High-Performance Liquid Chromatography Global Market Report 2024: Market Size Set To Grow At A Rate Of 10%
High Performance Liquid Chromatography Global Market Report 2024 - Market Size, Trends, And Global Forecast 2024-2033
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What is the Expected Market Growth for High-Performance Liquid Chromatography in 2024?
The high-performance liquid chromatography market has experienced notable growth in recent years. It is anticipated to grow from $5.84 billion in 2023 to $6.32 billion in 2024, reflecting a compound annual growth rate CAGR of 8.3%. This growth in the past can be correlated to factors including increased pharmaceutical research, a rise in food and beverage analysis, burgeoning demand from environmental testing, a surge in clinical diagnostics usage, and escalated research and development.
Insights Into Global High-Performance Liquid Chromatography Market Growth Forecast
The high-performance liquid chromatography market is forecast to see accelerated growth in the coming years. It is anticipated to expand to $9.3 billion in 2028 at a compound annual growth rate CAGR of 10.1%. This growth for the forecast period can be correlated with increasing requirements for drug safety and quality assurance, demand from precision medicine, expansion of cannabis testing, increased environmental monitoring, and increasing method development. Major trends predicted for the forecast period include the adoption of advanced detectors, high-throughput HPLC, environmentally friendly and sustainable HPLC, adoption of UHPLC, and LC-MS integration.
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What are The Key Growth Drivers for The High-Performance Liquid Chromatography Market?
The surge in the prevalence of chronic diseases will likely fuel the high-performance liquid chromatography market in the future. Chronic diseases such as cancer, heart disease, stroke, diabetes, and arthritis often last longer and demand more medical investigation. High-Performance Liquid Chromatography HPLC analyzes any medications to verify their identity, provide quantitative data and track the progress of illness therapy. It can also be utilized to further the understanding of normal and pathological processes in the human body through biological and therapeutic research, consequently boosting the market's growth.
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Which Leading Companies Operate in The High-Performance Liquid Chromatography Market?
Major market players include Waters Corporation, Agilent Technologies Inc., Shimadzu Corporation, Thermo Fisher Scientific Inc., PerkinElmer Inc., GE Healthcare, Bio-Rad Laboratories Inc., Merck Millipore, Hitachi Ltd., Phenomenex Inc., JASCO Corporation, Gilson Inc., Knauer GmbH, SIELC Technologies, and several others.
How is Technology Influencing the High-Performance Liquid Chromatography Market?
Technological advancements are becoming increasingly popular in the high-performance liquid chromatography market. These include integrated high-performance liquid chromatography HPLC and ultra-high performance liquid chromatography UHPLC capabilities. Major market players are developing advanced HPLC technologies that provide dual injection systems, multi-dimensional capabilities, and alternative intermediate pressures, thereby enhancing the technique's utility for a wide range of research applications.
How is the High-Performance Liquid Chromatography Market Segmented?
The high-performance liquid chromatography market covered in this report is segmented as follows:
1 By Product: Instruments, Consumables, Accessories
2 By Application: Clinical Research, Diagnostics, Forensic, Other Applications
3 By End-User: Pharmaceutical And Biotechnology Industries, Diagnostic Laboratories, Food And Beverage Industry, Academic And Research Institutes, Others End-Users
What are The Regional Insights Into High-Performance Liquid Chromatography Market?
In 2023, North America was the largest region in the high-performance liquid chromatography market. However, Asia-Pacific is projected to be the fastest-growing region in the global high-performance liquid chromatography market during the forecast period. The regions covered in the report also include Western Europe, Eastern Europe, South America, the Middle East, and Africa.
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