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Molecular Weight Marker Global Market 2024 - Growth Opportunities, Top Countries, Future Trends, Revenue And Forecast 2033
Molecular Weight Marker Global Market
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According to The Business Research Company's, The molecular weight marker market size has grown rapidly in recent years. It will grow from $0.69 billion in 2023 to $0.78 billion in 2024 at a compound annual growth rate (CAGR) of 12.0%. The growth in the historic period can be attributed to investments in research and development activities, expansion of genomics and proteomics fields, rise in biotechnology applications, and introduction of high-resolution molecular weight markers.
The molecular weight marker market size is expected to see rapid growth in the next few years. It will grow to $1.24 billion in 2028 at a compound annual growth rate (CAGR) of 12.3%. The growth in the forecast period can be attributed to ongoing innovations in molecular biology techniques, the expanding biopharmaceutical industry, with its focus on biologics and biosimilars, rising funding from governments, expansion of research infrastructure in developing countries, and growing emphasis on personalized medicine. Major trends in the forecast period include technological advancements in molecular biology, the introduction of high-resolution molecular weight markers, and the development of more precise and user-friendly molecular weight markers.
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Market Drivers and Trends:
The growing adoption of personalized medicine is expected to propel the growth of the molecular weight marker market going forward. Personalized medicine refers to a medical care philosophy that aims to tailor medicines and interventions to the particular requirements of each patient. The adoption of personalized medicine is due to the rapid growth of omics technology, data integration, genetics, and an awareness of the significance of tailored patient-specific medications and preventive actions. Molecular weight markers offer a powerful platform for advancing personalized medicine by enabling comprehensive proteomic analysis, facilitating biomarker discovery, improving drug development and response understanding, and supporting the creation of personalized therapeutic strategies. For instance, in February 2024, according to the Personalized Medicine Coalition, a US-based non-profit organization, the FDA approved 16 novel personalized therapies for patients with rare diseases in 2023, compared to six in 2022. Therefore, the growing adoption of personalized medicine will drive the growth of the molecular weight marker market.
Major companies operating in the molecular weight markers market are focused on developing innovative products, such as monoclonal primary antibodies, to sustain their position in the market. A monoclonal primary antibody refers to an antibody that is derived from a single clone of cells, all producing antibodies that bind to the same epitope (specific region) on an antigen (target molecule). For instance, in October 2022, F. Hoffmann-La Roche AG, a Switzerland-based pharmaceutical company, launched the PRAME (EPR20330) antibody to detect the expression of PRAME protein in patients suspected of having melanoma. This innovative antibody is specifically designed to identify PRAME protein expression in patients, which is crucial for diagnosing and monitoring melanoma, a potentially deadly form of skin cancer. This advancement enhances diagnostic precision and opens doors to more personalized treatment strategies, ultimately improving patient care and outcomes in melanoma management.
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Major Key Players of the Market:
Thermo Fisher Scientific Inc., Roche Holding AG, Merck KGaA, Avantor, Agilent Technologies Inc., Lonza Group AG, Sigma-Aldrich, PerkinElmer, Bio-Rad Laboratories, QIAGEN N.V, Bio-Techne, VIAVI Solutions Inc., Thorlabs Inc., Promega Corporation, Takara Bio, New England Biolabs, BBI Solutions, Avantes BV, SERVA Electrophoresis, Enzo Life Sciences, Carl Zeiss AG, Raptor Photonics, Magritek Ltd
Molecular Weight Marker Market 2024 Key Insights:
• The molecular weight marker market size is expected to see rapid growth in the next few years. It will grow to $1.24 billion in 2028 at a compound annual growth rate (CAGR) of 12.3%.
• Increasing Demand For Personalized Medicine To Drive The Molecular Weight Marker Market
• Roche Launches PRAME (EPR20330) Antibody To Identify PRAME Protein Expression In Patients Suspected Of Having Melanoma
• North America was the largest region in the molecular weight marker market in 2023
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