The global chromatography instruments market is projected to reach USD 10.99 billion by 2022 from USD 7.86 billion in 2017, at a CAGR of 6.9%. Factors such as rising food safety concerns, increasing use of chromatography tests in the drug approval process, and growing popularity of hyphenated chromatography techniques are driving the growth of this market.
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Emerging markets such as Europe have a higher potential for growth in the chromatography instruments market due to the presence of major life science companies and increasing pharmaceutical research funding. Factors such as rising importance of food safety in the U.K., growth of the cosmetics industry in France, and the increase in R&D expenditure in the pharmaceutical industry in the RoE is expected to boost the adoption of chromatography instruments in these countries; generating a significant growth opportunity for the players competing in the global chromatography instruments market during the forecast period.
On the basis of type, the chromatography instruments market is segmented into systems, detectors, auto-samplers, and fraction collectors. The systems segment is expected to register the highest CAGR during the forecast period. Factors such as rising awareness about food safety and environmental testing are driving the growth of this segment.
The chromatography instruments market is further classified into consumables and accessories. The consumables segment is expected to grow at the highest rate during the forecast period. The increase in environmental protection activities is a key factor driving the growth of the consumables segment.
Based on application, the chromatography instruments market is further segmented into life sciences, environmental testing, food and beverage testing, and other applications. The life science industry is expected to grow at the highest CAGR during the forecast period. This growth is mainly due to the increased R&D in the pharmaceutical and biotechnology sector.
Geographically, the chromatography instruments market in the North American region is expected to register the highest CAGR during the forecast period. Growth in this regional segment is largely driven by increase in funding for R&D activities, environmental testing, food testing industry, and the rising investment by the government to improve laboratory infrastructure.