Automated Patch Clamp System Market Is Estimated To Witness High Growth Owing To Rising Adoption By Biopharmaceutical Industry And Technological Advancements
Market Overview:
An automated patch clamp system is a laboratory instrument used to investigate the electrophysiological properties of ion channels in a variety of cells. It automates the process of patch clamp experiments, enabling high-throughput screening of ion channels. The system is used across life science industries such as pharmaceutical, biotechnology, contract research organizations, and academic and research institutes.
Market Dynamics:
The automated patch clamp system market is expected to witness significant growth over the forecast period, owing to rising adoption by the biopharmaceutical industry and technological advancements in the devices. The automated patch clamp technique provides significant advantages compared to the manual patch clamp such as improved throughput and efficiency, allowing researchers to screen hundreds of ion channel-active drug candidates in a shorter time period. Further, development of innovative devices with improved resolutions and compatibility with different cell types is fueling adoption across end users. Major players are focusing on new product launches and expansions to strengthen their market position. For instance, in 2018, Molecular Devices launched new automated patch clamp system designed for high throughput screening applications.
The global Automated Patch Clamp System Market Size is estimated to be valued at US$ 412.01 Mn in 2023 and is expected to exhibit a CAGR of 6.9% over the forecast period 2023-2030, as highlighted in a new report published by Coherent Market Insights.
SWOT Analysis
Strength: The automated patch clamp system market is experiencing strong growth owing to higher efficiency and throughput as compared to manual patch clamp systems. Automated systems offer reproducibility and scalability of experiments. They assist in screening of ion channels and detecting toxic compounds in a short duration of time.
Weakness: High costs associated with automated patch clamp systems restricts its adoption, specifically in academic and research laboratories operating with limited budgets. Technical complexities and limited customization options also hinders its popularity.
Opportunity: Rising drug discovery and development activities creates demand for automated patch clamp systems. Growing biotechnology and pharmaceutical industries worldwide presents an opportunity for market expansion. Furthermore, proliferating contract research and manufacturing organizations supplement the market growth.
Threats: Availability of alternative technologies for ion channel screening & analysis poses a threat to automated patch clamp system market. Products offering better customization and higher efficiency also threatens its growth. Intense competition among existing players further challenges the market growth.
Key Takeaways
The global automated patch clamp system market is expected to witness high growth, exhibiting a CAGR of 6.9% over the forecast period, due to increasing R&D investments in the pharmaceutical industry and rising demand for cost-effective drug discovery tools.
Regional analysis: North America dominates the automated patch clamp system market and is expected to grow at the fastest rate owing to the presence of major global players and rising pharmaceutical research in the US. Asia Pacific is anticipated to exhibit the highest growth due to increasing investments by government research bodies and growth of biotechnology and pharmaceutical industries in countries like China and India.
Key players: Key players operating in the automated patch clamp system market are Sophion Bioscience A/S, Nanion Technologies GmbH, NeoBiosystems, Inc., Multi Channel Systems MCS GmbH, Fluxion Biosciences, Molecular Devices, LLC, and Scitech Korea Inc. The market demonstrates a high degree of consolidation with major global players accounting for the majority share. Players are focusing on novel product launches and geographic expansion strategies to strengthen their market position.
Read More: https://blogger-veritas.blogspot.com/2023/10/sophion-bioscience-as-segment.html
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