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Dec-2021

Global Ion Chromatography Market Research Report 2021

Global Ion Chromatography Market Size, Share, Trends, COVID-19 Impact & Growth Analysis Report – Segmented By Technology, Application & Region – Industry Forecast (2021 to 2026)

As per our research report, the size of the global ion chromatography market is forecasted to be growing at a CAGR of 7.02% from 2021 to 2026.

COVID-19 on the global ion chromatography market:

Due to the increase of the pandemic globally, several market problems have been generated in the world. For example, the economic crisis in various regions is accompanied by a shortage of medical goods and devices. Amid the COVID-19 crisis, the ion chromatography market was estimated with a value of nearly USD 2.31 billion in 2020. In the coming years, post-pandemic, the ion chromatography market is estimated to reach a revised size of USD 2.4 billion by 2026. Furthermore, the market is expected to recover with the lifting of travel bans and the normalization of the global trade market.

KEY MARKET DRIVERS:

The growth of the global ion chromatography market is primarily driven by the increasing use of ion-exchange chromatography techniques for the purification of biological substances, along with the growing demand for monoclonal antibodies. The improving awareness and adoption of these ion chromatography techniques have seen applications in the water sector and food &beverage sector. Ion chromatography is used to verify the content, ingredients, quality, or safety in the set sample, thus increasing the applications used in various industries.

Detection by electrochemical and spectrometric methods is being used for ion chromatography. Advancements in ion chromatography techniques have given rise to ion exchange resins, which are useful as carriers of various medicinal substances and in slow release. For example, Cholestyramine, a resin, is used to bind bile acid, which helps to reduce blood cholesterol levels. The use of this ion exchange in the medical field is increasing and contributes to the growth of the ion chromatography market in the years to come.

The government is becoming vigilant about the presence of counterfeit products in the market; hence many organizations such as ISO, US EPA, FDA, ASTM, and AOAC have established their standards for analysis using ion chromatography.

MAJOR RESTRAINTS:

Setting up a new ion chromatography system is a significant capital investment. This is a considerable challenge due to the lack of funds and necessary budget approvals for large capital expenditures. In addition, factors such as customization, which includes accessories that must be purchased with or sample management settings, significantly increase the overall cost. Nevertheless, new investors and companies looking for technological development still see this high cost.

Moreover, the lack of qualified personnel to operate the equipment, coupled with the factor mentioned above, is hampering the growth of the global ion chromatography market.

KEY MARKET INSIGHTS:

Based on the application in the ion chromatography market, the pharmaceutical industry is anticipated to dominate, owing to the massive investment in research and development over the years. For instance, the pharmaceutical sector has funded over $ 160 billion, according to a 2017 report published by the British Pharmaceutical Industry Association. This increasing rate of R&D spending will project the market to remain dominant over the forecast period.
Based on the technology, the ion pair chromatography segment is set to record market growth over a 5% compound annual rate in the years to come. The regional markets Canada, Japan, and the U.S, collectively will have a market size of approximately US $ 335 million in 2020 and will reach a projected size of US $ 481.8 million by the end of the analysis period. The APAC region will reach a market share of over USD 350 million by 2028, with China being the country with the fastest growth rate of 4.2%, followed by countries like Australia, India, and South Korea.
Based on the region, the regional market in the United States is estimated at USD 671 million in 2020. The market is mainly driven by the combined initiatives by various organizations like the ASTM (American Society for Testing and Materials), USEPA (the United States Environmental Protection Agency), AOAC (Association of Official Analytical Chemists), and the United States Pharmacopoeia (USP), which makes efforts to increase the awareness about the techniques as well as help set standards for the use of ion chromatography in the pharmaceutical industry. In addition, these organizations develop analytical methods for various ion chromatography applications.
Meanwhile, China is anticipated to reach a projected market size of US $ 543 million by 2027. Over the projected period, this regional market is set to increase with an annual compound rate of 4.15%.
Most of the ion chromatography instruments are manufactured by major global players. Market leaders with more research funding and a better distribution system have established their position in the market. In addition, Asia-Pacific is witnessing the emergence of a few minor players due to increased awareness. It has also contributed to the growth of the market.
Agilent Technologies, Tosoh Company, Becton, Dickinson & Company, Bio-Rad Laboratories Inc., MilliporeSigma, GE Healthcare, Phenomenex, Inc., Metrohm AG, Thermo Fisher Scientific, Inc., and Mitsubishi Chemical Corporation are some of the major players in the ion chromatography market that are revolutionizing the market with the launch of several new products.

MARKET SEGMENTATION:

By Technology: