Chromatography Reagents Market worth $7.8 billion by 2025 - Exclusive Report by MarketsandMarkets
CHICAGO, Dec. 3, 2020 /PRNewswire/ -- According to the new market research report "Chromatography Reagents Market by Technology (GC, LC, SFC, TLC, and Paper Chromatography), Type (Solvents, Buffers, Derivatization Reagents, Ion-Pair Reagents, and Others), Separation Mechanism, Application - Global Forecast to 2025", published by MarketsandMarkets, the Chromatography Reagents Market is projected to reach USD 7.8 billion by 2025 from an estimated USD 5.5 billion in 2020, at a CAGR of 7.1% during the forecast period.
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82 – Tables
29 – Figures
160 – Pages
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The Increasing R&D investments in the pharmaceutical and biotechnology industry is driving the growth of the market. Moreover, growing use of chromatography in proteomics is likely to provide opportunities for chromatography reagents industry.
The pharmaceutical testing, application segment is expected to grow at the highest CAGR from 2020 to 2025.
Pharmaceutical manufacturers and related testing service providers are among the key end users of chromatography reagents. They use analytical instrumentation during various stages of drug discovery, drug research and development, pharmacokinetics, toxicology, and clinical studies, as well as during the manufacturing of bulk drugs and biological products, drug stability testing, and in qualitative and quantitative pharmaceutical analysis. Increasing R&D for therapeutic areas, such as cancer, HIV/AIDS, and immunodeficiency disorders, technological innovations in biotechnology research, increasing focus of pharmaceutical and biotechnology companies on extending their product pipeline, rising number of drug discovery and clinical trial projects, and patent expiry of blockbuster drugs and biomolecules are some of the key factors driving the growth of this segment. Additionally, the availability of government and corporate funding for biotechnology and pharmaceutical research, growth of the pharmaceutical industry, and presence of stringent regulatory guidelines for drug development and safety are the other key factors driving the growth of this segment.