(I-BusinessNews.Com, March 25, 2020 ) The gel documentation systems market size is expected to reach USD 304 million by 2023 from USD 258 million in 2018, at a CAGR of 3.3 %. The major factors driving the market are growing global incidence of infectious diseases and genetic disorders and increase in funding for research & development in genomics, proteomics, and electrophoresis techniques.
On the basis of product type, the gel documentation systems market is categorized into instruments, software, and accessories The instruments segment is further categorized into film gel documentation instruments and digital gel documentation instruments. It is expected to register a highest growth rate during the forecast period. The growth is attributed to high usage of gel documentation systems in molecular biology techniques in pathology laboratories and research & development institutions.
On the basis of light source, the gel documentation systems market has been segmented into laser, LED, and UV light sources. The market in the laser segment is projected to register the highest CAGR during the forecast period. The image produced by a laser light source is more accurate and clearer, which is the major factor responsible for the highest growth of this market segment during the forecast period.
On the basis of detection technique, the gel documentation systems market is categorized into UV, chemiluminescence, and fluorescence detection techniques. The chemiluminescence segment is expected to register a highest growth rate during the forecast period. The high growth rate of this segment can be attributed to their high speed and sensitivity and their ability to detect proteins up to femtogram levels.
On the basis of application, the gel documentation systems market is categorized into protein quantification, nucleic acid quantification, and other applications. The protein quantification segment is expected to register a highest growth rate during the forecast period. This growth can be attributed to increasing government funding for research & development in genomics and proteomics.
On the basis of end user, the gel documentation systems market has been segmented into academic and research institutes, diagnostic laboratories, and pharmaceutical and biotechnology companies. The market in the academic and research institutes segment is estimated to register the highest CAGR during the forecast period. The large share of this segment is primarily attributed to increasing government and private funding for proteomics and genomics research in academic institutes.
Geographically, the gel documentation systems market is segmented into North America, Europe, Asia Pacific, and the Rest of the World (RoW). Asia Pacific is expected to register the highest CAGR during the forecast period. The growing pharmaceuticals industry and rising government funding for academic research are the driving factors of the market in this region. With such developments, major players in the market are focusing on this region to increase their revenue by signing distribution agreements. For instance, one of the key players, LI-COR biosciences has entered into an agreement with SPD Scientific Pte Ltd. for distribution of its products in Singapore, Malaysia, Vietnam, and Thailand.
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