Global chromatography instrumentation market: $10 billion industry forecast by 2018
Chromatography Instrumentation Market: Global Forecast to 2018 - a new market research report on companiesandmarkets.com
PR-Inside.com: 2014-03-25 17:12:01
The global chromatography instrumentation market is estimated at $7,583.8 million in 2013 and is poised to grow at a CAGR of 5.7% from 2013 to 2018, to reach $10,008.3 million by 2018. Chromatography has evolved over the years and has become a method of choice for analysis, identification, and purification of a wide variety of compounds. The market has seen an extraordinary amount of technological advancements in the last few years, as companies have introduced new systems that perform chromatographic procedures in a lesser amount of time and provide more detailed results.
The chromatography systems market comprises liquid, gas, supercritical fluid, thin layer chromatography systems, and other components of systems (detectors, autosamplers, pumps, fraction collectors, and others). The liquid chromatography (LC) systems hold the largest share of 69% of the overall chromatography systems market in 2013. The high share of LC systems in the chromatography systems market is attributed to the large scale application of HPLC systems and the rising use of UHPLC systems.
The market for chromatography consumables is segmented into columns, syringe filters, tubings, vials, and other consumables (injectors and guard columns). The columns market holds the largest share of the consumables market and is expected to grow at the highest CAGR of 6.2% from 2013 to 2018, to reach $2,657.1 million by 2018.
The expanding global biotechnology and pharmaceutical industries and increasing government investments, funds, and grants have stimulated the usage of advanced chromatographic techniques in biotechnology and pharmaceutical industries. Furthermore, research activities in the fields of medicines, proteomics, metabolomics, and genomics have increased the application areas of chromatography instruments. Various factors such as technological advancements, incessant rise in new product launches, and increasing number of conferences are propelling the growth of the chromatography instrumentation market.
North America accounts for the largest share of the chromatography instrumentation market. This large share can be attributed to the augmented research activities for the development of drugs and biologics, chromatography conferences, and direct and indirect government investments in the chromatography instrumentation market. Asia is expected to witness a high growth in the chromatography instrumentation market in the forecast period.
A number of factors such as the increasing number of conferences on chromatography in Singapore and Malaysia; expansion of chromatography companies in China, India, Singapore, Vietnam, and Japan; and prominent pharmaceutical companies outsourcing their drug discovery and development services to the Asian region (especially in China and India) are propelling the demand for separation services and chromatography instruments in Asia.
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