Solid Phase Extraction Market: Information by Type (SPE Disk, SPE Cartridge), by Application (Pharmaceutical Industries, Hospitals & Clinics, Environmental, Academic & Research Institutes), and Region (Americas, Europe, Asia-Pacific, and Middle East & Africa)—Forecast till 2030
ID: MRFR/HC/6083-CR | 132 Pages | Published By Kinjoll Dey on December 2021
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Solid Phase Extraction Market Forecast
The Solid Phase Extraction market is projected to reach USD 326.58 million by 2030 at CAGR 5.60% during the forecast period 2022-2030.
Market Overview:
The solid phase extraction equipment market has witnessed various technological advancements to meet the needs of biotechnology and biopharmaceutical companies, food and beverage, chemical, semiconductor industries, and environmental testing. These advancements have led to the development of miniaturized, automated, and computerized devices. These technological advancements have increased the convenience and ease of use of SPE devices. Technological advancements and automation are expected to increase further in the future boosting the growth of the solid phase extraction equipment market.The global solid phase extraction market is growing due to the increasing technological advancement in product features. There is a growing demand for innovative products due to increasing number of contract research organizations and increasing adoption of generic medicines. Additionally, increasing investments in life science sector is expected to boost market growth in near future. However, the lack of standardized regulations is hampering the growth of the solid phase extraction equipment market.
COVID-19 Analysis:
The COVID-19 pandemic has impacted the R&D sector as well as the ongoing clinical trials. For instance, according to McKinsey & Company (US), in the first quarter of 2020, over 50% of the companies had paused recruitment for clinical trials, and 75% of companies had paused the activation of sites for many clinical trials. Furthermore, R&D labs were working below 50% of their normal capacity due to the COVID-19 restrictions and supply chain disruptions. However, the pandemic has boosted R&D efforts in the direction of finding a cure for COVID-19. SPE is used for sample preparation before using the sample for quantification using different techniques such as HPLC, GC, and TLC. There are also several applications of SPE in the quantification of anti-viral drugs for COVID-19, which increases the demand for SPE products.
Market Dynamics:
Drivers
- Growth in generics industry
Increasing demand for drug development has led to an increase in the solid phase extraction equipment market. The generics market is expected to account for more than 80% of the pharmaceutical market in the coming years, hence increasing the demand for SPE. For instance, according to Invest India (India), generic drugs make up 71% of the pharmaceutical industry in India. Furthermore, the EU is planning to introduce policies that will reduce barriers to cheaper biosimilars to enter the market significantly; this is being done to reduce the chances of possible drug shortages, as seen during the COVID-19 pandemic. According to Statista (Germany), European countries such as Italy have over 65% of their pharmaceutical products as generics.
- Government investments in academics and life sciences
- Technological advancements in instrumentation
Restraints
- Government policies and regulations
Changing government policies and regulations for medical instruments manufacturing and shipment or exports are some other factors limiting market growth. Government policies for medical instruments and products change with every country. This increases the burden on the seller or manufacturer regarding tax and other duties which are to be paid, hence decreasing the margin for the manufacturer and supplier both. The less demand due to high cost or ignorance increases the burden on companies for selling in these markets.
Opportunities
- Increasing use of the solid phase extraction technique
The increasing use of SPE in biotechnological and pharmaceutical industries and increasing investments in R&D of these techniques are expected to provide large opportunities for market growth in near future. The increasing use of various methods, for drug developments, steroid separation, urine testing, water testing, and food testing, are also expected to increase solid phase extraction equipment market growth. The growing application of SPE technique in various other biotechnological processes is the another factor contributing to market growth.
Expansion in developing countriesGlobal Solid Phase Extraction Market Share (%), by Type, 2020
Source: MRFR AnalysisValue Chain Analysis
The global solid phase extraction market is growing steadily and is expected to continue growing at the same rate in the near future. This is due to the growing contribution of existing players to make the product available to the public and the rising utility of solid phase extraction processes. The value chain analysis for the solid phase extraction market comprises five major components that start with the research & product development followed by manufacturing the products, distribution, sales, and post-sales services.
Segment Overview
By Type
On the basis of type, the market is divided into SPE disk, SPE cartridge, and others. The SPE disk segment is expected to register a CAGR of 5.60% from 2022 to 2030.
