The electrophoresis market is expected to reach USD 3.6 billion by 2027 from USD 2.3 billion in 2020, at a CAGR of 6.4 % during the forecast period. Electrophoresis technique is used to physically separate macromolecules such as RNA, nucleic acid fragments, and proteins according to their molecular size and electric charge. Both gel electrophoresis and capillary electrophoresis techniques are observed to be the first choice of researchers for efficient analytical separation of macromolecules. Gel electrophoresis is a technique that separates macromolecules using gel-like matrix and has contributed to the growth by offering a wide range of geometrics to researchers. The market for capillary electrophoresis has been revitalized through growing popularity of microfluidics.
Gel electrophoresis is used in genomics for the generation of artificial chromosome libraries, genetic mapping, and chromosomal assignments of genes. Thus, the genomics market is expected to drive the electrophoresis market. Increase in government funding and technological advancements are expected to positively influence the market growth. On the other hand, decline in average selling prices of instruments and services is expected to be offset by an increase in genetic testing volumes. Expanding application of genomics research and testing, supported by the declining cost of instruments and consumables, presents several growth opportunities for market participants in the manufacturing and services industry.
The other factors driving the electrophoresis market include the increasing importance of proteomics research. Growth in the proteomics market has consequently driven the electrophoresis market. Electrophoresis has major application in proteomics; hence, an increase in the number of scientific discoveries arising from the human genome project and advancement in high-throughput technologies for protein studies have boosted the global proteomics market. This has resulted in a parallel effect on the global electrophoresis market. Additionally, with the patent expiration of several bestseller drugs increasing new drug development investments, and the market focusing on research projects involving proteins, associated biomolecules, and genes is also driving this market. There has been a significant demand for technologically advanced electrophoresis equipment that are capable of providing higher precision and enhanced detection limits along with higher throughputs.
The rising incidence of cancer, infectious diseases, and genetic disorders; growth in funding for research on genomic, proteomic, and electrophoresis techniques; the growing number of industry-academia research collaborations; growing use of capillary electrophoresis with mass spectroscopy; the increasing use of next-generation sequencing; and rise in the number of clinical, forensic, and research laboratories are factors driving the growth of the electrophoresis market.
Key players contributing to the growth of the market include Bio-Rad Laboratories, GE Healthcare, Thermo Fisher Scientific Inc., Danaher Corporation, Agilent Technologies, Merck Millipore, PerkinElmer, Inc., Hoefer Inc., QIAGEN N.V., Lonza Group Ltd., Shimadzu Corporation, Harvard Bioscience, Inc. and C.B.S. Scientific Company, Inc. The global electrophoresis market is dominated by Bio-Rad Laboratories Inc., and GE Healthcare Ltd., followed by Agilent Technologies and Life Technologies Corp. Enhanced technology, innovative solutions, varied product portfolio, efficient after sales services and others are the major reasons for the dominance of Bio-Rad Laboratories Inc., and GE Healthcare Ltd.
The electrophoresis market in the Asia Pacific is expected to grow at the highest CAGR during the forecast period. This region is expected to grow at the highest pace during the forecast period, primarily due to growing proteomics & genomics research, increasing investments by pharmaceutical and biotechnology companies, growing awareness about personalized therapeutics, and increasing research activities in the field of mAbs-based therapeutics.
Report : Electrophoresis Market - By End User (Academic & Research Institutes, Hospitals & Diagnostic Centres, Pharmaceutical & Biotechnology Companies, And Others), By Product (Electrophoresis Reagents, Electrophoresis Systems, Gel Documentation Systems, And Software), By Application (Research, Diagnostics, And Quality Control & Process Validation) and By Region (North America, Asia Pacific, Europe, Middle East & Africa and Latin America) - Industry Analysis, opportunity and Forecast 2020 To 2027