Chromatography Reagents Market Worth $11.5 billion | MarketsandMarkets™

CHICAGO, Feb. 29, 2024 /PRNewswire/ -- Chromatography Reagents Market in terms of revenue was estimated to be worth $6.8 billion in 2024 and is poised to reach $11.5 billion by 2029, growing at a CAGR of 11.0% from 2024 to 2029 according to a new report by MarketsandMarkets™.

The chromatography reagents market is experiencing significant growth due to several key factors. Firstly, there is a notable increase in research and development activities within the pharmaceutical and biotechnology industries, driving the demand for advanced chromatography techniques to aid in drug development and ensure quality control. Additionally, chromatography tests are becoming increasingly important in the food and beverage sector to guarantee product safety and maintain high-quality standards, further contributing to market expansion. Moreover, the growing use of chromatography in clinical diagnostics, particularly for disease diagnosis and monitoring purposes, is fueling demand for chromatography reagents. These factors collectively underscore the rising significance of chromatography reagents across various industries, driving market growth.

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Chromatography Reagents Market Scope:

Solvent segment is expected to register the substantial share by reagent type of chromatography reagents market

The solvents segment is poised to assert its dominance in the chromatography reagents market, primarily owing to its indispensable role in facilitating sample movement within chromatographic processes. Solvents serve as pivotal agents in chromatography, enabling the seamless transfer of samples from one position to another without altering their chemical composition. Typically, solvents are adeptly blended with water or compatible solvents to optimize the reaction outcomes of the samples under analysis. This meticulous blending ensures that the samples interact synergistically with the chromatographic medium, thereby enabling accurate separation and precise analysis.

Furthermore, solvents are revered for their ease of handling, a characteristic that streamlines laboratory procedures and ensures the meticulousness of analytical outcomes. Their versatility across various chromatographic techniques renders them indispensable and widely applicable across diverse industries and research settings. For instance, in air quality testing, solvents play an instrumental role in elucidating the components present in the air by adeptly binding to specific compounds of interest. This inherent capability not only facilitates the identification of pollutants but also bolsters the overall accuracy and reliability of chromatographic analyses.

Pharmaceutical Companies segment holds the highest CAGR by end user in Chromatography Reagents market

In 2023, the pharmaceutical companies segment dominated the chromatography reagents, capturing a substantial share and heist CAGR of 13.1% . Pharmaceutical manufacturers and testing service providers extensively utilize chromatography reagents throughout various stages of drug development and analysis, including research, clinical trials, and manufacturing. Growth in this sector is propelled by intensified R&D efforts, particularly in critical therapeutic areas like cancer and infectious diseases. Additionally, expanding product pipelines, increasing clinical trials, and stringent regulatory standards further drive demand for chromatography reagents. Government and corporate funding initiatives aimed at fostering innovation also contribute significantly to market growth. Overall, chromatography reagents play a crucial role in ensuring the quality, safety, and efficacy of pharmaceutical products, driving sustained growth in this segment.

North America holds a substantial share of telehealth and telemedicine market during the forecast period.

Throughout the forecast period, North America is expected to maintain its position as the dominant market for chromatography reagents. The primary focus of this market study encompasses the United States and Canada. North America benefits from a robust and diverse R&D infrastructure, facilitating the widespread adoption of chromatography techniques across multiple industries. In 2023, North America held a commanding global market share of 37.0%. This growth is fueled by factors including escalating drug development endeavors, governmental support for life science R&D, the widespread adoption of cutting-edge solutions, and the presence of numerous ongoing clinical research initiatives within the region.

