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Market Foresight

Global chromatography market poised to expand through 2023

The global chromatography market is driven by innovations in technology and increased demand from the pharmaceutical and biotechnology sectors. There is a growing need for chromatography instruments and reagents for research and development. The market will reach USD 14.0 billion by 2023, according to BCC Research. Chromatography occupies a prominent place in the analytical and separation domain. Advances in technology have enabled improvements in chromatography methods that have led to higher resolutions, peak separation, enhanced sensitivity, and faster speeds of analysis. From an estimated value of USD 9.8 billion in 2018, a 5-year compound annual growth rate (CAGR) of 7.3 percent is projected.

Restraints hindering the global chromatography market’s growth include the high cost of chromatography equipment, in addition to expensive resins and packing material. The need for skilled personnel also limits the use of chromatography techniques in routine applications. Tremendous growth opportunities in emerging countries—particularly the Asia-Pacific region due to its vast populations, developing healthcare infrastructures, and favorable government incentives—are attracting many potential chromatography players to these areas. Emerging markets for chromatography are expected to have the highest growth rate at a CAGR of 8.1 percent through 2023.

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