The global capillary electrophoresis market size is poised to grow by USD 300.97 million during 2020-2024, progressing at a CAGR of almost 7% throughout the forecast period, according to the latest report by Technavio. The report offers an up-to-date analysis regarding the current market scenario, latest trends and drivers, and the overall market environment. The report also provides the market impact and new opportunities created due to the COVID-19 pandemic.
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The global capillary electrophoresis market is driven by the increase in
R&D expenditure. The global expenditure on R&D has witnessed consistent
growth over the last 10 years. With the economies of developing countries
growing faster than ever before, these countries are expected to have more
research facilities and institutes being set up over the next five years. The
upsurge in the number of research and testing facilities, particularly in the
field of pharmaceutical and biotechnology, will lead to a rise in demand for
laboratory analysis techniques and equipment such as capillary electrophoresis
instruments.
Report Highlights:
- The major capillary
electrophoresis market growth came from the academic institutes and CROs
segment in 2019, and it is expected to witness the fastest growth during
the next five years. This is primarily because of the increased research
activities for drug discovery.
- North America was the
largest capillary electrophoresis market in 2019, and the region will
offer several growth opportunities to market vendors during the forecast
period. This is attributed to the increasing adoption of highly advanced
capillary electrophoresis techniques by the pharmaceutical and
biotechnology industries.
- The global capillary
electrophoresis market is fragmented. Agilent Technologies Inc., Bio-Rad
Laboratories Inc., Danaher Corp., Helena Laboratories Corp., Lumex
Instruments, PerkinElmer Inc., Promega Corp., QIAGEN NV, SEBIA SA, and
Thermo Fisher Scientific Inc. are some of the major market participants.
To help clients improve their market position, this capillary
electrophoresis market forecast report provides a detailed analysis of the
market leaders.
- As the business impact of
COVID-19 spreads, the capillary electrophoresis market
2020-2024 is
expected to witness neutral growth. As the pandemic spreads in some
regions and plateaus in other regions, we continue to revaluate the impact
on businesses and update our report forecasts.
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Increasing Popularity of Lab-on-a-Chip Technology will be a Key Market
Trend
The increasing popularity of lab-on-a-chip technology is one of the
latest trends that will gain traction in the global capillary electrophoresis
market. This miniaturized device accommodates one or several analyses done in a
lab onto a single chip and provides numerous advantages such as ergonomy,
diagnostic speed, cost efficiency, and sensitivity. The technology is combined
with electrophoresis and used to separate proteins and other molecules taking
much lesser time to analyze compared to the conventional methods. Therefore,
the plus points provided by the technology will lead to increased use of
capillary electrophoresis instruments in the future, which in turn, will boost
the capillary electrophoresis market size.
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