Number of pages: 100 | Report Format: PDF | Published date: July 15, 2022
Historical Years – 2020 | Base Year – 2021 | Forecasted Years – 2022-2030
According to the deep-dive market assessment study by Growth Plus Reports, the global liquid chromatography market was valued at US$ 9.7 billion in 2021 and is expected to register a revenue CAGR of 5.4% to reach US$ 15.93 billion by 2030.
Liquid Chromatography Market Fundamentals
Liquid chromatography is an analytical tool that is majorly used for the separation and identification of compounds such as proteins, nucleic acid, and smaller molecules from an organic sample. The interaction of the sample with the mobile and stationary phases forms the basis for the separation. Depending on the sample's affinity with the liquid phase, the composition of the mobile phase entirely changes. Liquid chromatography is used for analytical and preparative purposes, such as in food supplements, pharmaceuticals, and biotherapeutics.
Liquid chromatography has gained impetus as the most practical method for identifying polar pesticides in food and environmental samples. The most important factors driving the popularity of liquid chromatography include high speed, selective analysis, and sample preparation.
Liquid Chromatography Market Dynamics
The increasing usage of liquid chromatography equipment in the agriculture, biochemistry, pharmacy, and forensic industries is expected to drive the revenue growth of the liquid chromatography market. Furthermore, increase in R&D activities and rise in investments by government agencies in these researches are expected to offer significant revenue growth opportunities in the next few years.
However, the high cost of LC devices can have a negative impact on the market revenue growth. Furthermore, availability of alternative technologies, such as protein crystallization, membrane chromatography, crystallization, high-resolution extra filtration, three-phase partition monolith, capillary electrophoresis, precipitation, and high-pressure folding are expected to restrain the market revenue growth to some extent.
Liquid Chromatography Market Ecosystem
The global liquid chromatography market is analyzed based on four parameters: type, technique end user, and region.
Liquid Chromatography Market by Type
In terms of type, the global liquid chromatography market is segmented into instruments, consumables, and software & accessories.
The instrument segment dominates the liquid chromatography market in terms of revenue share. This is attributed to rising adoption of LC techniques by key players and detectors in research labs. The versatility of systems across different columns plays a key role in the adoption of the systems.
The consumables segment is expected to register the highest revenue growth during the forecast period. This is due to advancements in technology, rapid growth of biopharmaceutical companies, increased food analysis by the agriculture industry, and growing need for the development of novel therapeutics to cater to the perpetually increasing prevalence of chronic diseases.
Liquid Chromatography Market by Technique
Based on technique, the global liquid chromatography market is segmented into high-performance liquid chromatography (HPLC), normal phase liquid chromatography (NPLC), Ion exchange liquid chromatography (IELC), size-exclusion liquid chromatography (SELC), fast protein liquid chromatography (FPLC), and reversed-phase liquid chromatography (RPLC).
High-performance liquid chromatography (HPLC) is one of the more sophisticated techniques of liquid chromatography, allowing ultra-trace separations with high sensitivity and precision. HPLC is the primary analysis method of forensic toxicology, toxicology, and environmental labs. The technique is in high demand owing to its ability to help in the isolation of pure substances for clinical, toxicology studies, inorganic studies, and trace analysis. HPLC supports analysts in developing various biologics, assertive food safety, and water quality testing for environmental protection.
The Ion exchange liquid chromatography (IELC) segment is also expected to register high revenue growth during the forecast period, due to increasing usage of the technology in the food industry.
Liquid Chromatography Market by End User
Based on the end user, the global liquid chromatography market is segmented into pharmaceuticals & biotechnology industries, food and beverage industries, forensics, and diagnostic laboratories.
Currently, the pharmaceuticals and biotechnology industry segment dominates the liquid chromatography market in terms of revenue share. This large revenue share of the segment is attributed to the rapid growth of the industry and novel biological products manufactured by these industries.
The food and beverage industry segment is also expected to register high revenue growth during the forecast period, due to stringent regulations associated with food quality and safety.
Liquid Chromatography Market by Region
Based on the region, the global liquid chromatography market is segmented into North America, Europe, Asia Pacific, and the Rest of the World (RoW).
Asia Pacific dominates the liquid chromatography devices market in terms of revenue share, due to the increasing investments in biomedical industries, advancing healthcare infrastructure, improving disposable incomes, and well-established domestic companies within the region.
North America is expected to register significant revenue growth during the forecast period, due to increasing investments by key players in the pharmaceutical and biotechnology industries and the development of advanced drugs to offer innovative treatment options.
Liquid Chromatography Market Competitive Landscape
The prominent players operating in the liquid chromatography market are:
Liquid Chromatography Market Strategic Developments
The global liquid chromatography market was valued at US$ 9.7 billion in 2021.
The global liquid chromatography market is expected to reach US$ 15.93 billion by 2030.
Increasing usage of liquid chromatography equipment in agriculture, biochemistry, pharmacy, and forensic industries is fueling revenue growth in the global market.
Waters Corporation, Tosoh Bioscience LLC, Hitachi Ltd., PerkinElmer, Inc., and Thermo Fisher Scientific are the prominent players operating in the global liquid chromatography market.
The global liquid chromatography market is expected to register a revenue CAGR of 5.4% during the forecast period from 2022 to 2030.
North America accounts for the largest revenue share of the global liquid chromatography market.
*Insights on financial permanence is subject to availability of information in public domain