invest US$ 3.7 billion on biotechnology in 12th Five-Year Plan.
Global Electrophoresis Market Value (US$ Mn) & Y-o-Y Growth (%)
Source: Coherent Market Insights Analysis (2019)
Global Electrophoresis Market – Competitive Landscape
Key players operating in the global electrophoresis market include Agilent Technologies, Bio-Rad Laboratories, C.B.S. Scientific Company, Inc., Danaher Corporation, GE Healthcare, Harvard Bioscience, Inc., Hoefer Inc., Lonza Group Ltd., Merck Millipore, PerkinElmer, Inc., Shimadzu Corporation, Thermo Fisher Scientific Inc., and Qiagen N.V.
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Key Takeaways of the Electrophoresis Market:
- The global electrophoresis market is expected to exhibit a CAGR of 5.7% over the forecast period (2018-2026), attributed to increasing R&D in pharmaceutical and biotechnology industry. For instance, according to the 13th five year plan for national science and technology talent development (2016-2020), China is expected to increase its annual per capita spending on R&D to US$ 79,442 by 2020, up from US$ 58,787 in 2014.
- On the basis of end-use, academic & research institutes segment is expected account for major market share over the forecast period, attributed to rise in the number of biotechnology and life science research studies globally, coupled with increasing R&D spending
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