Electrophoresis Market

Electrophoresis Market Size (2023 to 2028)

The size of the global electrophoresis market is estimated to be worth USD 3.26 billion by 2028 from USD 2.5 billion in 2023, growing at a CAGR of 5.4% from 2023 to 2028. 

MARKET DRIVERS:

The emergence of the latest technologies and the launch of innovative devices are expected to drive the global electrophoresis market.

Increasing demand for genomics applications and the rise in investments in research centers are propelling market growth. The growing tendency for artificial chromosome libraries and even demands genetic mapping significantly influence the growth of the market. Also, increasing support from the government to develop quality treatment procedures is accelerating the market's growth. Furthermore, the electrophoresis market is fuelled by the growing prevalence of the analysis of vaccines and drugs in the pharmaceutical industry. Furthermore, the rise in the prevalence of chronic diseases like infectious diseases, cancer, and genetic disorders drives the Global Electrophoresis Market. The healthcare organization's growing investments in research and development techniques like genomic, proteomic, and electrophoresis techniques boost the market growth. The rise in Next Level Sequencing (NGS) usage and increased capillary electrophoresis with mass spectroscopy propel the market growth. Moreover, many industries and academic research institutes collaborate and integrate innovations in biochemical, molecular, and biological research to develop an effective treatment, fueling the market. Further, the increase in the Prominence of Nanoproteomics is another factor demanding market growth.

The increase in the usage of Electrophoresis techniques in emerging countries like China, India, etc., is expected to boost the market in coming years. The rise in the number of clinical, forensic, and research laboratories boosts the market. Moreover, the move from plant-derived to genome-based drug discovery is estimated to propel the market. The increasing demand for personalized medicine is a significant opportunity for the Electrophoresis Market.

MARKET RESTRAINTS:

The high cost associated with the instruments and reagents is restraining the market growth. The presence of alternative technologies providing better efficiency and results hinders the Electrophoresis Market. Moreover, the limited sample analysis and time-taking operations are hammering the market. Heavy usage of hazardous chemicals used with electrophoresis may affect the patient, available on Electrophoresis Instruments. So, Safety is the only and significant challenge for the electrophoresis market.

Impact of COVID-19 on the global electrophoresis market:

COVID-19 was caused by severe acute respiratory syndrome coronavirus 2 (SARS-CoV-2), an infectious disease. COVID-19 has left a positive impact on the electrophoresis market. Electrophoresis is basically used to separate DNA, RNA, or protein molecules based on their sizes, the electrophoresis method is used to develop effective therapies for COVID-19, which boosted the Electrophoresis Market during the pandemic.

REPORT COVERAGE:

This research report on the global electrophoresis market has been segmented and sub-segmented into the following categories.

Electrophoresis Market - By Product:

• Gel Electrophoresis
  • Horizontal
  • Vertical
• Capillary Electrophoresis
• Reagents
• Geldoc
• Imaging

Based on Product, the electrophoresis reagents are held a significant share of the market in terms of products and growing at a CAGR of 6.13% during the forecast period. The rise in the demand for consumables with electrophoresis systems in the research field for drug discovery, proteomics, genomics, and personalized medicine drives electrophoresis reagents. Also, the electrophoresis reagent's limitless demand in laboratory applications is boosting this segment. Further, Gel Electrophoresis is expected to grow faster during the forecast period.

Electrophoresis Market - By Application:

• Diagnostic
• Research
• Quality Control

Based on the application, the diagnostic application dominates the market shares during the forecast period. The rise in electrophoretic techniques in clinical diagnostics tests such as hemoglobin testing, blood alcohol measurement, etc., is driving the Electrophoresis Diagnostic application. The Electrophoresis Research segment is estimated to grow fast during the forecast period due to its widening application of electrophoresis in drug discovery.

Electrophoresis Market - By End Users:

• Academic and Research Institutes
• Pharmaceutical & Biotechnology Companies
• Hospitals & Diagnostic Centers

Based on end-users, the hospitals and diagnostic centers segment is predicted to hold a significant share of end-users. Academic and research institutes are expected to grow the fastest. Increasing the construction of hospitals with a rise in funds from private and public organizations is escalating the growth of the electrophoresis market.

Electrophoresis Market - By Region:

• North America
• Europe
• Asia Pacific
• Latin America
• The Middle East and Africa

Geographically, North America accounted for the largest share of the global electrophoresis market in 2022 and the domination of the regional market is expected to continue throughout the forecast period owing to the growing disposable income among the people in North America. Also, the quick adoption of advanced technology is making the market move forward. The increase in innovation in electrophoresis techniques, the rise of private and government funding for research on proteins and genes, and the presence of key market players drive the North American electrophoresis market. 

The Asia Pacific is positioned second in leading the highest shares of the market with the rising geriatric population. The market is expected to grow at a CAGR of 6.72% during the forecast period. The growing investments in pharmaceutical and biotechnology companies, the rise in awareness about personalized therapeutics, the low cost of manufacturing, and increasing research activities in mAbs-based therapeutics are driving the Asia pacific electrophoresis market.

Europe has been growing faster in past years and is expected to continue the same flow in the near future. The UK electrophoresis market holds the highest shares owing to constant economic growth over the past few years. Germany's electrophoresis market is positioned second due to the development of new products with advanced technologies.

Latin America, and Middle East & Africa are expected to have significant growth opportunities in the coming years.

KEY MARKET PARTICIPANTS:

Some of the notable players dominating the global electrophoresis market profiled in the report are Bio-Rad Laboratories, GE Healthcare, Thermo Fisher Scientific Inc., Danaher Corporation, Agilent Technologies, Merck Millipore, PerkinElmer, QIAGEN N.V., Lonza Group Ltd., Shimadzu Corporation, Harvard Bioscience, Serbia Group, and C.B.S. Scientific Company.