Albany, NY -- (SBWIRE) -- 05/21/2019 -- Global Separation Systems for Commercial Biotechnology Market: Snapshot
The global separation systems for commercial biotechnology market has been growing at a healthy pace in the last few years. The rising number of biotech companies and the increasing investments in the research and development activities are projected to encourage the growth of the overall market in the next few years.
According to the market research study that has been recently published by Transparency Market Research, the global market for separation systems for commercial biotechnology is projected to reach a value of US$19,227.8 mn by the end of year 2023. The market is predicted to register a promising growth rate in the next few years.
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Rising Research and Development Activities to Encourage Market Growth
In the last few years the chromatography systems have gained immense popularity, thanks to the introduction of new technologies in chromatographic consumables and instruments, which is predicted to encourage the growth of the global separation systems for commercial biotechnology market in the next few years. The rapid development of the flow cytometry has emerged as a leading technology, which is projected to enhance the market growth in the next few years. In addition to this, the growing demand and the advancements in the microarray technology is another major factor that is predicted to accelerate the growth of the market in the near future.
On the flip side, the high cost of technologies and systems and the patent rights over MACS technique are some of the key factors that are predicted to hamper the growth of the global separation systems for commercial biotechnology market in the next few years. Moreover, the lack of innovations in the electrophoresis equipment technology is likely to restrict the market growth in the near future. Nonetheless, the rising awareness among consumers regarding the chromatography has induced the government organizations in Asia Pacific, Europe, and the U.S. to increase their funds, grants, and investments, which is projected to accelerate the growth of the overall market in the next few years.
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Rising Research and Development Activities to Encourage Market Growth
The global market for separation systems for commercial biotechnology has been classified on the basis of geography into Latin America, North America, Europe, Asia Pacific, and the Middle East and Africa. Previously, North America held a large share of the market and registered a healthy growth rate. This region is projected to remain in the top position in the next few years. The high growth of this region can be attributed to the presence of several leading players and the growing focus on the research and development activities. Europe is projected to stand on the second position further followed by Asia Pacific. Technological advancements and the growing use of other imaging technologies is projected to encourage the growth of this region in the next few years.
The global market for separation systems for commercial biotechnology is considered as a highly competitive market with a huge number of players operating across the globe. The key players in the market are focusing on the development of new products in order to stay ahead of the rivals and attract a large number of consumers in the next few years. In addition to this, the growing focus of the key players on the research and development activities is projected to support the growth of the market and generate potential development prospects for the market players in the next few years. Some of the key players operating in the separation systems for commercial biotechnology market across the globe are Danaher Corporation, Thermo Fisher Scientific, Inc., Merck KGaA, Waters Corporation, Becton, Dickinson and Company, and GE Healthcare.