E-commerce is fastest growing segment fueling the growth of Gas Chromatography Market

 

Gas chromatography involves separating and analyzing compounds that can be vaporized without decomposition. It is used for analyzing vapors in ambient air and emissions from industrial activities. Common uses of gas chromatography include testing the purity of a substance, or separating the different components of a mixture.

The global 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 2023-2030, as highlighted in a new report published by Coherent Market Insights.

Market key trends:
One of the key trends in the gas chromatography market is the increasing demand from the pharmaceutical industry. The pharmaceutical sector relies heavily on GC for analysis of drugs during various stages such as research and development, production, and quality control. GC helps determine the identity, purity, and concentration of components in complex drug formulations. The growth of the global pharmaceutical industry, especially in emerging economies, is fueling the demand for GC in this sector. Furthermore, growing penetration in clinical testing and biosimilar development will continue to present lucrative opportunities over the forecast period.
Segment Analysis

The global gas chromatography market is segmented into instruments, detectors, consumables & accessories, and applications. Among these, the instruments segment dominated the market in 2023 and is projected to maintain its dominance over the forecast period. This is attributed to advancements in gas chromatography instruments and development of hyphenated GC techniques such as GC-MS and GC-IR. However, the consumables & accessories segment is expected to exhibit the highest CAGR owing to frequent requirement of accessories and consumables in GC procedures.

Key Takeaways

The global gas chromatography market size was valued at US$ 9.64 billion in 2023 and is expected to witness high growth, exhibiting a CAGR of 7.1% over the forecast period, owing to increasing demand for analytical techniques in various industries.

Regional analysis - North America dominated the global market in 2023 due to growing pharmaceutical industry and strict regulations regarding drug development and safety. However, Asia Pacific gas chromatography market is projected to grow at the highest CAGR during the forecast period owing to increasing investments by market players and rising outsourcing of clinical trials and analytical testing to regional hubs in developing nations.

Key players - Key players operating in the gas chromatography market are Agilent Technologies, Inc., Thermo Fisher Scientific, Inc., Danaher Corporation, Merck KgaA, and PerkinElmer, Inc. Agilent Technologies and Thermo Fisher Scientific capture over 50% of the global market share due to their extensive product portfolio and global presence.

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