A recent research by Fact.MR estimates the global demand for gas chromatography market to exhibit an above-average expansion through the forecast period 2017 to 2022. The global market for gas chromatography is expected to exceed US$ 3,500 Mn in revenues by 2022-end.
There has been a significant surge in adoption of gas chromatography among industrial sectors such as oil & gas, agriculture, food & beverage, and healthcare. Gas chromatography is also being adopted in research organizations, academic institutes, clinical toxicology, and environmental agencies. Combination of gas chromatography and mass spectrometry (GC-MS), has found its application in fire investigation, identifying unknown samples, environmental analysis, investigation of explosives, and detection of drugs.
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On the back of these applications, gas chromatography will witness a substantial rise in demand in the upcoming years. Various governments are making investments for the development of advanced chromatography technologies. In addition, a number of collaborations have been witnessed between research laboratories, and academic institutes since the recent past. Gas chromatography tests have become highly imperative for drug approvals. The aforementioned factors will augment growth of the global gas chromatography market over the forecast period.
Higher growth potential for the market is being observed in emerging countries, because of their rising GDP, along with increasing healthcare spending driven by the large population base. One of the major trends discerned in the global gas chromatography market is growth in adoption of the micro gas chromatographs. A number of companies are shifting their focus to utilization of small instruments, in order to save huge investments and space. Several benefits are offered by micro gas chromatographs such as lower energy consumption, short delays in receiving results, lower sample gas quantity required, increased reliability in operation, and process accuracy & precision. However, instruments of gas chromatography involve huge initial capital investments, with shortage of skilled professions for their operation. These factors might hamper the market growth.
6 Key Projections on Future of Global Gas Chromatography Market
- Auto-samplers, and accessories & consumables will emerge as the fastest-selling products in the market, with auto-samplers being more lucrative than the accessories & consumables, in terms of revenues.
- Gas chromatography instruments will remain the most lucrative product, with sales estimated to surpass US$ 1,600 Mn in revenues by 2022-end.
- Oil & gas industries will continue to be the largest end-users in the global gas chromatography market. In addition, revenues from pharmaceutical & biotechnology industries, and oil & gas industries will hold approximately two-third market share during 2017 to 2022.
- North America will retain its dominance in the global gas chromatography market, with sales exhibiting an impressive expansion through 2022. United States is becoming well known for its biopharmaceutical research, and the production of pharmaceutical drugs. Geriatric population in North America has been surging, which in turn is driving demand for medicines to treat various diseases. These factors will propel growth of the market in North America.
- Europe will continue to be the second largest market for gas chromatography throughout the forecast period.
- Key players listed in Fact.MR’s report on the global gas chromatography market include Danaher Corporation, Perkin Elmer Inc., LECO Corporation, Shimadzu Corporation, Restek Corporation, Merck KGaA, Thermo Fisher Scientific, Inc., DANI Instruments S.p.A, and Agilent Technologies.
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North America’s Dominance in the Global Gas Chromatography Market will Remain Unchallenged through 2022
North America is projected to remain the largest market for gas chromatography, expanding at an impressive CAGR through 2022. In this region, the United States is well known for biopharmaceutical research, and production of pharmaceutical drugs.
The number of geriatric population in North America is witnessing a rise, thereby driving demand for different medicines for treatment of different diseases. These factors will drive growth of gas chromatography market in North America. Europe is expected to be the second most lucrative market for gas chromatography over the forecast period.
Accessories & consumables, and auto-samplers are expected to emerge as the fastest-selling products in the global gas chromatography market. Auto-samplers will remain more lucrative than accessories & consumables of gas chromatography, in terms of revenues.
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