Gas chromatography is used for separating and analyzing compounds that can be vaporized without decomposition. It is widely used in various industries such as pharmaceutical, biotechnology, food and beverage testing, and environmental testing among others. The technique enables separation of different compounds in the mixture and identification of each compound based on its retention time. Some key applications of gas chromatography include analysis of volatile organic compounds, testing of purity of substances, isolation of compounds from complex mixtures and quantitative analysis of different components in mixtures.
The global Gas Chromatography Market is estimated to be valued at US$ 3.29 Billion in 2023 and is expected to exhibit a CAGR of 7.1% over the forecast period 2023-2031, 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 growing demand for hyphenated gas chromatography techniques. Hyphenated techniques involve coupling of gas chromatography with mass spectrometry, infrared or nuclear magnetic resonance spectroscopy. This enables compound identification along with quantification. GC-MS is widely used for identification of unknown compounds and compounds in complex mixtures. GC-IR and GC-NMR provide structural information about compounds separated by gas chromatography. Increasing applications in drug discovery and development is driving the demand for hyphenated GC techniques from pharmaceutical and biotechnology companies. Coupled techniques enhance selectivity and sensitivity of analysis. Market players are focusing on development and commercialization of hyphenated GC systems to tap into the opportunities in pharmaceutical, food and environmental testing industries.
Threat of new entrants: The threat of new entrants is moderate as a large capital investment is required to setup gas chromatography facilities. There exists economic barriers which protect existing firms.
Bargaining power of buyers: The bargaining power of buyers is moderate as buyers have many options from key players operating in the market. However, customized solutions provided by firms strengthen their position.
Bargaining power of suppliers: The bargaining power of suppliers is low as there are many instrument component manufacturers supplying to gas chromatography firms.
Threat of new substitutes: The threat of substitutes is low as there is no direct substitute for gas chromatography available for separation, identification, and quantification of substances in a mixture.
Competitive rivalry: Competition is high among leading players to increase their market share by expanding geographical reach and launching innovative products.
The global gas chromatography market is expected to witness high growth. The global Gas Chromatography Market is estimated to be valued at US$ 3.29 Billion in 2023 and is expected to exhibit a CAGR of 7.1% over the forecast period 2023-2031.
North America holds the largest share of the gas chromatography market owing to presence of major players and development of innovative products. It is followed by Europe and Asia Pacific region. Asia Pacific is projected to grow at the fastest rate during the forecast period due to increasing R&D investment, rising food safety concerns, and growing oil and gas industry. China, India, and Japan are major revenue generators in this region.
Key players: Key players operating in the gas chromatography market are Agilent Technologies, Thermo Fisher Scientific, Shimadzu Corporation, PerkinElmer, and Merck KGaA. Agilent Technologies and Thermo Fisher Scientific together control over 60% of the global market share.
- Source: Coherent Market Insights, Public sources, Desk research
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