High-Performance Liquid Chromatography Market Size was valued at USD 5.16 Bn in 2023 and is predicted to reach USD 7.30 Bn by 2031 at a 4.43% CAGR during the forecast period for 2024-2031.
High-performance liquid chromatography allows for the separation, identification, and quantification of all components in a combination. Worldwide, businesses are working to perfect and sell high-performance liquid chromatography and all the parts and pieces that accompany it. The market is growing due to developments in high-performance liquid chromatography technology, with many industry heavyweights focusing on creating and incorporating AI into high-performance liquid chromatography systems. Additionally, factors, including the rising prevalence of chronic and acute diseases and the need for additional research into preclinical and clinical settings to discover novel medications, are propelling the market's expansion. Furthermore, due to continued advancements and increased investment in research and development, high-performance liquid chromatography technology is a vital tool for businesses. It meets these industries' ever-changing demands and standards and is expected to boost market expansion in the coming years.
However, the high cost of high-performance liquid chromatography and the upfront and recurring expenditures for purchase and installation, including maintenance, speciality solvents, and columns, hindered the market's growth. Furthermore, increasing R&D activities and rising investments by prominent players are expected to create lucrative revenue growth opportunities for players operating in the global high-performance liquid chromatography market over the forecast period.
Competitive Landscape
Some of the Major Key Players in the High-Performance Liquid Chromatography Market are
- Agilent Technologies, Inc.
- Thermo Fisher Scientific Inc.
- Bio-Rad Laboratories, Inc.
- Shimadzu Corporation
- Waters Corporation
- PerkinElmer Inc.
- Merck KGaA
- Hitachi, Ltd.
- YMC CO., LTD.
- Restek Corporation
- Gilson, Inc.
- Phenomenex, Inc.
- JASCO
- Orochem Technologies Inc.
Market Segmentation:
The high-performance liquid chromatography market is segmented on the basis of product and application. Based on product, the market is segmented as instruments, consumables, and accessories. By application, the market is segmented into clinical research, diagnostics, forensics, and others.
Based on Product, The Instruments Segment is Accounted as a Major Contributor in the High-Performance Liquid Chromatography Market
The instruments category is expected to hold a major share in the global high-performance liquid chromatography market in 2023. This is attributed to instruments in the need for replacements from well-established laboratories that are upgrading to more modern and sophisticated high-performance liquid chromatography systems. In addition, high-performance liquid chromatography instruments are crucial in many different types of analytical applications in many different sectors. Consistent improvements in high-performance liquid chromatography technology have resulted in the creation of increasingly complex, dependable, and effective instruments, meeting the increasing need for rapid and accurate analytical methods in fields such as medicine, biology, epidemiology, and clinical trials.
Clinical Research Segment Witnessed Growth at a Rapid Rate
The clinical research segment is projected to grow rapidly in the global high-performance liquid chromatography market because of the growing focus on precision medicine and personalized healthcare. As a result, dependable high-performance liquid chromatography in clinical trials is becoming more important as pharmaceutical and biotech firms pour more money into drug development and discovery. Every step of the pharmaceutical process, from initial research and development to clinical research and regulatory approval, relies on high-performance liquid chromatography.
In the Region, The North American High-Performance Liquid Chromatography Market Holds Significant Revenue Share.
The North American high-performance liquid chromatography market is expected to register the highest market share in terms of revenue in the near future. This can be attributed to the demand for high-performance liquid chromatography for drug discovery, development, and quality control, which is being driven by the region’s thriving pharmaceutical and biotechnology industry, which places a significant emphasis on research and development. Furthermore, high-performance liquid chromatography is required by the strict regulatory climate in North America, especially in the beverage, pharmaceutical, and environmental industries in the region, which are factors proliferating the growth of the target market in the region. In addition, Asia Pacific is projected to grow at a rapid rate in the global high-performance liquid chromatography market due to the increased focus on the safety of food and the environment. Further, the region's strengthening economy and expanding middle class drive up healthcare spending, which in turn drives up demand for high-quality food and stricter environmental safety regulations, all of which contribute to the expansion of the high-performance liquid chromatography market.
Recent Developments:
- In January 2024, Agilent Technologies Inc. was honored with two esteemed accolades from SelectScience: the Best New Drug Discovery & Development Product of 2023 and the Drug Discovery & Development Webinar of the Year. These awards show how dedicated Agilent is to being the best in the drug development industry.
- In February 2024, Bayer AG and Thermo Fisher Scientific Inc. announced their collaboration to create companion diagnostic tests based on next-generation sequencing. They provide quick turnaround times and decentralized genetic testing, which can assist in finding patients who could benefit from Bayer’s expanding range of precision cancer treatments.
High-Performance Liquid Chromatography Market Report Scope
|
Report Attribute |
Specifications |
|
Market Size Value In 2023 |
USD 5.16 Bn |
|
Revenue Forecast In 2031 |
USD 7.30 Bn |
|
Growth Rate CAGR |
CAGR of 4.43% from 2024 to 2031 |
|
Quantitative Units |
Representation of revenue in US$ Million and CAGR from 2024 to 2031 |
|
Historic Year |
2019 to 2023 |
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Forecast Year |
2024-2031 |
|
Report Coverage |
The forecast of revenue, the position of the company, the competitive market structure, growth prospects, and trends |
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Segments Covered |
By Product, By Application and By Region |
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Regional Scope |
North America; Europe; Asia Pacific; Latin America; Middle East & Africa |
|
Country Scope |
U.S.; Canada; U.K.; Germany; China; India; Japan; Brazil; Mexico; France; Italy; Spain; South East Asia; South Korea |
|
Competitive Landscape |
Agilent Technologies, Inc., Thermo Fisher Scientific Inc., Bio-Rad Laboratories, Inc., Shimadzu Corporation, Waters Corporation, PerkinElmer Inc., Merck KGaA, Hitachi, Ltd., YMC CO., LTD., Restek Corporation, Gilson, Inc., Phenomenex, Inc., JASCO, and Orochem Technologies Inc. |
|
Customization Scope |
Free customization report with the procurement of the report and modifications to the regional and segment scope. Particular Geographic competitive landscape. |
|
Pricing And Available Payment Methods |
Explore pricing alternatives that are customized to your particular study requirements. |
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