Electrophoresis Reagents Market Overview
The Electrophoresis Reagents market size is estimated to reach $1.46 billion by 2026, growing at a CAGR of 5.7% during the forecast period 2021-2026. Electrophoresis is a laboratory technique in which an electric current is used to separate protein, RNA or DNA molecules. Some of the major reagents used in the electrophoresis process include Agarose gel, TBE buffers, Bromophenol Blue and Starch gels. Electrophoresis is used by various healthcare facilities for applications like DNA & RNA analysis, and Protein Analysis. The rising applications of Next Generation Sequencing (NGS) and growth in public and private investment in the healthcare sector of developing regions are anticipated to drive the market during the forecast period. However, lack of adequate regulations and quality standards regarding the manufacture of reagents act as a challenge for the Electrophoresis Reagents industry.
Electrophoresis Reagents Market Segment Analysis-By Technique
Based on Technique, the Electrophoresis Reagents Market is segmented into Gel Electrophoresis, Capillary Electrophoresis, Electrophoresis Software and Other techniques. The Gel Electrophoresis segment is anticipated to have the largest share of the market and is poised to dominate the market during the forecast period 2021-2026. Moreover, the segment is also projected to grow the fastest at a CAGR of 6.1% during the forecast period. This rapid growth is attributed to the fact that gel technique enables easy processing of DNA molecules and also allows them to be recovered without risk of denaturing the DNA samples. Furthermore, the growing applications of gel electrophoresis in forensic sciences is further contributing to the development of the market. For instance, gel electrophoresis can be used for the process of DNA fingerprinting.
Electrophoresis Reagents Market Segment Analysis-By End User
The Electrophoresis Reagents Market based on End User can be further segmented into Pharmaceutical & Biotechnological Companies, Hospitals & Clinics, Academic Institutes& Research Laboratories, Forensic Laboratories and Others. The Pharmaceutical & Biotechnological Companies segment accounted for the largest share of the market in 2020 owing to the rise in private and public R&D expenditure. This can be attributed to the Covid-19 pandemic and the emergence of new variants of the virus. Electrophoresis’ ability to separate DNA and RNA play a major role in viral research and development of effective therapies for the virus. The Hospitals & Clinics segment is also anticipated to witness significant growth at a CAGR of 6.3% during the forecast period owing to the increase in the prevalence of chronic diseases such as cancer, diabetes, and cardiovascular disorders.
Electrophoresis Reagents Market Segment Analysis-By Geography
The Electrophoresis Reagents Market based on Geography can be segmented into North America, Europe, Asia-Pacific, South America, and Rest of World. The North American segment is projected to dominate the Electrophoresis Reagents market during the forecast period 2021-2026 with a market share of 32% owing to the presence of highly developed healthcare infrastructure, surging incidences of chronic and communicable diseases, and growing geriatric population in the region. Moreover, the presence of key industry players such as Thermo Fisher Scientific, Sigma-Aldrich Corporation, Bio-Rad Laboratories, Merck Millipore, GE Healthcare and Agilent Technologies in the region ensures lower costs, higher innovation, and greater frequency of new product launches in the region. The Asia-Pacific region is anticipated to grow the fastest during the forecast period owing to the growth in academic & research institutes, pharmaceutical & biotechnology companies and healthcare expenditure in emerging economies such as China, Indonesia and India.
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Electrophoresis Reagents Market Drivers
Increase in Global Research Expenditure is Projected to Drive Market Growth
The increase in public and private expenditure on R&D by global biopharmaceutical companies and research institutes is driving the market for electrophoresis reagents. For instance, the R&D expenditure of pharmaceutical research and manufacturers of America (PhRMA) member companies increased from $48.6 billion in 2011 to $91.1 billion in 2020. According to the US Congressional Budget Office (CBO), the number of new drugs approved for sale rose by 60% between 2010 and 2019. Pharmaceutical company Pfizer increased their R&D expenditure to $9.4 billion in 2020 from $8.65 billion in 2019. This rise in R&D will increase demand as electrophoresis is necessary for various fields such as drug discovery, cancer research and virus research.
