Chromatography Columns Market Research Report: Information by Column Type (Normal Phase Chromatography Columns, Pre-Packed Chromatography Columns, Automated Chromatography Columns), by Chromatography Type (Ion Exchange Chromatography, Affinity Chromatography, Gas Chromatography, Size Exclusion Chromatography) by Application (Anion & Cation Exchange, Sample Preparation, Resin Screening, Protein Purification, Desalting), byEnd User (Research Institutes, Pharmaceutical Biotechnology Companies, Food & Beverage Manufacturers) and by Region (North America, Europe, Asia-Pacific, and Rest of the World) - Forecast till 2027
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Chromatography Columns Market Forecast
The chromatography columns market is expected to cross ~USD 16,320 million by 2027 at a CAGR of ~5.8%.
Rise in production of monoclonal antibodies, and increasing demand for biopharmaceutical products areexpected to augment the market growth at a healthy CAGR of ~5.8 during the forecast period of 2021 to 2027
Regional Analysis
North Americais likely to dominate the chromatography columns market in 2020, owing to the presence of key players, increasing investments in R&D, and rising drug development activities in the region. For instance, in 2020, the National Institutes of Health (NIH) was funded with USD 42 billion, which was an increase of7% compared to 2019.
Europeis likely to account for a significant share in the chromatography columns market due to supportive government initiations and rising R&D investments. For instance, the EU had set up the Horizon 2020 with a funding of around USD 95 billion for research and innovations, which ran from 2014 to 2020.
Asia-Pacific is anticipated to be the fastest-growing market during the forecast period due to improving healthcare infrastructure, increasing R&D expenditure, and rising disease burden in the region. For instance, according to the Cancer Council of Australia, around 150,000 new cancer cases were diagnosed, along with around 50,000 deaths were recorded in 2020. Moreover, according to World Cancer Research Fund (WCRF), in 2018, Australia had the highest cancer rate in the world for both sexes at 468.0 per 100,000 individuals. Furthermore, signifying the increase in research spending, according to Statista (Germany), China will surpass the US in R&D expenses in 2021 with an estimated USD 621 billioninvestment compared to USD 598.7 billion by the US.
Furthermore, the growth of the market in the rest of the world is expected to grow at the least CAGR due to low R&D expenditure and inadequate healthcare infrastructure. However, factors such as government initiatives to bring in technological advancements and expansion of R&D capabilities in the region by global players are expected to provide growth for the market in the region during the forecast period.
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