Electrophoresis Market in terms of revenue was estimated to be worth $3.1 billion in 2023 and is poised to reach $4.1 billion by 2028, growing at a CAGR of 5.7% from 2023 to 2028 according to a new report by MarketsandMarkets™. The growth of this market is majorly driven by riding funding for proteomics & genomics research, and growing use of NGS and declining cost of DNA sequencing. Furthermore, growing prominence of nanoproteomics is expected to drive the growth of electrophoresis market.
The electrophoresis industry is expected to experience significant growth in the near future due to increasing demand for accurate and reliable diagnostic tests. The market is anticipated to witness significant growth due to increasing prevalence of chronic diseases and growing awareness about preventive healthcare.
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Electrophoresis reagent segment is expected to account for the largest share in 2022.
Electrophoresis is an electrokinetic process that separates charged particles in a fluid using a field of electrical charge. The electrophoresis market, by product, has been segmented into electrophoresis reagents, electrophoresis systems, gel documentation systems and software. Increasing demand for 2D electrophoresis for protein separation for biomarker discovery and protein mapping is expected to drive the electrophoresis market.
The research segment held the largest market share in the electrophoresis market.
By application, the global electrophoresis market is broadly segmented into research, diagnostic, and quality control & process validation. Technological advancements such as automated electrophoresis systems and microchip-based CE diagnostics have revolutionized the application of electrophoresis in research.
North America dominates the global electrophoresis market
Based on the region, the electrophoresis market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa. North America market is driven by growing focus on biomarker discovery and increasing research in the field of structure-based drug design and therapeutic mAbs. Europe is the second-largest market for electrophoresis, characterized by increasing R&D activities, and high growth in the pharmaceutical & biological industries.
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Electrophoresis Market Dynamics:
Drivers:
1. Rising funding for proteomics and genomics research
2. Growing industry-academia research collaborations
3. Growing use of NGS and declining cost of DNA sequencing
4. Increasing number of clinical, forensic, and research labs
5. Rising incidence of cancer, infectious diseases, and genetic disorders
6. Growing prominence of nanoproteomics
Restraints:
1. Presence of alternative technologies offering better efficiency and results
2. Time-consuming operations and limited sample analysis
Opportunities:
1. High growth opportunities in developing countries
2. Increasing demand for personalized medicines
3. Shift from plant-based to genome-based drug discovery
Challenges:
1. Safety concerns associated with electrophoresis reagents
2. Need for high procedural efficiency to ensure accurate results
Key Market Players:
Major players in electrophoresis market include Bio-Rad Laboratories Inc. (US), Thermo Fisher Scientific Inc. (US), Danaher Corporation (US), Merck KGaA (Germany) and Agilent Technologies, Inc. (US).
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