Albany, NY, July 7, 2015 (GLOBE NEWSWIRE) -- According to a new market report published by Transparency Market Research "Chromatography Accessories and Consumables Market: [(Product Type: Chromatography Media/Resins; Columns and Column Accessories; Chromatography Detectors and Accessories; Chromatography Filters; Solvents, Buffers and Adsorbents; and Others); (End Users: Academics and Research; Hospitals and Diagnostic Laboratories; Pharmaceuticals; Food and Agriculture; and Others)] Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2015 - 2023" the global chromatography accessories and consumables market was valued at USD 7.8 billion in 2014 and is expected to grow at a CAGR of 7.5% from 2015 to 2023, to reach an estimated value of USD 15.0 billion in 2023.
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The report provides a detailed analysis of the current as well as emerging technologies in chromatography accessories and consumables, bifurcating them based on their type and end-user application. By products the market has been analyzed for media/resins, columns and column accessories, chromatography detectors and accessories, chromatography filters, solvents, buffers and adsorbents, other accessories and consumables. Among these, solvents, buffers and adsorbents is the largest segment of the global chromatography accessories and consumables market. Following this, columns and column accessories is the other segment which is projected to expand at the second-highest CAGR during the forecast period. Increased applicability and affordability of chromatography accessories and consumables would accelerate their usage pattern during drug discovery processes, diagnosis and investigation.
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Many key industries are now targeting customized product range of consumables and accessories that would suit their tailor made needs. The need of the hour is to have innovative chromatography consumables along with a wide pool of options in chromatography accessories. The report offers a detailed description behind this high growth and also outlines a possible growth trajectory for other segments. The report is thus, compiled with the prime intent of updating the stakeholders with the incumbent market dynamics which are graphically illustrated in the report.
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Based on the end users, chromatography accessories and consumables market is segmented into academics and research, hospitals and diagnostic laboratories, pharmaceuticals, food and agriculture and, others. In 2014, Pharmaceutical industry comprises the largest segment (34.4% global market share) among the end users in terms of revenue and is likely to continue to dominate the market during the forecast period. Higher investment in research and increasing number of industrial applications of several chromatography products are expected to drive the growth of the segment in the near future. The academic and research segment accounted for the second largest share of the global market among other major end-user segments. Due to the heightened consciousness and corresponding demand for purity in agricultural products against pesticides, there is a huge demand for certifications and approvals in food and agriculture products market. Thus, these industries are now thriving to cater this demand through various channels and would rest upon customized chromatography procedures. The other major segments such as hospitals and diagnostic laboratories have been projected to register steep growth during the forecast period from 2015 to 2023.
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Geographically, the chromatography accessories and consumables market has been categorized into five regions: North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. In 2014, North America accounts for the largest market share (40.2%) primarily due to high inclination as well as financial capability to purchase huge volumes of chromatography consumables and accessories for chemical analysis and biochemical research. The North America market encompasses United States and Canada. The U.S will continue to dominate this market, with its elevated market share. In addition, the presence of leading manufacturers in the region significantly contributes in strengthening the market share of North America. The Europe market has been studied for Germany, France, U.K. and Rest of Europe. Germany is the largest market for chromatography accessories and consumables in Europe.
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In Asia Pacific, China is likely to grow rapidly due to augmented number of R&D activities, expansion by global market players, and product upgrades due to infrastructural developments and improved government support activities in China. An article published by the Diplomat (a leading international current-affairs magazine for Asia Pacific) stated that China would become the world's most aged society by 2030. Rapidly aging population is one of the factors driving the growth of the chromatography accessories and consumables market in China.
Major players operating in the global market include Thermo Fisher Scientific, Inc., EMD (Merck) Millipore, PerkinElmer, Inc., Agilent Technologies, Inc., Sigma-Aldrich Corporation, Bio-Rad Laboratories, Inc., Phenomenex, Pall Corporation, GE Healthcare, Shimadzu Corporation, Waters Corporation, W.R. Grace & Co. Most of these players incessantly innovate by developing new products and improvise existing ones to keep pace with technological advances in order to maintain their position in the global market.
The Chromatography Accessories and Consumables Market is segmented as follows:
Global Chromatography Accessories and Consumables Market, by Product Type
- Chromatography Media/Resins
- Columns and Column Accessories
- Chromatography Detectors and Accessories
- Chromatography Filters
- Solvents, Buffers and Adsorbents
- Other Accessories and Consumables
Global Chromatography Accessories and Consumables Market, by End Users
- Academics and Research
- Hospitals and Diagnostic Laboratories
- Food and Agriculture
Global Chromatography Accessories and Consumables Market, by Geography
- United Kingdom
- Rest of Europe
- Rest of Asia Pacific
Latin America (LATAM)
- Rest of LATAM
Middle East and Africa (MEA)
- South Africa
- Rest of MEA
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Transparency Market Research (TMR) is a U.S. based provider of syndicated research, customized research, and consulting services. TMR's global and regional market intelligence coverage includes industries such as pharmaceutical, chemicals and materials, technology and media, food and beverages, and consumer goods, among others. Each TMR research report provides clients with a 360-degree view of the market with statistical forecasts, competitive landscape, detailed segmentation, key trends, and strategic recommendations.
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Source:Transparency Market Research