The Global Solid Phase Extraction (SPE) Equipment Market Size Is Expected To Grow At A CAGR Of 5.5%.
Solid Phase Extraction (SPE) Equipment Market Overview:
Solid Phase Extraction (SPE) equipment is used to isolate and isolate compounds of interest from complex matrices. The device consists of a vessel where the sample is mixed with the extraction solvent and passed through a column, disc or well plate pre-coated with sorbent material. The material selectively binds the target compound, which is then eluted from the column, disc or plate and analyzed. SPE is a widely used sample preparation technique in the chemical, food and biological industries. It is commonly used to purify samples prior to analysis by chromatography or mass spectrometry. The solid phase extraction equipment market has witnessed various technological advancements to meet the needs of biotechnology and biopharmaceutical companies, food and beverage, chemical and semiconductor industries, and environmental testing. These advances have led to the development of miniaturized, automated and computerized equipment. These technological advancements have increased the convenience and ease of use of SPE equipment. Technological advancements and automation are expected to further increase in the future, thereby driving the growth of the solid phase extraction equipment market.
Solid Phase Extraction (SPE) Equipment market size, estimates and forecasts are provided in terms of sales volume (K units) and revenue (million USD), with historical and forecast data for the period 2017 to 2030, with 2022 being considered as the base year. This report segments the global Solid Phase Extraction (SPE) Equipment market in detail. Regional market sizes related to products by type, by application, and by player are also delivered. In estimating the size of the market, we took into account the impact of COVID-19 and the Russian-Ukraine war.
Major Market Segments Covered in Solid Phase Extraction (SPE) Equipment Industry Research:
Market Key Players:
Thermo Fisher Scientific, Avantor Performance Materials, Waters Corporation, Agilent Technologies, S*Pure Pte Ltd, Merck, Biotage, PerkinElmer, 3M, GL Sciences, Restek Corporation, Orochem Technologies, Tecan SP, ANPEL Laboratory Technologies, And Others.
- SPE Cartridges, SPE Disk, Well Plate,
- Chemical, Food, Biological, Others
The Americas accounted for the largest market share in 2020 and are expected to register a CAGR of 5.25% during the forecast period. This dominance can be attributed to the increase in biotech and pharmaceutical companies, increasing R&D capabilities, concentration of key market players, and availability of latest technologies and instruments for drug discovery research. Thermo Fisher Scientific (US), PerkinElmer Inc. (US), 3M (US), Gilson Incorporated (US), Agilent Technologies Inc. (US), Waters Corporation (US), Cytiva (US), Pall Corporation (US), Phenomenex Inc. (US) and Sigma-Aldrich (US) are some of the major companies operating in the region.
Europe offers huge growth potential for market players, which is helping to expand the solid phase extraction market in the coming years. Government initiatives to support such projects drive the growth of the market in this region. For example, Horizon 2020 is a government initiative of the European Commission to support and finance around $115 billion in pharmaceutical projects. Furthermore, presence in the region of key players such as Gilson Incorporated (UK), Merck KGaA (Germany), and Biotage AB (Sweden) is also expected to boost market growth.
Asia Pacific, including key countries such as China, India, Japan, Republic of Korea, and Australia, is expected to grow at the highest CAGR in the market and will continue to do so during the forecast period. The major factors contributing to this growth include recent advancements in instrumentation in developing countries of Asia Pacific, emerging economic conditions, increasing investments in biotechnology, and pharmaceutical research institutes. This growth can also be attributed to factors such as rising biomedical and medical research in Japan, strategic growth of key players in China, increasing government initiatives, thriving pharmaceutical industry in India, and favorable regulatory environment in New Zealand and Australia.
