2D Chromatography Market worth $42.4 million by 2023

(IT-NEWSWIRE.COM, May 29, 2019 ) The global 2D chromatography market is projected to reach USD 42.4 million by 2023 from an estimated USD 29.6 million in 2018, at a CAGR of 7.5% during the forecast period (2018–2023). The key factors driving the growth of this market include R&D investments by pharma companies and government support, policies and initiatives to reduce environmental pollution, rising food safety concerns, and the growing petroleum industry.

By type, 2D gas chromatography to hold the largest share of the market in 2018

Based on type of product, the market is segmented into 2D gas chromatography and 2D liquid chromatography products. In 2018, the 2D gas chromatography segment is expected to account for the largest share of the global market. The large share of this segment is attributed to rapid growth in petroleum industry, rising environmental pollution, and food safety concerns.

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By application, the life science research segment to account for the largest share of the market in 2018

Based on application, the 2D chromatography market is segmented into life science research, environmental analysis, food and beverage testing, petrochemical and natural gas analysis, and other applications such as cosmetics and forensic studies. In 2018, the life science research segment is expected to account for the largest share of the global market. The large share of this segment can be primarily attributed to rising R&D spending by pharma and biopharma companies.

North America to dominate the market in 2018

In 2018, North America is expected to account for the largest share of the market, followed by Europe. Factors such as the increasing funding for R&D activities in pharmaceutical industries, growing oil and gas industry in the US, rising food safety concerns and government initiatives to improve laboratory infrastructure, and government investments for environmental protection in Canada are contributing to the large share of the market in North America.

The key players in the global market are Agilent Technologies (US), LECO (US), Waters (US), and Shimadzu (Japan). Other prominent players in the market are Restek (US), SepSolve Analytical (UK), Merck (Germany), Danaher (US), Bio-Rad Laboratories (US), and Thermo Fisher Scientific (US)

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2D Chromatography Market worth $42.4 million by 2023