Global Chromatography Accessories and Consumables Market to Reach $12.9 Billion by 2024

Chromatography is a commonly performed laboratory technique for separation of complex mixtures based on chemical characteristics. Over the years, the use of chromatography has transcended from basic laboratory research to commercial applications, such as in drug manufacturing and quality control applications in pharmaceutical and biotechnology industries. This is mainly attributable to the technology`s convenient and powerful separation and analysis capabilities and versatility feature. Amid the COVID-19 crisis, the global market for Chromatography Accessories and Consumables is projected to reach US$12.9 Billion by 2024, registering a compounded annual growth rate (CAGR) of 6.2% over the analysis period. United States represents the largest regional market for Chromatography Accessories and Consumables, accounting for an estimated 36.7% share of the global total. The market is projected to reach US$4.9 Billion by the close of the analysis period. China is expected to spearhead growth and emerge as the fastest growing regional market with a CAGR of 9.2% over the analysis period.

Growth in the global is being driven by rising adoption of the method in food safety, pharmaceutical dosage and forensic applications. The emergence of food safety as a global concern owing to various incidents of pesticide or herbicide traces in food products, and their negative health implications is likely to fuel the liquid chromatography market. In addition, chromatography is rapidly emerging as the primary analysis technique in environmental, forensics, and toxicology laboratories. The adoption of the technique is expected to be driven by the need for quantification of plant extracts and ensuring absolute purity of molecules in pharmaceutical dosage. Miniaturization is another trend in the market, with companies increasing focus on developing miniaturized systems that occupy less space and enable carrying the system to the area where sample is prepared. Growth in developed markets is largely supported by increased research activity in biologics and drug development and indirect and direct government investments. Growth in Asia-Pacific region is attributed to growing penetration of chromatography systems in clinical and research applications, and strategic moves of market participants to expand their presence in these regions. The regional markets also gains from increasing number of pharmaceutical manufacturers outsourcing drug development and discovery activity to the region.