Chromatography Reagents Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)

The global chromatography reagents market stood at around USD 8,500 million in 2020 and is expected to register a CAGR of over 6. 5% during the forecast period of 2021-2026. The market was not affected by the COVID-19 pandemic in 2020, as it includes end-use applications such as pharmaceuticals and food and beverage.

New York, Nov. 03, 2021 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Chromatography Reagents Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)" - https://www.reportlinker.com/p06179092/?utm_source=GNW
The demand for pharmaceuticals and food and beverage industry has increased during the COVID-19 pandemic, which has augmented the chromatography reagents market during 2020.

Key Highlights
- Over the short term, the major factors driving the growth of the market studied are the rising importance of chromatography across various industries and technological advancements in chromatography processes.
- On the flip side, the high cost of chromatography systems and lack of skilled professionals? serves as one of the major stumbling blocks in the growth of the studied market.
- By application, pharmaceutical segment is expected to dominate the market and is likely to grow at fastest rate during the forecast period.
- North America dominated the market across the world, where the growth is majorly driven by the growing adoption of chromatography technique in pharmaceutical, and food and beverage industries.

Key Market Trends

Pharmaceutical Segment to Dominate the Market Demand

- The pharmaceutical industry is one of the most regulated industries worldwide, since the drug products must be safe and effective. To ensure the least risk to patients, all pharmaceutical products must be of the highest quality. Various technological equipment and analytical procedures, including liquid chromatography, are used by researchers, manufacturers, and developers during the development process to ensure that the goods meet the requirements.
- Chromatography is used in the pharmaceutical industry for a variety of purposes, 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 present, 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. The first step in drug development is to find a therapeutic molecule, which can be done utilizing the fast or ultra-quick HPLC chromatography technique for separation and high-throughput screening. This chromatography technique is commonly utilized in pharmacokinetics, bioassays, and metabolic research, owing to its great sensitivity and selectivity.
- The basic principle and separation technique of GC are outlined in the GC section of the United States Pharmacopeia (USP) 27 Chapter. Residual solvent analysis, analysis of diverse functional groups, analysis of drugs of abuse, and determining the identity of natural products, including complicated mixtures of related compounds, are some of the applications of GC in pharmaceutical sectors.
- The pharmaceutical segment across the globe has grown rapidly in the past five years. Moreover, the COVID-19 pandemic, which hampered many industries, had the opposite effect on the pharmaceuticals segment. IQVIA, an American MNC serving the combined industries of health information technology and clinical research, stated that the revenue of the global pharmaceutical segment was USD 1265.2 million in 2020. Several countries, like India, the United States, Germany, and others, increased their expenditure on pharmaceuticals/medicines over the recent years. This is boosting the global chromatography reagents market.
- The use of pharmaceutical products remarkably increased over the years, for the treatment of multiple pathological conditions, such as genetic diseases and cancer. With the growing burden of diseases, the need for early diagnosis and treatments increases. The pharmaceutical and biotechnology companies increased their investment and research for such therapies, and as the chromatography reagents are highly required in such research process, the segment is expected to drive the growth of the market.
- Therefore, with the growth of the pharmaceutical industry, the demand for chromatography reagents is likely to rise during the coming years.

North American Region to Dominate the Market

- North American region dominated the global market share. The increased adoption of chromatography technique, majorly in food and beverage and pharmaceutical industries, drives the demand for chromatography reagents in the region.
- With the increase in the aging population in the region and the rising number of critical diseases, healthcare expenditure has increased significantly in the region. This has increased R&D investments into the pharmaceutical industry for drug discovery and production, which has further increased the demand for chromatography techniques and reagents in the region.
- The United States stood as the largest consumer of chromatography reagents. The pharmaceutical sector, being the largest in the world, has been one of the major industries in the United States, as well as one of the most R&D intensive industries in the country. According to the IFPMA, the share of the pharmaceutical industry in the United States is expected to increase from an estimated 40.3% in 2015 to 41% in 2020.
- The nominal spending on medicines in the country has been growing at a rapid rate since the past several years. In 2020, spending increased by 3.5% reaching a total of USD 539 billion.
- The revenue from the food and beverages industry in the United States is estimated to reach USD 21,320 million in 2021. The revenue is expected to show an annual growth rate of over 4.7%, resulting in a projected market volume of over USD 25,000 million by 2025. This is expected to increase the demand for products such as food processing additives, flavoring agents, etc., thereby boosting the market of study in the country over the forecast period.
- Moreover, the United States is one of the highest consumers of water in the world. Approximately 80% of the United States’ water and wastewater treatment industry is owned and managed publicly.
- However, the rural part of the country has significantly lower access to water treatment infrastructure and facilitates in comparison to the urban areas. Since 2003, the United States Department of Agriculture (USDA) has funded around USD 10 billion for the construction and maintenance of 7,500 rural water and wastewater systems. It is planning to further increase its investment in the coming years. This growing investment in water treatment is likely to boost the demand for reagents used in the sector.
- Hence, all such trends, along with discovery and production of drugs, and robust demand for food and beverages and pharmaceutical products in the region are expected to drive the demand for chromatography reagents, over the forecast period.

Competitive Landscape

The chromatography reagents is a fragmented market, where few players account for a significant share of the market demand. Some of the major players in the market include Merck, Thermo Fisher Scientific Inc., Avantor, Agilent Technologies Inc., and Shimadzu Corporation, amongst others.

Additional Benefits:

- The market estimate (ME) sheet in Excel format
- 3 months of analyst support
Read the full report: https://www.reportlinker.com/p06179092/?utm_source=GNW

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