The growth in this market is driven by high sensitivity &accuracy of the HPLC technique, the growing importance of HPLC tests in drug approvals,the rising popularity of hyphenated techniques, and increasing pharmaceutical R&D spending. However, the high cost of HPLC systems is expected to restrict market growth to a certain extent.
The report High-performance Liquid Chromatography (HPLC) Market is projected to reach USD 5.7billion by 2025 from USD 4.5billion in 2020, at a CAGR of 4.6% during the forecast period.
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Based on the product, the market was divided into instruments, consumables, and accessories. The instrument market is subjected to account for the largest share in the HPLC market and consumables to growth at the highest rate during the forecast period. The need to analyze compounds in trace concentration and the extensive use of the system in forensic institutes and industries such as pharmaceuticals, food, nutraceuticals, cosmetics, and environmental testing calls for growth of the segment.
Based on the application, the HPLC market is divided into clinical research, diagnostics, forensics, and other applications. Clinical research is subjected to grow at the highest rate in the forecast period. A rise in pharmaceutical and biotechnological research fueled by the need for numerous preclinical and clinical studies performed during the drug discovery and development processis said to drive the market.
North America is expected to account for the largest share of the global HPLC market. Market growth in this region is driven primarily by the increase in R&D funding, the growing number of preclinical activities by CROs &pharmaceutical companies, and the increasing food & agricultural industry in Canada.
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The global HPLC market is well established owing to the dominance of prominent market players, such as Waters (US), Agilent (US), Shimadzu (Japan), Thermo Fisher (US), PerkinElmer (US), GE Healthcare (US), Bio-Rad (US), Merck Millipore (Germany), Hitachi (Japan), Showa Denko (Japan), Gilson (US), Phenomenex (US), JASCO (US), Hamilton Company (US), SIELC (US), Orochem (US), YMC Co. Ltd. (Japan), Restek (US), Trajan Scientific (Australia), and Tosoh Bioscience LLC (Japan).