- SPE Disk
The SPE disk is used in the solid phase extraction for sample preparation. The market growth for SPE discs is driven by the rapidly expanding pharmaceutical industry, increase in laboratory spending, and high adoption of superior technologies in emerging markets.
- SPE Cartridge
Cartridges are the traditional solid phase extraction configuration. These cartridges are available with a variety of stationary phases in which each analyte is separated according to different chemical properties. The barrel of a medical syringe is packed with a small amount of sorbent usually less than a gram. Cartridges with up to 10-gram capacity are commercially available. Furthermore, product innovations are making cartridges more efficient.
- Others
Other types of SPE instruments include columns and plates. SPE columns are prepacked SPE products with different types of resins and sorbents used for different applications of SPE. Furthermore, SPE plates are used with traditional SPE sorbents in a well format e.g., 96-well format (standard or deep well) for compound separation from liquids.
By Application
- Pharmaceutical Industries
The market growth of this segment is mainly influenced due to rapidly expanding pharmaceutical industry and high adoption of superior technologies. Furthermore, pharmaceutical companies are engaging in extensive R&D activities to innovate new drugs and other biological products, driving growth of this segment.
- Academic & Research Institutes
The segment is expected to witness significant growth due to extensive growth of R&D activities in biotechnology industry. Additionally, academic and research institutes are focused in areas of fluidization technology and its industrial applications. For instance, in 2020, the National Institutes of Health (NIH) was funded with USD 42 billion in the US for research purposes, a 7% increase compared to 2019.
- Environmental
The market growth of this segment is attributed to the growing stress on remedies for environmental hazards and increasing demand for strategies that minimize analyte-matrix interferences, especially in case of volatile compounds striking at low concentrations in complex matrices. Furthermore, product launches are also boosting growth of this segment. For instance, in March 2020, Thermo Fisher Scientific Inc. (US) launched a fully automated SPE system for drinking water analysis called the Thermo Scientific Dionex AutoTrace 280 PFAS SPE instrument, which will help in the sample preparation for per-and poly-fluoroalkyl substances (PFAS) analysis in drinking water.
- Hospitals & Clinics
In order to measure low concentrations of analytes in plasma and urine, it is necessary to extract and concentrate them. With the help of SPE, partitioning of analytes can be achieved between a solid and liquid vapor. Hence, there is a growing need to analyze very low concentrations of compounds that are present with large amounts of interfering substances in the blood, urine, and other biological samples. As there is a rising need to analyze the low concentration of the compound in blood and urine, the demand for solid phase extraction is increasing in hospitals.
- Others
Other applications for SPE include drug testing, and food & beverage industry. SPE is a common method used to study toxicology of drugs and test drugs for their safety and efficacy. Furthermore, SPE is also used in the food and beverage industry to inspect food and make sure that harmful chemicals and metals such as acrylamide, mercury etc. are not present.
Global Solid Phase Extraction Market Share (%), by Region, 2020
Source: MRFR AnalysisRegional Analysis
- Americas:
The Americas accounted for the largest market share in 2020 and is expected to exhibit a CAGR of 5.60% during the forecast period. This dominance can be attributed to an increase in biotechnology and pharmaceutical companies, increased R&D capabilities, concentration of the major market players, and availability of the most recent techniques and instruments for drug discovery research. Thermo Fisher Scientific (US), PerkinElmer Inc. (US), 3M (US), Gilson Incorporated (US), Agilent Technologies Inc. (US), Waters Corporation (US), Cytiva (US), Pall Corporation (US), Phenomenex Inc. (US), and Sigma-Aldrich (US), are some of the key companies operating in the region.
- Europe:
Europe offers considerable growth potential for market players, which can help with the expansion of the solid phase extraction market in the coming years. The government initiatives to support such projects drive growth for the region's market. For instance, the Horizon 2020 was a government initiative by the European Commission to support and fund pharma projects with around USD 115 billion. Furthermore, the presence of key players such as Gilson Incorporated (UK), Merck KGaA (Germany), and Biotage AB (Sweden), in the region also is also expected to contribute market growth.
