The global GC market size is projected to reach USD 3.5 billion by 2025 from USD 2.8 billion in 2020, at a CAGR of 4.1% during the forecast period. The growth in this market is driven by high the growing adoption of GC-MS, rising crude & shale oil production, increasing importance of wastewater treatment, rising food safety concerns, and growing use of chromatography tests in the drug approval process. However, the high cost of GC equipment, geopolitical issues prevailing in some countries, and shortage of skilled professionals are expected to restrain the growth of this market during the forecast period.
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Key Market Players
The global GC market is well established owing to the dominance of prominent market players, such as Agilent Technologies, Inc. (US), Thermo Fisher Scientific, Inc. (US), Shimadzu Corporation (Japan), PerkinElmer, Inc. (US), Restek Corporation (US), Dani Instruments S.P.A. (Italy), Chromatotec (France), Merck KGAA (Germany), Leco Corporation (US), Scion Instruments (US), Phenomenex (US), etc.
Agilent is the largest player in the GC 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 further strengthen its position in this market.
Shimadzu 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 Asian countries and developing countries in Europe.
ThermoFisher operates under four segments: Life Sciences Solutions, Analytical Instruments, Specialty Diagnostics, and Laboratory Products and Services. ThermoFisher is involved in acquiring other life science companies to further strengthen its market position. Similar to Shimadzu, the company is also growing in developing Asian countries like Beijing, Shanghai, India, Singapore, and South Korea to expand its customer reach. The company provides a wide array of chromatography and spectrometry products. ThermoFisher aims to restructure investment cost in its business segments, of which 30% is said to be allocated to Analytical Instruments. It is the second largest investment after the laboratory products and service segment (35%).
GC 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.
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North America will dominate the GC market during the forecast period.
North America is expected to account for the largest share of the global GC market. Market growth in this region is driven primarily by the increase in R&D funding, cannabis research, market for shale oil and gas, and food and agricultural industry. On the other hand, Asia Pacific is projected to have the highest growth rate during the forecast period. The high growth rate of the region can be attributed to factors such as extensive sales generics in Japan and the development in the pharma and biotech sectors in India and China.
𝐊𝐞𝐲 𝐑𝐞𝐩𝐨𝐫𝐭 𝐏𝐨𝐢𝐧𝐭𝐞𝐫𝐬 & 𝐇𝐢𝐠𝐡𝐥𝐢𝐠𝐡𝐭𝐬:
• In which appropriate, authenticated market size information and data in terms of value and volume with statistically validated analyses of historical, current, and projected industry trends.
• The industry’s primary and indirect influencing factors, as well as anticipated future industry-related rationales.
• Historical and Current Demand (Consumption) and Supply (Production) Scenarios as well as Projected Supply-Demand Scenario Analysis.
• A thorough list of important customers and consumers, broken down by regions and applications.
• Supply chain and value chain analysis, as well as scenarios for horizontal and vertical integration.
• Overview of the most important marketing tactics and sales channels used in the market.
• Analysis of the manufacturing and production cost structure, including labour cost, raw material costs, and other manufacturing expenses, where applicable.
𝐅𝐀𝐐:
➣ What is the projected market size & growth rate of the Gas Chromatography Market?
➣ What are the main driving forces behind the Gas Chromatography Market’s expansion?
➣ What are the leading companies present in the Gas Chromatography Market?
➣ Which market segments does the Gas Chromatography Market cover?
➣ During the forecast period, which region or sub-segment is anticipated to lead the market?
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