Chromatography is a high precision analytical technique used for separation, identification and quantification of components in complex mixtures like drugs, biological samples, chemicals etc. The technique helps isolate and analyze individual components to understand their nature, interactions and functions. The increasing adoption of chromatography in various industries such as pharmaceutical, food and beverages, oil and gas, chemicals, healthcare has accelerated the demand for chromatography equipment and consumables.
The global Chromatography Market is estimated to be valued at US$ 11702.77 Mn in 2023 and is expected to exhibit a CAGR of 4.8% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
The increasing need for chromatography in various industries is one of the key trends driving the growth of the global market. With growing pharmaceutical and biopharmaceutical industries, the demand for chromatography has increased manifolds for separation, identification and purification of drugs and therapeutics. It is widely used at various stages of drug development process such as discovery, pre-clinical and clinical research. Moreover, chromatography also finds extensive application in food and beverage industry for testing food adulteration, ensure food safety and detecting toxins. The oil and gas industry also uses chromatography for hydrocarbon analysis. With rapid industrialization and stringent regulations regarding product safety and quality, the need for chromatography based analytical testing is expected to rise significantly over the forecast period.
Segment Analysis
The global chromatography market has been dominated by the liquid chromatography segment with over 55% market share in 2023. Liquid chromatography finds widespread applications in various industries such as pharmaceuticals, food and beverages, life sciences, environmental testing, and others due to advantages like high resolution, reproducibility and separation efficiency. It is commonly used for separation, purification and quantification of complex mixtures and is hence the most commonly used chromatography technique globally.
Key Takeaways
The Global Chromatography Market Size is expected to witness high growth over the forecast period of 2023 to 2030 driven by rising investments in R&D activities across various industries.
Regional analysis
North America dominated the global chromatography market in 2023 with over 35% share owing to increasing biopharmaceutical research activities and presence of major pharmaceutical companies in the US and Canada. Asia Pacific is expected to be the fastest growing region during the forecast period with countries like China and India emerging as key markets. This can be attributed to increasing outsourcing of clinical trials and generics production to Asia coupled with government initiatives to boost local life sciences industry.
Key players
Key players operating in the chromatography market are Thermo Fisher Scientific Inc., Agilent Technologies, Inc., SHimadZu Corporation, Waters Corporation, Affymetrix, Inc., Siemens Healthcare, Illumina Inc., Horiba Limited, PerkinElmer, Inc., Life Technologies, Protagen AG, Roche Diagnostics Limited, Malvern Panalytical, Tosoh Corporation, Polymer Char, and Potsnova Analytics.
Thermo Fisher Scientific Inc. and Waters Corporation currently hold the largest market share globally due to their wide product portfolio and presence across major markets. Agilent Technologies and SHimadZu Corporation are other major players focusing on new product launches and expansion in emerging markets to strengthen their market position.
For More Insights, Read: https://www.newsstatix.com/chromatography-market-size-share-and-growth-forecast-2023-2030/
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