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(Health-NewsWire.Net, January 20, 2023 )
The report Chromatography Instruments Market is expected to reach USD 11.0 billion by 2025 from USD 8.6 billion in 2020, at a CAGR of 5.1%.
Major Growth Driving Factors:
The growing investments in the pharmaceutical R&D, rising food safety concerns, increasing adoption of gas chromatography in oil & gas industry and policies to reduce environmental pollution levels are the key drivers of the chromatography instruments market growth. Increasing burden on healthcare systems owing to the COVID-19 pandemic worldwide and growing importance of chromatography tests in drug approval process will further upsurge the demand for chromatography instruments.
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The chromatography instruments market includes Tier I and II vendors like Agilent Technologies, Shimadzu Corporation, Waters Corporation, Thermo Fisher Scientific and PerkinElmer among others. The companies have a large market spread across various countries in North America, Europe, Asia Pacific and Rest of the World. The global COVID-19 outbreak has impacted the business to a certain extent as multiple manufacturing facilities of players were shut down during the lockdown. Despite of the challenging situation, industries are gradually recovering from the impact of the pandemic. As the supply and distribution channels are beginning to open up, business operations are likely to rise at a slow and steady rate in the near future. Thus, the pandemic is not estimated to have long-term effects on the fundamental growth drivers of the chromatography instruments market. It is estimated that market reconciliation and development would be seen toward the beginning of 2021.
Liquid chromatography systems segment is anticipated to be the fastest growing segment during the forecast period
The market is segmented by type, into liquid chromatography (LC) systems, gas chromatography (GC) systems, supercritical fluid chromatography (SFC) systems and thin-layer chromatography (TLC) systems.. The liquid chromatography systems segment is estimated to command the largest share of the market in 2020, and is projected to register the highest CAGR during the forecast period. Increasing demand for liquid chromatography systems in pharma and biotech industries along with growing adoption of gas chromtaogrpahy systems in oil & gas industries is expected to boost the market growth during the forecast period.
Columns, that form the most important part of the chromatography systems, are expected to command the largest market share in 2020
The chromatography instruments market, by consumable & accessory is broadly segmented into column, column accessories, autosampler, autosampler accessories, flow management accessories, solvents/reagents/adsorbents, chromatography fittings and tubing, detectors, mobile phase accessories, fraction collectors, pressure regulators, and other accessories. The columns segment is expected to occupy large market share owing to the importance of columns in the chromatography systems, as chromatographic separation takes place inside the column. Additionally, growing importance of chromatography tests in drug development, will subsequently upsurge the demand for such chromatography consumables and accessories.
Life science industry to witness highest growth during the forecast period
The end-user industry is segmented into life science industry, academic & research institutes, oil & gas industry, environmental agencies, food & beverage industry and other end user industries. The life science industry is expected to hold the largest share of the market in 2020 owing to the increasing R&D investment by pharmaceutical & biotechnology companies. This end-user segment is expected to grow rapidly in the coming years due to the use of chromatography in various research applications, bulk drug manufacturing, stabilization of drugs, and qualitative and quantitative pharmaceutical analysis.
Geographical Growth Dynamics:
The North America chromatography instruments market to hold the largest market share in 2020
North America is expected to dominate the global chromatography instruments market in 2020, followed by Europe, whereas the Asia Pacific region is expected to register the highest CAGR during the forecast period. The high regional growth is attributed to the increasing R&D funding in healthcare industries, growing number of preclinical activities by CROs and pharmaceutical companies, upsurge in the number of metabolomics research studies, growing food and agricultural industry in Canada and presence of developed healthcare and research infrastructure.
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Key Players:
The major players operating in the chromatography instruments market include Agilent Technologies (US), Waters Corporation (US), Shimadzu (Japan), Thermo Fisher Scientific (US), PerkinElmer (US), Merck KGaA (Germany), Phenomenex (US), Bio-Rad Laboratories (US), Cytiva (US), Hitachi (Japan) and Restek Corporation (US) among others.
Read More About Related Topics:
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