Chromatography is a laboratory technique used for the separation of mixtures through the differential migration and partitioning of its components. It has wide applications in fields like biochemical, medical, chemical and environmental research for separation and purification of compounds. The growing need for drug development and production is significantly driving the demand for chromatography techniques.
The global Chromatography Market is estimated to be valued at US$ 11702.77 Mn in 2023 and is expected to exhibit a CAGR of 5.0% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
The increasing drug development and production activities has been propelling the growth of the chromatography market. With rising investments in pharmaceutical R&D, drug makers are increasingly relying on chromatography techniques for purification and separation of new molecules during drug development and production processes. Chromatography helps pharmaceutical companies to efficiently manufacture drugs on a large commercial scale by separating different chemical constituents of a mixture. Furthermore, growing burden of chronic diseases and increasing drug approvals have augmented the overall pharmaceutical production volumes, thereby favoring the demand for chromatography from this industry.
SWOT Analysis
Strength: Chromatography has wide applications in pharmaceutical, biotechnology and other life sciences industries. It offers high precision and accuracy in separation, identification and purification of chemical and biological molecules.
Weakness: Chromatography requires expensive instruments and technical expertise to operate. Changes or upgrades in chromatography technologies require high capital investments which can be a financial challenge for small companies.
Opportunity: Growing demand for therapeutic monoclonal antibodies, increasing R&D expenditure in pharmaceutical and biotechnology industries and stringent regulatory guidelines for new drug approvals are driving the need for chromatographic techniques. Developing regions offer immense growth opportunities owing to increasing research activities.
Threats: Availability of alternative separation techniques and price pressures from generic drug manufacturers can threaten the chromatography market to some extent. Trade barriers and stringent environmental regulations for disposal of chromatographic waste are other challenges.
Key Takeaways
The global chromatography market Size is expected to witness high growth. The market size is projected to reach US$ 11702.77 Mn by 2023 from US$ 8264.58 Mn in 2018, at a CAGR of 5.0% during the forecast period.
Regional analysis: North America dominates the global market due to presence of major pharmaceutical companies and rapid adoption of advanced chromatographic systems. The U.S accounts for the largest market share. Asia Pacific chromatography market is growing at a higher CAGR owing to increasing scientific research and large patient pool. Countries like China and India offer lucrative opportunities.
Key players: Key players operating in the chromatography market are Fagron Sterile Services US, New Drug Loft & VLS Pharmacy, Nora Apothecary, Lifecare Pharmacy, Avella Specialty Pharmacy, Triangle Compounding Pharmacy, O’Brien Pharmacy, Tache Pharmacy, Northmark Pharmacy, Edge Pharma, and ImprimisRx. These players are focusing on new product development and mergers & acquisitions to strengthen their market position.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
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