“The reaction monitoring market projected to grow at a CAGR of 5.7%.”
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%. Factors such as stringent regulatory guidelines in the pharmaceutical & biotechnology industry, expansion of the food and beverages industry, and launch of innovative products are factors driving the growth of this marketare driving the reaction monitoring market. However, the high cost of analytical instruments is the major factor restraining the market growth to a certain extent.
“The spectroscopy segment is expected to grow at the highest rate during the forecast period.”
The spectroscopy market is expected to grow at the highest CAGR during the forecast period. The increasing use of spectroscopy drug development pipelines, stringent regulatory compliance for drug manufacturing & food processing protocols are expected to support the growth of this market during the forecast period.
“The pharmaceutical, biopharmaceutical, and biotechnology companies segment is expected to grow at the highest CAGR.”
Based on end user, the reaction monitoring market has been categorized into the following segments: pharmaceutical, biopharmaceutical, and biotechnology companies, life science and genomic research facilities, food and beverage industry, pollution monitoring and control industry, and other end users. Amongst these, the pharmaceutical, biopharmaceutical, and biotechnology companies segment is expected to register the highest CAGR during the forecast period owing to factors such as 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.
“Quantitative reaction mode segment is expected to be the fastest-growing segment.”
On the basis of reaction mode, the market is segmented into qualitative reaction mode and quantitative reaction mode. The quantitative reaction mode segment is expected to grow at the highest rate during the forecast period. This can be attributed to the ongoing technological advancements in the field of analytical techniques (such as real-time quantification, device miniaturization, and process automation), ongoing expansion and modernization of the pharmaceutical & biotechnology and food processing industries.
“Asia Pacific is expected to register the highest growth rate in the reaction monitoring market.”
Geographically, the reaction monitoring market is segmented into North America, Europe, Asia Pacific, and the RoW. The Asia Pacific market is expected to register the highest growth rate during the forecast period. The strong growth potential, key industry players are expanding their geographic presence in emerging APAC countries (such as China, India, South Korea, and Taiwan) to position in the reaction monitoring market are some of the major factors driving the growth of the Asia Pacific reaction monitoring market.
Breakdown of supply-side primary interviews:
• By Company Type - Tier 1 – 45%, Tier 2 – 34% and Tier 3 – 21%
• By Designation - C-level – 10%, Director level – 14%, Others – 76%
• By Region - North America - 40%, Europe – 32%, APAC – 20%, RoW – 8%
The major players in the market included are Thermo Fisher Scientific (US), Waters (US), Agilent Technologies (US), Danaher (US), ABB (Switzerland), and Merck (Germany).
This report studies the reaction monitoring market based on technology, end user, and reaction mode. The report also studies factors (such as drivers, restraints, opportunities, and challenges) affecting market growth. It analyzes opportunities and challenges in the market and provides details of the competitive landscape for market leaders. Furthermore, the report analyzes micromarkets with respect to their individual growth trends. The report forecasts the revenue of the market segments with respect to four main regions and respective countries.
Reasons to Buy the Report:
From an insight perspective, this research report has focused on various levels of analysis—industry trends, market share analysis of top players, and company profiles, which together comprise and discuss basic views on the competitive landscape, emerging segments of the reaction monitoring market, and high-growth regions and their drivers, restraints, challenges, and opportunities.
The report will enrich both established firms as well as new entrants/smaller firms to gauge the pulse of the market, which in turn will help firms garner greater market shares. Firms purchasing the report could use any one or a combination of the below-mentioned five strategies for strengthening their market shares.