Global Reaction Monitoring Market Forecast to 2032: Rising Public-private Investments in Life Science Research Drives Growth - ResearchAndMarkets.com
The strict regulatory standards in the pharmaceutical and biotechnology sectors, the development of the food and beverage sector, and rising public-private investments in life science research are factors contributing to the market growth.
The "Reaction Monitoring Market by Technology, by Mode, End User, and by Region - Global Forecast to 2032" report has been added to ResearchAndMarkets.com's offering.
The reaction monitoring market size is estimated to be USD 1,607.6 million in 2021 and is expected to witness a CAGR of 6.71% during the forecast period 2022-2032.
Companies Mentioned
- Thermo Fisher Scientific (US)
- Hitachi High-Technologies (Japan)
- Waters (US)
- Agilent Technologies (US)
- Danaher (US)
- PerkinElmer (US)
- Shimadzu (Japan)
- Bio-Rad Laboratories (US)
- Bruker (US)
- Merck (Germany)
The strict regulatory standards in the pharmaceutical and biotechnology sectors, the development of the food and beverage sector, and rising public-private investments in life science research are factors contributing to the market growth. However, increasing cost of instruments and lack of skilled professionals is expected to hinder the growth.
Segmentation
By Technology
Based on technology, the market is categorized into chromatography, spectroscopy, titrimetry, calorimetry, and x-ray diffraction. In 2021, the spectroscopy accounted for the highest revenue share due to the extensive use of spectroscopic methods, the expansion of drug development pipelines, and the strict adherence to food safety and medication production regulations.
By Mode
On the basis of mode, the market is categorized into quantitative and qualitative. In the global market, the quantitative segment accounted for the largest revenue share in 2021 owing to the continuous modernization and expansion of the pharmaceutical and biotechnology and food processing sectors, and technological developments in the area of analytical procedures.
By End User
Based on end user, the market is segmented into pollution monitoring & control industry, pharmaceutical-biotechnology companies, food & beverages industry, and life science & genomic research facilities. In 2021, the pharmaceutical-biotechnology companies segment accounted for the largest revenue share owing to strict rules for pharmaceutical medication development and manufacture and the growing use of analytical techniques during quality evaluation.
Regional Markets
In 2021, North America region accounted for the highest revenue in the reaction monitoring market and is expected to maintain its dominance during the forecast period. This is attributed to the accessibility of private-public funding & investments for life science research, the strict regulatory framework for drug development & commercialization, the efficient execution & industrial conformance with food safety regulations, the increased adoption of technically advanced pollution monitoring & control products, and the increasing number of clinical researches in this region.
However, during the projected period, Asia Pacific is anticipated to develop at the fastest rate. Some of the key factors influencing the growth of the Asia Pacific market include increased public-private funding, investments, and grants for various research initiatives, and government investments to support the food processing and biomedical industries in China and India.
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