Market Trends of Electrophoresis Reagents Industry
This section covers the major market trends shaping the Electrophoresis Reagents Market according to our research experts:
Gel Electrophoresis Segment is Expected to Hold a Major Market Share Over the Forecast Period
The major factors driving the gel electrophoresis segment include low operating and instrument costs, rising applications in the pharmaceutical and biotechnology industries, and the increasing burden of infectious diseases, cancer, and genetic disorders. For instance, as per the National Breast Cancer Foundation Inc., data published in June 2022 mentioned that by 2022, an estimated 287,500 new cases of invasive breast cancer is expected to be diagnosed in women in the United States and as well as 51,400 new cases of non-invasive breast cancer. The report also mentioned that an estimated 2,170 men are diagnosed with breast cancer in 2022 in the United States. Additionally, the MDPI article in July 2022 mentioned that 45.4% of breast cancer cases are diagnosed in Asian countries. Such a high prevalence of cancer across various regions worldwide is expected to drive the demand for effective research and developments for the production of appropriate therapeutics and diagnostics, thereby ultimately boosting the growth of the studied segment.
According to the study published in the PLOS ONE Journal in May 2022, a gel electrophoresis technique was used to identify many proteins that are significant for improved characterization of tumor progression and molecular specificity of both lung cancer subtypes. As a result of gel electrophoresis, it is possible to distinguish proteins from tumor cells, which aids in tumor diagnosis and may contribute to the segment's growth.
The growing technological advancement and product launches by the market players are expected to boost the market segment's growth further. For instance, in September 2022, miniPCR bio, a developer of scientific equipment for researchers, unveiled the BanditTM STEM Electrophoresis Kit, an educational electrophoresis device. Bandit is a low-cost STEM activity kit that allows kids to build and operate a functioning gel electrophoresis device. Thus, the launches of innovative gel electrophoresis reagents by key market players are expected to contribute to the growth of the studied segment.
North America is Expected to Hold a Notable Market Share in the Electrophoresis Reagents Market
North America is expected to hold a significant market share over the forecast period. The major factors driving the market growth in North America include the increasing number of genomic research projects; the growing prevalence of chronic diseases; collaborations between industry and academia; cumulative research and development expenditure; the presence of a large number of major players; product launches; and technological advancements. The prevalence of cancer and infectious diseases is expected to drive market growth. For instance, according to the American Cancer Society Inc., data published in 2022, in 2021, an estimated 1.9 million new cancer cases were diagnosed in the United States. In addition, according to the Public Health Agency of Canada data published in October 2021, approximately 2 in 5 Canadians were diagnosed with Cancer in their lifetime. In 2021, an estimated 229,000 Canadians were diagnosed with Cancer. The report also mentioned that lung, breast, colorectal, and prostate cancers were expected to remain the most commonly diagnosed cancers, accounting for nearly 46% of all cancer diagnoses in 2021. Likewise, the CDC updated in September 2021 reported that approximately 6.5 million people aged 40 and older in the United States have the peripheral arterial disease. Also, as per the February 2022 report from the Heart and Stroke Foundation of Canada, 750,000 people are living with heart failure, and 100,000 people are diagnosed with heart failure each year in Canada. Such a high prevalence of chronic disorders leading to driving demand for the development of effective therapeutics and diagnostics in North American countries is expected to contribute to the growth of the market.
Additionally, the launch of innovative products to meet the growing demand for effective therapeutics and diagnostics is also expected to contribute to the growth of the market in this region. For instance, in October 2021, Promega launched Sanger Sequencing Chemistry compatible, ProDye terminator sequencing reagent brings to any size laboratory. This can be implemented on any CE instrument, including the benchtop spectrum compact CE system.
Thus, the above-mentioned factors, such as rising chronic disorders, technological advancements, increasing product launches, and the presence of major market players, are expected to contribute to the market's growth in this region.
