December 11, 2018
WELLESLEY, Mass., Dec.11, 2018 – The global chromatography market is driven by innovations in technology and increased demand from the pharmaceutical and biotechnology sectors. There is a growing need for chromatography instruments and reagents for research and development. According to a new BCC Research forecast, this market will reach $14.0 billion by 2023.
Chromatography occupies a prominent place in the analytical and separation domain. Advances in technology have enabled improvements in chromatography methods that have led to higher resolutions, peak separation, enhanced sensitivity and faster speeds of analysis. From an estimated value of $9.8 billion in 2018, a 5-year compound annual growth rate (CAGR) of 7.3% is projected in the report “Chromatography in Pharmaceuticals and Biotechnology: Global Markets.”
Restraints hindering the global chromatography market’s growth include the high cost of chromatography equipment, in addition to expensive resins and packing material. The need for skilled personnel also limits the use of chromatography techniques in routine applications.
“Designs of miniaturized systems and chip-based chromatography systems with micro-and nanoflow technology are the latest additions driving growth of the chromatography market,” said Dr. Kamba Jhamb, the report’s author. “Mergers and acquisitions, increased research budgets and growing healthcare infrastructure, particularly in emerging countries, are also driving the market.”
Asia-Pacific/Emerging Countries Will Grow the Fastest
Tremendous growth opportunities in emerging countries—particularly the Asia-Pacific region due to its vast populations, developing healthcare infrastructures and favorable government incentives—are attracting many potential chromatography players to these areas. Emerging markets for chromatography are expected to have the highest growth rate at a CAGR of 8.1% through 2023.
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Chromatography in Pharmaceuticals and Biotechnology: Global Markets( BIO163A )
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