Chromatography Software Market size to exceed $822mn by 2028

Chromatography Software Market size is set to exceed USD 822 million by 2028, according to a new research report by Global Market Insights Inc.
 

Growing technological advancements pertaining to chromatography software are anticipated to promote the market growth. Surging competition among pharmaceutical and biotechnology companies to innovate novel medications is driving the adoption of technologically advanced chromatography data software.
 

Automated chromatography software is an important part of research and testing facilities as it supports chromatography and mass spectrometry (MS) operations and delivers efficiency, assurance, and compliance with one software platform. Thus, industry players are focused to introduce advanced chromatography software integrated with different technologies for delivering comprehensive compliance and data integrity. This technology comprises of electronic lab notebooks, laboratory information management systems, laboratory execution systems, etc.
 

Rise in applications of chromatography in various fields are expected to propel the market statistics

Increasing applications of chromatography in various fields is projected to augment the chromatography software market statistics. The rising applications in life sciences research and growing adoption of advanced technologies in the pharmaceutical companies are anticipated to upsurge the demand for chromatography software worldwide. For instance, the researchers employed chromatography techniques to understand the COVID-19 infection and develop a better medication for an effective coronavirus treatment. Such instances support the market to gain traction during the forecast period.
 

The surging applications of chromatography in numerous areas comprising the chemical & food industry, forensic science, and environmental testing among others are some factors that boost the market revenue. The automation of hyphenated chromatography techniques such as LC-MS, GC-MS, LC-NMR, etc. is further expected to fuel the chromatography software market size. The rise in the application of chromatography software for various purposes comprising analyzing samples for the presence of chemicals or trace elements, preparing large quantities of extremely pure materials, detecting the purity of mixture, and validation of drugs among others is expected to stimulate the product demand positively. Thus, rising applications of chromatography in various fields are expected to spur the market outlook.
 

The advent of novel integrated chromatography software is anticipated to spur the market outlook

Based on device type, the chromatography software market is segmented as standalone and integrated. The integrated segment is anticipated to grow at 8.2% CAGR from 2022 to 2028. This is attributed to the surging demand for chromatography techniques in various industries for delivering optimum scientific and operational outcomes. The chromatography software easily integrates to work together to cover the analytical workflow and enhance lab throughput & quality of results. It integrates productivity, usability, data integrity, and single user interface among others.
 

Several market players comprising Agilent Technologies are combining built-in tools to deliver time-saving processes in the analysis, interpretation, and reporting workflows. Further, factors such as automated calculations, speed data review, decrease in the time period of sample processing have led to the high adoption rate of integrated software solutions amongst diagnostic centers, biotechnology companies, research institutes, etc. Thus, the aforementioned factors are predicted to augment the segmental growth.
 

Browse key industry insights spread across 170 pages with 236 market data tables & 16 figures & charts from the report, “Chromatography Software Market Outlook By Device Type (Standalone, Integrated), By Deployment Mode (On-premise, Web-based, Cloud-based), By Application (Pharmaceutical Industry, Environmental Testing, Forensic Testing, Food & Beverage Industry), By End-use (Pharmaceutical and Biotechnology Companies, Academic and Research Institutes, Testing Facilities, Hospitals/Clinics), Industry Analysis Report, Regional Outlook, Application Potential, Competitive Market Share & Forecast, 2022– 2028” in detail along with the table of contents:
https://www.gminsights.com/industry-analysis/chromatography-software-market
 

Growing investment by the market players to develop novel cloud-based chromatography software is estimated to attract a large customer pool

Based on deployment mode, the chromatography software market is segmented as on-premises, web-based, and cloud-based.  The cloud-based segment is projected to reach over USD 273 million by 2028 growing at a CAGR of 8.8%. This high growth is attributed to advanced features offered by cloud-based chromatography data software such as flexibility, ability to collaborate with pre-existing mechanisms, improved security measures, and other factors. A massive shift in storage and sharing of clinical data coupled with the growing use of digital technologies at healthcare facilities including clinics and laboratories have facilitated the use of cloud-based chromatography data software. Similarly, the accelerated adoption of cloud-based software has shown notable capabilities to improve the pharmaceutical R&D activities. It offers a wide range of applications such as managing chromatographic data conveniently, reducing expenses, and further enhancing healthcare data security. Thus, the growing use of cloud-based systems is expected to fuel the business landscape.
 

Innovations in forensic science are expected to spur the market growth

Based on application, the market is segmented as pharmaceutical industry, environmental testing, forensic testing, food & beverage industry, and others. The forensic testing segment is anticipated to grow at 8.3% CAGR from 2022 to 2028. This is attributed to the rising innovations in forensic science, increasing efficiency of chromatography in forensic testing, and supportive government initiatives for achieving progress in research in forensic science among others. For instance, the National Institute of Justice (NIJ) entered into a collaboration with the National Science Foundation (NSF) and the National Institute of Standards and Technology (NIST) to develop new forensic techniques. Such initiatives are leading to innovation in forensic science, thereby surging the demand for novel chromatography software for efficient qualitative and quantitative analysis of crime related materials and biological samples.
 

Increasing use of chromatographic techniques in pharmaceutical and biotechnology companies is anticipated to fuel the market statistics

Based on end-use, the market is segmented as pharmaceutical and biotechnology companies, academic and research institutes, testing facilities, and hospitals/clinics. The pharmaceutical and biotechnology companies segment is anticipated to reach over USD 363 million by 2028. The increasing use of chromatographic techniques in pharmaceutical and biotechnology companies and technological advancements related to chromatography data software are the key variables driving the business growth. The chromatography data software is crucial in modern chromatography laboratories to automate the collection of data, reduce user errors, etc. In pharmaceutical and biotechnology companies, advanced chromatography data software ensures that laboratory workflows and practices meet the stringent regulatory requirements that surround data integrity. Owing to the adoption of such advanced devices, companies are able to increase throughput in many areas through a single data management platform.
 

Growing demand for advanced chromatography software is estimated to propel the business outlook

Germany chromatography software market exceeded USD 23 million in 2021. This is owing to the increasing adoption of lab automation, growing R&D activities for drug development, favorable government initiatives, etc. As per the German Association of Research-Based Pharmaceutical Companies, several pharmaceutical companies are engaged in operating laboratories to research active ingredients in the country.
 

In 2018, more than 100 billion was invested in activities associated with R&D in Germany. The substantial proportion of this funding was allotted to projects in universities, research institutions, and government research labs. Similarly, the demand for chromatography software in Germany is expected to upsurge in the coming years owing to the surging number of pharmaceutical companies along with the adoption of various strategies by market players including new product launches, collaborations, and acquisitions. Thus, with a focus of key players on business development in Germany, the region is predicted to hold significant revenue in the global market.
 

Companies are focusing on strategies and launch of innovative products to expand customer base

Some of the major players operating in the chromatography software market are Agilent Technologies, Waters Corporation, Bruker Corporation, Axel Semrau, Gilson Inc., and Shimadzu Corporation among others. For instance, in March 2020, Thermo Fisher Scientific Inc. announced the launch of Chromeleon 7.3 Chromatography Data System (CDS) software. This device is designed to deliver enhanced automation and better workflow support while tracking and tracing all data for regulatory compliance. This product launch strengthened the company’s product portfolio, thereby providing a competitive advantage.