Solid Phase Extraction Market to Grow at USD 474.73 Million Valuation by 2023 | Finds MRFR
Jun 18, 2019
Market Research Future predicts that the global solid phase extraction industry market is expected to exhibit a compound annual growth rate of 4.62% over forecast period of 2015-2023 and grow to a market valuation worth 474.73 million by 2023 end.
Pune, India - June 18, 2019 /MarketersMedia/ —
Solid Phase Extraction (SPE) is a sample preparation process in which a mixture suspended in a liquid. Based on the physical and chemical properties of the components in the mixture they get separated. This process finds great application in the purification of drugs from biological fluids. In most cases SPE is manually operated. The ease of disposition of SPE plates, disk, and cartridges are preferred over automated systems. But, the high performance of automated SPE technique delivers more effective results.
Technological advancements backing innovations in SPE technique for enhanced performance is gaining investment for research and development activities. Furthermore, growing number of generic pharmaceuticals and contract research organization (CRO) owing to the intensive research conducting on drug development are prompting the adoption of SPE technique. MRFR identified these factors to propel the global solid phase extraction market growth. However, the high cost of the instruments and stringent government policies act as market restraints.
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Key Players for Global Solid Phase Extraction Market
Waters Corporation,
Biotage AB,
Agilent Technologies Inc.,
Gilson Incorporated,
3M,
Gerstel GmbH & Co. KG,
GL Sciences Inc,
Tecan Trading AG,
Merck KGaA,
Thermo Fisher Scientific Inc, and
PerkinElmer Inc.
Industry Update
In May 2019, Biotage, one of the leading solutions and technology for analytical, medicinal and peptide chemistry global supplier announced the launch of Atlantic Ready Disk, an SPE disk that is pre-assembled into single-use holders for extracting semi-volatile organic compounds from aqueous samples.
Segments for Global Solid Phase Extraction Market
The segmental overview of the global solid phase extraction market offers a detailed market analysis that assists in preparing effective strategies to boost the market growth. The global solid phase extraction market study has been segmented into type and application.
On the basis of type, the global solid phase extraction market has been segmented into SPE cartridge and SPE disk.
On the basis of application, the global solid phase extraction market has been segmented into hospitals and clinics, pharmaceutical industries, and environmental care.
Regional Analysis for Global Solid Phase Extraction Market
The regional segmentation of the solid phase extraction market provides a compendious insight that allows a better understanding of the demographic progress of the market. By region, the solid phase extraction market study has been broadly segmented into North America, Latin America, Europe, Asia Pacific, and the Middle East Asia and Africa.
The increase in adoption of solid phase extraction process by companies like agriculture, biotechnology, pharmaceuticals, and others, is the major factor fueling the market growth in the North American region. MRFR forecasts, North and Latin America to secure the paramount position in the market in the near future, securing the market share of 39.9%. However, due to socio-economic backwardness and low disposable income in the Middle East Asia and African region, it is expected to hold the least market share. The European market is expected to grow at the highest rate due to the increase in biomedical and medical research in the region.
The Asia Pacific region owing to technical advancements that are backing the increase in the adoption of global solid phase extraction among different industries is anticipated to the important market driver for the forthcoming years. Other factors like emerging economic conditions and surge in pharmaceutical and biotechnological research and developmental activities are driving the market growth.
To Browse Complete Report visit https://www.marketresearchfuture.com/reports/solid-phase-extraction-market-7552
About Market Research Future:
At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Statistical Report, Continuous-Feed Research (CFR), and Market Research & Consulting Services.
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Website: https://www.marketresearchfuture.com/reports/solid-phase-extraction-market-7552
Source: MarketersMedia
Release ID: 525685
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