The global electrophoresis market is projected to reach USD 2.80 billion by 2022 from USD 2.15 billion in 2017, at a CAGR of 5.4 percent. The growth of this market is majorly driven by the increasing research activities in the fields of proteomics and genomics, changing regulatory requirements in the pharmaceutical sector, and the growing need to curtail healthcare costs. According to MarketsandMarkets, in 2016, the research applications segment accounted for the largest share of the market. The largest share of this segment is attributed to the increasing application of electrophoresis in the field of drug discovery; technological advancements such as automated electrophoresis systems and microchip-based CE diagnostics have revolutionized the application of electrophoresis in research.
In 2016, the academic and research institutes segment accounted for the largest share of the market. This can be attributed to the increasing R&D spending, global rise in the number of biotechnology and life science research studies, and growing public and private investments in research studies.
In 2016, North America held the largest share of this market, and this is primarily attributed to the growing focus of stakeholders on research projects involving proteins, associated biomolecules, and genes; stringent regulatory requirements regarding pharmaceutical manufacturing necessitating quality control and process validation processes; rising focus on the development of structure-based drug designs; and growing research activities in the fields of genomics and proteomics.