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Flow Chemistry Market Overview and 2024 Growth Prospects - Global Report
Flow Chemistry Market Overview
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According to The Business Research Company's, The flow chemistry market size has grown rapidly in recent years. It will grow from $2.09 billion in 2023 to $2.35 billion in 2024 at a compound annual growth rate (CAGR) of 12.7%. The growth in the historic period can be attributed to chemical process optimization, green chemistry principles, pharmaceutical industry growth, continuous manufacturing advancements,safety and scalability.
The flow chemistry market size is expected to see rapid growth in the next few years. It will grow to $3.93 billion in 2028 at a compound annual growth rate (CAGR) of 13.7%. The growth in the forecast period can be attributed to sustainable manufacturing practices, specialty chemicals productio, adoption in emerging markets, continuous flow catalysis, energy efficiency. Major trends in the forecast period include pharmaceutical drug synthesis, miniaturization and microreactors, multistep and complex reactions, flow chemistry in fine chemicals, advanced microreactor technologies.
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Market Drivers and Trends:
The increasing pharmaceutical industry is expected to propel the growth of the flow chemistry market going forward. The pharmaceutical industry manufactures drugs and medicines for various types of diseases. Flow chemistry is used in the pharmaceutical industry for drug discovery, chemical process development, and manufacturing. For instance, according to a report by the Federation of Indian Chambers of Commerce & Industry (FICCI), an India-based non-governmental trade association and advocacy group, for the year 2021, the Indian pharma industry reached USD41.7 billion in 2020 and is expected to reach USD130 billion by 2030. Also, for the year 2020, pharmaceutical exports reached $20.7 billion, while imports totaled $2.31 billion. Therefore, the increasing pharma industry is expected to propel the growth of the flow chemistry market going forward.
The development of new facilities have emerged as a key trend gaining popularity in the flow chemistry market. Major companies operating in the flow chemistry sector are focused on developing new procedures to sustain their position in the market. For instance, in July 2023, PharmaZell GmbH, a Germany-based pharmaceutical company launched cGMP Pilot Facility. The facility is made to facilitate the manufacturing of complex APIs, where flow chemistry has benefits including enhanced process control, safety, and effectiveness. The cGMP pilot facility enables the creation and improvement of these procedures, which are thought to be a crucial tool for managing delicate chemical interactions.
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Major Key Players of the Market:
AM Technology Co Ltd., CEM Corporation, Milestone Srl, Biotage AB, Syrris Ltd., Vapourtec Ltd., ThalesNano Inc., Hel Group, Uniqsis Ltd., Chemtrix BV, Ehrfeld Mikrotechnik BTS, Future Chemistry Holding BV, Corning Incorporated, Cambridge Reactor Design Ltd, PDC Machines Inc, Parr Instrument Company, Lonza Group Ltd, Radleys, Sicco Engineering Srl, Syntesia, Top-Chem Fluid Control, UCT Co. Ltd., AMT Flow Designs Inc., Alfa Laval AB, Antion Italy Srl, H.E.L Group, ThalesNano Inc, Little Things Factory GmbH
Flow Chemistry Market 2024 Key Insights:
• The flow chemistry market size is expected to see rapid growth in the next few years. It will grow to $3.93 billion in 2028 at a compound annual growth rate (CAGR) of 13.7%.
• Pharmaceutical Industry'S Surge Fuelling Growth In The Flow Chemistry Market
• Pharmazell'S Cgmp Pilot Facility Sets The Tone For Advanced Api Manufacturing
• North America was the largest region in the flow chemistry market in 2023
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