The Chromatography market is estimated to be valued at US$ 11702.77 Mn in 2023 and is expected to exhibit a CAGR of 4.8% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market Overview:
Chromatography refers to a family of laboratory techniques for the separation of mixtures. The mixture is dissolved in a fluid called the mobile phase, which carries it through a structure holding another material called the stationary phase. The variations in migration and distribution of the chemical components between the two phases forms the basis of the separation process. The major applications of chromatography includes separation of components in chemical, purification of antibiotics and proteins in pharmaceutical industry, isolation of similar compounds from complex mixtures like natural products, diagnosis of diseases and forensic analysis.

Market Dynamics:
The growing pharmaceutical and biotechnology industries globally is expected to drive the growth of chromatography market over the forecast period. According to International Trade Administration, the global biopharmaceutical market was valued at US$ 263 billion in 2018 and is projected to reach US$ 411 billion by 2025, growing at a CAGR of 6.5%. This growth can be attributed to increasing R&D investments by key players, rising incidence of chronic diseases and growing demand for biologics and biosimilars. Chromatography techniques find widespread applications in research, development and manufacturing processes of pharmaceutical and biotech industry.

Another factor fueling the market growth includes growing demand for therapeutics based on monoclonal antibodies. Monoclonal antibodies such as Adalimumab, Infliximab, Rituximab and Trastuzumab are in high demand owing to their selective targeting of diseased cells. As per Allied Market Research, global monoclonal antibodies market valued at US$ 123.5 billion in 2018 and is estimated to reach US$ 429.9 billion by 2026 growing at a CAGR of 17.1%. Chromatography plays a vital role in downstream purification process of monoclonal antibodies. Growing demand for monoclonal antibodies is expected to contribute to the overall growth of chromatography market over the forecast period.

SWOT Analysis

Strength: Chromatography technique provides an efficient and cost-effective method for separating mixtures. It offers higher selectivity and resolution of complex samples. Growing funding and investments by governments and major players in R&D of chromatography are also fueling the market growth.

Weakness: Lack of skilled professionals to operate complex chromatography instruments is a major challenge. High cost of advanced chromatography systems can limit its adoption in resource-limited settings.

Opportunity: Growing focus on detecting toxins, poisons, and impurities in food, medicines, and environmental samples boosts demand. Growing pharma and biotech industry globally is opening new application areas for chromatography. Advancements in hyphenated techniques offer new opportunities.

Threats: Slow regulatory approval processes for new techniques prolongs commercialization. Rising subsidy on cheaper alternative separation techniques can threaten growth.

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 drug development and approval activities globally. Rapid development of the pharmaceutical industry is one of the major driver of the chromatography market.

Regional analysis
North America is expected to dominate the global chromatography market during the forecast period. This is attributed to presence of major players, availability of funds for R&D activities, and adoption of advanced technologies in industries like pharma and biotech in this region. Asia Pacific is projected to exhibit fastest growth rate during the forecast period due to expansion of pharmaceutical and biotechnology industries and improving healthcare infrastructure in emerging economies like China and India.

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. These key players are focusing on new product launches and expansion strategies to gain higher market share.

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