The biotechnology, pharmaceutical, and contract research industries all primarily use electroporation technologies. It is applied in microbiology to modify prokaryotic cells by introducing artificial DNA sequences into them. Since the pharmaceutical sector is expanding quickly, so too is the demand for electroporation equipment.
The electroporation devices have undergone significant technological developments in the last few years, and end users are becoming more accustomed to using them in hospital laboratories and university research centers. The expansion of the electroporation instrument market will be fueled by the rising incidence of chronic diseases like cancer, HIV, and others during the anticipated time frame. The global market for electroporation instruments, which was estimated to be worth USD 185.1 million in 2022, is expected to expand to USD 288.9 million by 2030, with a CAGR of 5.7% over the forecast period of 2022–2030.
In the upcoming years, growth is also predicted to be fueled by the increasing number of R&D projects undertaken by various organizations to enhance this technology.
Electroporation instruments Market to Recover Amid COVID-19 Pandemic
COVID-19 impact study report offers a comprehensive examination of micro- and macroeconomic factors affecting the market for electroporation equipment worldwide. Complete analysis of the spending, economic, and international supply and demand side policies on the global market for electroporation equipment. The influence of the pandemic on international trade, company investments, GDP, and marketing tactics of significant market participants is also examined in the paper. Early on in the COVID-19 pandemic, the global market for electroporation equipment experienced a decline in sales mostly as a result of manufacturers stopping production due to a lack of raw materials and a lack of labor in the facilities.
Since more research was being done to develop diagnostic tools and treatments during the pandemic, Covid-19 is an unprecedented threat that has had a substantial influence on the worldwide electroporation business. Gene therapy-related research accounted for the majority of vaccine and medication delivery studies, which raised the need for electroporation. For instance, a clinical study (NCT05102643) sponsored by the University of Hong Kong in collaboration with immuno Cure 3 Limited is evaluating the safety and immunogenicity of administering the SARS-CoV-2 DNA vaccine intramuscularly followed by electroporation for COVID-19. It is anticipated to be completed by December 2022.
Increasing Prevalence of chronic diseases, high demand from biotechnology & pharmaceutical industry to boost Electroporation instruments Market
The expansion of the electroporation instrument market will be fueled by the rising incidence of chronic diseases like cancer, HIV, and others during the anticipated time frame. For instance, the World Health Organization’s 2022 report states that cancer was the biggest cause of death globally, accounting for about 10 million deaths in that year.
The pharmaceutical industry uses electroporation instruments to create monoclonal antibodies that are used in the production of medicines as well as in the manufacturing process to treat diseases. During the COVID crisis, the use of pharmaceutical drugs also increased to reduce stress, leading to an increase in the prevalence of the common cold and flu, which is driving the market. Also, since biotechnology firms concentrate more on creating goods that will help the human species survive and guarantee a healthy existence, demand for electroporation is rising quickly.
In order to create targeted, sequence-specific alternations across the DNA, researchers are increasingly incorporating a variety of technologically sophisticated processes into gene editing. Some well-known examples of cutting-edge gene editing technologies include transcription activator-like effector nucleases (TALENs), CRISPR-associated (Cas), proteins, and clustered regularly-interspaced short palindromic repeats (CRISPR). Increase in such R&D activities is anticipated to lead to a rise in the use of electroporation devices in the ensuing years.
North America to spearhead the Electroporation instruments market
Due to a surge in large firms’ R&D spending and an increase in clinical trials, North America dominated the global market in 2022. Because to their simplicity and effectiveness when compared to other traditional procedures like microinjection or chemical transfection, electroporation tools are frequently employed for research.
- Increasing demand of electroporation in drug discovery & development process: In North America, both public and private institutions are making significant investments in healthcare infrastructure and research and development to cope up with the increasing number of patients suffering from various chronic diseases.
- Favorable Regulatory Environment: The regulatory climate in North America is improving. Pharmaceutical businesses are finding it simpler to launch new drugs since regulatory agencies are creating clearer policies and procedures for the clearance of these therapies.
- Increasing awareness in population: Increasing understanding of the advantages of electroporation among scientists and researchers.
- Growing demand by pharmaceutical & biotechnology industry: The pharmaceutical and biotechnology industries are experiencing an increase in demand for effective, high-throughput screening techniques.
- Technology advancement: Instruments for electroporation that have undergone technological developments that improve their performance and flexibility.
Companies operating in the Electroporation instruments market have adopted several growth strategies to expand their market share and increase their revenue. Some of the key growth strategies adopted by these companies are: –
- BEX Co. Ltd
- Celetrix LLC
- Merck KGaA
- Eppendorf AG
- Harvard Bioscience Inc. (BTX)
- Thermo Fisher Scientific, Inc
- Bio-Rad Laboratories
- MaxCyte Inc.
- Lonza Group, and Mirus Bio LLC
- Guangzhou Tingmay Beauty Equipment Co., Ltd
- ALLFOND INDUSTRIAL LIMITED
- Shanghai Apolo Medical Technology Co., Ltd
- Partnerships and Collaborations: Companies are collaborating to exchange resources and expertise to hasten the creation of new treatments. Through these partnerships, firms are better able to utilize one another’s skills and create new therapies.
- Ease in product manufacturing & distribution: To develop new electroporation instruments and improve already existing ones, businesses are spending on R&D. To broaden their product offerings and gain a competitive advantage, several companies are launching new items on the market.
- Geographical Expansion: Companies are expanding their reach by opening operations in new markets and markets with promising growth prospects. As a result, companies can attract new customers and increase revenue.
- Acquisitions and Mergers: Companies can obtain new technology by making purchases or joining forces with other companies.
- Product launches: Increase in the investment to produce cost-effective items to expand and grow in the competitive market to launch the new products.
Businesses can acquire new technology by making purchases or collaborating with other businesses groups in the market.