Electrophoresis Reagents Market - Growth, Trends, and Forecast (2019 - 2024)
The propelling factors for the growth of the electrophoresis reagents market include the increased funding for genomic and proteomic research, the rising prevalence of chronic diseases, increasing collaborations between industry and academics, and the technological developments.
The prevalence of chronic diseases is expected to increase by 57% by 2020. Additionally, as per WHO, China and India now have the world’s highest number of diabetes sufferers at more than 98 million and 65 million individuals. With the increasing prevalence of chronic diseases, prompt diagnosis and treatment are in need. Therefore, this has given rise to the electrophoresis that is used in the clinical laboratories to quantify the lipoproteins using enzymatic staining of cholesterol and triglycerides for the diagnosis of CVD and other chronic diseases, like diabetes. The electrophoresis is used in the analysis of the lipoproteins and apolipoproteins that are essential for the valuation of the CVD and monitoring of individuals on treatment.
Furthermore, the development of this market is also significantly determined by the expanding research exercises in the fields of proteomics and genomics, changing administrative necessities in the pharmaceutical part, and the developing need to reduce the healthcare expenses.
Moreover, factors like rising per capita income and increasing public healthcare expenditure are also expected to promote the growth of electrophoresis reagents market over the forecast period.
Scope of the Report
As per the scope of the report, electrophoresis is a technique used to separate DNA, RNA, and proteins using an electrical current based on the molecular weight or fragment size. The electrophoresis reagents being used in the electrophoresis technique are known as electrophoresis reagents. This technology is widely used in the fields of medical diagnostics and life sciences and clinical research. The electrophoresis technique uses different reagents, such as dyes, gels, and buffers for the separation of different molecules. Although this technique has been in use for a long time and is considered outdated, with the addition of latest technologies, the market is growing at a steady rate.
Key Market Trends
Gel Electrophoresis is the Largest Segment Under Technique That is Also Expected to Continue During the Forecast Period
Gel electrophoresis segment accounted for the largest market share of electrophoresis reagents market, mainly due to the low operating and instrument cost. It is, thus, being followed by capillary electrophoresis, because of rising applications in the pharmaceutical and biotechnology industries.
Asia-Pacific Region is the Fastest Growing Market and is Expected to Follow the Same Trend Over the Forecast Period
The Asia-Pacific region is expected to dominate the electrophoresis reagents market. In the emerging economies of China, Japan, and India, there has been an increasing number of academic and research institutions, technological advancements, pharmaceutical, and biotechnology companies, and health awareness. The high growth is also majorly attributed to the rapidly improving healthcare infrastructure and low labor costs in emerging countries.
The major players are found adopting various strategies, such as agreements, expansion, contracts, partnerships, new reagent development, joint ventures, and mergers and acquisitions in order to strengthen their position in the electrophoresis reagents market.
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