Liquid Chromatography

Liquid Chromatography Global Market Outlook:

MARKET OVERVIEW

Global Liquid Chromatography Market: $4.71 Billion (2022E)

Global Growth CAGR of Liquid Chromatography Market: 5.8 percent (2021H–2026F)

• The US and EU contribute to a majority of the spend and revenue in the LC equipment and component market

• China is, however, a favored nation for the production of components for lesser cost and is expected to shift the industry dynamics and has catapulted itself as a dominant supplier post COVID

Liquid Chromatography Market Dynamics

Operational Improvements Aiming Efficiency

• Process efficiency targeting separator phase, providing effective covalent immobilization without hindering the chiral recognition capability are being experimented

• These advancements in combination with instrumental advances enable impressive result quality and reduce time of tests

Advance Columns

• Advances in columns, include trypsin spin columns in line with peptide mapping, specialized spin columns for post translation modifications

• The impact of these are speed, reproducibility and cost-effectiveness

End-User Segments

• Multiple end use applications are contributing to the growth, including   food and beverages, cosmeceuticals and nutraceuticals are increasing the growth of this industry

• However, with pharma pipeline and number of new diseases, spend from analytical and research segments will have an increased growth potential

Maintenance – Key for Contracts

• Purchase of high-end equipment from OEMs generally covers maintenance and regular service. The current automated market aims to include automated training manuals reducing total cost involved in equipment procurement

• Contracts these days establish OEMs as multi-vendor service partner, who provide service for other OEM products as well. They offer better service than third party service providers

Automation – Reduced Time to Market

• Automated calibration, data capture and analysis, data transfer are some areas of interest and investment in the market from buyers as well as suppliers

• Demand for software for managing clinical trials and workflow including regulatory compliance and data security is encouraging new software entrants and OEMs to invest in such software

Porter's Analysis on Liquid Chromatography

Supplier Power

• Supplier power is on the higher side, as supply base for laboratory equipment and supplies is consolidating, due to the inorganic growth potential of the market. However, due to the recent emergence of new suppliers, the supplier power will shift back to a lower to medium level

Barriers to New Entrants

• The initial setup cost for a equipment manufacturing facility is on the higher side. Setting up a facility that can manufacture large lab equipment on a large scale is challenging

• The regulatory requirements and other technical complexities related to the set up of a lab equipment's facility are on the higher side

Intensity of Rivalry

• Major suppliers in the industry, who cater to the same equipment, are scarce. Hence, there is medium-to-high intensity of rivalry among suppliers

Threat of Substitutes

• Threat of substitute is on the medium side, as some of the equipment can be replaced or improved with automation, as new technologies are emerging

• Newer techniques, which could reduce the requirement of a chromatograph, are less, and hence, a very low threat currently

Buyer Power

• The supplier market consists of selective suppliers, who are able to cater to several big pharmaceutical companies requirement, in terms of grade and availability. Pharma companies do not have a wide choice and ability to switch among suppliers, hence, a medium buyer power