Gas Chromatography Market is Estimated To Witness High Growth Owing To Growing Environmental Safety Regulations
Gas chromatography is analytical technique used to separate volatile compounds and analyze their concentrations. It involves vaporization of sample mixture, carriage of analytes through a long capillary column by inert carrier gas, and detection of analytes individually based on their interactions with column components. Advantages of gas chromatography include accurate quantification down to parts-per-billion or even lower levels, minimal sample preparation requirements, ability to analyze complex mixtures, and real-time data acquisition. The technique finds wide application in environmental testing, food and beverage analysis, and pharmaceutical quality testing.
The Gas Chromatography Market is estimated to be valued at US$ 9.64 Bn in 2023 and is expected to exhibit a CAGR of 7.1% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
Rising environmental safety regulations across industries to analyze and control hazardous air pollutants emissions is a key trend fueling growth of the gas chromatography market. Stringent standards regarding limits of volatile organic compounds (VOCs) in industrial effluents have ramped up demand for GC systems for continuous emissions monitoring. Additionally, growing role of GC in drug discovery and development processes for separation and isolation of components is creating new opportunities. Pharmaceutical companies are increasingly adopting GC techniques for purity checking and quality control testing of active pharmaceutical ingredients (APIs) and final drug products.
Porter’s Analysis
Threat of new entrants: High capital requirements for R&D, manufacturing and distribution networks pose barriers to new entrants in Gas Chromatography Market.
Bargaining power of buyers: Presence of several established suppliers results in moderate bargaining power for buyers in Gas Chromatography Market.
Bargaining power of suppliers: Diversity in products and availability of substitutes decreases supplier bargaining power in Gas Chromatography Market.
Threat of new substitutes: Limited threat of substitutes due to technological advancements and lack of close substitutes for Gas Chromatography systems in Gas Chromatography Market.
Competitive rivalry: Intense competition among leading players results in high competitive rivalry in Gas Chromatography Market.
SWOT Analysis
Strength: Gas Chromatography systems offer high resolution, separation efficiency and reproducibility for diverse applications.
Weakness: Requirement of trained professionals and high costs associated with Gas Chromatography systems and services.
Opportunity: Growing demand from healthcare and food testing industries and technological advancements in Gas Chromatography systems.
Threats: Stringent regulations surrounding chromatography operations and environmental risks associated with solvent usage.
Key Takeaways
The global Gas Chromatography Market is expected to witness high growth, exhibiting CAGR of 7.1% over the forecast period, due to increasing demand from healthcare and food testing industries. North America dominated the global market in 2023, owing to presence of major players and adoption of technologically advanced products in the region.
Regional analysis Asia Pacific is projected to be the fastest growing market for Gas Chromatography during the forecast period. This is attributed to growing pharmaceutical and biotechnology industries, increasing manufacturing activities, and rising healthcare expenditure in emerging economies of China and India.
Key players operating in the Gas Chromatography market are Agilent Technologies, Inc., Thermo Fisher Scientific, Inc., Danaher Corporation, Merck KgaA, and PerkinElmer, Inc. Major players are focusing on new product launches and investments in R&D to strengthen their market position.
