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.
What the Market Looks Like?
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.
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.
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What Drives the Market?
The growth of the global market for Chromatography Instruments is primarily influenced by the following factors:
- Policies and Initiatives to Reduce Environmental Pollution Levels
- Growing Food Safety Concerns
- Growing Importance of Chromatography Tests in the Drug Approval Process
- Rising Popularity of Hyphenated Techniques
- New Product Launches and Their Expanding Application Areas
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.
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Key Market Players:-
In 2017, Agilent Technologies, Inc. (U.S.) and Waters Corporation (U.S.) dominated the global chromatography instruments market.