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Chromatography Reagents Market Dynamics:

Drivers:

1. Growing pharmaceutical and biopharmaceutical R & D activities
2. Rising Concerns for Food safety

Restraints:

1. Lack of skilled professionals

Opportunities:

1. Increasing use of chromatography in proteomics and the purification of monoclonal antibodies

Challenge:

1. Premium prices of organic solvents

Key Market Players of Chromatography Reagents Industry:

Prominent players in the Chromatography Reagents market include Thermo Fisher Scientific, Inc. (US), Merck KGaA (Germany), Avantor, Inc. (US), Waters Corporation (US), Agilent Technologies, Inc.(US), Bio-Rad Laboratories, Inc. (US), Danaher Corporation (US), Chiron AS (Norway), Loba Chemie (India), GFS Chemicals, Inc. (US), Regis Technologies, Inc. (US), Tokyo Chemical Industry Co., Ltd (TCI) (Japan), Honeywell International Inc. (US), Shimadzu Corporation(Japan), Santa Cruz Biotechnology, Inc. (US), Restek Corporation (US), Spectrum Chemical Mfg. Corp. (US), Kanto Kagaku (Japan), Tedia Company, Inc. (US), ITW Reagents Division (Spain),Tosoh Corporation (Japan), Concord Technology Co., Ltd. (Tianjin), Thomas Baker (Chemicals) Pvt. Ltd.(India), Alpha Laboratories Ltd. (Hampshire), Spectrochem (India), Columbus Chemical Industry (WI).

The break-down of primary participants is as mentioned below:

• By Company Type - Tier 1: 45%, Tier 2: 30%, and Tier 3: 25%
• By Designation - C-level: 42%, Director-level: 31%, and Others: 27%
• By Region - North America: 32%, Europe: 32%, Asia Pacific: 26%, ROW-10%

Recent Developments of Chromatography Reagents Industry:

• In September 2023, Restek Corporation (US) entered into a partnership with Mastek Limites (US), The partnership allowed Restek to enhance chromatography online solutions by leveraging Oracle expertise from Mastek.
• In june 2023, Merck KGaA (Germany) formed a partenership with Nantong Economic and Technological Development Area (NETDA)(China) aiming to increase the production capacity of highly purified reagents for biopharma quality control, resulting in a significant boost to annual output by several thousand tons...
• In April 2023, Agilent Technologies, Inc. (US) partnered with PathAI (US), The partnership combined Agilent's assay expertise with PathAI's algorithms, focusing on integrated solutions and companion diagnostics in digital pathology...
• In June 2022, Waters Corporation (US) collaborated with BioInfra, Inc. (Korea), aiming to enhance regional scientific competitiveness and the quality of pharmaceutical research and testing. The academy will provide hands-on training for scientists in bioanalytical methods crucial for drug discovery and development. With a focus on bioequivalence trials, the training will support the growing demand for lower-cost generic drugs in Southeast Asia.

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Chromatography Reagents Market - Key Benefits of Buying the Report:

This report will enrich established firms as well as new entrants/smaller firms to gauge the pulse of the market, which, in turn, would help them garner a greater share of the market. Firms purchasing the report could use one or a combination of the below-mentioned strategies to strengthen their positions in the market.

This report provides insights on:

• Analysis of key drivers (Growing pharmaceutical and biopharmaceutical R & D activities, Rising concerns for food safety, Growing utilization of chromatography in drug development and omics research, Increasing demand for therapeutic antibodies), restraints (Lack of skilled professionals), opportunities (Increasing use of chromatography in the purification of monoclonal antibodies, Growing use of chromatography in proteomics), and challenges (Premium cost of organic solvents)
• Product Development/Innovation: Detailed insights on upcoming technologies, research & development activities, and new product launches in the Chromatography reagents market.
• Market Development: Comprehensive information on the lucrative emerging markets, component, demographics, end-user, and region.
• Market Diversification: Exhaustive information about the product portfolios, growing geographies, recent developments, and investments in the Chromatography reagents market
• Competitive Assessment: In-depth assessment of market shares, growth strategies, product offerings, and capabilities of the leading players in the Chromatography reagents market like Thermo Fisher Scientific, Inc. (US), Merck KGaA (Germany), Avantor, Inc. (US), Waters Corporation (US), Agilent Technologies, Inc.(US), Bio-Rad Laboratories, Inc. (US).

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Chromatography Accessories & Consumables Market - Global Forecasts to 2027

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