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%.
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
What drives the market?
- Stringent Regulatory Guidelines in the Pharmaceutical & Biotechnology Industry
- Expansion of the Food and Beverage Industry
- Launch of Innovative Products
- Increasing Public-Private Investments in Life Science Research
- Increasing Government Support for Strengthening Pollution Monitoring and Control
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 market.
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- Reaction monitoring instrument manufacturers, suppliers, and distributors
- Chemical and analytical instrument manufacturers
- Software developers and distributors
- Third-party product suppliers and channel partners
- Pharma & biotech companies
- Clinical research and contract research organizations
- Academic institutions and research laboratories
- Environmental testing laboratories
- Food and beverage product manufacturers
- Hospitals and diagnostic centers
- Custom service laboratories
- Government and non-government organizations
- National and international regulatory authorities
This report broadly segments the reaction monitoring market into technology, reaction mode, and end user.
On the basis of 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.
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In 2017, North America is expected to account for the largest share of the reaction monitoring 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).