- Asia-Pacific:
Asia-Pacific, with key countries such as China, India, Japan, the Republic of Korea, and Australia, is expected to grow at the highest CAGR in the market and would continue with this trend through the forecast period. The major factor attributing to this growth includes the latest progression in instrumentation, emerging economic conditions, increasing investment in biotechnology, and pharmaceutical research organizations in the developing countries of Asia-Pacific. The growth could also be credited to factors such as rising biomedical and medical research in Japan, strategic growths by key players in China, increasing government initiatives, booming pharmaceutical industry in India, and favorable regulatory scenario in New Zealand and Australia.
- Middle East & Africa
The Middle East and Africa holds a smaller market for the solid phase extraction industry due to technological insufficiencies and low awareness among target population. The high cost of instruments and technology also pose a threat to market development in the region. The market is expected to grow in this region due to government initiatives to bring in technological advancements and improving the economic conditions of the region.
Competitive Landscape
The global solid phase extraction market is distinguished by the presence of numerous global, regional, and local players catering to technological advancements in instrumentation, government investment in academics and life sciences, and growth in generics and CROs. The increasing use of the solid phase extraction technique is making the solid phase extraction market more lucrative. The major players have adopted a strategy of obtaining regulatory approval from government agencies for their products and signing contracts and agreements to broaden their reach and reduce operational costs. For instance, in June 2021, Cytiva acquired Intermountain Life Sciences, a manufacturer of high-purity water, buffers, and liquid cell culture media. Through the acquisition, Cytiva will use Intermountain’s manufacturing site in Logan, Utah, to rapidly boost its liquid cell culture production by millions of liters. In December 2018, Biotage AB acquired PhyNexus Inc., which specializes in the purification of biomolecules. It helps the company to strengthen its position in the lab-scale purification of biomolecules.
List of Key Companies Covered in this report:
- Thermo Fisher Scientific (US)
- PerkinElmer Inc. (US)
- 3M (US)
- Gilson Incorporated (US)
- Gerstel GmbH & Co. KG (Germany)
- Merck KGaA (Germany)
- Agilent Technologies (US)
- GL Sciences Inc. (Japan)
- Biotage AB (Sweden)
- Waters Corporation (US)
- Tecan Trading AG (Switzerland)
- Cytiva (US)
- Pall Corporation (US)
- Phenomenex Inc. (US)
- Sigma-Aldrich (US)
Recent DevelopmentsIn May 2020, Phenomenex Inc. (US) introduced Strata PFAS, a new novel type of solid phase extraction (SPE) cartridge for extracting per- and polyfluorinated substances (PFAS) from water.In June 2021, Cytiva (US) acquired Intermountain Life Sciences (US), a manufacturer of high-purity water, buffers, and liquid cell culture media. Through the acquisition, Cytiva will use Intermountain’s manufacturing site in Logan, Utah to rapidly boost its liquid cell culture production by millions of liters.In February 2019, Gilson (US) launched Gilson Connect, a cloud-connected platform that powers a product line of bluetooth-enabled, smart liquid handling devices designed to help scientists achieve verifiable science.
Report Overview:
The study covers the existing short-term and long-term market effects, helping decision-makers draft short-term and long-term plans for businesses by region. The report covers major regions in the Americas, Europe, Asia-Pacific, and the Middle East & Africa. The report analyzes market drivers, restraints, opportunities, challenges, Porter's Five Forces, Value Chain, and impact of COVID-19 on the market.
Scope of the Report & SegmentationGlobal Solid Phase Extraction Market, by Type
- SPE Disk
- SPE Cartridge
- Others
Global Solid Phase Extraction Market, by Application
- Pharmaceutical Industries
- Hospitals & Clinics
- Environmental
- Academic & Research Institutes
- Others
Global Solid phase extraction market, by Region
- Americas
- North America
- US
- Canada
- Latin America
- North America
- Europe
- Western Europe
- Germany
- France
- UK
- Italy
- Spain
- Rest of Western Europe
- Eastern Europe
- Western Europe
- Asia-Pacific
- Japan
- China
- India
- Australia
- South Korea
- Rest of Asia-Pacific
- Middle East & Africa
- Middle East
- Africa
Report Scope:
| Â Market Size | Â Â 2030: USD 326.58 million |
| