CHROMATOGRAPHY MARKET ANALYSIS

Chromatography Market Size and Trends

Global chromatography market is estimated to be valued at USD 9.5 Bn in 2024 and is expected to reach USD 13.5 Bn by 2031, exhibiting a compound annual growth rate (CAGR) of 5.1% from 2024 to 2031.

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Chromatography is used in various industries such as pharmaceuticals, food and beverage testing, academics institutes, and others. The market growth can be driven by increasing R&D investment in drug discovery by pharmaceutical companies. Growing concerns about food safety and increasing adoption of chromatography technique in proteomics and genomics research boosts demand for chromatography systems. Furthermore, technological advancements leading to miniaturization and automation of chromatography systems along with growing emphasis on analytical testing in industries like pharmaceuticals, biotechnology, and food and beverage can offer opportunities for the market players.

Increasing R&D investments in pharmaceutical and biotechnology industries

The pharmaceutical and biotechnology industries  have increased their research and development investments in recent years, and this drives the global chromatography market growth. These industries heavily rely on chromatography techniques for drug discovery, development and purification processes. Chromatography allows them to efficiently separate, identify and purify biomolecules and chemicals, which is crucial for bringing new drugs to the market. According to the report published by OECD, the top 10 pharmaceutical companies spent over US$ 200 billion combined on R&D activities in 2021, indicating an increase of 15% as compared to 2020. These companies are aggressively working on developing advanced therapies like gene therapies, monoclonal antibodies and other targeted therapies to treat chronic and complex diseases. Chromatography plays a vital role right from the initial research and clinical trial stages to the final commercial manufacturing of such complex biologic’s drugs. There has been also huge demand for powerful analytical tools like liquid chromatography-mass spectrometry to support quality control testing requirements. For instance, in January 2024, ICON plc, a healthcare intelligence and clinical research organization, launched a whitepaper on optimizing biotech funding, highlighting trends in R&D strategies among biotech firms. A survey showed 60% plan to increase R&D spending, with clinical trials cited as a major challenge.

Developing healthcare sector

Advancements in medical research and technologies have enabled doctors and scientists to develop innovative diagnostic and therapeutic solutions for various diseases. Chromatography techniques plays a crucial role in numerous areas of healthcare such as drug discovery and development, disease diagnosis, blood analysis, and clinical trials. Chromatography enables the separation, identification and quantification of complex biological molecules and chemical compounds. This allows for a more thorough understanding of biological processes and pathological conditions at the molecular level. Rising healthcare expenditure and increasing governments’ investments in public health initiatives can boost demand for sophisticated medical testing and analysis. Healthcare facilities are expanding their in-house diagnostic capabilities through addition of new analytical instruments. Pharmaceutical companies rely heavily on chromatography at various stages of the drug development pipeline from target identification and validation to purity analysis of active pharmaceutical ingredients and impurities. With an aging population and rising burden of chronic diseases, the requirements from medical and pharmaceutical research are diversifying. This expanding role of chromatography across the healthcare industry boosts demand for newer and improved chromatography platforms. Various types of chromatography techniques such as Ion-exchange chromatography, Size-exclusion chromatography and Gas chromatography are used in the healthcare sector, and this offers lucrative opportunities for chromatography instrument providers.