LOS ANGELES, March 08, 2021 (GLOBE NEWSWIRE) -- The Global Chromatography Market is anticipated to grow at a CAGR of around 9.0% during the forecast period 2020 to 2027 and to reach around US$ 9.5 Bn by 2027.
Increasing applicability of chromatography in various end-use industries is a major factor expected to drive the growth of global chromatography market.
North America is expected to account for a major revenue share in the global chromatography market due to rapid advancements in the medical sector owing to high government spending in the development of novel drugs. Manufacturers are focused on enhancing the R&D capabilities by the introduction of advanced experimental devices. In addition, the availability of advanced infrastructure for R&D activities and the introduction of innovative products are expected to support the growth of the chromatography market. Major players approach towards strategic merger and acquisition activities in order to enhance the customer base and increase the revenue share is expected to support the growth of the regional market
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The market in Asia Pacific is expected to witness faster growth in the chromatography market due to high government expenditure on the development of the biopharmaceutical sector. Supportive financial aid from the government and the emergence of small & mid-size enterprises is expected to support the target market growth. According to IBEF, the biotechnology industry comprises >2,700 biotech start-ups and >2,500 biotech companies in India.
The presence of a large number of players operating in China and India and the introduction of new products is impacting the growth of the chromatography market. Major players are focused on shifting their production facilities to developing countries due to easy availability of raw material and low cost labor. In addition, an approach towards tracking the untapped market in emerging economies will further augment the growth of the chromatography market.
Huge investment by the public and government bodies and drug discovery taking place across the globe demand for advanced analytical tools that aid in the separation of components or mixtures is increasing. Flourishing biopharmaceutical sector across the globe and bioinformatics and DNA fingerprinting gaining attraction, coupled with product development activities by major players in order to deliver advanced tools are factors expected to augment the growth of global chromatography market.
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- In 2020, SCION Instruments, a global medical instrument manufacturing company launched LC6000 Liquid Chromatograph. The SCION 6000 Series offers an array of automation options for workflow optimization, making the lab experience the best and easiest possible. This product launch is expected to help the company to enhance the business and increase the revenue share.
- In 2017, Kaneka Corporation, a chemical manufacturing company launched KANEKA KanCapA 3G”, a new protein A chromatography resin for the purification of therapeutic antibodies. This product launch is expected to help the company to enhance the product portfolio and increase the revenue share.
- In 2020, Avantor, Inc., a global provider of mission-critical products and services to life sciences, advanced technologies, and applied materials industries launched recombinant Protein A affinity chromatography resin used to purify antibodies during mAbs production. This product launch is expected to help the company to increase the customer base.
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Government is focused on strengthening the regional manufacturing capabilities, high spending on infrastructure development and availability of favorable business policies is resulting in the emergence of small & mid-sized enterprises with innovative solutions is expected to boost the growth of global chromatography market. Factors such as high cost of devices and high spending on R&D activities are expected to hamper the growth of global chromatography market. In addition, the lack of developed infrastructure in developing countries is expected to challenge the growth of target market. However, increasing investment by major players for R&D activities, focus on introduction of low cost innovative products, and integration of advanced analytical solutions for better results are factors expected to create new opportunities for players operating in the chromatography market over the forecast period.
In addition, increasing acquisition activities by major players in order to enhance the business is expected to support the revenue transaction of the target market. Players operating in the global chromatography market are Agilent Technologies Inc., Hitachi Ltd., Danaher Corp., Merck KGaA, Catapult Therapy TCR Ld., Bio-Rad Laboratories Inc., Shimadzu Corp., Siemens AG, PerkinElmer Inc., Sigma-Aldrich, Pall Corporation, Sciex, Waters, Purolite Ltd., Fluigent, Thermo Fisher Scientific Inc., and Valco Instruments Co. Inc. The market is highly competitive due to the presence of a large number of players operating on a global level.
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