Solid phase extraction disk has greatly reduced the usage of chlorinated solvent for the analysis of the organic compound along with increasing the accessibility in the market which increased the demand for the environmental usage.
According to the current analysis of Introspective Market Research, the global Solid Phase Extraction market was valued at USD 434.59 Billion in 2019 and is expected to reach USD 598.51 Billion by the year 2026, at a CAGR of 4.72%.
The major driving factors for the Solid Phase Extraction market size 2020 is expected to be USD 454.32 million due to the increasing demand from the government for the R&D investments. The United States is expected to have the largest share for the market making North-America the dominant region for the Solid Phase Extraction market. Increasing progression in instrumentation, emerging economic condition, rising advancement in bio-technology is also propelling the market growth in Asia-Pacific.
According to the analyst, the United States is the largest consumption market of Solid Phase Extraction (SPE), with a market share over 35%. South Korea is the fastest growth market in recent years with a growth rate at 5.02%. Thermo Fisher, one of the major industry players has cooperation with lots of downstream company. And in 2016 the sales of about 12 million Units will occupy 15% of the market share. The revenue generated by thermo fisher is expected to be USD 39 million.
The Global Solid Phase Extraction market is segmented by Type (Normal Phase SPE, and Reversed Phase SPE), by Application (Pharmaceutical, Academic, Environmental, Hospital & Clinic and Others). The market is further analyzed on the basis of regional analysis and divided into major regions like North-America, Latin America, Asia-Pacific, Europe and MEA.
Further Key Findings From The Report Suggest
- By the end of 2027, the Solid Phase Extraction market size is estimated to be at USD 627.64 million.
- Asia-Pacific has a higher CAGR but North-America is still expected to be the dominant region in the forecast period.
- The major driving factor for this region is the government and the life sciences investment in the research and development for the environmental growth.
- The United States and China are the major producer and consumer for the Solid Phase Extraction Market due to the manufacturing companies more interest and investment in it.
Key Participants include Thermo Fisher, PerkinElmer, 3M, Agilent, Gilson, Sigma-Aldrich, GL Sciences, Gerstel, Waters Corporation, Shimadzu, Tecan, Horizon, Beijing Titan, PreeKem and many others.
For this report, Introspective Market Research have segmented the Global Solid Phase Extraction markets market on the basis of Region:
Regional Outlook (Revenue in USD Billion; Volume in Units, 2019-2025)
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia-Pacific
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of MEA
- Latin America
- Rest of LATAM