by The Electroporation Instruments market is estimated to be valued at US$ 242.41 Bn in 2023 and is expected to exhibit a CAGR of 4.4% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Electroporation instruments are used for creation of temporary pores or permeabilization in cell membranes through application of short pulses of high-intensity electric fields. The process is known as electroporation. It finds applications in cellular therapies, stem cell therapies, DNA vaccination, and gene editing and therapy. The key products include consumables like cuvettes, electrodes, reagents and software & instruments.
Market Dynamics:
Rising prevalence of cancer and infectious diseases is driving the demand for electroporation based therapeutics and diagnostics which is fueling the growth of electroporation instruments market. For instance, according to WHO, cancer burden is expected to grow to 27.5 million new cases and 16.3 million cancer deaths by 2040. Further, minimally invasive electroporation surgeries are gaining traction over conventional surgeries owing to faster recovery time and reduced postoperative pain and complications. This is augmenting the adoption of electroporation instruments.
Additionally, key players are focused on development of advanced electroporation instruments with enhanced efficiency, safety and usability. For instance, in 2022, Maxcyte launched next generation ExPERT AT electroporation platform with enhanced capabilities to deliver pulses with microsecond precision and modulate pulse waveforms. Such product innovations are positively impacting the market growth.
However, high costs associated with electroporation instruments and lack of skilled professionals may hinder the market growth over the forecast period.
SWOT Analysis for Electroporation Instruments Market
Strength:
1. Electroporation helps in effective delivery of drugs, genes and other molecules into cells.
2. This cost effective method aids research activities in biotechnology and pharmaceutical industries.
3. Growing demand for electroporation based therapies like gene therapy is driving the market growth.
Weakness:
1. Safety concerns related to effects of electric pulses on cells can restrain the market growth.
2. Varied efficacy of electroporation on different cell types is a major challenge.
Opportunity:
1. Advancements in electroporation systems with features like automated functions provide new opportunities.
2. Growing R&D in gene editing and immunotherapy offers scope for market expansion.
Threats:
1. Availability of alternative transfection methods can threaten the electroporation market.
2. Stringent regulatory approval process for new electroporation based therapies poses a challenge.
Key Takeaways
Global Electroporation Instruments Market Demand is expected to witness high growth, exhibiting CAGR of 4.4% over the forecast period, due to increasing demand for gene and cell-based therapies.
Regional analysis:
North America dominates the global electroporation instruments market due to presence of major market players and advanced research infrastructure in the region. Asia Pacific exhibits fastest growth owing to rising biotech investments, expanding research base and improving healthcare facilities.
Key players:
Key players operating in the Electroporation Instruments market are Bio-Rad Laboratories, Inc, Thermo Fisher Scientific Inc., BTX ( a division of Harvard Bioscience), Celetrix, LLC., Gamma Biosciences, Merck KgaA, Eppendorf SE, MaxCyte, Inc. BEX CO.,LTD., Lonza, Altogen Biosystems, Ala Scientific Instruments, Inc., BioEra Life Sciences Pvt. Ltd., and Ichor Medical Systems.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
