Gas Chromatography Market Expected to Secure Notable Revenue Share during 2017-2022 | Major Players - Agilent Technologies, DANI Instruments S.p.A, Thermo Fisher Scientific, Merck KGaA, Restek Corporation, Shimadzu Corporation, LECO Corporation, Perkin El
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Gas chromatography has been witnessing a rise in adoption among various industrial sectors such as food & beverage, agriculture, oil & gas, and healthcare. GC is also being used in environmental agencies, research organizations, clinical toxicology, and academic institutes. Gas chromatography has been combined with mass spectrometry, denoted as GC-MS, for applications in detection of drugs, explosives investigation, environmental analysis, identifying unknown samples, and fire investigation. Owing to its variety of application, demand for gas chromatography will increase significantly in the foreseeable future. Governments across the globe are making investments in developing advanced chromatography technologies. Over the past few years, a number of collaborations between academic institutes and research laboratories have been witnessed across the globe. Moreover, gas chromatography tests have become imperative for approval of drugs.
Emerging economies represent a higher growth potential for the global gas chromatography market, with their rising GDP, coupled with increasing healthcare spending on the back of large population base. A major trend being witnessed in the market is soaring adoption of micro gas chromatographs. Most of the companies are inclining their focus towards use of small instruments, saving space and huge investments. Micro gas chromatographs offer benefits such as shorter delays in acquiring results, lower energy consumption, lower quantities of sample gases required, accuracy & precision in processes, and increased reliability in operation. However, gas chromatography instruments are subject to high initial prices. There has been a shortage of skilled professionals for operation of gas chromatography procedures. These factors might act as restraining factors for growth of the market in the near future.
According to a new report by Fact.MR, the global gas chromatography market will register an above-average growth during the forecast period (2017-2022). Revenues from the global gas chromatography market are anticipated to surpass US$ 3,500 Mn by 2022-end.
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North America’s Dominance in the Global Gas Chromatography Market will Remain Unchallenged through 2022
North America is projected to remain the largest market for gas chromatography, expanding at an impressive CAGR through 2022. In this region, the United States is well known for biopharmaceutical research, and production of pharmaceutical drugs. The number of geriatric population in North America is witnessing a rise, thereby driving demand for different medicines for treatment of different diseases. These factors will drive growth of gas chromatography market in North America. Europe is expected to be the second most lucrative market for gas chromatography over the forecast period.
Accessories & consumables, and auto-samplers are expected to emerge as the fastest-selling products in the global gas chromatography market. Auto-samplers will remain more lucrative than accessories & consumables of gas chromatography, in terms of revenues. Gas chromatography instruments will continue to be the top-selling product, with sales poised to exceed US$ 1,600 Mn by 2022-end. In addition, sales of instruments, and detectors will register a parallel expansion at 5.5% CAGR through 2022.
Oil & gas industries are projected to remain the largest end-users of gas chromatography, in terms of revenues. In addition, revenues from gas chromatography in oil & gas industries, and pharmaceutical & biotechnology industries are estimated to account for nearly two-third share of the market during 2017 to 2022. Pharmaceutical & biotechnology industries will exhibit the fastest expansion as compared to all the other end-users in the market through 2022.
Key market players listed in Fact.MR’s report include Agilent Technologies, DANI Instruments S.p.A, Thermo Fisher Scientific, Inc., Merck KGaA, Restek Corporation, Shimadzu Corporation, LECO Corporation, Perkin Elmer Inc., and Danaher Corporation.
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