Chromatography Reagents Market - Growth, Trends, Covid-19 Impact, and Forecasts (2023 - 2028)

Chromatography Reagents Market - Growth, Trends, Covid-19 Impact, and Forecasts (2023 - 2028)

The chromatography reagents market stood at around USD 8,400 million in 2021, and it is expected to register a CAGR of over 6% during the forecast period.

The market saw a surge in demand in 2021 due to the increase in demand for various medicines in the pharmaceutical industry. Many countries have imposed various regulations with regard to water and the safety of the environment. This has led to increased demand in the market studied worldwide.

· The major factor driving the growth of the market studied is the rising importance of chromatography across various industries.

· Additionally, there is growing awareness about the benefits of chromatography reagents, which drives the market.

Chromatography Reagents Market TrendsThe Pharmaceutical Segment to Dominate the Market Demand

• All pharmaceutical items must be of the greatest quality to ensure the least amount of danger to patients. During the development process, researchers, producers, and developers utilize a variety of technical equipment and analytical processes, like liquid chromatography, to guarantee that the items satisfy the criteria.
• Since drug products must be safe and effective, the pharmaceutical industry is one of the most heavily regulated industries in the world.
• In the pharmaceutical industry, chromatography is used for a variety of tasks, including identifying and analyzing samples for the presence of chemicals or trace elements, preparing large quantities of extremely pure materials, separating chiral compounds, detecting mixture purity and unknown compounds, and drug development.
• The HPLC chromatography technique is the most important analytical techniques used in the pharmaceutical business for identifying and quantifying pharmaceuticals.
• During the research, development, and production of medicine, this is used either in the active pharmaceutical ingredient or in the formulations.
• Therefore, with the growth of the pharmaceutical industry, the demand for chromatography reagents is likely to rise during the coming years.

Strong Growth in the North American Region

• The North American region dominated the global market share. The increased adoption of chromatography techniques, majorly in the food and beverage and pharmaceutical industries, drives the demand for chromatography reagents in the region.
• United States is the leading market for chromatography reagents, with factors such as rising investments in genomics research and development and the availability of sophisticated technologies projected to drive the market in the coming years.
• Many developments are being witnessed in the country’s life sciences sector, with an increasing number of R&D and drug discovery activities. For instance, in September 2021, the National Institutes of Health awarded USD 16 million to the University of Washington School of Medicine scientists and their collaborators to fund two projects within the consortium.
• There has been increased funding to focus on cancer research to address the rising threat of chronic diseases in Canada recently.
• The provincial government awarded the University of Saskatchewan CAD 709,500 in September 2021 to create resources to customize therapy for ovarian cancer patients. The funding was supplied by the Saskatchewan government through Ovarian Cancer Canada's OvCAN research project.
• Due to all the aforementioned factors, North America is expected to have a strong demand in the market studied in the near future.

Chromatography Reagents Market Competitive Analysis

The chromatography reagents is a fragmented market, where a few players account for a significant share of the market demand. Some of the major players (not in any particular order) in the market include Merck, Thermo Fisher Scientific Inc., Avantor, Agilent Technologies Inc., and Shimadzu Corporation.

Additional Benefits:

• The market estimate (ME) sheet in Excel format
• 3 months of analyst support

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