Electrophoresis Market Worth $1.98 Billion by 2020
DALLAS, May 22, 2015 /PRNewswire/ --
According to a new market research report "Electrophoresis Market by Product (1D & 2D Gel Electrophoresis, Agarose & Polyacrylamide Gel, Capillary Electrophoresis, Isoelectric Focusing, Isotachophoresis, CZE, CGE, MEKC, Reagents, Informatics), by Application & by End User - Global Forecast to 2020", published by MarketsandMarkets, the Electrophoresis Market is expected to reach around $1.98 Billion by 2020 with a CAGR of 5.3% during the forecast period 2015 to 2020.
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The electrophoresis market witnessed healthy growth during the last decade owing to the rising aging population, rising R&D expenditure, and international research collaborations. However, growing adoption of other technologies with better efficiency and results such as mass spectrometry, microarrays, and chromatography and time consuming analysis are restraining the growth of the electrophoresis technologies market.
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The electrophoresis technologies market is broadly split into three product segments-electrophoresis instrumentation, reagents, and imaging and informatics. The reagents segment, comprising buffers, gels, assay kits, dyes, and other reagents, accounted for the largest share of 55%-60% of the global electrophoresis technologies market, in 2014. The large share of this segment is mainly attributed to the repetitive use of reagents in various electrophoresis techniques. In addition, the increase in innovations and developments in proteomics and genomic research, availability of funds from various organizations, and increasing R&D expenditure are further propelling the growth of electrophoresis reagents market growth during the forecast period.
On the basis of applications, the electrophoresis technologies market is segmented into research applications, diagnostic applications, and quality control and process validation. The research applications segment accounted for the largest share of ~75% of the electrophoresis technologies market, in 2014, whereas, the diagnostic applications segment is expected to grow at the highest CAGR of 6%-8% during the forecast period of 2015 to 2020. On the basis of end users, the electrophoresis technologies market is segmented into academic institutions, hospitals and diagnostic laboratories, pharmaceutical and biotechnology companies, and research organizations.
North America represented the largest regional market in 2014, followed by Europe, Asia-Pacific, and RoW. The Asia-Pacific region is expected to be the fastest-growing electrophoresis technologies market during the forecast period, primarily due to the increasing investments by pharmaceutical and biotechnology companies, rising demand of innovative technologies, and increasing research collaborations and funding.
Some of the major players in the Electrophoresis Technologies Market are Bio-Rad Laboratories, Inc. (U.S.), Thermo Fisher Scientific, Inc. (U.S.), Danaher Corporation (U.S.), PerkinElmer, Inc. (U.S.), QAIGEN N.V. (Netherlands), Sigma-Aldrich Corporation (U.S.), Agilent Technologies, Inc. (U.S.), and Shimadzu Corporation (Japan).
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