The global gas chromatography market was valued at $3.0 billion in 2016 and is forecast to grow at a moderate CAGR of 7.3% between 2017 and 2024, culminating to global revenue of $5.2 billion by 2024.
Industry at a Glance
The ever-increasing importance of chromatography tests in drug approvals paired with rising government investments, grants and funds towards the usage of advanced chromatographic techniques are among the major factors driving the global gas chromatography market significantly over the next few years.
Biotechnology and pharmaceutical sectors are among the prime users of chromatography technique. Additionally, academic institutes, universities and agriculture industry are also currently seen making extensive use of chromatographic techniques. The industry is also witnessing an increasing number of collaborations among research laboratories and academic institutes that are resulting in enhanced support for research activities in the gas chromatography field.
Escalating number of conferences pertaining to chromatography technologies is an emerging trend witnessed in the industry. This has significantly resulted in increased awareness among consumers leading to the substantial adoption of gas chromatography worldwide. In addition, testing the quality of chemical products and measurement of toxic substances effectively is another factor driving market growth.
“Optimal Price Point (OPP) for Gas Chromatography”
Estimated average gas chromatography cost – $ xx globally. However, with improving access and availability of options, OPP and range of acceptable Prices (RAP) are going to change. We at Ameri Research continuously track these prices with our proprietary pricing model.
The industry is witnessing systematic errors in gas chromatography due to column temperature gradients and periodic variations. In order to overcome this, leading industry participants invest heavily in R&D to develop technically advanced products with improved precision. With reference to this, there is no major price variation noticed in the industry. Consumers prefer advanced products over low-cost ones in order to ensure accurate measurement and testing of toxic substances.
By product, the market has been segmented into accessories & consumables, instrumentation and reagents. Accessories & Consumables are further categorized into column accessories, fittings & tubing, columns, mobile phase accessories, and autosampler accessories. The reagents segment has also been segmented into analytical and preparative reagents. The instrumentation product segment is further classified into systems, autosamplers, detectors, and fraction collector.
Reagents product segment held the majority market share in 2016 accounting for more than 40% of the overall revenue share in the same year. The segment is also anticipated to witness substantial growth over the forecast period mainly on account of mounting demand for high-performance fine and specialty chemicals, petrochemicals, natural gas, and industrial gas.
Based on end-use, the market is categorized into biotechnology, pharmaceuticals, and academics. The pharmaceutical end-use segment accounted for the majority market share in 206 and is expected to witness robust growth over the forecast period. This is ascribed to the rising need for pharmaceutical companies to deal with stringent government regulations pertaining to product safety and are, therefore, looking for ways to enhance revenues.
Based on region, the market is classified into North America, Europe, Asia Pacific, Latin America and Middle East & Africa. North America accounted for the majority market share in 2016 accounting for more than 35% of the overall revenue in the same year. The region is anticipated to witness significant growth over the forecast period which is accredited to the elevating number of symposiums and conferences held on chromatography technologies, aided by the increase in venture capital funding particularly in the U.S.
Europe also accounted for a significant portion of the market in 2016 and is expected to witness robust growth over the forecast period which is primarily attributed to the stringent government regulations pertaining to the drug & food safety and quality coupled with rising collaborations amongst organizations engaged in producing gas chromatography equipment in the region.
Moreover, the study indicates that the potential for the gas chromatography market lies in the developing countries of Asia Pacific such as India, Vietnam, Singapore and Malaysia. Asia Pacific is expected to emerge as the fastest growing regional market primarily owing to increasing number of companies emphasizing on expanding into the Asian market.
Growth Drivers & Restraints
Prominent growth drivers residing in the global gas chromatography market include a rise in government investments and increasing collaborations among academic institutes and research laboratories. Further, increased importance of chromatography tests in drug approvals supplements is another factor driving market growth.
Lack of skilled professionals paired with high cost associated with the purchase and installation of chromatography instruments are among the key factors hindering market growth significantly over the next few years. However, technological advancements and the growing proteomics market is anticipated to offer new avenues for market growth.
Merger & Acquisition Outlook
The industry is very consolidated in nature and is characterized by intense competition with leading industry participants adopting mergers and acquisitions, collaborations, new product launches and partnerships as key growth strategies. The major industry participants focus on acquiring competent companies in an attempt to cut down competition and prevail in this highly competitive environment.
Top Players & Company Share
Leading industry participants include Agilent Technologies, EMD Millipore, Metrohm AG, Novasep, PerkinElmer Inc., Phenomenex, Restek Corporation, Sartorius AG, Shimadzu Corporation, Sigma-Aldrich Corporation, Thermo Fisher Scientific Inc., Tosoh Corporation, and W.R. Grace & Co. Companies focus on entering into untapped high potential markets such as the developing countries of Asia Pacific, Latin America and the Middle East in order to increase their global footprint as well as sales.
Gas Chromatography Market, by Product (Revenue, USD Billion)
- Accessories & Consumables
- Column Accessories
- Fittings & Tubing
- Mobile Phase Accessories
- Autosampler Accessories
- Auto Samplers
- Fraction Collector
Gas Chromatography Market, by End-Use (Revenue, USD Billion)
Gas Chromatography Market, by Region (Revenue, USD Billion)
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
- Saudi Arabia