Chromatography is a technique used to separate the components in a mixture through differences in their interactions with a stationary phase. Chromatography finds widespread adoption in quality control testing in the pharmaceutical industry. Rising generic drugs production and stringent regulations regarding drug safety have necessitated increased use of chromatography techniques in the pharmaceutical industry. The global chromatography market offers various instruments such as liquid chromatography, gas chromatography, ion chromatography and affinity chromatography that find extensive usage in drug discovery, drug quality control, and drug formulation. The market also provides consumables such as columns, solvents and reagents that help drive separation and purification processes. With increasing chronic disease prevalence worldwide, pharmaceutical R&D spending continues to grow, thereby augmenting demand for chromatography. The global Chromatography Market is estimated to be valued at US$ 11,702.77 million in 2023 and is expected to exhibit a CAGR of 6.5% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key Trends:
The growing demand for monoclonal antibody-based therapeutics acts as a key trend driving the chromatography market. Monoclonal antibodies are extensively used in treatment of cancer and autoimmune diseases due to high specificity and minimal side effects. However, monoclonal antibody production requires complex downstream purification processes that rely on chromatography separation and purification techniques such as affinity chromatography, ion-exchange chromatography, and size-exclusion chromatography. Expanding monoclonal antibody pipeline and approvals therefore augments demand for various chromatography instruments and resins required for their purification. Another major trend is the shift towards process analytical technology (PAT) and quality-by-design (QbD) principles in pharmaceutical manufacturing. Regulators have increased focus on implementing PAT and QbD to enhance drug quality and production efficiency. This has prompted pharmaceutical companies to incorporate more in-line chromatography-based techniques for real-time process monitoring and control.
Threat of new entrants: The threat of new entrants entering the chromatography market is moderate due to various capital requirement including infrastructure development and the existence of well-established players in the market.
Bargaining power of buyers: The bargaining power of buyers is high as the chromatography market offers a wide range of alternatives from various established brands. This forces suppliers to provide competitive offerings.
Bargaining power of suppliers: The bargaining power of suppliers is moderate as raw materials can be sourced from various suppliers globally, reducing dependency on a single or a few suppliers.
Threat of new substitutes: There is a low threat of new substitutes emerging for chromatography as it is an well-established technique widely used in various industries including biopharmaceuticals, food & beverages testing, and environmental testing.
Competitive rivalry: The competitive rivalry in the market is high attributed to presence of many regional and global players operating in the chromatography market.
The global Chromatography Market Growth is expected to witness high growth over the forecast period supported by rising demand from biopharmaceutical industry.
Regional analysis: North America dominates the global chromatography market attributed to presence of major players and increasing investments by government and private organizations in biopharmaceutical research. Asia Pacific is expected to be the fastest growing region in chromatography market supported by increasing development of generics and biosimilars market in countries like India and China.
Key players operating in the chromatography market are APS Materials Inc., Berkeley Advanced Biomaterials (GNI Group Ltd), Bio-Rad Laboratories Inc., CGbio, FLUIDINOVA, Granulab Sdn. Bhd. (KPower Berhad), HOYA Technosurgical Corporation (HOYA Corporation), SANGI CO. LTD, SigmaGraft Biomaterials, Taihei Chemical Industrial Co. Ltd, and Zimmer Biomet. Key players are focusing on new product launches, collaborations and geographic expansion to garner higher market share.
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it