The global electrophoresis equipment and supplies market is experiencing innovations, technological advancements, and availability of varied products, states a recent report by Transparency Market Research. The key players in electrophoresis equipment and supplies market are Hoefer Inc., Bio-Rad Laboratories Inc., GE Healthcare Ltd., and Life Technologies Corp. Of these players, the market experienced dominance of Bio-Rad Laboratories Inc., which accounted for over 50% of the overall market in 2012. Bio-Rad Laboratories Inc. is considered one of the most profound and strongest players in the market and has a stronger base and a stronger holding in the market.
The market has also been marked with several new players in the past few years and this has significantly increased the level of competition in the market. As the technologies central to electrophoresis equipment continue to evolve, the market is expected to get stiffer for new entrants. According to the report, the global electrophoresis and supplies market is expected to rise to a valuation of US$1.9 bn by 2019, expanding at a 4.80% CAGR over the forecast period.
Improved Disposable Income a Driver for Asia Pacific Region
Based on technology, the market has been covered in the report for gel electrophoresis market, capillary electrophoresis, and electrophoresis accessories. Of these, the segment of gel electrophoresis presently dominates and is expected to rise to a valuation of US$909.1 mn by 2019. The high demand for the technology can be attributed to its increased usage in the field of genomics.
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According to geography, North America is the leading regional market and has continued to account for the dominant share in the overall market over the years due to increasing rate of innovation and development of new products. Europe stands at the second position, followed by Asia Pacific. It has been observed that emerging economies from Asia Pacific, such as India, China, Brazil, and Mexico, have shown improvement in the healthcare sector owing to rising government interventions and increase in disposable incomes of the population. Since the past few years, a number of companies from North America have outsourced their research for drugs and clinical trials to countries in Europe and Asia Pacific. As a result, the market for electrophoresis equipment and supplies also witnessed steady rise in Europe and Asia Pacific.