COVID-19 IMPACT ANALYSIS ON GLOBAL ELECTROPORATION INSTRUMENT MARKET
The exclusive COVID-19 impact analysis report by Axiom MRC provides a 360 degree analysis of micro and macro-economic factors on the global electroporation instruments market. In addition, complete analysis of changes on the global electroporation instruments market expenditure, economic and international policies on supply and demand side. The report also studies the impact of pandemic on global economies, international trade, business investments, GDP and marketing strategies of key players present in the market. For electroporation market, early days of covid-19 pandemic the global sales for electroporation instruments were declining mainly due to the reason that manufacturers halted production because of unavailability of raw materials, and also due to the shortage of manpower in the factories. However, it is expected that, as the restriction around the globe are easing up the market is gaining pace and the demand is rising again and the market is likely to grow further.
MARKET OVERVIEW - GLOBAL ELECTROPORATION INSTRUMENTS MARKET
Electroporation systems are basically used in pharmaceutical, biotechnology industry, and contract research organizations. It is used for microbiological application for transforming prokaryotic cells by incorporating synthetic DNA codes into them. As the pharmaceutical industry is growing at a rapid pace, the demand for electroporation instruments is growing at a rapid pace. In the last few years, the electroporation instruments have witnessed several technological advancements, and its increased use in the in academic research institutes and hospital laboratories is making it more popular among end-users.
MARKET DRIVERS
The global electroporation instrument market is driven by high demand from biotechnology and pharmaceutical industry, in pharmaceutical industry the electroporation instruments are used to develop monoclonal antibodies which are used in medicine manufacturing, also it is used in the process of medicine manufacturing to treat diseases, during COVID crisis, the use of pharma drugs also increased to reduce stress, common cold and flu saw a rise, which is driving the market as well. Moreover, as the biotechnology companies are focusing more on developing biotechnology products that can be beneficial for the survival and ensuring healthy life of human race, the demand for electroporation is increasing at a rapid pace.
MARKET OPPORTUNITIES
The market is expected to have new opportunity with the technological advancements & ongoing R&D involved in electroporation instrument is likely to provide ample of new growth opportunity in the market during the forecast period. Along with that, advancement in the field of Biotechnology and Nanotechnology with increasing demand for therapeutic diseases is creating an opportunity for the electroporation instrument market to grow further during the forecast period.
MARKET RESTRAINTS
The market has major restraining factor like there are various strict rules and regulation in the several countries which are associated with the use of electroporation instruments and it acts as a main obstacle for the growth of the market. Since, during electroporation higher voltage can destroy the nearby cells along with the target cell and can be potentially harmful, thus countries like the US, UK, Germany, France, Canada and Italy have strict rules and regulation regarding to electroporation.
MARKET GROWTH CHALLENGES
Lack of skilled professional has hampered the growth of market to major extent which has created a major challenges for the market growth. Furthermore, there is shortage of skill workforce who are able to handle this instrument, especially on developing countries is expected to hinder the growth of electroporation instrument market.
CUMULATIVE GROWTH ANALYSIS
The report provides in-depth analysis of global electroporation instrument market, market size, and compound annual growth rate (CAGR) for the forecast period of 2022-2028, considering 2021 as the base year. With growing pharmaceutical industry and various advancements in biotechnology and nanotechnology is driving the demand for electroporation instrument in the market and is expected to witness the growth at a CAGR at specific CAGR from 2021-2028.
ELECTROPORATION INSTRUMENT MARKET SEGMENTAL OVERVIEW
The global electroporation instrument market comprises of different market segment like type, application and end-users.
ELECTROPORATION INSTRUMENT MARKET BY MACHINE TYPE
By type, the electroporation instrument includes key segment
- Total Electroporation System
- Eukaryotic Electroporation System
- Microbial Electroporation System
On the basis of type, total electroporation system holds the maximum share in the market, since it is a process of artificially introducing nucleic acid, typically DNA or RNA into the cell and this system can be used for every type of cell ranging from primary, suspension or difficult to transfect cells including T-cells which are a part of immune system and are developed from stem cells in the bone marrow, creates the demand for total electroporation system. Moreover, Eukaryotic Electroporation System also holds the significant share in the market, this method of electroporation is used to transfect eukaryotic cells, and this method is applicable for animal cell, plant cell, fungal cell and insect cells.
