The rising popularity of hyphenated chromatography techniques, the growing importance of chromatography tests in the drug approval process, and rising food safety concerns are the major factors driving the growth of this market.
The report Chromatography Instruments Market was valued at USD 7.8 billion in 2017. This market is estimated to grow at a CAGR of 6.9% during the forecast period, expected to be worth USD 10.9 billion by 2022.
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Based on type, the chromatography instruments market is segmented into systems, detectors, auto-samplers, and fraction collectors. The systems segment dominated this market in 2017 and is also estimated to grow at the highest CAGR during the forecast period. Technological advancements and the improved capabilities of chromatography systems to analyze complex compounds are the major factors driving the growth of this segment.North America was the largest revenue generator of the global chromatography instruments market in 2017, closely followed by Europe. Increasing funding for R&D activities in the life science industry in the US is one of the major factors responsible for the large share of North America in the chromatography instruments market.
Life science research, food & beverage testing, environmental testing, and other applications are the main segments of the market. Life science research is the largest and the fastest-growing application segment in this market majorly due to the increasing importance of chromatography tests in the drug approval process and the rising number of R&D activities in the pharmaceutical and biotechnology industries.
In the coming years, the growth of the European market would be driven by factors such as the increasing focus on food safety in the UK, growth of the cosmetics industry in France, and the rising pharmaceutical R&D expenditure in RoE (Rest of Europe) countries.
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The key players present in this market include Agilent Technologies, Inc. (US), Waters Corporation (US), Shimadzu Corporation (Japan), Thermo Fisher Scientific, Inc. (US), and PerkinElmer, Inc. (US).