Liquid Chromatography Instruments Market Scenario
Market Research Future (MRFR) speculates that the global liquid chromatography instruments market is slated to register a CAGR of 7.5% and garner USD 11 billion during the forecast period (2014-2027). Technological advancements in chromatography instruments are estimated to favor the market growth. Liquid chromatography can be referred to as an analytical chromatographic technique which is used to separate molecules or ions that are dissolved in a solvent. Instrumentation comprises a column along with a fritted bottom which holds a motionless phase in equilibrium with a solvent. Liquid chromatography instruments find its applications in biotechnology, pharmaceutical, diagnostics, food production, drug discovery, genetic engineering, and water analysis.
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Liquid Chromatography Instruments Market Potential and Pitfalls
Liquid chromatography instruments market is presumed to experience a stellar CAGR during the appraisal period owing to the growing technological advancements in instrumentation which is considered the primary growth factor for the market’s growth. The market has witnessed several technological developments in order to meet the requirements of biopharmaceutical and biotechnology companies, chemical, F&B, environmental testing, and semiconductor industries. Such advancements have further resulted in the development of automated, miniaturized, and computerized devices, thereby triggering the demand for liquid chromatography instruments market across the globe.
The market’s course is chiefly directed by factors such as growth in CROs and generics, investments by the government in life sciences and academics, surging application in life science, therapeutic conversion to biological entities, and biotechnological sector. The CROs and generics are growing owing to the rising demand for drug development and convenient methods which have resulted in the growth of chromatography instruments.
With the introduction of chromatography tests in the approval of drugs, the market is flourishing. Chromatography techniques are widely used method validation and analytical procedures of biologics and drugs. Such techniques provide accurate results in order to validate characters like linearity, specificity, accuracy, range, precision, detection limit of various drugs, and quantitation limit.
On the contrary, limited availability of liquid chromatography instruments especially in the underdeveloped regions, the high cost of such instruments, and government regulations and policies are some of the major factors considered to vitiate the market growth throughout the appraisal period. Moreover, the lack of skilled personnel for handling such equipment are estimated to deter the market growth.
Liquid Chromatography Instruments Market: Segmental Analysis
The global liquid chromatography instruments market has been segmented on the basis of technique, type, and end users.
By mode of technique, the global liquid chromatography instruments market has been segmented into UHPLC, HPLC, FPLC, LPLC, and others. Among these, the HPLC technique is predicted to expand at a significant rate owing to the surging utilization of processed and packaged food items. Extensive R&D activities and increased usage in the drug development process have further contributed to the growth of the segment.
By mode of type, the global liquid chromatography instruments market has been segmented into consumables, instruments, and services.
By mode of end-users, the global liquid chromatography instruments market has been segmented into academic & research institutes, pharmaceutical & biotechnology company, agriculture industry, hospitals, and others. Among these, the pharmaceutical & biotechnology company occupies a major share in the market. The growth in this segment is credited to the growing R&D development for biosimilars and pharmaceutical drugs and increased drug discovery.
Liquid Chromatography Instruments Market Regional Insights
Geographically, the liquid chromatography instruments market span across regions namely, Europe, North America, Asia Pacific, and the Middle East & Africa.
Among all the regions, the American region is considered to occupy the largest market share owing to the presence of North America. The dominance in this region is attributed to the rising funding and investment by the government for R&D activities. However, the market in the U.S. is likely to decline in the coming years due to its market maturity. The European region is estimated to showcase a CAGR of 7.8% and is slowly catching up with the American market.
The Asia Pacific region is likely to expand at a CAGR of 7.7% during the appraisal period and is considered to show a healthy growth owing to the expansion of chromatography companies in regions of China, India, Singapore, Japan, and Vietnam. Moreover, prominent pharmaceutical companies are continuously outsourcing their drug and development services which is favoring the market growth in this region.
Liquid Chromatography Instruments Industry Updates
March 06, 2019: A global not-for-profit working to minimize the barriers to innovation in life science R&D, The Pistoia Alliance has recently released a proof of concept (PoC) software which enables the digitization of analytical method descriptions. The PoC is for high-performance liquid chromatography and will soon be extended for chemical analytical techniques.
Liquid Chromatography Instruments Market Competitive Dashboard
The prominent players operating the global liquid chromatography instruments market are Phenomenex, Waters Corporation, Bruker Corporation, Thermo Fisher Scientific Inc., Shimadzu Corp, Agilent Technologies, and PerkinElmer.
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