Electrophoresis Market: Current Analysis and Forecast (2022-2028)
Emphasis on Type (Electrophoresis Systems, Electrophoresis Reagents, Gel Documentation Systems and Software, and Imaging); Application (Diagnostics, Research, Quality Control, and Others); End User (Academic & Research Centers, Pharmaceuticals & Biotechnology, and Hospitals & Diagnostic Centers); and Region/Country
Global Electrophoresis Market is expected to grow at a significant rate of around 6% during the forecast period. Electrophoresis is defined as the movement of a charged particle in a medium in the presence of an electric field. Numerous crucial biological components, including amino acids, peptides, proteins, nucleotides, and nucleic acids, include ionizable groups and hence exist as electrically charged species (anions or cations) in solution at any given pH. In recent years, the demand for electrophoresis systems and reagents has risen dramatically due to the rising adoption of the consumables coupled with the increasing application of electrophoresis in the field of proteomics, genomics, drug discovery, antibody production, personalized medicine etc. Along with this, the factors such as the increasing prevalence of chronic diseases, new product launches, along with growing collaborations & partnerships among the leading players and academic institutes are also attributing to the growth of the electrophoresis market. For instance, in September 2021, SCIEX announced the launch of capillary electrophoresis solution, the “BioPhase 8800 system”, which is a state-of-the-art product. The system is an innovative, cutting-edge multi-capillary device that can process eight samples simultaneously while guaranteeing sample consistency and delivering accurate findings.
Bio-Rad Laboratories, GE Healthcare, Thermo Fisher Scientific, Inc., Danaher Corporation, Agilent Technologies, Merck Group, PerkinElmer, Inc., Harvard Bioscience, QIAGEN N.V., and Lonza Group Ltd. are some of the key players in the market. Several M&As along with partnerships have been undertaken by these players to facilitate customers with hi-tech and innovative products/technologies.
Insights Presented in the Report
“Amongst type, electrophoresis reagent category to dominate the market during the forecasted period”
Based on type, the market is segmented into electrophoresis systems, electrophoresis reagents, gel documentation systems and software, and imaging. The electrophoresis reagents segment is dominating the market and is expected to grow significantly during the forecast period owing to the growing adoption of the consumables coupled with the increasing application of electrophoresis in the field of proteomics, genomics, drug discovery, antibody production, personalized medicine etc. Along with this, the market for electrophoresis is expanding due to factors including the rising frequency of chronic diseases, increasing product launches, and partnerships and collaborations between top companies and academic institutions. Further, the electrophoresis systems are further sub-segmented into gel electrophoresis systems and capillary electrophoresis systems.
“Amongst application, the research segment to hold a significant share in the market in 2020”
On the basis of application, the market is categorized into diagnostics, research, quality control, and others. Among these, the research segment held a significant share of the market in 2020. This is mainly due to the increasing application of electrophoresis in drug discovery, genomics, and proteonomics. Along with this, the growing adoption of next-generation sequencing and the identification of biomarkers is also expected to improve the adoption rate of electrophoresis and consumables in the research field.
“Amongst end user, the academic & research segment held a significant share in the market in 2020”
Based on end user, the electrophoresis market is segmented into academic & research centers, pharmaceuticals & biotechnology, and hospitals & diagnostic centers. The academic & research centers held a significant share of the market and due to the high adoption of electrophoresis during the forecast period. This is mainly due to the rising adoption rate of electrophoresis in the field of drug discovery and development, genomics, proteomics, and precision medicine.
“North America to hold a significant share in the market”
In 2020, North America held a significant share of the global electrophoresis market. This is mainly attributed to the increasing investments from the government and private sector along with the rising research and development activities of novel therapies. Further, continuous increase in the incidence rate of chronic diseases including cancer and diabetes, also expected to drive the market growth during the forecast period. Moreover, increasing collaboration and partnerships in the region is also expected to drive the electrophoresis market. For instance, in June 2021, Thermo Fisher Scientific signed an agreement with Advanced Electrophoresis Solutions Ltd with an aim of accelerating therapeutic development using Cutting-Edge Protein Analysis. However, high maintenance cost of equipment is expected to restrict the market growth in the region.
Reasons to buy this report:
- The study includes market sizing and forecasting analysis validated by authenticated key industry experts.
- The report presents a quick review of overall industry performance at one glance.
- The report covers an in-depth analysis of prominent industry peers with a primary focus on key business financials, product portfolio, expansion strategies, and recent developments.
- Detailed examination of drivers, restraints, key trends, and opportunities prevailing in the industry.
- The study comprehensively covers the market across different segments.
- Deep dive regional level analysis of the industry.
Customization Options:
The global electrophoresis market can further be customized as per the requirement or any other market segment. Besides this, UMI understands that you may have your own business needs, hence feel free to connect with us to get a report that completely suits your requirements.
