The electrophoresis market is projected to grow at a CAGR of 6.0%
NEW YORK, April 30, 2020 /PRNewswire/ -- The electrophoresis market is projected to grow at a CAGR of 6.0% during the forecast period.
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The electrophoresis market is expected to reach USD 3.6 billion by 2025 from USD 2.7 billion in 2020, at a CAGR of 6.0% during the forecast period. 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. Additionally, the growth in emerging markets, increasing demand for personalized medicine, and a shift from plant-derived to genome-based drug discovery are also expected to provide significant growth opportunities for market players during the forecast period. However, the presence of alternative technologies offering better efficiency & results and time-consuming operations with limited sample analysis are factors restraining the growth of this market to a certain extent during the forecast
The software segment is expected to grow at the highest rate during the forecast period.
Based on products, the electrophoresis market is segmented into electrophoresis reagents, electrophoresis systems, gel documentation systems, and software.The software segment is projected to witness the highest growth in the electrophoresis market during the forecast period.
This can be attributed to the increasing use of software solutions for data acquisition, quantization, and analysis. These solutions offer the advantage of the ease of use in tandem with gel documentation systems, along with the easy storage of data.
The diagnostics segment is expected to grow at the highest rate during the forecast period.
Based on application, the electrophoresis market is segmented into research, diagnostics, and quality control & process validation.The diagnostics segment is projected to witness the highest growth in the electrophoresis market during the forecast period.
This is due to the increasing use of electrophoretic techniques in clinical diagnostics tests such as hemoglobin testing, multiple myeloma testing, blood alcohol measurement, and testosterone level measurements. Along with the use in assessing protein expression profiles and disease-specific biomarkers for disease identification is aiding the rapid growth of this segment.
The hospitals & diagnostic centers segment is expected to grow at the highest CAGR during the forecast period.
Based on end users, the electrophoresis market is segmented into academic & research institutes, hospitals & diagnostic centers, pharmaceutical & biotechnology companies, and other end users (CROs, forensic laboratories, and food testing laboratories).The hospitals & diagnostic centers segment is projected to witness the highest growth rate during the forecast period.
The growing prevalence of immunodeficiency diseases and the rising incidence of serum protein disorders (such as liver diseases) are expected to drive the utilization of electrophoresis systems in this end-user segment during the forecast period. This can be attributed to the increasing use of electrophoresis in the analysis of plasma, enzymes (ALP, LDH, and CK), proteins, urine, lipoproteins, hemoglobin, serum, and cerebrospinal fluids.
The APAC is projected to witness the highest growth during the forecast period.
Even though North America is expected to account for the largest share of the global electrophoresis market in 2019, APAC is expected to witness the highest CAGR during the forecast period.Factors such as the increasing investments by governments and industries, growing biotechnology research in these regions, and rising awareness about personalized therapeutics are expected to drive the growth of the market during the forecast period.
Furthermore, the increasing focus on the Asia Pacific market due to their low-cost manufacturing advantage also provides growth opportunities for manufacturers. The key players in this market have shifted their focus to the emerging economies in these regions, focusing on expansions and acquisitions in order to garner a greater market share in the upcoming years.
A breakdown of the primary participants referred to for this report is provided below:
• By Company Type: Tier 1–48%, Tier 2–34%, and Tier 3–18%
• By Designation: C-level–42%, D-level–40%, and Others–18%
• By Region: North America–38%, Europe–25%, Asia Pacific–30%, Latin America–5%, and the Middle East & Africa–2%
The prominent players in the electrophoresis market are Thermo Fisher Scientific, Inc. (US), Agilent Technologies, Inc. (US),GE Healthcare (US), Bio-Rad Laboratories, Inc. (US), Danaher Corporation (US), Merck Group (Germany), PerkinElmer, Inc. (US), QIAGEN N.V. (Netherlands), Lonza Group LTD (Switzerland), Harvard Bioscience, Inc. (US), Sebia Group, Shimadzu Corporation (Japan), and C.B.S. Scientific Company, Inc. (US).
Research Coverage:
The report analyzes the market for various electrophoresis products and their adoption pattern.It aims at estimating the market size and future growth potential of the market and the different segments such as product, application, and end user.
The report also includes an in-depth competitive analysis of the key players in this market along with their company profiles, product & service offerings, and recent developments.
Reasons to Buy the Report
The report will enrich established firms as well as new entrants/smaller firms to gauge the pulse of the market, which, in turn, would help them to garner a greater share. Firms purchasing the report could use one or a combination of the below-mentioned five strategies for strengthening their market presence.
This report provides insights on the following pointers:
• Market Penetration: Comprehensive information on the product portfolios offered by the top players in the electrophoresis market.
• Product Development/Innovation: Detailed insights on the upcoming trends, R&D activities, and product or service launches in the electrophoresis market.
• Market Development: Comprehensive information on lucrative emerging regions.
• Market Diversification: Exhaustive information about new products, growing geographies, and recent developments in the global electrophoresis market.
• Competitive Assessment: In-depth assessment of market shares, growth strategies, revenue analysis, and products of the leading players in the electrophoresis market.
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