High performance liquid chromatography sales are poised to expand at 5.5% y-o-y in 2021, after a modest year in 2020.
High performance liquid chromatography (HPLC) sales are poised to expand at 5.5% y-o-y in 2021, after a modest year in 2020. Adoption of HPLC will continue to grow, owing to their higher accuracy and sensitivity in contrast to conventional chromatographic techniques. Fact.MR, a global research and consulting firm, in the updated edition of the report, opines a stable growth rate during the period 2020-2030.
“The global HPLC market is slated to witness steady growth in the next decade. The varied range of applications of HPLC techniques has led market players to invest highly in fortifying their product portfolios to provide novel solutions. While the COVID-19 outbreak may restrict the testing volumes, the overall trend is slated to remain elevated”, says Fact.MR.
How Advancement in Technology Influences High Performance Liquid Chromatography (HPLC)
Technological progressions in HPLC techniques together with the competence of HPLC in the disease monitoring and drug identification continue to drive adoption. Moreover, HPLC is preferred over other chromatography methods such as gas chromatography owing to its accuracy and reliability. Key players are developing novel columns to resist the high pressure as well as technological progressions to enhance outcome.
Moreover, the growing number of pharmaceutical companies and contract research organizations across the world is projected to fuel market expansion, according to the Fact.MR study.
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Diagnostic Laboratories and Pharmaceutical & Biotechnology Industries will Remain Key End Users
Collectively, diagnostic laboratories and pharmaceutical & biotechnology remain key end-users of high performance liquid chromatography. Demand for HPLC from these two channels is likely to grow at over 6% through 2030.
“The foray of market players in high-growth markets is projected to impact the growth of pharmaceutical biotechnology industries. Growing prevalence of chronic ailments and the requirement for early intervention is projected to impel the diagnostic laboratories segment”, says Fact.MR.
US Continues to Remain Lucrative for HPLC
Key HPLC market players are increasing investments, in the biotechnology and pharmaceutical industry, in addition to government intervention in the area of food safety and environmental control is slated to leverage demand in US. As per Fact.MR’s analysis, the outlook on US high performance liquid chromatography market remains stable for the period 2020-2030.
In Europe, growing focus on precise diagnostics is likely to favor HPLC market players. UK high performance liquid chromatography market is set to witness a revival in sales, whereas France and Germany will also continue to be lucrative.
Growing focus on boosting medical tourism remains a key opportunity in Asia Pacific. In addition to India, many countries in South East Asia are promoting themselves as medical tourism hubs, with a special focus on quality healthcare. Further, market players in Japan and South Korea are also likely to invest in new healthcare technologies, owing to a gradual shift toward non-COVID care.
R&D Operations and Product Innovation Key Focus Areas: Fact.MR Survey
High performance liquid chromatography (HPLC) market remains moderately competitive and fragmented. Fact.MR’s survey with thought leaders discovered that new product launches, product innovations, R&D operations and regional expansions to boost their market share will remain a key strategy for market players in 2021 & beyond. The updated edition of the report provides a comprehensive coverage of the projected to remain the key strategies of market players. A few of the players profiled in the report are Thermo Fisher Scientific, Inc., Bio-Rad Laboratories, Inc., Agilent Technologies, Inc., GE Healthcare, Waters Corporation, Shimadzu Corporation, PerkinElmer Inc., Phenomax, Inc., and Gilson, Inc. The updated edition also offers a detailed analysis on the COVID-19 impact on this market.
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