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Gas Chromatography Market Size 2025 Latest Insights, Growth Rate, Future Trends, and Business Opportunities

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Gas Chromatography Market Size 2025 Latest Insights, Growth Rate, Future Trends, and Business Opportunities

May 10
00:00 2023
Gas Chromatography Market Size 2025 Latest Insights, Growth Rate, Future Trends, and Business Opportunities
Gas Chromatography Market worth $3.5 billion by 2025
The global gas chromatography market in terms of revenue was estimated to be worth $2.8 billion in 2020 and is poised to reach $3.5 billion by 2025, growing at a CAGR of 4.1% from 2020 to 2025

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.

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