What is the estimated growth rate of the High-performance Liquid Chromatography (HPLC) Market for the next 5 years?

 The growth in high-performance liquid chromatography market is driven by high sensitivity &accuracy of the HPLC technique, the growing importance of HPLC tests in drug approvals, the rising popularity of hyphenated techniques, and increasing pharmaceutical R&D spending. However, the high cost of HPLC systems is expected to restrict market growth to a certain extent.

The global high-performance liquid chromatography market size is projected to reach USD 5.7 billion by 2025 from USD 4.5 billion in 2020, at a CAGR of 4.6% during the forecast period.

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Market Segmentation: -

Based on the product, the market was divided into instruments, consumables, and accessories. The instrument market is subjected to account for the largest share in the HPLC market and consumables to growth at the highest rate during the forecast period. The need to analyze compounds in trace concentration and the extensive use of the system in forensic institutes and industries such as pharmaceuticals, food, nutraceuticals, cosmetics, and environmental testing calls for growth of the segment.

Based on the application, the HPLC market is divided into clinical research, diagnostics, forensics, and other applications. Clinical research is subjected to grow at the highest rate in the forecast period. A rise in pharmaceutical and biotechnological research fueled by the need for numerous preclinical and clinical studies performed during the drug discovery and development process is said to drive the market.

Regional Analysis:

North America is expected to account for the largest share of the global HPLC market. Market growth in this region is driven primarily by the increase in R&D funding, the growing number of preclinical activities by CROs &pharmaceutical companies, and the increasing food & agricultural industry in Canada. On the other hand,AsiaPacific is projected to have the highest growth rate in the forecast period. The high growth rate of the Asian region can be attributed to factors such asextensive sales of biosimilars and generics in Japan, and the development in the pharma and biotech sectors in India and China are some of the major factors driving the growth of the HPLC market.

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Top key Players:

The global HPLC market is well established owing to the dominance of prominent market players, such as Waters (US), Agilent (US), Shimadzu (Japan), Thermo Fisher (US), PerkinElmer (US), GE Healthcare (US), Bio-Rad (US), Merck Millipore (Germany), Hitachi (Japan), Showa Denko (Japan), Gilson (US), Phenomenex (US), JASCO (US), Hamilton Company (US), SIELC (US), Orochem (US), YMC Co. Ltd. (Japan), Restek (US), Trajan Scientific (Australia), and Tosoh Bioscience LLC (Japan).