- North America
- Rest of North America
- Nordic Countries
- Benelux Union
- The Netherlands
- Rest of Europe
- South Korea
- Southeast Asia
- Rest of Southeast Asia
- Rest of Asia-Pacific
- The Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of the Middle East & Africa
- Latin America
- Rest of Latin America
Significant Market Dynamics:
Increase in demand for drug development has led to the growth of the solid phase extraction equipment market. The generic drug market is expected to account for more than 80% of the pharmaceutical market in the next few years, thereby increasing the demand for SPE. For example, according to Invest India (India), generics account for 71% of the Indian pharmaceutical industry. In addition, the European Union is planning policies to significantly reduce barriers to market entry for cheap biosimilars; as seen during the COVID-19 pandemic, this is done to reduce the likelihood of drug shortages. According to Statista (Germany), more than 65% of medicines in European countries such as Italy are generics.
Changing government policies and regulations regarding the manufacturing and transportation or export of medical devices are some of the other factors restraining the growth of the market. Government policies on medical devices and products vary from country to country. This increases the burden of taxes and other duties payable by sellers or manufacturers, thereby reducing the profits of manufacturers and suppliers. Reduced demand due to high costs or ignorance increases the burden on companies to sell in these markets.
The increasing use of SPE in the biotechnology and pharmaceutical industries and the rising R&D investments in these technologies are expected to provide enormous opportunities for market growth in the near future. Increasing use of various methods for drug development, steroid separation, urine testing, water testing, and food testing is also expected to increase the growth of the solid phase extraction equipment market. Increasing application of SPE technology in various other biotechnological processes is another factor contributing to market growth.
Solid Phase Extraction (SPE) Equipment Market report scope:
CAGR of 5.5% from 2022 to 2030.
SPE Cartridges, SPE Disk, Well Plate,
Chemical, Food, Biological, Others
Thermo Fisher Scientific, Avantor Performance Materials, Waters Corporation, Agilent Technologies, S*Pure Pte Ltd, Merck, Biotage, PerkinElmer, 3M, GL Sciences, Restek Corporation, Orochem Technologies, Tecan SP, ANPEL Laboratory Technologies
Regions and Countries Covered
- North America: (US, Canada, Mexico, Rest of North America)
- Europe(Germany, France, Italy, Spain, UK, Nordic Countries, Benelux Union, Rest of Europe)
- Asia-Pacific (Japan, China, India, Australia, South Korea, Southeast Asia, Rest of Asia-Pacific)
- The Middle East & Africa(Saudi Arabia, UAE, Egypt, South Africa, Rest of the Middle East & Africa)
- Latin America(Brazil, Argentina, Rest of Latin America)
- Rest Of the World
2017 to 2022
2023 to 2030
Key Takeaways from this Solid Phase Extraction (SPE) Equipment Report
- Estimate Solid Phase Extraction (SPE) Equipment market potential through analyzing growth rates (CAGR %), Volume (Units) and Value ($M) data given at country level - for product types, applications and by different industry verticals.
- Understand the supply chain in depth on the value growth at each step, in order to optimize value and bring effectiveness in your processes.
- Know the different dynamics affecting the market - challenges, key driving factors and opportunities.
- Get a quick viewpoint on the Solid Phase Extraction (SPE) Equipment market entropy - M&A's, deals, partnerships, product launches of all key companies for the historical 5 years.
- Estimate the supply-demand gaps, import-export data and regulatory landscape for more than top 20 countries worldwide for the market.
- Get complete insights on your competitor's performance - market shares, strategies, financial benchmarking, product benchmarking, SWOT and more.
- Study the sales and distribution channels over key geographies to improve top-line revenues.
Frequently Asked Questions-
What is the CAGR of Solid Phase Extraction (SPE) Equipment market?
The Solid Phase Extraction (SPE) Equipment Market is growing at a CAGR of 5.5% During Forecast Period.
What are the key types of Solid Phase Extraction (SPE) Equipment market?
SPE Cartridges, SPE Disk, Well Plate,
What are the key applications of Solid Phase Extraction (SPE) Equipment market?
Chemical, Food, Biological, Others
Who are the key players in Solid Phase Extraction (SPE) Equipment market?
Thermo Fisher Scientific, Avantor Performance Materials, Waters Corporation, Agilent Technologies, S*Pure Pte Ltd, Merck, Biotage, PerkinElmer, 3M, GL Sciences, Restek Corporation, Orochem Technologies, Tecan SP, ANPEL Laboratory Technologies, And others.