According to FutureWise analysis the market for chromatography instruments in 2023 is US$ 10.05 billion, and is expected to reach US$ 15.21 billion by 2031 at a CAGR of 5.30%.
The rising adoption of chromatography for the process of drug approval along with the rising demand for hyphenated chromatography methods are some of the factors responsible for the chromatography instruments market growth. The GC-MS and LC-MS techniques are widely accepted for approving drugs for purifying, separating and analysing raw materials, excipients and active pharmaceutical ingredients. The mandate put on by the CCGMP regulations state that all the raw materials or ingredients should be examined before using them for preparing or manufacturing drug products. The chromatography procedures chosen for testing drug products are primarily based on factors like detection limit, accuracy, linearity, quantitation limit, range, precision, specificity or selectivity and robustness. The advancements in technology has increased the usage of mass spectroscopy and chromatography for testing the strength, quality, identity, potency and purity of a drug product. FDA needs such data for approving drugs. GMP and chromatography regulations are the primary standards considered while submitting the drug products to the FDA. Companies manufacturing chromatography instruments emphasize on product launches that satisfy the technological as well as regulatory requirements. Such factors are responsible for the augmentation of the market.
However, the chromatography instruments are integrated with novel functionalities and features, thereby making them expensive. A new instrument cost depends on the type of application. An HPLC system can cost from USD 11,000 to USD 45,000. Such high costs of these instruments might negatively affect the growth of the market.
FutureWise Market Research has instantiated a report that provides an intricate analysis of Chromatography Instruments Market trends that shall affect the overall market growth. Furthermore, it includes detailed information on the graph of profitability, SWOT analysis, market share and regional proliferation of this business. Moreover, the report offers insights on the current stature of prominent market players in the competitive landscape analysis of this market.
According to the research study conducted by FutureWise research analysts, the Chromatography Instruments Market is anticipated to attain substantial growth by the end of the forecast period. The report explains that this business is predicted to register a noteworthy growth rate over the forecast period. This report provides crucial information pertaining to the total valuation that is presently held by this industry and it also lists the segmentation of the market along with the growth opportunities present across this business vertical.