Chromatography Market to be Worth $24.8 Billion by 2030-Exclusive Report by Meticulous Research®

According to a new market research report, 'Chromatography Market by Product (Systems, Columns, Reagents, Vials, Fittings, Detectors, Pumps, Software), Technology (HPLC, LPLC, Flash Chromatography, GC, TLC), End User (Pharmaceutical, Academic, F&B, Environmental, Hospital) - Global Forecast to 2030,' published by Meticulous Research®, the chromatography market is projected to reach $24.8 billion by 2030, at a CAGR of 5.4% from 2023 to 2030.

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Chromatography is a laboratory technique used to separate, identify, and analyze the individual components of a mixture by exploiting differences in their distribution between two phases, namely, a stationary phase and a mobile phase.
The growth of this market is driven by increasing R&D investments in the pharmaceutical and biotechnology industries, rising food safety concerns driving the need for identification and quantification of food contaminants, technological advancements in chromatography, and growth in policies and initiatives to reduce environmental pollution.

However, the high cost of instruments restrains this market's growth to a notable extent. Additionally, emerging economies and the development of bioclusters offer opportunities for market growth. However, the shortage of skilled professionals and the adoption of refurbished instruments are major challenges for market growth.

The key players profiled in this market study are Waters Corporation (U.S.), Shimadzu Corporation (Japan), Thermo Fisher Scientific Inc. (U.S.), Agilent Technologies, Inc. (U.S.), Danaher Corporation (U.S.), Bio-Rad Laboratories, Inc. (U.S.), Perkin Elmer, Inc. (U.S.), Merck KGaA (Germany), Bruker Corporation (U.S.), Hitachi, Ltd. (Japan), Sartorius AG (Germany), Restek Corporation (U.S.), and Tosoh Corporation (Japan). The report also includes an extensive assessment of the product portfolio, geographic analysis, and key strategic developments adopted by leading market players in the last three to four years. In recent years, the chromatography market has witnessed several organic and inorganic strategic developments.

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Capacity Expansions of Biopharmaceutical Plants to Propel the Demand for Chromatography Products

Biosimilars are gaining significant importance in oncology, autoimmune diseases, and rare diseases. The price advantage of biosimilars compared to biologics and biosimilar substitution laws is boosting the demand for biosimilars. Several manufacturers are expanding their manufacturing facilities to meet the growing demand for biopharmaceuticals. For instance, in December 2021, Biocon Ltd. (India) and Mylan N.V. (U.S.) planned to combine their biosimilar businesses to create a larger company. The COVID-19 pandemic also resulted in the facility expansion of vaccine manufacturing plants. For instance, in May 2021, Novavax Inc (U.S.) signed an agreement with South Korea's SK Bioscience Co Ltd to expand the production of the COVID-19 vaccine in Korea. Capacity expansions of biopharmaceutical plants are driven by the growth of the biopharmaceutical industry, the need for purification and analysis of complex biologics, and the need for advanced therapies. Chromatography products are essential tools in biopharmaceutical manufacturing. As biopharmaceutical companies expand their manufacturing capabilities to meet the rising demand for these complex molecules, these companies require more chromatography products for purification and analysis, thus driving the chromatography market.

The chromatography market is segmented by Product (Systems, Consumables [Columns {Pre-packed Columns, Empty Columns}, Reagents & Buffers, Vials, Fittings & Tubings, Syringe Filters, Well Plates, Other Consumables], Components & Accessories [Detectors & Lamps, Pumps, Fraction Collectors, Other Components & Accessories], Software & Services), Technology (Liquid Chromatography [High-Performance Liquid Chromatography (HPLC), Low Pressure Liquid Chromatography, Flash Chromatography, Other Liquid Chromatography Technologies], Gas Chromatography, Thin Layer Chromatography, Other Chromatography Technologies), End User (Pharmaceutical & Biotechnology Companies, Academic & Research Institutes, Food & Beverage Companies, Environmental Testing Laboratories, Hospital & Diagnostics Laboratories, Oil & Gas Industries, Other End Users), and Geography. The study also evaluates industry competitors and analyzes the regional and country-level markets.

Among the products included in the report, in 2023, the systems segment is expected to account for the largest share of the chromatography market. The large market share of this segment is majorly attributed to advancements made in the systems to increase their accuracy and automation. Also, the increasing need for chromatography for separation and purification of molecules and growing proteomics & genomics-based research contributed to the segments' largest share.

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Among the technologies included in the report, in 2023, the liquid chromatography segment is expected to account for the largest share of the chromatography market. Liquid chromatography is widely used in pharmaceuticals, food and beverages, environmental analysis, and research activities. The ability of liquid chromatography to better separate and quantify compounds for various applications increased their adoption in various sectors, contributing to the segment's largest share.

Among the end users included in the report, in 2023, the pharmaceutical & biotechnology companies segment is expected to account for the largest share of the global chromatography market. Pharmaceutical and biopharmaceutical companies have witnessed significant growth in recent years due to the increased demand for pharmaceutical products. For instance, according to the FDA, 53, 50, and 37 novel drugs were approved in the U.S. in 2020, 2021, and 2022, respectively. The increasing demand for chromatography products for analyzing drug products during the manufacturing process and the adoption of chromatography for QA/QC testing majorly contribute to the segment's growth.

Among the geographies included in the report, in 2023, North America is expected to account for the largest share of the global chromatography market, followed by Europe and Asia-Pacific. The increased R&D expenditure in the pharmaceutical and biopharmaceutical sector, well-established healthcare system, widespread adoption of advanced technologies, strict implementation of food quality and food safety laws, and government support for life science research are the major factors contributing to the large share of this market. However, Asia-Pacific is projected to register the highest CAGR during the forecast period.

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This release was published on openPR.