by Market Overview:
Chromatography refers to a set of laboratory techniques for the separation of mixtures. It is used in chemical analysis of biological molecules, environmental contaminants, drugs, and other mixtures. The most commonly used types of chromatography are gas chromatography, high-performance liquid chromatography, ion chromatography and size-exclusion chromatography. Chromatography is widely used in pharmaceutical, biotechnology, healthcare sectors for drug discovery and development, quality control testing, formulation development and purification procedures. It helps in the separation, identification and quantification of different components in a mixture. Advantages of chromatography include high resolution and reproducibility, accuracy of quantitative analysis, sensitivity, and ability to separate different analytes.
Market key trends:
One of the key trends in the global chromatography market is increased adoption of chromatography techniques in the healthcare sector. Chromatography finds widespread applications in biomedical research, disease diagnosis, drug discovery, and clinical testing. Growing prevalence of chronic diseases and rising focus on precision medicine is driving the demand for chromatography in the healthcare industry. Furthermore, technological advancements have improved the speed, efficiency and resolution of chromatography instruments. For instance, ultra-high performance liquid chromatography provides faster separations and is gaining traction in clinical and pharmaceutical research. Growing biopharmaceutical industry in developing regions also presents lucrative growth opportunities. Growing stringent regulations regarding drug quality control and product safety are propelling the market growth. However, high costs of chromatography equipment and paucity of skilled professionals may restrain the market to a certain extent.
Porter’s Analysis
Threat of new entrants: The Chromatography market requires significant investments in R&D to develop advanced separation techniques. Large companies also benefit from economies of scale which poses entry barriers for new players.
Bargaining power of buyers: Buyers have moderate bargaining power as there are many established players offering chromatography products. However, specialty products reduce buyer substitution threat.
Bargaining power of suppliers: The availability of raw materials and instruments from numerous global suppliers reduces their bargaining power.
Threat of new substitutes: No cost-effective substitute exists currently. However, emerging sample preparation techniques pose a mild threat of substitution.
Competitive rivalry: The market is highly competitive due to presence of large global players. Companies compete based on product quality, technological advancements, and service.
Key Takeaways
The Global Chromatography Market Demand is expected to witness high growth, exhibiting CAGR of 4.8% over the forecast period, due to increasing pharmaceutical R&D investments. North America dominated the market in 2023 owing to the presence of global pharmaceutical companies and research organizations in the region.
Regional analysis
The Asia Pacific region is expected to be the fastest growing market during the forecast period due to rising pharmaceutical manufacturing and increasing investments by market players in the region.
Key players
Key players operating in the chromatography market are Thermo Fisher Scientific Inc., Agilent Technologies, Inc., SHimadZu Corporation, Waters Corporation, Affymetrix, Inc., Siemens Healthcare, Illumina Inc., Horiba Limited, PerkinElmer, Inc., Life Technologies, Protagen AG, Roche Diagnostics Limited, Malvern Panalytical, Tosoh Corporation, Polymer Char, and Potsnova Analytics.
Note:
- Source: Coherent Market Insights, Public sources, Desk research
- We have leveraged AI tools to mine information and compile it
