The global chromatography systems market is expected to grow at a CAGR of 5.5 percent during 2016 to 2022 to reach USD 11.5 billion by the end of 2022, states Markets Research Future. Increased use of chromatographic techniques in the pharmaceutical and biotechnology industry, development of new biologic drugs and formulations, increasing government funding, and support for R&D are responsible for the growth of the market.
Continuous development of novel techniques in chromatography by the existing market players, increasing research and healthcare expenditure in the developing countries, and rising adoption of chromatographic techniques in the low-economy countries have impacted positively on the growth of the chromatography system market.
Based on the type of technique, liquid chromatography is the most used type and the largest segment of the market, and is expected to grow past USD 6 billion by the end of 2022. Rapid growth in the pharmaceutical industry and the demand for new drugs, and increasing use in cosmetic industry, environment protection organizations, and food industry has boosted the demand for the separation techniques.
Based on geography, North America holds the largest share of more than 35 percent of the market and is projected to mint more than USD 4.5 billion by the end of 2022. European market is also expected to exhibit strong growth due to the presence of existing established players, who are aiming to introduce innovative new technologies in order to expand business. Asia-Pacific region is expected to witness the fastest growth in the near future. Growing healthcare and life-sciences industry, increased adoption of chromatographic techniques in developing countries, and growing healthcare infrastructure in low-income economies are the key drivers creating rewarding growth opportunities in this region.