ELECTROPORATION INSTRUMENT MARKET BY APPLICATION
The electroporation instrument market has major application in,
- Protein Production
- Biomedical Research
- Therapeutics
Based on application, the electroporation system has major applicability in the protein production, and this segment is expected to maintain its dominance over the estimated time period. Protein production is a biotechnological process of generating specific protein. Moreover, there is rising implication of lab grown protein and which are used in many products being consumed today for instance they are used mainly in dairy products such as cheese, whey and ice-cream. Also, this sector is seeing boom and consumers want to purchase products which have lab grown proteins as these are good alternative to traditional protein sources which utilises lot of resources while growing.
ELECTROPORATION INSTRUMENT MARKET BY END USERS
The Electroporation Instrument market has major end users like
- Pharmaceutical & Biotechnology
- Hospital Laboratories
- Academic & Research Institution
- Others
Pharmaceutical & Biotechnology is expected to have wide implication and uses of electroporation instruments in pharmaceutical industry. Electroporation is used by pharmaceutical industry to develop monoclonal antibodies which is one of the fastest growing segments in pharmaceutical industry, and these are further used in field of biochemistry and medicine manufacturing. These monoclonal antibodies are also being used to treat cancer, arthritis cardiovascular disease, psoriasis and ulcerative colitis, which is helping to boost the demand for electroporation instruments in pharmaceutical industry.
ELECTROPORATION INSTRUMENT MARKET BY GEOGRAPHY
The global Electroporation Instruments market is studied for the following region
- North America
- Europe
- Asia-Pacific
- Rest of the world (RoW)
North America is anticipated to witness increasing demand for electroporation instruments owing to presence of best infrastructure in the world, and the healthcare system in the region is highly recognized around the globe. All these factors have given rise to biotechnology sector, hospital laboratories and academic research institutes. Moreover, this region has the presence of countries like US, which is the home of many of the market players, helping the market to grow further. Apart from that, Asia-Pacific region is also expected to hold major share in the market, since pharmaceutical industry is growing in this region at a rapid pace, and with increased investment of R&D in the biotechnology is expected to help the market to grow further.
COMPETITIVE LANDSCAPE ANALYSIS
The competitive landscape analysis of electroporation instruments market is majorly focused on expanding the global growth of electroporation instruments with new product innovation, business expansion, increasing presence of range of manufacturer operating in electroporation instruments has led the growing demand for the market. Besides, the market offers range of products in different application to fulfil the required demand of consumer which is further contributing healthy growth in the market.
The key players studied in market are
- BEX Co. Ltd. (Japan)
- Bio Rad Laboratories Inc (U.S.)
- Celetrix LLC (U.S.)
- Eppendorf AG (Germany)
- Harvard Bioscience Inc. (U.S.)
- Lonza Group Ltd (Switzerland)
- MaxCyte Inc. (U.S.)
- Mirus Bio LLC. (U.S.)
- Merck KGaA (Germany)
- Thermo Fisher Scientific Inc (U.S.)
RECENT DEVELOPMENT:
November 2021: Lonza, a global manufacturing partner to the pharmaceutical, biotech and nutrition industries, has acquired the service unit from Exosomics, a leading extracellular vesicles biotech company. The agreement includes Exosomics' service team, service assets and laboratories in Siena, Italy. This acquisition helped Lonza to expand their business in Italy.
May 2021: Gamma Bioscience a global life sciences company, acquired Mirus Bio an innovator and developer of biomimetic, cell-adaptive lipid-polymer nanocomplexes (LPNCs) for nucleic acid delivery based in Madison, Wisconsin, United States.
April 2021: Thermo Fisher Scientific, United States based company has acquired PPD, Inc., a clinical research organization. This acquisition helped Thermo Fisher Scientific to increase research and development activity.