Rise in Chronic Illnesses is Anticipated to Boost Product Demand
The surge in chronic illnesses such as cancer, diabetes and cardiovascular diseases is driving the market for Electrophoresis Reagents. Around 463 million adults between the ages of 20 and 79 were living with diabetes in 2019. This is projected to reach 700 million by 2045. The disease resulted in 4.2 million deaths and $760 billion in healthcare expenditure in 2019. Moreover, around 19.3 million new cancer cases and 10 million cancer deaths took place globally in 2020. Furthermore, according to WHO, Cardiovascular diseases are the leading cause of death globally, taking an estimated 17.9 million lives each year. Electrophoresis Reagents are essential for studying such diseases and also for diagnosing cancers such as multiple myeloma.
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Electrophoresis Reagents Market Challenges
The Various Limitations of Electrophoresis is Anticipated to Hamper Market Growth
The various limitations and disadvantages of current electrophoresis and reagent technology act as a major challenge for generating demand. For instance, the process of gel electrophoresis may cause the gel reagent to melt when electric current is passed through them. This may result in increased risk of causing the genetic material to change shape. Moreover, Gel electrophoresis technique also has a low throughput. This means that the data is not generated rapidly as only a small handful of RNA molecules can be looked at a time. Researchers are therefore using faster alternatives such as Polymerase Chain Reaction (PCR) technique, which can can simultaneously assess thousands of samples.
Lack of Adequate Hospitals and Research Facilities is Projected to Limit Growth Opportunities
The lack of adequate hospitals, doctors, research facilities, and pharmaceutical organizations in low and middle-income countries is challenging the demand for Electrophoresis Reagents as they are some of the primary end users of the product. For instance, the number of physicians per million population in developing regions such as Cameroon, Zimbabwe, Ghana and Guinea are 80, 83, 96, and 100 respectively. This is much lower than the developed countries like the US or Spain, whose physicians per capita values are 2600 and 3900 per million respectively. The lack of adequate doctors, research facilities and hospitals can be attributed to the low healthcare expenditure of these countries. For instance, according to the WHO database, the annual per capita healthcare expenditure in South Africa and Bangladesh was only $525.9 and $41.9 respectively. This is extremely low compared to developed countries such as the US who spent around $10623.8 per capita.
Electrophoresis Reagents Market Industry Outlook:
Product launches, mergers and acquisitions, joint ventures, and geographical expansions are key strategies adopted by players in the Electrophoresis Reagents Market. Top 10 companies of the industry include:
Thermo Fisher Scientific
Sigma-Aldrich Corporation
Bio-Rad Laboratories, Inc
Lonza Group
QIAGEN N.V.
Merck Millipore
GE Healthcare
Agilent Technologies, Inc.
Sebia Group
Takara Bio Inc
Partnerships/Product Launches:
In September 2020, Hitachi High-Tech Corporation announced the launch of the Hitachi DS3000 compact capillary electrophoresis (CE) sequencer will be released for sale in Japan, China, South Korea and Taiwan. The new sequencer provides superior performance and processing in a compact form, owing to its capillary and laser-irradiation technologies.
In November 2019, Thermo Fisher Scientific announced the introduction of their latest forensic laboratory-qualified capillary electrophoresis platform. It is designed for small to medium-sized forensic DNA analysis and has been validated according to Scientific Working Group on DNA Analysis Methods (SWGDAM) guidelines across a broad range of Applied Biosystems STR Amplification Kits.
Key Takeaways
Geographically, the North American Electrophoresis Reagents market accounted for the largest share in 2020 owing to an increase in R&D expenditure and improving research infrastructure in the region.
An increase in the prevalence of chronic diseases is driving the demand for Electrophoresis Reagents. However, the lack of adequate research institutes and laboratories in developing regions is challenging the demand generation.
Detailed analysis on the Strength, Weakness, and Opportunities of the prominent players operating in the market will be provided in the Electrophoresis Reagents Market Report.
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