Chromatography Market Research
According to the report, the global chromatography market generated $8.7 billion in 2020, and is anticipated to generate $15.33 billion by 2030, witnessing a CAGR of 5.8% from 2021 to 2030.
Surge in applications of chromatography in various fields, rise in adoption of chromatography in drug discovery process, and growth in popularity of hyphenated chromatography techniques drives the growth of the global chromatography market. However, High cost of chromatography equipment, Lack of adequate skilled professionals and Presence of alternative technologies to chromatography hinder the market growth. On the other hand, advancement in gas chromatography columns for petrochemical applications and adoption of chromatography in R&D in cancer present new opportunities in the coming years.
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Key Market Drivers:
- Growing R&D Spending:Increased investment in research and development, particularly in biopharmaceuticals, is a major driver, with companies developing new drugs and therapies.
- Rising Demand for Biopharmaceuticals:The increasing prevalence of chronic diseases is driving the demand for biopharmaceuticals, which rely heavily on chromatography for analysis and purification.
- Expanding Applications:Chromatography is finding wider use in areas like drug discovery, food safety, environmental monitoring, and forensics, contributing to market expansion.
- Technological Advancements:Innovations like miniaturized and automated systems are improving efficiency and accessibility, further boosting market growth.
- Growth of CROs and CDMOs:The expanding role of Contract Research Organizations (CROs) and Contract Development and Manufacturing Organizations (CDMOs) is also contributing to the market as they rely on chromatography for their services.
Market Segmentation:
Based on type, the liquid chromatography segment held the highest market share in 2020, accounting for nearly two-thirds of the global chromatography market, and is estimated to maintain its leadership status throughout the forecast period. This is due to rise in various applications of liquid chromatography to the fields of pharmaceutical chemistry, bioanalysis, antibiotics, metabolomics, proteomics, drug analysis, medical sciences, and plant, agricultural, environmental and food chemistry. However, thin layer chromatography segment is projected to manifest the highest CAGR of 6.7% from 2021 to 2030, owing to increase in application of thin layer chromatography (TLC) in various areas such as qualitative testing of various medicines such as sedatives, local anesthetics, anticonvulsant tranquilizers, analgesics, antihistamines, steroids, hypnotics.
Based on product, the consumables segment accounted for the largest share in 2020, contributing more than two-fifths of the global chromatography market, and is projected to maintain its lead position during the forecast period. This is due to growing adoption of consumables to separate, identify, and analyze various compounds such as vitamins, preservatives, additives, proteins, and amino acids in the pharmaceutical industry. Moreover, this segment is expected to portray the largest CAGR of 6.2% from 2021 to 2030, while the accessories segment projected to have CAGR of 5.6% from 2021 to 2030.
Based on region, North America held the highest market share in terms of revenue 2020, accounting for more than one-third of the global chromatography market. This is due to presence of giant biopharmaceutical and pharmaceutical firms in the countries such as the U.S. In addition, increase in adoption of chromatographic techniques for drug discoveries and drug approvals by this biopharmaceutical and pharmaceutical firms. However, the Asia-Pacific region is expected to witness the fastest CAGR of 7.2% during the forecast period.
Leading Market Players:-
- Agilent Technologies
- Bio-Rad Laboratories
- Danaher Corporation
- Hitachi Ltd.
- Merck KGAA
- PerkinElmer, Inc.
- Restek Corporatio
- Shimadzu Corporation
- Thermo Fisher Scientific, Inc.
- Waters Corporation.
Key Benefits For Stakeholders
- The study provides an in-depth analysis of the global chromatography market along with the current trends and future estimations to explain the imminent investment pockets.
- A comprehensive analysis of the factors that drive and restrict the chromatography market growth is provided in the report.
- Comprehensive quantitative analysis of the industry from 2020 to 2028 is provided to enable the stakeholders to capitalize on the prevailing chromatography market opportunities.
- Extensive analysis of the key segments of the industry helps to understand the application and products of chromatography used across the globe.
- Key market players and their strategies have been analyzed to understand the competitive outlook of the market.
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