According to the research report published by Fact.MR accessories & consumables, and auto-samplers are expected to emerge as the fastest-selling products in the global gas chromatography market.
According to the research report published by Fact.MR accessories & consumables, and auto-samplers are expected to emerge as the fastest-selling products in the global gas chromatography market. The global gas chromatography market will register an above-average growth during the forecast period (2017-2022). Revenues from the global gas chromatography market are anticipated to surpass US$ 3,500 Million by 2022-end. “Auto-samplers will remain more lucrative than accessories & consumables of gas chromatography, in terms of revenues. Gas chromatography instruments will continue to be the top-selling product, with sales poised to exceed US$ 1,600 Million by 2022-end”, states Fact.MR In addition, sales of instruments, and detectors will register a parallel expansion at 5.5% CAGR through 2022.
Oil & gas industries are projected to remain the largest end-users of gas chromatography, in terms of revenues. In addition, revenues from gas chromatography in oil & gas industries, and pharmaceutical & biotechnology industries are estimated to account for nearly two-third share of the market during 2017 to 2022. Pharmaceutical & biotechnology industries will exhibit the fastest expansion as compared to all the other end-users in the market through 2022.
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North America to Continue Dominating Global Market
There are five key regions of the global gas chromatography market. These regions are North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa. Of these, presently, the global gas chromatography market is being dominated by the regional segment of North America. The region is expected to remain the most dominant one in the coming years of the forecast period ranging from 2017 to 2022. The growth of the region is primarily attributed to the demand from the US which is home to some of the world’s best known pharmaceutical companies and manufacturers. In addition to this growing geriatric population in the North America region and consequently rising demand for different medications for treatment of chronic diseases are some of the other key factors that are projected to drive the overall development of the North America gas chromatography market.
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Increasing Demand from End-Use Sectors to Drive Market Development
Gas chromatography has been witnessing a rise in adoption among various industrial sectors such as food & beverage, agriculture, oil & gas, and healthcare. GC is also being used in environmental agencies, research organizations, clinical toxicology, and academic institutes. Gas chromatography has been combined with mass spectrometry, denoted as GC-MS, for applications in detection of drugs, explosives investigation, environmental analysis, identifying unknown samples, and fire investigation. Owing to its variety of application, demand for gas chromatography will increase significantly in the foreseeable future. “Governments across the globe are making investments in developing advanced chromatography technologies. Over the past few years, a number of collaborations between academic institutes and research laboratories have been witnessed across the globe,” finds Fact.MR. Moreover, gas chromatography tests have become imperative for approval of drugs.
However, there are some factors that might impede the growth of the global gas chromatography market in the coming years of the forecast period. Gas chromatography instruments are subject to high initial prices. There has been a shortage of skilled professionals for operation of gas chromatography procedures. These factors might act as restraining factors for growth of the market in the near future.
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