The coronavirus outbreak is anticipated to moderately impact the market owing to lockdown restrictions, and postponement of elective medical procedures. On the other hand, high performance liquid chromatography has potential in vaccine development processes for the virus, which is lucrative for market players in the short term.
The global high performance liquid chromatography market is anticipated to grow at a healthy 5% CAGR between 2020 and 2026.
Apart from primary applications in the manufacturing and pharmaceutical sectors, niche applications of high-performance liquid chromatography in legal drug testing and bio research verticals will drive up market growth opportunities for the foreseeable future.
High Performance Liquid Chromatography (HPLC) Market- Key Takeaways
- Consumables for high performance liquid chromatography processes are key to revenues, driven by high replacement rates.
- Contract research organization are contributing significantly to revenues, supported by investments into bio-medical research applications.
- North America is a leading region for high performance liquid chromatography, supported by government investments into research, and the presence of major market players.
High Performance Liquid Chromatography (HPLC) Market- Driving Factors
- Critical application in the process of drug approvals is a major contributor to market growth.
- Adoption of alternatives to spectroscopic analysis methods provides lucrative opportunities to market players.
High Performance Liquid Chromatography (HPLC) Market- Key Restraints
- Prohibitive costs of high-performance liquid chromatography devices hold back adoption rates.
- Shortage of adequately skilled technicians is a major challenge to market players.
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COVID-19 Impact on High Performance Liquid Chromatography (HPLC) Market
The coronavirus pandemic has resulted in major investments into covid-19 vaccine development, which requires research on structural biology, creating potentially lucrative opportunities for players in the high-performance liquid chromatography market.
Restrictions on elective medical services will hold back HPC applications in the short term, hurting profitability in the months to come.
Phenomax Inc., Bio-Rad Laboratories Inc., Gilson Inc., Thermo Fisher Scientific Inc., PerkinElmer Inc., Agilent Technologies Inc., Shimadzu Corp., Waters Corp., and GE Healthcare are some prominent high-performance liquid chromatography (HPLC) market players.
Leading participants in the high-performance liquid chromatography (HPLC) market are largely invested in product innovation and product launch efforts to widen their portfolios and boost functionality.
GE Healthcare has announced the development of a new HPLC resin for Fc-containing recombinant proteins.
Waters Corp has unveiled a new high-performance liquid chromatograph ARC system for pharma, food, and material applications.
Thermo Fisher Scientific has launched the new Vanquish Core HPLC systems for routine lab applications.