Electrophoresis Market Outlook - 2023

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Market size is expected to develop revenue and exponential market growth at a remarkable CAGR during the forecast period

Electrophoresis Market

The global electrophoresis market is experiencing robust growth, with revenues estimated at $3.1 billion in 2023. This market is projected to continue expanding at a Compound Annual Growth Rate (CAGR) of 5.7% from 2023 to 2028. The market's growth is driven by various factors, including industry-academia research collaborations and an increasing number of clinical, forensic, and research laboratories. However, safety concerns related to electrophoresis reagents pose a challenge, while the demand for personalized medicines presents significant growth opportunities.

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Driving Forces: Growing Industry-Academia Research Collaborations

Electrophoresis plays a crucial role in proteomic and genomic research conducted by academic and research institutes. It is also indispensable in diagnosing diseases and ensuring the quality control of pharmaceutical and biotechnology products. To promote awareness of new analytical technologies among students and researchers, market players are actively collaborating with academic institutions.

For example, in August 2022, SciGenom Labs, a genomics company based in India and the US, announced a unique Ph.D. program in collaboration with CHARUSAT University to support research in genomics, proteomics, microbiome disciplines, and bio-nanotech. Similar collaborative research projects and initiatives are expected to launch in the coming years, further boosting the market. Companies are also providing technical and financial assistance to university researchers to commercialize their projects, which will positively impact market growth.

Opportunities: Increasing Demand for Personalized Medicines

Personalized medicine is at the forefront of research in the healthcare industry, transforming disease identification, classification, and treatment. This is particularly evident in oncology, where personalized medicine is revolutionizing therapy selection and patient outcomes. The growing demand for personalized medicine is expected to drive the adoption of electrophoretic systems in drug development processes.

For instance, in October 2021, 4baseCare, a precision oncology company based in India, collaborated with Cellworks Group, Inc., a US-based leader in personalized medicine for oncology and immunology. This collaboration aimed to provide enhanced insights to the oncology community, predict patient therapy responses, and optimize treatment outcomes.

Challenges: Ensuring High Procedural Efficiency for Accurate Results

Electrophoresis demands a complex blend of analytical expertise, meticulous manual handling, dexterity, and strict protocol adherence to yield reliable results. The gel concentration must be precisely controlled to avoid errors, as deviations can cause DNA fragments to migrate too slowly or quickly, resulting in reading errors. Voltage stability during electrophoresis runs is essential, as fluctuations can lead to inconsistent DNA fragment migration and band misinterpretation. Additionally, the buffer solution must maintain the correct pH and ionic concentration to prevent alterations in DNA fragment shape and migration times.

Market Ecosystem

Prominent companies in the electrophoresis market include Thermo Fisher Scientific Inc. (US), Bio-Rad Laboratories (US), Merck Group (Germany), Agilent Technologies (US), and Danaher Corporation (US). These established manufacturers offer a wide range of electrophoresis systems, reagents, gel documentation systems, and software. They possess extensive product portfolios, state-of-the-art technologies, and robust global sales and marketing networks.

Segment Insights

  • Product: In 2022, the software segment is expected to observe the highest growth rate in the electrophoresis market. This growth can be attributed to user-friendly workflows that guide users through the analysis process, simplifying the identification of significantly changing proteins.

  • End User: Academic and research institutes are expected to dominate the market, driven by increased research activities in drug design, proteomics, genomics, sequencing, biomarker discovery, and personalized medicine.

  • Region: North America is poised to lead the electrophoresis market during the forecast period. Government initiatives to promote research, the need to combat cancer, and public-private partnerships in genomics and proteomics research are contributing factors.

Download PDF Brochure-https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=434

In conclusion, the global electrophoresis market is on a trajectory of steady growth, driven by research collaborations, rising demand for personalized medicines, and innovations in procedural efficiency. Despite challenges in ensuring accuracy, the market is expected to thrive, with key players continuing to dominate the landscape.

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