(Entertainment-NewsWire.com, February 01, 2019 ) According to the new market research "Reaction Monitoring Market by Technology (Spectroscopy (MS, IR, UV, NMR, Raman), Chromatography (GC, LC), Calorimetry, Titrimetry, XRD), Mode (Quantitative, Qualitative), End User (Research, Pharma-Biotech, Food & Beverages Co) - Global Forecasts to 2022", published by MarketsandMarkets™, analyzes and studies the major market drivers, restraints/challenges, and opportunities in North America, Europe, Asia-Pacific, and the Rest of the world (RoW).
The global reaction monitoring market is projected to reach USD 1.52 Billion by 2022 from USD 1.15 Billion in 2017, at a CAGR of 5.7%. The report analyzes and studies the major drivers, restraints, opportunities, and challenges of the reaction monitoring market in North America, Europe, Asia Pacific, and the Rest of the World (RoW). Factors such as stringent regulatory guidelines in the pharmaceutical & biotechnology industry; expansion of the food and beverages industry; and Increasing public-private investments in life science research are driving the reaction monitoring market. However, high product costs associated with analytical instruments is the major factor restraining the market growth to a certain extent.
Report broadly segments the reaction monitoring market into technology, reaction mode, and end user. Based on technology, the market is categorized into spectroscopy, chromatography, X-ray diffraction, calorimetry, and titrimetry. In 2017, the spectroscopy segment is expected to account for the largest share of the market. The large share of this segment can be attributed to the widespread use of spectroscopic techniques, increasing drug development pipelines, and stringent regulatory compliance for drug manufacturing & food processing protocols.
Based on reaction mode, the market is segmented into qualitative reaction mode and quantitative reaction mode. The quantitative reaction mode segment is estimated to command the largest share of the global market in 2017. The large share of this segment is mainly due to factors such as ongoing technological advancements in the field of analytical techniques (such as real-time quantification, device miniaturization, and process automation) and ongoing expansion and modernization of the pharmaceutical & biotechnology and food processing industries.
On the basis of end user, the market is segmented pharmaceutical, biopharmaceutical, and biotechnology companies, life science and genomic research facilities, food and beverage industry, pollution monitoring and control industry, and other end users. The pharmaceutical, biopharmaceutical, and biotechnology companies segment is projected to register the fastest rate during the forecast period. This can be attributed to the stringent regulations for pharmaceutical drug development and manufacturing (such as cGMP, cGLP, and EXCiPACT certification) and increasing usage of analytical techniques during quality assessment during drug manufacturing.
The report covers the reaction monitoring market across four major geographies, namely, North America, Europe, Asia Pacific, and the Rest of the World (RoW). North America is expected to command the largest share of the market in 2017 due to the availability of private-public funding & investments for life science research, stringent regulatory framework for drug development & commercialization, effective implementation & industrial compliance with food safety regulations, rising adoption of technologically advanced pollution monitoring & control products, and growing number of clinical researches in this region.
However, Asia Pacific is expected to register the highest growth rate during the forecast period. Government investments to strengthen food processing & biomedical industry in China & India; rising public emphasis on effective pollution monitoring & control (especially air pollution, water pollution, and biohazard monitoring & control); and increasing public-private funding, investments, & grants for various research activities are some of the major factors driving the growth of the Asia Pacific market.
Geographically, the reaction monitoring market is segmented into North America, Europe, Asia Pacific, and the Rest of the World. North America is expected to account for the largest share of the global reaction monitoring market in 2017. The growth of this region is attributed to the availability of private-public funding & investments for life science research, stringent regulatory framework for drug development & commercialization, effective implementation & industrial compliance with food safety regulations, rising adoption of technologically advanced pollution monitoring & control products, and growing number of clinical researches in this region.
The major players in the market are Agilent (US), Danaher (US), PerkinElmer (US), Shimadzu (Japan), Thermo Fisher Scientific (US), Bio-Rad Laboratories (US), Bruker (US), Waters (US), Hitachi High-Technologies (Japan), Merck (Germany), ABB (Switzerland), Mettler-Toledo International (US), and HORIBA (Japan).
