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Nov 13, 2020 (Market Insight Reports) —
Selbyville, Delaware, According to the report titled ‘Global Chromatography Accessories & Consumables Market Size stud, by Product Type, by Technology (Liquid Chromatography and Gas Chromatography), by End-User and Regional Forecasts 2020-2027’, available with Market Study Report LLC, global chromatography accessories & consumables market was worth USD 3.4 billion in 2019 and is expected to grow with a CAGR of 5% during 2020-2027.
Significance of chromatography tests in the process of drug approval, escalating concerns regarding food safety, rising popularity of hyphenated chromatography methods, growing collaborations between academic institutes/ research laboratories and chromatography instrument manufacturers, and increasing investments in pharmaceutical research & development are the key factors driving the growth of global chromatography accessories & consumables market.
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For those uninitiated, chromatography is a physical process of compound separation which assists in the separation of biomolecules and aids in monitoring therapeutic drugs. It is commonly used for chemical mixture separation in environmental testing, food, pharmaceuticals, and chemical laboratories. The setup is applied for separation, recognition, and assessment of amino acids, proteins, vitamins, additives, and preservatives in the food industry. Further, it is incorporated to classify drug compounds such as plasma insulin and trace contamination enzymes in the pharmaceutical sector for quality control.
Major players impacting global chromatography accessories & consumables market dynamics are Hitachi Ltd., GE Healthcare (Cytiva), Bio-Rad Laboratories, Inc., Phenomenex, Inc., Merck KGaA, PerkinElmer, Inc., Thermo Fisher Scientific, Inc., Shimadzu Corporation, Waters Corporation, and Agilent Technologies, Inc.
The government of India is preparing to increase public health investment to 2.5% of the country’s GDP by 2025, according to India Brand Equity Foundation (IBEF). Hence, similar initiatives by federal agencies in various nations is propelling worldwide chromatography accessories & consumables industry expansion.
However, lack of skilled professionals and hefty cost of chromatography equipment are likely to act as restraining factors for the industry growth over the study period.
Citing the regional landscape, global chromatography accessories & consumables market sphere is segmented into North America, Asia Pacific, Latin America, Europe, and Rest of the World. The report claims that North America currently accounts for a significant market share and is projected to grow further over the analysis period. The regional growth is credited to increasing number of metabolomics research activities in the United States, strict regulations regarding drug development, and high funding towards medical research.
For More Details on Chromatography Accessories & Consumables Market Report at:https://www.marketstudyreport.com/reports/global-chromatography-accessories-consumables-market-size-stud-by-product-type-columns-column-accessories-and-consumables-autosamplers-autosamp?utm_source=Marketwatch.com/&utm_medium=SP
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