The global HPLC market size is projected to reach USD 5.7 billion by 2025 from USD 4.5billion in 2020, at a CAGR of 4.6% during the forecast period. The growth in this market is driven byhigh sensitivity and accuracy of the HPLC technique, the growing importance of HPLC tests in drug approvals,the rising popularity of hyphenated techniques, and increasing pharmaceutical R&D spending. However, the high cost of HPLC systems is expected to restrict market growth to a certain extent. A dearth of trained resources may also challenge market growth in the coming years.
The global HPLC market is well established owing to the dominance of prominent market players, such as Waters (US), Agilent (US), Shimadzu (Japan), Thermo Fisher (US), PerkinElmer (US), GE Healthcare (US), Bio-Rad (US), Merck Millipore (Germany), Hitachi (Japan), Showa Denko (Japan), Gilson (US), Phenomenex (US), JASCO (US), Hamilton Company (US), SIELC (US), Orochem (US), YMC Co. Ltd. (Japan), Restek (US), Trajan Scientific (Australia), and Tosoh Bioscience LLC (Japan).
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Waters was the largest player in the HPLC market. The company has been operating in the life science and analytical instruments business since 1958. It is one of the pioneers in the field of HPLC and has managed to establish a brand of its own. Product launches and strategic collaborations and acquisitions will further augment its position in the market. The company has managed to establish a base of more than 40,000 customers around the world, and this figure is expected to grow in the coming years. The company’s HPLC products are used in pharmaceutical, industrial, and life science processes, such as drug discovery and development, clinical trial testing, nutritional safety analysis, and environmental testing.
Agilent was the second-largest player in the global HPLC market. A large part of the company’s revenue is generated from its Life Sciences and Applied Markets and Agilent CrossLab segments. The growth of the company is attributed to strategic mergers and acquisitions, strategic transactions, and improved R&D and capital expenditure. Agilent’s strategy to launch multiple products for effective and efficient chromatography studies has ensured its growth in this market. Expansions undertaken by Agilent to introduce new research and logistics bases in Asian countries are expected to strengthen its position in this market further. The company sells the majority of its products through a direct sales force.
Shimadzu was the third-largest player in the HPLC market. It operates under five business segments—Analytical Instruments, Medical Systems, Aircraft Equipment, Industrial Machinery, and Testing and Measuring Instruments. Around 65% of the company’s revenue is generated from its Analytical and Measuring Instruments segments. The company dominates the markets in Asia and Europe. It is operating successfully in the highly competitive analytical instruments market, primarily based on the ease of use, software compatibility, and the cost-efficiency of its products.
Other players operating in the HPLC market adopted the strategy of collaborations, contracts, agreements, partnerships, alliances, acquisitions, expansions, product launches, grants, accreditations, patents, and licensing to increase their customer base across geographies and establish a strong foothold in the market.
High-performance Liquid Chromatography (HPLC) Market by Product (Instruments (Systems, Detectors), Consumables (Columns, Filters), and Accessories), Application (Clinical Research, Diagnostics, Forensics), Region - Global Forecast to 2025
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