report “Chromatography Instruments Market by Type (Systems, Detectors), Consumables (Columns) and Accessories (Auto-sampler Accessories), Applications (Life science Research, Environmental Testing, Food & Beverage Testing), and Region – Global Forecast to 2022″, The chromatography instruments market is expected to reach USD 10.99 Billion by 2022 from an estimated USD 7.86 Billion in 2017, at a CAGR of 6.9%. The key factors driving the growth of this market include the rising food safety concerns, increasing use of chromatography tests in the drug approval process, and growing popularity of hyphenated chromatography techniques. However, the high cost of equipment is likely to restrain the growth of the market during the forecast period.
By type, the systems segment accounted for the largest share of the market in 2017
On the basis of type, the chromatography instruments market is broadly segmented into systems, detectors, auto-samplers, and fraction collectors. In 2017, the systems segment is expected to account for the largest share of this market and is expected to grow at the highest CAGR during the forecast period. This is primarily attributed to the growing importance of chromatography tests in drug approvals.
By consumables and accessories, the consumables segment held the largest market share in 2017
The chromatography instruments market is further classified into consumables and accessories. In 2017, the consumables segment is expected to account for the largest share of the chromatography instruments market and is expected to grow at the highest CAGR during the forecast period. The high growth of this segment is mainly attributed to the rise in the food safety concerns.
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By application, the life science industry held the largest market share in 2017
Based on application, the chromatography instruments market is further segmented into life science, environmental testing, food and beverage testing, and other applications. In 2017, the life science industry segment is expected to account for the largest share and is expected to grow at the highest CAGR during the forecast period. Chromatography tests in drug approvals and increasing popularity of hyphenated techniques are the major factors driving the growth of this segment.
North America dominated the market in 2017
North America accounted for the largest share of the chromatography instruments market in 2016, followed by Europe. The increase in funding for R&D activities in the healthcare industry and increasing number of conferences in the U.S. are some of the major factors driving the growth of the market in the U.S. The growth of the Canadian food testing industry will also drive market growth during the forecast period.
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Factors such as rising importance of food safety in the U.K., growth of the cosmetics industry in France, and the increase in R&D expenditure in the pharmaceutical industry in the RoE are expected to boost the adoption of chromatography instruments in European countries; generating a significant growth opportunity for the players competing in the global chromatography instruments market during the forecast period.
The key players in the market include Agilent Technologies, Inc. (U.S.), Waters Corporation (U.S.), Shimadzu Corporation (Japan), Thermo Fisher Scientific Inc. (U.S.), and PerkinElmer Inc. (U.S.)