The global preparative and process chromatography market is expected to grow at a compound annual growth rate (CAGR) of 6.8% from 2023 to 2028, according to a new report by MarketsandMarkets. The market, valued at $11.3 billion in 2023, is projected to reach $15.6 billion by 2028.
The growth in this market is driven by factors like the increasing need for biosimilars, rising demand for insulin and monoclonal antibodies, and growing use of liquid chromatography-mass spectrometry (LCMS) in research. However, alternative methods or techniques restrain the market growth to some extent.
The process chromatography segment dominated the global market in 2022 and is expected to grow at the highest CAGR during the forecast period. The large market share of process chromatography can be attributed to the growing number of players offering process chromatography products and the increasing number of research projects in areas like proteomics and genomics.
Based on end-user, the pharmaceutical and biotechnology segment held the largest share of the preparative and process chromatography market in 2022. The high market share of this segment is primarily due to rising investments in pharmaceutical manufacturing and the growing global production of monoclonal antibodies (mAbs) and insulin.
North America dominated the global market in 2022 owing to factors like growing R&D expenditure by biopharma companies in the region, increasing demand for insulin, and rising public and private research funding for food safety testing.
Prominent companies operating in the global preparative and process chromatography market include Thermo Fisher Scientific, Merck KGaA, Danaher Corporation, Sartorius AG and Bio-Rad Laboratories. These companies have well-established and financially stable business models and possess state-of-the-art technologies, diversified product portfolios and strong global sales and marketing networks.
Recent developments in the market include Thermo Fisher’s 2023 acquisition of MarqMetrix and Waters Corporation and Sartorius’ collaboration to develop integrated analytical solutions for downstream biomanufacturing.
The growth opportunities presented by this market include factors like the rising demand for monoclonal antibodies due to the increasing number of regulatory approvals for novel mAbs and growing investments by biotech and biopharmaceutical companies in scaling up their production capacities. However, the shortage of skilled and experienced professionals in method development, validation and system troubleshooting could be a key challenge for the preparative and process chromatography market.
https://www.marketsandmarkets.com/Market-Reports/preparative-process-chromatography-market-151748164.html
