High Performance Liquid Chromatography Market Poised to Expand at a Robust Pace Over 2025 End
The global HPLC market is expected to expand at a robust CAGR over the forecast period. Greater sensitivity and higher accuracy as compared to conventional chromatographic techniques are the significant factors likely to drive the growth of the global HPLC market over the forecast period. Higher penetration rate of HPLC, increased popularity of LC-MS (liquid chromatography- mass spectrography), surge in usage of HPLC in pharmaceuticals for quality control testing and manufacturing, faster results and separation, and technical advancement are some of the other factors propelling growth of the global market through 2025. Furthermore, growing number of pharmaceuticals in developing and developed countries is anticipated to drive the growth of the global HPLC market. However, high cost of the instrument and lack of expert analysts are factors restraining the growth of the global high performance liquid chromatography market.
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The global HPLC market can be segmented on the basis of product type, application, end users, and region. On the basis of product type, the market can be segmented into instruments, consumables, and accessories. The consumable segment is expected to register highest share during the forecast period, due to its high usage. The instrument segment can be sub segmented into pressure pumps, detectors, fraction collectors, systems and others. Based on application, the global HPLC market is divided into diagnostics, manufacturing and quality control testing, clinical research, forensics and other application. The manufacturing and quality testing segment is anticipated to register considerable market share during the forecast period due to faster results with greater accuracy and higher sensitivity. Based on end users, the global HPLC market can be divided into pharmaceutical industries, academic and research institutes, diagnostic laboratories and others. The pharmaceutical industries segment is expected to register the highest growth during the forecast period due to rise in number of industries.
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The global HPLC market is projected to expand at a significant rate across regions. Geographically, the global HPLC market is divided into North America, Latin America, Europe, Asia Pacific, and Middle East & Africa. North America is the dominating region in the global HPLC market in terms of value and volume. The factors attributed to the growth of the market in North America are - developed healthcare infrastructure, increase in number of industries over a period, high adoption rate of technologically advanced products, rise in healthcare expenditure, and expertise and research activities in the region. Asia Pacific is expected to witness higher growth in the global HPLC market due to factors such as newer technology, rise in disposable income, and increasing funding for research activities.
To maintain a significant position in the global HPLC market, key players are following strategies such as developing user friendly and cost effective products, mergers and acquisitions, robust research and development, geographical expansion etc. Some of the prominent players operating in the global HPLC market include GE Healthcare, WATERS, Bio-Rad Laboratories, Inc., Shimadzu Corporation, Thermo Fisher Scientific Inc, Gilson, Inc., and Higgins Analytical, Inc.
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