Future Growth Potential Enhanced by Growth Opportunities in Food and Beverages and Pharmaceuticals Sector
The APAC chromatography market is estimated to experience a CAGR of approximately 2.5% from 2019 to 2025, reaching $1,618.6 million.
The objective of this study is to identify the key trends prevailing in the market in the base year 2019 and what factors boost and restrain market growth. In particular, it also discusses the product areas, vertical market segments and application areas that bolster growth for the forecast period - 2020 to 2025.
With 2019 as the base year, the research provides estimates of the market size and future growth prospects up to 2025. For this purpose, a specific methodology is followed that includes a discussion with senior management of chromatography instrument manufacturers that is supported by secondary research.
Spending on chromatography will reduce in 2020 due to COVID-19 and unforeseen challenges (e.g., buyer purchasing power).
Focus on research and development (R&D) in the Internet of Things (IoT) will continue to boost demand, as vendors will try to differentiate their products with key features and functionalities.
The demand for chromatography instruments in the forecast years is expected to be from high-growth industries such as food and beverages and pharmaceuticals due to their application in food and drug testing.
Demand is expected to increase for instruments:
- With a low cost of ownership
- That provide remote data and condition monitoring solutions
The revenue of the chromatography market was $1,397.4 million in 2019, with a base-year growth rate of 7.4%. The market is set to grow further, once the impact of COVID-19 reduces.
Research Highlights:
- In-depth analysis with market sizing of segments:
- Gas chromatographs (laboratory and process)
- Liquid chromatographs (laboratory)
- Ion chromatographs (laboratory)
- Regional perspective of demand pattern in Southeast Asia (SE Asia)-Australia New Zealand (ANZ) and North Asia
- Market size and growth opportunities based on end-user verticals such as:
- Pharmaceuticals and biotechnology
- Food and beverage testing
- Environmental safety and testing
- Chemicals and petrochemicals
- Oil and gas
Further, growth of the market segments is forecasted and an in-depth analysis of the competitive situation is provided including vendors' market shares.
