Electrophoresis Market Opportunities, Top Key Players, Target Audience and Forecast to 2028

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.

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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. Additionally, the increasing demand for point-of-care testing and personalized medicine, technological advancements in electrophoresis techniques and increasing research and development activities are expected to drive the market growth in the coming years. Moreover, the increasing government initiatives to promote the use of electrophoresis techniques, increasing investment in research & development activities by key industry players, and the increasing demand for advanced healthcare diagnostics are likely to further propel the growth of the electrophoresis industry in the near future.

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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Recent Developments:

In 2023, Advanced Electrophoresis Solutions Ltd (Canada) signed Medispec (India) as an exclusive distributor partner in India. This will allow AES' critical solutions to reach many companies located in India.

In 2022, Thermo Fisher Scientific (US) introduced a new Applied Biosystems SeqStudio Flex Series Genetic Analyzer to enable customers' cutting-edge research in areas such as gene editing and infectious disease.

In 2020, Danaher Corporation (US) acquired GE Healthcare Life Sciences (US) and rebranded it as Cytiva. This company will be a $3.3-billion global life sciences company with nearly 7000 employees in 40 countries.

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