The global GC market size is projected to reach USD 3.5 billion by 2025 from USD 2.8 billion in 2020, at a CAGR of 4.1% during the forecast period. The growth in this market is driven by high the growing adoption of GC-MS, rising crude & shale oil production, increasing importance of wastewater treatment, rising food safety concerns, and growing use of chromatography tests in the drug approval process. However, the high cost of GC equipment, geopolitical issues prevailing in some countries, and shortage of skilled professionals are expected to restrain the growth of this market during the forecast period.

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Key Market Players

The global GC market is well established owing to the dominance of prominent market players, such as Agilent Technologies, Inc. (US), Thermo Fisher Scientific, Inc.  (US), Shimadzu Corporation (Japan), PerkinElmer, Inc. (US), Restek Corporation (US), Dani Instruments S.P.A. (Italy), Chromatotec (France), Merck KGAA (Germany), Leco Corporation (US), Scion Instruments (US), Phenomenex (US), etc.

Agilent is the largest player in the GC market. A large part of the company’s revenue is generated from its Life Sciences and Applied Markets and Agilent CrossLab segments. The growth of the company is attributed to strategic mergers and acquisitions, strategic transactions, and improved R&D and capital expenditure. Agilent’s strategy to launch multiple products for effective and efficient chromatography studies has ensured its growth in this market. Expansions undertaken by Agilent to introduce new research and logistics bases in Asian countries are expected to further strengthen its position in this market. The company sells most of its products through a direct sales force. To complement the capabilities of this direct sales force, the company focuses on agreements with various channel partners across the globe, such as resellers, manufacturers’ representatives, and distributors. Furthermore, the company also conducts telesales and electronic commerce.

Shimadzu operates under five business segments—Analytical Instruments, Medical Systems, Aircraft Equipment, Industrial Machinery, and Testing and Measuring Instruments. Around 65% of the company’s revenue is generated from its Analytical and Measuring Instruments segments. The company dominates the markets in Asian countries and developing countries in Europe. It is competing in the highly competitive analytical instruments market primarily based on the ease of use, software compatibility, and the cost-efficiency of its products.

ThermoFisher operates under four segments: Life Sciences Solutions, Analytical Instruments, Specialty Diagnostics, and Laboratory Products and Services. ThermoFisher is involved in acquiring other life science companies to further strengthen its market position. Similar to Shimadzu, the company is also growing in developing Asian countries like Beijing, Shanghai, India, Singapore, and South Korea to expand its customer reach. The company provides a wide array of chromatography and spectrometry products. ThermoFisher aims to restructure investment cost in its business segments, of which 30% is said to be allocated to Analytical Instruments. It is the second largest investment after the laboratory products and service segment (35%). This, in turn, allows ThermoFisher to develop advanced chromatographic systems to further improve its market share in the future.

Other players operating in the GCmarket adopted the strategy of collaborations, contracts, agreements, partnerships, alliances, acquisitions, expansions, product launches, grants, accreditations, patents, and licensing to increase their customer base across geographies and establish a strong foothold in the market.

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Other players include GL Sciences(Japan), OI Analytical (US), Valco Company Instruments Inc. (US), Centurion Scientific (India), SRI Instruments (US), Skyray Instruments(US), E ChromTech Co. Ltd.(Taiwan), Trajan Scientific (Australia), and Falcon Analytical (US).

North America will dominate the GC market during the forecast period.

North America is expected to account for the largest share of the global GC market. Market growth in this region is driven primarily by the increase in R&D funding, cannabis research, market for shale oil and gas, and food and agricultural industry. On the other hand, Asia Pacific is projected to have the highest growth rate during the forecast period. The high growth rate of the region can be attributed to factors such as extensive sales generics in Japan and the development in the pharma and biotech sectors in India and China.

Recent Developments:

  • Agilent launched the 990 Micro GC System.  The system is designed to monitor calorific valuation and odorant levels in natural gas.  It is a compact and rugged system that may be used in laboratories
  • The University of Duisburg Essen collaborated with Agilent to utilize its gas and liquid chromatography systems and a variety of its mass spectrometry instruments to conduct improved research studies.
  • PerkinElmer acquired Shanghai Spectrum Instruments Co., Ltd. This acquisition will allow PerkinElmer to expand its customer base for analytical instruments in China.

Critical questions answered in the report:

  • How will the current technological developments affect the GC market in the long term?
  • What are the reasons contributing to the growth of the various segments in the GC market?
  • Which regions are likely to grow at the highest CAGR?
  • What are the challenges hindering the adoption of GC solutions?
  • What are the growth strategies being implemented by major market players?

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