Table of Contents
Research Methodology for the Electrophoresis Market Analysis (2022-2028)
Analyzing the historical market, estimating the current market, and forecasting the future market of the global electrophoresis market were the three major steps undertaken to create and analyze the adoption of electrophoresis in major regions globally. Exhaustive secondary research was conducted to collect the historical market numbers and estimate the current market size. Secondly, to validate these insights, numerous findings and assumptions were taken into consideration. Moreover, exhaustive primary interviews were also conducted, with industry experts across the value chain of the global electrophoresis market. Post assumption and validation of market numbers through primary interviews, we employed a top-down/bottom-up approach to forecasting the complete market size. Thereafter, market breakdown and data triangulation methods were adopted to estimate and analyze the market size of segments and sub-segments of the industry pertains to. Detailed methodology is explained below:
Analysis of Historical Market Size
Step 1: In-Depth Study of Secondary Sources:
Detail secondary study was conducted to obtain the historical market size of the electrophoresis market through company internal sources such as annual reports & financial statements, performance presentations, press releases, etc., and external sources including journals, news & articles, government publications, competitor publications, sector reports, third-party database, and other credible publications.
Step 2: Market Segmentation:
After obtaining the historical market size of the electrophoresis market, we conducted a detailed secondary analysis to gather historical market insights and share for different segments & sub-segments for major regions. Major segments are included in the report as type, application, and end user. Further country-level analyses were conducted to evaluate the overall adoption of testing models in that region.
Step 3: Factor Analysis:
After acquiring the historical market size of different segments and sub-segments, we conducted a detailed factor analysis to estimate the current market size of the electrophoresis market. Further, we conducted factor analysis using dependent and independent variables such as various type, application, and end user of electrophoresis. A thorough analysis was conducted for demand and supply-side scenarios considering top partnerships, mergers and acquisitions, business expansion, and product launches in the electrophoresis market sector across the globe.
Current Market Size Estimate & Forecast
Current Market Sizing: Based on actionable insights from the above 3 steps, we arrived at the current market size, key players in the global electrophoresis market, and market shares of the segments. All the required percentage shares split, and market breakdowns were determined using the above-mentioned secondary approach and were verified through primary interviews.
Estimation & Forecasting: For market estimation and forecast, weights were assigned to different factors including drivers & trends, restraints, and opportunities available for the stakeholders. After analyzing these factors, relevant forecasting techniques i.e., the top-down/bottom-up approach were applied to arrive at the market forecast for 2028 for different segments and sub-segments across the major markets globally. The research methodology adopted to estimate the market size encompasses:
- The industry’s market size, in terms of revenue (USD) and the adoption rate of the electrophoresis market across the major markets domestically
- All percentage shares, splits, and breakdowns of market segments and sub-segments
- Key players in the global electrophoresis market in terms of products offered. Also, the growth strategies adopted by these players to compete in the fast-growing market
Market Size and Share Validation
Primary Research: In-depth interviews were conducted with the Key Opinion Leaders (KOLs) including Top Level Executives (CXO/VPs, Sales Head, Marketing Head, Operational Head, Regional Head, Country Head, etc.) across major regions. Primary research findings were then summarized, and statistical analysis was performed to prove the stated hypothesis. Inputs from primary research were consolidated with secondary findings, hence turning information into actionable insights.
Split of Primary Participants in Different Regions
Market Engineering
The data triangulation technique was employed to complete the overall market estimation and to arrive at precise statistical numbers for each segment and sub-segment of the global electrophoresis market. Data was split into several segments & sub-segments post studying various parameters and trends in the areas of type, application, and end user in the global electrophoresis market.
The main objective of the Global Electrophoresis Market Study
The current & future market trends of the global electrophoresis market were pinpointed in the study. Investors can gain strategic insights to base their discretion for investments on the qualitative and quantitative analysis performed in the study. Current and future market trends determined the overall attractiveness of the market at a regional level, providing a platform for the industrial participant to exploit the untapped market to benefit from a first-mover advantage. Other quantitative goals of the studies include:
- Analyze the current and forecast market size of the electrophoresis market in terms of value (USD). Also, analyze the current and forecast market size of different segments and sub-segments
- Segments in the study include areas of type, application, and end user.
- Define and analysis of the regulatory framework for the electrophoresis
- Analyze the value chain involved with the presence of various intermediaries, along with analyzing customer and competitor behaviors of the industry.
- Analyze the current and forecast market size of the electrophoresis market for the major region.
- Major countries of regions studied in the report include Asia Pacific, Europe, North America, and the Rest of the World.
- Company profiles of the electrophoresis market and the growth strategies adopted by the market players to sustain in the fast-growing market
- Deep dive regional level analysis of the industry
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