Growth in the HPLC market is likely to be centered in the Asia-Pacific region. Growth in the Asia-Pacific can be attributed to the growth in biomedical and medical research in Japan, strategic expansions by key players and outsourcing of clinical research activities to China, increasing government initiatives and the growing pharmaceutical industry in India, and the favorable regulatory scenario in New Zealand and Australia.
Japan has been a leading market in the life sciences industry. Various government and research institutes in Japan are also contributing to the growth in biomedical research. The Japan Society for the Promotion of Science and the Tokyo Biochemical Research Institute are among the prominent institutes that provide grants for biomedical research. Japan currently has a number of different organizations that conduct biomedical research, including the National Hospital Organization (NHO), National Institute of Radiological Science (NIRS), and National Institute of Biomedical Innovation (NIBIO). Moreover, Japan has also partnered with countries like Russia, India, the U.K., and others to jointly undertake biomedical research which is boosting the demand for research activities and the usage of HPLC products. Japan has also partnered with countries like Russia, India, and the U.K., to undertake biomedical research jointly, thus boosting the demand for research activities and hence the growth in sales of HPLC systems and consumables.
The significance of China’s R&D capabilities has become increasingly important as an emerging force in the globalization of pharmaceutical R&D, thus fueling the use of HPLC systems and consumables. Key industry players are establishing and expanding their presence in China by opening new facilities, R&D centers, and innovation centers in the country. For instance, in June 2013, Thermo Fisher Scientific, Inc. (U.S.) invested USD 9.5 million in its new China Innovation Center in Shanghai. Additionally, in March 2012, Novasep (U.K.) established a new facility in Shanghai to address the growing demand for purification process solutions in China. Furthermore, according to the Council on Foreign Relations (CFR), China is the second-largest investor in R&D and is expected to overtake the U.S. in terms of R&D spending by 2023. The rising R&D activities in the pharmaceutical industry are likely to bolster the demand for HPLC instruments in China.
Development of bioclusters, growing presence of global players, and the rising R&D activities by pharmaceutical companies in the Indian market has encouraged research activities. According to the Pharmaceuticals Export Promotion Council of India, the Indian domestic organized pharmaceutical retail market generated a revenue of around USD 1.395 billion (INR 90 billion) in 2015. The Department of Pharmaceuticals in India has prepared a “Pharma Vision 2020” document for making India one of the leading destinations for drug discovery and innovation. In addition to this, the favorable regulatory scenario in New Zealand and Australia has resulted in the growth of the market for HPLC products in the region.