Catalyzing Growth: The Global Reaction Monitoring Market is Set to Reach $1.52 Billion by 2022
According to market research report, "Reaction Monitoring Market by Technology (Spectroscopy (MS, IR, UV, NMR, Raman), Chromatography (GC, LC), Calorimetry, Titrimetry, XRD), Mode (Quantitative, Qualitative), End User (Research, Pharma-Biotech, Food & Beverages Co) - Global Forecasts to 2022", The global reaction monitoring market is projected to reach USD 1.52 Billion by 2022 from USD 1.15 Billion in 2017, at a CAGR of 5.7%. The report analyzes and studies the major drivers, restraints, opportunities, and challenges of the reaction monitoring market in North America, Europe, Asia Pacific, and the Rest of the World (RoW).
Factors such as stringent regulatory guidelines in the pharmaceutical & biotechnology industry; expansion of the food and beverages industry; and Increasing public-private investments in life science research are driving the reaction monitoring market. However, high product costs associated with analytical instruments is the major factor restraining the market growth to a certain extent.
Based on reaction mode, the market is segmented into qualitative reaction mode and quantitative reaction mode. The quantitative reaction mode segment is estimated to command the largest share of the global market in 2017.
The large share of this segment is mainly due to factors such as ongoing technological advancements in the field of analytical techniques (such as real-time quantification, device miniaturization, and process automation) and ongoing expansion and modernization of the pharmaceutical & biotechnology and food processing industries.
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Based on end user, the pharmaceutical, biopharmaceutical, and biotechnology companies segment expected to account for the largest share of the market in 2017
Based on end user, the reaction monitoring market is segmented into pharmaceutical, biopharmaceutical, and biotechnology companies, life science and genomic research facilities, food and beverage industry, pollution monitoring and control industry, and other end users. The pharmaceutical, biopharmaceutical, and biotechnology companies segment is estimated to command the largest share of the global reaction monitoring market in 2017. The large share of this segment is mainly due to factors such as the fastest-growing segment of the market during the forecast period due to the stringent regulations for pharmaceutical drug development and manufacturing (such as cGMP, cGLP, and EXCiPACT certification) and increasing usage of analytical techniques during quality assessment during drug manufacturing.
In 2017, North America is expected to account for the largest share of the reaction monitoring market
Geographically, the reaction monitoring market is segmented into North America, Europe, Asia Pacific, and the Rest of the World. North America is expected to account for the largest share of the global reaction monitoring market in 2017. The growth of this region is attributed to the availability of private-public funding & investments for life science research, stringent regulatory framework for drug development & commercialization, effective implementation & industrial compliance with food safety regulations, rising adoption of technologically advanced pollution monitoring & control products, and growing number of clinical researches in this region.
The major players in the market are Agilent (US), Danaher (US), PerkinElmer (US), Shimadzu (Japan), Thermo Fisher Scientific (US), Bio-Rad Laboratories (US), Bruker (US), Waters (US), Hitachi High-Technologies (Japan), Merck (Germany), ABB (Switzerland), Mettler-Toledo International (US) , and HORIBA (Japan).
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