The chromatography reagents are expected to witness a CAGR of around 6% during the forecast period. The major factors driving the growth of the market studied are increasing academic and commercial research and development (R&D) spending on pharmaceuticals, technological advancements in chromatography reagents, and the growing importance of chromatography tests in drug approvals. On the flip side, the high cost of chromatography systems serves as one of the major stumbling blocks in the growth of the studied market.
– Food and beverage segment dominated the market and is likely to grow during the forecast period, which is expected to be fueled by continuous innovation and development of food and beverage products and rising population adding to the food demand noticeably.
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– The rising importance of green chromatography and growing use of chromatography technique in proteomics, genomics, and metabolomics medicines are likely to provide opportunities for the studied market, during the forecast period.
– North America dominated the market across the world, where the growth is majorly driven by the growing adoption of chromatography technique in pharmaceutical, and food and beverage industries.
Key Market Trends
Food and Beverage Segment to Dominate the Market Demand
– Chromatography reagents are extensively used in the food and beverages industry, for efficient purification of crystalline sugar and liquid sugar syrup.
– These reagents remove salt ions from the raw solutions and adsorb the yellowish-brown substances that give raw sugar its natural color.
– Ion exchange chromatography reagents can also simply and efficiently remove unwanted ionic compounds, such as hardening elements or table salt, from gelatin, pectin, etc.
– Combinations of strongly acidic, gelled and weakly-basic chromatography reagents are generally used for this purpose. The chromatography reagents are certified in many countries, worldwide, for processing food and drinking water.
– North America is currently the leader, in terms of consumption of chromatography reagents in the food and beverages industry. There are a large number of R&D activities currently ongoing in the United States, in the field of food purification, which is driving the market for chromatography reagents in the region.
North American Region to Dominate the Market
– North American region dominated the global market share. The increased adoption of chromatography technique, majorly in food and beverage and pharmaceutical industries, drives the demand for chromatography reagents in the region.
– With the increase in the aging population in the region and the rising number of critical diseases, healthcare expenditure has increased significantly in the region. This has increased R&D investments into the pharmaceutical industry for drug discovery and production, which has further increased the demand for chromatography technique and reagents in the region.
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– The United States stood as the largest consumer of chromatography reagents. In the United States, the largest component of budget expenditure is healthcare.
– With the growing aging population and critical diseases, the demand for monoclonal antibodies has increased noticeably in the country.
– Besides, the United States spends significant resource on water and food purification to protect the health of its citizens, which further adds to the demand for chromatography reagents in the country.
– Hence, all such increasing R&D facilities, discovery and production of drugs, and robust demand for food and beverages and pharmaceutical products in the region are expected to drive the demand for chromatography reagents, over the forecast period.
Competitive Landscape
The chromatography reagents is a consolidated market, where few players account for a significant share of the market demand. Some of the major players in the market include Merck KGaA, Bio-Rad Laboratories Inc., Thermo Fisher Scientific Inc., Tosoh Corporation, and General Electric, amongst others.
1 INTRODUCTION
1.1 Study Assumptions
1.2 Scope of the Study
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1 Drivers
4.1.1 Increasing Academic and Commercial R&D Spending on Pharmaceuticals
4.1.2 Technological Advancements in Chromatography Reagents
4.1.3 Increasing Importance of Chromatography Tests in Drug Approvals
4.2 Restraints
4.2.1 High Costs of Chromatography Systems
4.3 Industry Value-Chain Analysis
4.4 Porter’s Five Forces Analysis
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Consumers
4.4.3 Threat of New Entrants
4.4.4 Threat of Substitute Products and Services
4.4.5 Degree of Competition
5 MARKET SEGMENTATION
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