A $3.4 Billion Global Opportunity for Gas Chromatography Systems by 2026 - New Research from StrategyR
SAN FRANCISCO, March 22, 2022 /PRNewswire/ -- A new market study published by Global Industry Analysts Inc., (GIA) the premier market research company, today released its report titled "Gas Chromatography Systems - Global Market Trajectory & Analytics". The report presents fresh perspectives on opportunities and challenges in a significantly transformed post COVID-19 marketplace.
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- Global competitiveness and key competitor percentage market shares
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Edition: 20; Released: February 2022
Executive Pool: 31971
Companies: 89 - Players covered include Agilent Technologies Inc.; Bio-Rad Laboratories, Inc.; DANI Instruments SpA; GL Sciences, Inc.; JEOL USA, Inc.; O.I.Corporation; PAC L.P.; PerkinElmer, Inc.; Trajan Scientific and Medical; Shimadzu Corp.; SRI Instruments; Thermo Fisher Scientific Inc.; Yokogawa Electric Corporation and Others.
Coverage: All major geographies and key segments
Segments: Component (Accessories & Consumables, Reagents, Instruments); End-Use (Oil & Gas, Pharma & Biotech, Environmental Labs, Food & Beverage, Other End-Uses)
Geographies: World; USA; Canada; Japan; China; Europe; France; Germany; Italy; UK; Spain; Russia; Rest of Europe; Asia-Pacific; Australia; India; South Korea; Rest of Asia-Pacific; Latin America; Argentina; Brazil; Mexico; Rest of Latin America; Middle East; Iran; Israel; Saudi Arabia; UAE; Rest of Middle East; Africa.
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ABSTRACT-
Global Gas Chromatography Systems Market to Reach $3.4 Billion by 2026
Gas Chromatography (GC) is a laboratorial, analytical procedure designed to identify, and analyze chemical compounds through the use of gases, which can either be liquid or solid in characteristic. Growth in the market is backed by increasing investments in the pharmaceutical/biotechnology sector, rising funding from governments for research in various sectors, expansion in emerging markets, technological advances and individual factors supporting demand in other end-use sectors. Increasing focus on developing novel and more effective drugs is a major factor expected to drive growth in adoption of gas chromatographs in the pharmaceutical/biotechnology sector. Rising stringency in quality and safety aspects is expected to support growth of gas chromatography in agriculture and food and food products industry, while growing concerns over environmental pollution and concomitant increase in testing for pollution are expected to supplement market growth. The demand for high-speed, miniaturized and portable GC devices is expected to grow in near future more due to their sensitivity. The handheld GC is suitable for detecting chemical warfare agents. Miniaturization is another trend catching up in the market, with increasing focus on developing miniaturized systems that occupy less space and enable carrying the system to the area where sample is prepared. There is a growing penchant among manufactures to develop portable systems for designation applications, expanding the scope of gas chromatography systems market.
Amid the COVID-19 crisis, the global market for Gas Chromatography Systems estimated at US$2.8 Billion in the year 2022, is projected to reach a revised size of US$3.4 Billion by 2026, growing at a CAGR of 4.4% over the analysis period. Accessories & Consumables, one of the segments analyzed in the report, is projected to record a 4.4% CAGR and reach US$1.5 Billion by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Reagents segment is readjusted to a revised 4.8% CAGR for the next 7-year period. Continued improvements in technology are having a positive impact on the market for analytical consumables and reagents, driving their development and uptake parallel to new systems.
The U.S. Market is Estimated at $1.1 Billion in 2022, While China is Forecast to Reach $486.4 Million by 2026
The Gas Chromatography Systems market in the U.S. is estimated at US$1.1 Billion in the year 2022. China, the world`s second largest economy, is forecast to reach a projected market size of US$486.4 Million by the year 2026 trailing a CAGR of 6.3% over the analysis period. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 2.9% and 3.4% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 4.1% CAGR. In developed countries, demand is essentially driven by increasing adoption of advanced gas chromatography technologies, particularly in pharmaceutical, life science and biotech sectors. Growing funding and investments for research in private as well as public sectors is also another major factor driving growth. Use of GCs in environmental testing is gaining momentum especially among countries sensitive to environmental issues, such as Japan, and countries in European Union. In developing countries such as China, the ongoing industrialization creates a huge demand for GCs primarily among petroleum, petrochemical, fine and specialty chemical, natural gas, industrial gas and fuel cell industries.
Instruments Segment to Reach $749.5 Million by 2026
Chromatography instruments are used to provide information on identification and concentration of chemical compounds. Gas chromatographs and liquid chromatographs are the most widely used instruments in analytical laboratories worldwide. The separation technologies employed in chromatography are crucial to pharmaceutical drug discovery process. In the global Instruments segment, USA, Canada, Japan, China and Europe will drive the 3.4% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$530.9 Million will reach a projected size of US$669.8 Million by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$49.6 Million by the year 2026, while Latin America will expand at a 4.2% CAGR through the analysis period.
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Global Industry Analysts, Inc., (www.strategyr.com) is a renowned market research publisher the world`s only influencer driven market research company. Proudly serving more than 42,000 clients from 36 countries, GIA is recognized for accurate forecasting of markets and industries for over 33 years.
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Zak Ali
Director, Corporate Communications
Global Industry Analysts, Inc.
Phone: 1-408-528-9966
www.StrategyR.com
Email: [email protected]
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