New York, USA, June 02, 2022 (GLOBE NEWSWIRE) -- Chromatography Software Market Overview
According to a Comprehensive Research Report by Market Research Future (MRFR), “Chromatography Software Market Information by Device Type, Deployment Mode, Application, End-Use, and Region - Forecast till 2030”, the market size is projected to reach USD 15,330 Million and expected to grow at CAGR 8.1% during the forecast period.
Market Scope:
The surgical navigation system is a computer-based service business that aids in the provision of high-quality procedures in orthopedics, dentistry, neurology, ENT, cardiac, and other fields with low possibilities of surgery failure and a high success rate. It allows doctors and medical workers to perform a pre-planned scan of the test, giving them a clear roadmap on how to operate on patients and accurate surgical instrument navigation during the procedure.
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Report Scope:
| Report Attribute | Details |
| Market Size | USD 15,330 Million |
| CAGR | 8.1% |
| Base Year | 2021 |
| Forecast Period | 2022-2030 |
| Historical Data | 2020 |
| Forecast Units | Value (USD Million) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | By Device Type, Deployment Mode, Application, End-User, Region |
| Geographies Covered | North America, Europe, Asia-Pacific, and Rest of the World (RoW) |
| Key Market Drivers | Growing applications of chromatography in different fields |
| Technological advancements in chromatography software. |
Chromatography Software Market Competitive Dynamics:
The Chromatography Software Market has had a tremendous and nail-biting competitive landscape, with new competitors entering the market with ease and older players investing heavily in this area. The big names from this market are:
- Scion Instruments (UK)
- Agilent Technologies, Inc. (US)
- GE Healthcare (US)
- KNAUER Wissenschaftliche Geräte GmbH (Germany)
- Gilson Incorporated. (US)
- Waters Corporation. (US)
- Shimadzu Corporation (Japan)
- Bruker Corporation (US)
- Restek Corporation. (US)
- DataApex, spol. s r.o. (Czech Republic)
Market Dynamics:
Market Drivers:
The rapid increase in cases of foodborne illnesses owing to the intake of food laden with pathogens, yeasts, and mycotoxin has raised the need for food safety testing worldwide. The World Health Organization (WHO) says that close to 435,000 individuals lose lives due to the consumption of contaminated food, leading to the loss of around 38 million lives every year. Thus, numerous food testing facilities are opting for chromatography software at several phases of food safety testing to assess the quality of food, which in turn is promoting market growth.
The notable upsurge in the number of R&D activities combined with heavy investments in clinical trials for developing novel medications should benefit the worldwide market too.
Major companies are taking up strategic measures including new product innovation, forward integration, FDA approvals, research collaborations, and geographical expansion to gain higher traction in the market. To illustrate, in January 2022, the USFDA expanded the contract with Waters Corporation Empower Chromatography Data Software (CDS) to facilitate its medical products testing laboratories at its five major field science laboratories. This deployment is expected to bolster the firm’s existing series of products while complementing its chromatography data system’s product portfolio, providing new opportunities.
Market Restraints:
The shortage of proficient and skilled laboratory workforce that can handle chromatography software can leave an adverse effect on the worldwide market. The software is quite complex in nature and requires skilled workers to use them.
COVID 19 Analysis
The COVID-19 outbreak has, to some extent, been favorable for the chromatography software market, rendering a tremendous impact on its growth rate. This can be in response to the extensive use of the advanced chromatography techniques to assess the drugs and their efficacy and safety as a treatment line for COVID-19. The pandemic put severe pressure on the healthcare sector, hindering the operational capacities of the clinical laboratories as well as biopharmaceutical companies. There was considerable duress on the laboratories to enhance testing volume, focus more on R&D activities and deliver quick clinical results.
There were considerable numbers of SARS-CoV-2 testing all through 2021 and 2022. The high pressure to enhance testing volume and R&D created a colossal demand for chromatography software. This is because these devices help in data filtering, data processing, and database management for better performance and efficiency in line with precise clinical results. In a lot of ways, the COVID-19 pandemic heightened the need for chromatography software, which translated into substantial market growth.
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Market Segmentation
By Device Type
Standalone and integrated are the device types considered in the report. The integrated chromatography software segment could head the worldwide market in the near future, garnering an incredible share of 76.5%. The segment’s noteworthy progress is the result of the mounting requirement for workflow integration for enhanced effectiveness along with the rising awareness of the technology.
By Deployment Mode
Cloud-based, on-premise, and web-based are the deployment mode-based segments listed in the MRFR study. The on-premise segment will thrive at a 7.6 % CAGR between 2020 and 2030. The web-based chromatography software segment, on the other hand, captured a 38% share in the global market in 2021. The web-based deployment mode segment is performing extremely well owing to the fact these systems offer access through network connection while cutting down handling expenses.
By Application
The key applications of chromatography software include food and beverage industry, pharmaceutical industry, forensic testing, environmental testing, and others. In 2020, the market was headed by the pharmaceutical industry segment, which occupied a share of 33.4%. This could be owing to the extensive deployment of liquid chromatography for reviewing the components and elements of a drug formulation along with the rising prominence of various disorders. The environmental testing segment can expect to attain the fastest growth in response to the heightened use of chromatographic techniques to understand the environmental state and the irregularities in it.
By End-User
Academic and research institutes, hospitals and clinics, pharmaceutical and biotechnology companies, and testing facilities are the major end-users in the worldwide market. The academic and research institutes segment is all set to record a 7.7% growth rate from 2022 to 2030. The notable growth of the segment is due to the widespread use of the software in a number of academic & research institutions and the surge in research volume.
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Regional Insights
North America occupies the biggest share of 49.1% in the worldwide market, thanks to the escalating use of chromatography software in laboratory testing as well as research activities. The market expansion is further fostered by the rising number of policies that encourage the use of chromatography software for accurate results. Besides, the surging digital literacy, the emergence of technologically innovative infrastructure, and the strong base of highly eminent companies in the region including Bruker Corporation and Cytiva will enhance the market size.
Asia Pacific can project the fastest growth in the upcoming years, on account of the soaring use of chromatography software in multiple applications, including forensic, drug, food testing, and environmental. The market expansion is also in response to the rising number of government initiatives with a focus on lab automation as well as the heightened awareness level and adoption of the technology in laboratories.
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The European market for chromatography software benefits from the rising spending by the government on R&D activities. The robust base of several renowned players contributes to the market growth as well. The notable surge in R&D activities by academic institutes could further enhance the product acceptance rate. The German Academic Exchange Service reveals that more than 1400 research institutions are active in Germany. Therefore, the rise in research volume combined with the surging uptake of chromatography software at research and academic institutes will spur industrial growth.
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