March 30, 2022 05:37 ET | Source: Vantage Market Research Vantage Market Research
WASHINGTON, March 30, 2022 (GLOBE NEWSWIRE) -- Vantage Market Research published a report, titled, "Chromatography Reagents Market Size, Share & Trends Analysis Report by Type (Solvents, Buffers, Derivatization Reagents, Ion-Pair Reagents), by Separation Mechanism (Adsorption, Partition, Ion Exchange, Size Exclusion), by Application (Pharmaceutical testing, Biopharma-Biotech Applications, Cosmeceutical Applications, Environmental Testing), by End-User (GC Reagents, LC Reagents, Super Critical Fluid Chromatography (SFC) Reagents, TLC), by Region (North America, Europe, Asia Pacific, Latin America and Middle East & Africa) - Global Industry Assessment (2016 - 2021) & Forecast (2022 - 2028)". According to the report, the global Chromatography Reagents industry generated $ 5,829.10 Million in 2021, and is anticipated to generate $ 8,650.20 Million by 2028, witnessing a CAGR of 6.80% from 2022 to 2028.
Chromatography is a method of separating mixtures by distributing their components between two phases. The stationary phase remains fixed while the mobile phase carries the components of the mixture through the medium used. Chromatography technique is used in the pharmaceutical industry for various purposes including identifying and analyzing samples for the presence of chemicals or trace elements, separating chiral compounds, detecting mixture purity and presence of unknown compounds, preparing large quantities of extremely pure materials, and drug development.
The use of medicinal products has increased significantly over the years to treat a variety of pathological conditions, such as genetic diseases and cancer. As the burden of disease increases, so does the need for early diagnosis and treatment. Increased investment and research into such therapeutics by pharmaceutical and biotechnology companies is expected to further augment the target market growth owing to the high demand for Chromatography Reagents Market during such research. Other factors are the increased use of the technology in proteomics, genomics, metabolomic medicine and innovation. Therefore, with the development of the pharmaceutical industry, the demand for Chromatography Reagents Market is likely to rise in the coming years.
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Chromatography techniques and their reagents are widely used in many industries, such as biopharmaceuticals and pharmaceuticals, food and beverages, petrochemicals, and agriculture. The pharmaceutical industry is one of the most regulated industries in the world, as medicines must be safe and effective. To ensure minimal risk to patients, all medicines must be of the highest quality. Pharmaceutical and biotech companies are investing heavily in research to develop breakthrough protein-related products to meet the growing needs of the healthcare industry. Researchers, manufacturers and developers use a variety of technical equipment and analytical procedures, including liquid chromatography, during the development process to ensure commercial compliance. Increasing public and private funds in pharmaceutical and life science research is driving the adoption and use of chromatography systems, which in turn increases the global demand and consumption of Chromatography Reagents Market.
In response to the COVID-19 crisis, the Chromatography Reagents Market has been observed to register significant growth due to recent advancements in the pharmaceutical and food & beverage industries. The increasing number of R&D activities for drug discovery and development in pharmaceutical and clinical laboratories adds positive advantages to the use of multiple reagents and technologies. The increasing adoption of reversed-phase liquid chromatography (RPLC) to accurately identify the SARS-CoV-2 spike protein is another prominent factor expected to have a positive outlook during the pandemic.
North America dominates the global market share. The increasing popularity of chromatography techniques, mainly in the food & beverage and pharmaceutical industries, is driving the demand for Chromatography Reagents Market in the region. Healthcare spending in the region has increased significantly, coupled with geriatric population and increasing number of chronic diseases. This has increased R&D investment for the drug discovery and production in pharmaceutical industries, which in turn increase demand for chromatography techniques and reagents in the region. The US is a largest consumer of Chromatography Reagents Market, as the pharmaceutical industry has always been one of the major industries in the US and the most R&D-intensive industries in the country. According to IFPMA, the US pharmaceutical industry’s share is expected to increase from 40.3% in 2015 to 41% in 2020.
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· In May 2020, Thermo Fisher Scientific announced that it is expanding its capabilities for viral vector development and manufacturing services by building a new commercial manufacturing site in Plainville.
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