Press release
Preparative and Process Chromatography Market at a CAGR of 6.9% to hit USD 9,904.8 million by 2027
The global preparative and process chromatography market is driven by several factors, such as increased use of chromatography in various applications and growing food safety concerns. Moreover, rising pharmaceutical R&D activities, especially in the pharma industry, will drive market growth. For instance, according to the Congressional Budget Office (CBO) of the US, pharmaceutical R&D spending had increased from USD 38 billion in 2000 to USD 83billion in 2019. Moreover, there was a 60% increase in new drug approvals by FDA from 2010 to 2019 compared to the previous decade.
The industry players are focusing on new product development, obtaining product approvals from the regulatory bodies for more penetration in the global preparative and process chromatography market. For example, in February 2021, Thermo Fisher Scientific Inc. (US) launched its new Vanquish Online 2D-Liquid Chromatography (LC) system, which offers multidimensional chromatography. In November 2020, Shimadzu Corporation (Japan) launched its advanced i-SeriesHPLC system. This was an improved liquid chromatography system that supported remote work. Furthermore, the key players are involved in strategic agreements and acquisitions to augment their market positions. For instance, in March 2020, Danaher (US) acquired the biopharma business of General Electric Life Sciences (US), now called Cytiva, for USD 21.4 billion.
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Regional Analysis
North Americais likely to dominate the preparative and process chromatography market, owing to increasing investments in pharmaceutical R&D, the presence of key companies, and developed healthcare infrastructure in the region.For instance, the National Institutes of Health (NIH) funding for medical research in 2020 was USD 42 billion, whichhad increased by 7% compared to 2019 funding.
Europeis likely to account for a significant share in the preparative and process chromatography market due to supportive government healthcare policies and rising pharmaceutical R&D investments. For instance, the European Union set up the Horizon 2020 funding program for R&D and innovation in science, which funded over USD 90 billion from 2014-2020.
Asia-Pacific is projected to be the fastest-growing regional market during the forecast period dueto factors like improving healthcare infrastructure and a high percentage of geriatric population in the region demanding efficient therapeutics. Furthermore, global key players’ initiatives to expand operations in the region are also boosting the market growth.
Furthermore, the growth of the market in the Rest of the World is slower compared to the other regions due to the presence of poorer economies and fewer research activities. However, government initiatives to support domestic pharmaceutical production is expected to drive the market.
Segmentation
The global preparative and process chromatography market has been segmented into type, product, and end user.
Based on type, the market has been segmented into process chromatography and preparative chromatography. The process chromatography segment heldalarger market share in 2020 due to its various applications across industries such as food & beverages, pharmaceutical, and forensics, and usage for scale-up and large-scale pharmaceutical product manufacturing.
Based on product, the market has been segmented into chemicals & reagents, resins, columns, and systems. The columns segment held the highest share in 2020 due to its various applications in different chromatography techniques and is the most common and crucial component for carrying out chromatography processes.
Based on chromatography type, the market has been segmented into liquid chromatography, gas chromatography, and others. The liquid chromatography segment held the largest share in the market in 2020 due to varied applications and high demand in analytical processes,
Based on end user, the market has been segmented into biotechnology and pharmaceutical industries, food and nutraceutical industries, academic research laboratories, and others. The biotechnology and pharmaceutical industries segment held the largest share in 2020 because of the constant R&D efforts and production activities carried out by these industries thatextensively involve the use of preparative and process chromatography.
Key Players
Some of the key market players are Merck KGaA (Germany), Danaher Corporation (US), Bio-Rad Laboratories (US), Thermo Fisher Scientific (US), Shimadzu Corporation (Japan), Daicel Corporation (Japan), Waters Corporation (US), Agilent Technologies (US), Novasep Holding S.A.S (France), and PerkinElmer Inc. (US).
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