Prepacked Chromatography Columns Market to Rise at 8.4% CAGR Till 2024; Rising Demand From Pharmaceutical and Biotechnology Industries to Drive Market, Says TMR
ALBANY, New York, December 6, 2018
ALBANY, New York, December 6, 2018 /PRNewswire/ --
According to the report, the global prepackaed chromatography columns market will register an 8.4% CAGR from 2016 to 2024, rising from a valuation of US$1.6 bn in 2015 to an opportunity US$3.3 bn by 2024. Of the key end-use sectors that the market serves, the segment of pharmaceutical biotechnology is likely to remain the most lucrative over the forecast period. North America, which is presently the dominant regional market, is also likely to hold a strong position in terms of growth opportunities and future growth prospects over the forecast period.
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Vast Set of Applications of Prepacked Chromatography Columns a Leading Growth Driver
Owing to the fact that prepacked chromatography columns are well suited for applications such as detection as well as separation of organic components and molecules, these columns make for a central component in the manufacture of a variety of biopharmaceutical products. These columns also find vast usage in indsutries such as agriculture, chemicals, biotechnology, food and beverages, and forensics. This vast set of application areas is one of the leading factor ensuring that the global prepacked chromatography columns market has promising growth opportunities.
The market is also likely to benefit from the vast rise in the number of clinical trials being undertaken for monoclonal antibodies for the treatment of a variety of conditions. The massive rise in R&D activities in the biopharmaceutical sector, which is a leading consumer of prepacked chromatography columns for screening and purification of raw components, is also likely to emerge as a leading growth driver for the global prepacked chromatography columns market in the near future.
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High Cost of Prepacked Chromatography Columns Could Restrict Market Growth
Despite holding good appeal in the healthcare industry, the market for prepacked chromatography columns could be shadowed by the economic slowdown in several countries globally and the consecutive decline in government budgets and funding kept aside for R&D activities associated with the healthcare industry. Moreover, the high costs of these columns and issues associated with clogging and fouling of some prepacked chromatography columns could also hinder the growth prospects of the market to a certain extent in the coming years.
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The competitive landscape of the global market for prepackaged chromatography columns features a high level of consolidation as the leading two companies collectively accounted for nearly 78% of the entire market in 2015, observes Transparency Market Research in a recent report. These top companies, namely GE Healthcare and Repligen, have a stronghold on the market owing to their expansive portfolio of products and services in the field and a well-established presence across several key regional markets. On the other hand, smaller companies are focusing on providing customized and economical products and tapping collaboration opportunities with promising regional vendors.
This analysis of the global prepackaed chromatography columns market is based on a recent market research report by Transparency Market Research, titled "Prepacked Chromatography Columns Market: (Product Type - 1-100 ml, 100-1000 ml, and >1L; Technique - Hydrophobic Stationary Phase, Ion Exchange Chromatography, Affinity Chromatography, Multimodal Chromatography, Gel Filtration; Application Type - Sample Preparation, Resin Screening, Protein Purification, Anion and Cation Exchange, and Desalting; End-user - Pharmaceutical Biotechnology, Food and Beverage, Agriculture and Environmental, Nutraceutical, Academics and Research, and Analytical Laboratories) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2016-2024."
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