Solid Phase Extraction Market Poised to Witness a Significant Growth by 2023

 

Solid Phase Extraction Market Analysis

As per Market Research Future (MRFR) analysis, the global solid phase extraction market is expected to reach USD 474.73 million with a CAGR of 4.62% from 2017 to 2023 (forecast period). The report on global solid phase extraction offers the in-depth primary research and a thorough analysis of qualitative and quantitative aspects by various industry analysts and key opinion leaders in order to provide valuable insight into market demand and industry performance.

Solid phase extraction (SPE) is a commonly used sample preparation process for purifying drugs from biological fluids prior to high-performance liquid chromatography. SPE is usually performed manually. In some instances, cost-effectiveness and disposability make manually operated SPE cartridges, disks, and plates preferable to automated systems.

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In recent years, technological developments in instrumentation, government investment in academics and life sciences, and expansion in the generic pharmaceutical industry and contract research organizations (CROs) have contributed to the development of the global demand for solid phase extraction industries. 

Solid Phase Extraction Market Dynamics

Solid phase extraction (SPE) is a sample preparation process by which compounds dissolved or suspended in a liquid mixture are isolated from other compounds in the mixture as per their physical and chemical properties. Growth in generics and CROs due to rising demand for drug production has contributed to a rise in the market for the solid phase extraction industry.

Government investments have increased over the last few years in the academic and life science sectors, which are the critical source of revenue for the solid phase extraction instrument manufacturers, and have also contributed to the development of the overall market.

However, the rising cost of instruments and government policies and regulations is likely to hinder market growth over the forecast period. 

Solid Phase Extraction Market Segmentation

The global solid phase extraction market has been segmented into type and application.

Based on type, the global market for solid phase extraction has been divided into SPE disk and SPE cartridge. The segment for SPE cartridge is likely to register the highest CAGR of around 5.17% during the forecast period.

Based on application, the global market for solid phase extraction market is segmented into hospitals and clinics, pharmaceutical industries, and environmental care. 

Solid Phase Extraction Market Regional Analysis

Region-wise, the global solid phase extraction market is divided into the Americas, Europe, Asia Pacific, and the Middle East and Africa.

The Americas are expected to dominate the market for the global solid phase extractive industry. It is due to the growing use of solid phase extraction in various industries, such as pharmaceuticals, biotechnology, agriculture, and others. The Americas is forecast to hold a 39.9% share in the global market for the solid phase extraction industry

Europe has shown considerable market growth as a result of the increase in biomedical and medical research in Europe.

The Asia Pacific is estimated to be the fastest-growing region on the market. The latest developments in instrumentation, changing economic conditions, growing innovation in biotechnology, and pharmaceutical research organizations in developing countries in the Asia Pacific are factors driving the growth of the global demand for solid phase extraction.

The Middle East and Africa has the lowest market share due to their low disposable income. 

Solid Phase Extraction Market Key Players

The prominent participants in the global solid phase extraction industry market are Thermo Fisher Scientific Inc, PerkinElmer Inc, Gerstel GmbH & Co. KG, 3M, Gilson Incorporated, Merck KGaA, Agilent Technologies Inc., Biotage AB, Waters Corporation, GL Sciences Inc, and Tecan Trading AG.

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