Separation Systems for Commercial Biotechnology Market expected to reach US$ 19,227.8 Mn in 2023
According to a new market report published by Transparency Market Research “Separation Systems for Commercial Biotechnology Market – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2015 – 2023”, the separation systems for commercial biotechnology market was valued at US$ 10,665.5 Mn in 2014 and is projected to expand at a CAGR of 6.8% from 2015 to 2023 to reach US$ 19,227.8 Mn in 2023.
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Separation systems enable extraction, separation, and purification of a wide range of products and has wide applications in the biotechnology industry. This report studies the global separation systems for Commercial Biotechnology market based on various parameters such as product type, application, and the major geographic markets. Technological advancements would act as a high impact driver of the market. Separation systems such as flow cytometers, chromatography systems, microarray instruments, and membrane filters are likely to propel the market due to high technological developments.
Chromatography systems have gained widespread popularity with the introduction of novel technologies in chromatographic instruments and consumables. Technological advancements in fluorescent labeling and detection methods have offered significant advantage in data, quality, speed, and user safety for microarray based assays.
Liquid chromatography systems held the majority share of the market in 2014, followed by membrane filters. The others segment (biochips, lab-on-a-chip, etc.) has been identified as the fastest growing segment during the forecast period due to its application in point-of-care diagnostic applications as well as in drug discovery and development.
Based on application, the life sciences research and diagnostics segment accounted for over 42.0% share of the global separation systems for commercial biotechnology market in terms of revenue in 2014. Moreover, the segment is expected to gain market share and emerge as the fastest growing segment during the forecast period. Growth of the proteomics market has consequently driven the equipment and supplies market in life sciences research and diagnostics.
Europe was the largest market for separation systems for commercial biotechnology in 2014, accounting for around 29.3% share. The key factor driving the growth of the Separation systems market in Europe is the consistent efforts of various domiciled organizations for the development of chromatography. On the other hand, Asia Pacific is expected to gain significant market share during the forecast period due to high government support for research and in development of the biotechnology industry.
Danaher Corporation, Thermo Fisher Scientific, Inc., Waters Corporation, Becton, Dickinson and Company, GE Healthcare, and Merck KGaA are the major players operating in the global separation systems market.
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