Bizizz Market Research has recently published a research report, “SPE Market by Type (SPE Cartridge SPE Disks), Application (Pharmaceuticals, Environmental, Food & Beverage Industry, Diagnostic Laboratories, Research Institutions), and Region-Global Industry Trends, Estimation & Forecast, 2019 – 2024”.
As per the report, Global SPE Market was valued at US$ XX Bn in 2018 and it is anticipated to reach at market value of US$ 512 Bn by 2024, witnessing a CAGR of 5.4 % during the forecast period. Continuous development of new drugs to augment the growth of the solid-phase extraction market
Solid-phase extraction (SPE) is a sample preparation technique in which the compounds that are dissolved or suspended in a liquid mixture are separated from other compounds on the basis of their physical and chemical properties. It is a widely used technique in various fields such as healthcare, pharmaceuticals, food and beverages, and environmental sectors. Intensive use of this technique helps in expanding the market for medical, industrial, food & beverages and many more.
The ongoing demand for the development of new drugs and therapeutics is driving the growth of the Solid-phase extraction market. In recent years, there has been an upsurge in the use of technology helping the drug development process to become more refined, accurate, and less time consuming, which, in turn, has increased the demand for solid-phase extraction consumables. In addition, continuous growth in the demand for generic drug manufacturers and Contract Research Organizations boosts the expansion of the solid-phase extraction market.
The SPE market is anticipated to register a CAGR of over 5.4 % during the forecast period.
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By Application, Pharmaceuticals Segment Held a Prominent Share in Global SPE Market in 2018.
Solid-phase extraction is used in applications such as Pharmaceuticals, Environmental, Food & Beverage Industry, Diagnostic Labs and Research Institutions. Among them, pharmaceuticals dominate the market as solid-phase extraction is widely used in the development of new drugs. In addition, the use of this method in pharmaceuticals also helps in the accelerated preparation of samples with purification before the chromatographic analysis.
By Product, SPE Cartridge Segment of Global SPE Market Is Anticipated To Witness the Fastest CAGR during the Forecast Period
The Solid-phase extraction market is categorized on the basis of products and applications. The products are further bifurcated into SPE Cartridge and SPE Disks. Among them, The SPE cartridge segment is expected to hold a significant share and expected to grow at the fastest rate in the market owing to the relatively low cost of SPE cartridges. Additionally, these cartridges are also are widely used in laboratories as compared to SPE disks.
North Americais Anticipated to Dominate the Global SPE Market during the Forecast Period
North America holds a significant share in the global solid-phase extraction market. The U.S. contributes heavily to the growth of the North America solid-phase extraction market. The United States alone holds over 45 percent of the global pharmaceutical market. The U.S. is a pioneer and a booster for the global pharmaceutical industry in medical research and development. In addition, approximately 60 billion U.S. dollars are spent annually on pharmaceutical R&D purposes in the United States. However, Asia Pacific is expected to grow with the fastest CAGR in the global solid-phase extraction market over the forecast period owing to the rapidly developing pharmaceutical sector in this region. In addition, the growth of several CRO in China and India also propels the Asia Pacific solid-phase extraction market.
Global SPE market was highly fragmented among the number of local and global players.Prominent players operating in the Global SPE Market are: Thermo Fisher Scientific, Agilent Technologies, Merck & Co., Waters Corporation, GE Whatman, Avantor Performance Materials, PerkinElmer, 3M Company, W. R. Grace & Co and UCT among others.
Impact of COVID-19 on Economy, Industry and Company
The emergence of novel coronavirus has affected the global economy, industry dynamics and company’s top line. The entire ecosystem has to suffer the impact of this pandemic disease which would result in demand & supply gap, production delay and weak consumer demand of end products across industries.
At Bizizz Market Research, our analyst has done extensive research across industries and identified various methodologies which would assist C-Level executives to counter this ongoing threat and make informed business decisions.
Areas at which Bizizz Market Research would help decision makers are:
a) Insights on current demand & supply gap analysis
b) Impact on value chain and supply chain and strategies adopted to off set its impact
c) Impact on Industry / company revenue and predictive intelligence on forecast sales
d) In-depth analysis on market segmentation – both value and volume analysis
e) Market assessment, regional
and country attractiveness, competitive benchmarking
and entry strategy
f) Prioritizing strategies and
how it would impact company’s short to long-term business
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