According to research report 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.
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Prominent players in the gel documentation systems market include GE Healthcare (US), Bio-Rad Laboratories, Inc. (US), Thermo Fisher Scientific (US), LI-COR Biosciences (US), Endress+Hauser Management AG (Switzerland), Vilber Lourmat (France), Scientific Digital Imaging plc (UK), Bio-Techne (US), Cleaver Scientific (US), and Azure Biosystems (US).
The key strategies followed by most companies in the gel documentation systems market are product launches & approvals, expansions, agreements & collaborations, and acquisitions to achieve growth in the global gel documentation systems market. Product launches accounted for the largest share of the overall growth strategies adopted from 2015 to 2018.
Bio-Rad Laboratories, Inc. was the leading player in the gel documentation systems market. Strong brand recognition and extensive product portfolio in the gel documentation systems market are the company’s key strength. To maintain a leading position in the market, the company focuses on research & development activities to develop and introduce new products in the market. The company invested 11.6%, 10%, and 9.6% of its total revenue in research & development in 2017, 2016, and 2015, respectively. The company launches new products regularly to maintain its dominant presence and promotes its products through various webinars. It recently launched ChemiDoc MP Imaging system. It has a presence in over 30 countries among which, the US is the largest market. The company registered 37% of its revenue from the US in 2017.
GE Healthcare was the second-largest player in the gel documentation systems market. The company offers a wide range of gel documentation systems for protein and nucleic acid quantification. GE’s well-established distribution channels in mature markets, such as North America and Europe, help it to maintain its leading position in the life sciences industry. The company is also focusing on organic growth strategies; for example, it recently entered into an agreement with the Swedish government to open a test centre for innovation in life sciences.
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Thermo Fisher Scientific was the third-largest player in the global gel documentation market. The company’s leading position in the market can be attributed to its focus on product innovation. It focuses on strengthening its R&D capabilities, core competencies, and meeting customer and market demands. This has helped Thermo Fisher to introduce innovative products in the market. In the last two years, the company launched iBright CL1000 and iBright FL1000 imaging systems. Product launches strengthen the company’s product portfolio, brand recognition, and help the company to maintain its position in the market. The company has a strong presence in more than 150 countries in Europe, North America, South America, Asia Pacific, and Africa.
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