This wide array of applications are anticipated to bolster prospects for the global high performance liquid chromatography market during the forecast period (2020-2026). Anticipated CAGR during this period is pegged at 5.4%. High Performance Liquid Chromatography (HPLC) is a highly sophisticated and an expensive technique, used to separate and identify various compounds in liquids and tissues.
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HPLC techniques have been widely used in food processing, clinical diagnosis and forensic sciences. The technique is commonly used for drug analysis, separation of molecules and environmental control. The recent COVID-19 pandemic is poised to moderately impact testing volumes due to a number of the key companies’ employees practicing social distancing. Nevertheless, overall growth prospects shall remain positive.
Key Takeaways of Global HPLC Market Study:
- By product type, the instruments segment is poised to be leveraged the maximum in the global HPLC market. This is attributed to the reduction in the usage of detectors and pumps in favor of more accurate and precise instruments. The segment is anticipated to capture more than 2/5th of the overall market.
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- By end-users, pharmaceutical & biotechnology industry and diagnostic laboratories segments shall grow at a CAGR of 5.7% each, burgeoned by increased government initiatives to fund small-scale industries and entry of existing market players and the rising prevalence of chronic diseases.
- The food and beverage industry shall expand rapidly, owing to the increasing demand for nutritious food and better packaging. The segment is poised to expand 1.4x, capturing more than 1/5th of the global HPLC market.
- By region, Europe is anticipated to capture nearly one-third of the global HPLC market, growing at a CAGR of 4.4%. Increasing investments by key players in the pharmaceutical and biotechnology industry, as well as government intervention in the field of environmental control and food safety is poised to leverage the region’s growth.
- Asia-Pacific shows promising growth prospects. This is attributed to increasing investments by key players in clinical research and development of new drugs to provide innovative treatment options. A CAGR of 5.3% is predicted for the region.
“The global HPLC market is poised to expand on a positive growth trajectory in the future. The wide range of applications of HPLC techniques has prompted key players to invest heavily in strengthening their product portfolios to offer novel solutions. While the COVID-19 pandemic may limit the volumes of testing, the overall growth trend is poised to remain elevated,” interprets a Fact.MR analyst.
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Global HPLC Market: Research and Development Initiatives to Define Competition Landscape
The global HPLC market comprises of the following players: Bio-Rad Laboratories, Inc., Thermo Fisher Scientific, Inc., Agilent Technologies, Inc., Waters Corporation, GE Healthcare, Shimadzu Corporation, PerkinElmer Inc., Gilson, Inc., and Phenomax, Inc., to name a few. These companies have invested in strengthening their product portfolio and research and development operations.
Waters Corporation is a leading life sciences company which designs, develops and markets liquid chromatography instruments, such as the Alliance HPLC System which provides advanced solvent delivery capabilities. Similarly, Agilent Technologies specializes in three categories of HPLC systems: Analytical, Application-Specific and Preparative Systems.
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COVID-19 Market Insights:
The leading players in the HPLC market consider the well-being of their staff of primary importance. Most players like Agilent Technologies have established business continuity plans (BCPs) to ensure that their production does not fall behind. The BCPs cover the physical infrastructure of the site, supply-chain disruptions and logistics.
The company has a diversified supply chain which helps guarantee surety of supply. While most of the workforce operates from home, there are a few workers who have to work on-site. For them, additional precautionary measures are being taken by leading players such as increased cleaning and disinfection, screening and restricted access for visitors and availability of personal protective equipment.
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