ALBANY, New York, June 28, 2018 /PRNewswire/ --
Transparency Market Research (TMR) has published a new report titled, "HPLC Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2018 - 2026". According to the report, the global HPLC market was valued at US$ 3,763.9 Mn in 2017. It is projected to expand at a CAGR of 5.2% from 2018 to 2026. HPLC systems are witnessing increased usage in environmental analysis in order to control pollution, provide safe packaged and processed food for the food & beverage industry, and also in the development of new drugs for preventing and treating new as well as exiting diseases.
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Increase in Application in Food & Beverage Industry to Propel Market
Modern processed and packed food involves usage of chemicals such as artificial sweeteners and flavors to improve the taste of food; preservatives, and antioxidants, which extend the shelf life of the product; carbohydrates that act as binders, and colorants that improve acceptability and appeal of food. Along with the benefits of these chemicals, if they are consumed in high quantities, they are likely to be harmful for the human body. HPLC is widely utilized in the food industry to separate and detect additives and contaminants. HPLC breaks down complex mixtures into individual compounds and hence, it is easy to identify and quantify by suitable detectors. HPLC technique detects and separates the components at ambient temperatures and hence, the U.S. FDA adopts HPLC technique for analysis of thermally liable, nonvolatile, and highly polar compounds.
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Rising Usage of LC-MS technique
Liquid chromatography - mass spectrometry is widely employed in the analysis of solubilized compounds. In the mobile phase, compounds are allowed to pass through a column, while it is packed with compounds in the stationary phase. This allows separation of compounds based on the weight and affinity of the mobile and stationary phase in the column. LC-MS offers broad sample coverage because different column chemistries, such as reversed phase liquid chromatography also can be used
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High Cost of HPLC Systems to Restrain Global HPLC Market
The high cost of HPLC system is a major factor that restrains the global HPLC market. The HPLC system cost ranges between US$ 39,000 to US$ 89,000. The cost of the system varies according to its age and also according to the use of advanced technologies. Several small institutes cannot afford to buy the system owing to its high cost and hence, the work can be outsourced. Moreover, skilled professionals are required to operate the system. These factors, cumulatively, are likely to hamper the global HPLC market.
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Market in Asia Pacific to Witness Significant Expansion
In terms of revenue, the HPLC market in Asia Pacific is expected to expand at a CAGR of 6.2% during the forecast period. Rising government intervention for new healthcare facilities and academic institutions along with increasing clinical trials by key players offer significant potential for the HPLC market in Asia Pacific. Countries such as India, China, and Japan are major contributors to the expansion of the HPLC market in Asia Pacific. Emerging markets such as Latin America and Middle East & Africa are also likely to witness considerable expansion due to the emergence of key players in these regions and increasing incidence of diseases, which indirectly makes these regions challenging places to conduct clinical trials.
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Water Corporation, Agilent Technologies, PerkinElmer, Inc., and Shimadzu Corporation to Lead the Market
The report also provides profiles of leading players operating in the global HPLC market such as Water Corporation, Agilent Technologies, IDEX Health & Science, ESA Biosciences, Inc., Gilson, Inc., JASCO Corporation, PerkinElmer, Inc., GE Healthcare, Thermo Fischer Scientific Inc. and Shimadzu Corporation. These players adopt organic and in-organic growth strategies to expand product offerings, strengthen geographical reach, increase customer base, and capture market share.
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