The chromatography instrumentation market has been segmented by applications into life sciences, food & beverages, environmental testing and others. Among these segments, the life sciences segment garnered the highest revenue in previous years. Factors such as high accuracy, precision and quantification are believed to benefit the expansion of the chromatography instrumentation market by the end forecast period.
The global market of chromatography instrumentation is expected to reach USD 9.5 Billion by the end of 2020 as compared to USD 7.3 Billion in 2015 by expanding at a compound annual growth rate (CAGR) of 4.5% over the period 2015-2021. The rising popularity of hyphenated chromatography techniques is anticipated to drive the growth of the market. Further, the safety concerns regarding food and increasing usage of chromatography instrumentation in drug approval tests are some of the factors that are estimated to boom the chromatography instrumentation market by noteworthy revenue by the end of 2021.
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In the regional segment, North America holds the highest rank in overall chromatography instrumentation market owing to increasing government expenditure on research and development activities in the healthcare industry. The United States is expected to be the largest region to hold highest market shares in chromatography instrumentation in North America followed by Canada. Further, the increasing research for the development of new and innovative drugs is anticipated to make Europe as the second largest chromatographic instrumentation market after North America. Factors such as rising awareness on food security and increasing government funding on biochemical research in countries such as India, China, Japan and Singapore are anticipated to foster Asia-Pacific chromatographic instrumentation market with a remarkable growth.
Expansion in Biotech Industries to Augment the Market
The growth of the market is driving on the back of the expansion of pharmaceutical and biotechnology industries. Further, the rising government policies and funding on R&D (Research & Development) on biotechnological industries are anticipated to propel the growth of chromatography instrumentation market across the globe.
However, high cost, global economic slowdown and lack of skilled technicians are some of the factors that are estimated to inhibit the growth of the chromatography instrumentation market in the near future.
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Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model.
This report also provides the existing competitive scenario of some of the key players of the chromatography instrumentation market which includes company profiling of Thermo Fisher Scientific Inc., PerkinElmer Inc., Agilent Technologies, Shimadzu Corporation, Novasep Holding S.A.S., Waters Corporation, JASCO Inc., Pall Corporation, AB SCIEX LLC and Bio-Rad Laboratories Inc.
The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the chromatography instrumentation market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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