LONDON--(BUSINESS WIRE)--The global gas chromatograph market size is projected to reach USD 3.52 billion by 2021, growing at a CAGR of just above 5% over the forecast period, according to Technavio’s latest report.
In this report, Technavio covers the market outlook and growth prospects of the global gas chromatograph market for 2017-2021. To arrive at the market size, Technavio analysts have considered the demand for gas chromatographs from the end-user industries such as life sciences and research from across the globe.
|Gas chromatography (GC) is a type of chromatography for separating and analyzing compounds that can be vaporized without risking decomposition. The swift growth of the pharmaceutical industry in emerging economies is driving the global market for gas chromatography.|
Technavio’s research study segments the global gas chromatograph market into the following regions:
Americas: largest global gas chromatograph market segment
“The Americas is the leading segment of the gas chromatograph market, generating over 44% of the overall revenue. The region is led by the US and Canada, driven by the increasing adoption of highly advanced chromatography techniques in the pharmaceutical and biotechnology industries in these countries,” says Gaurav Mohindru, one of the lead analysts at Technavio for test and measurement research.
The demand for new drug discoveries and increasing demand for personalized medication is driving the constant growth of the pharmaceutical industry. This has resulted in the evolution of innovative chromatographic separation methods in North America. The market in South America will be one of the fastest growing regions around the globe, driven by the use of chromatography techniques in wider applications including the cosmetics, agriculture, and food industries.
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EMEA: market segment driven by biotechnology testing and research
In Europe, the UK, France, Germany, and Sweden are the major revenue contributors, driven by the many research facilities and laboratories in the region. The biotechnology industry is the key end-user of the market and uses chromatography systems for testing and experimenting purposes. Further, factors such as the increase in the number of food and beverage companies, rising preventive healthcare practices, and concern for the environment, will boost the demand for chromatography in Europe. Russia is another key contributor to the market, driven by the increasing focus on healthcare reforms.
APAC: fastest growing gas chromatograph market segment
“APAC is the fastest growing regional segment, projected to grow at a CAGR of close to 6% over the forecast period. The major revenue contributors from the region are Japan, India, and China, driven by rising demand for medicines for chronic diseases as well as initiatives from several governments to promote industrialization,” says Gaurav.
Additionally, the ongoing outsourcing of manufacturing and sales facilities to APAC will further drive the demand for chromatography in the region. With the pharmaceutical industries now focused on emerging markets, countries like China and India are expected to contribute considerably towards the growth of the gas chromatograph market.
The top vendors in the global gas chromatograph market highlighted in the report are:
- Agilent Technologies
- Thermo Fisher Scientific
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Technavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, resellers, and end-users.
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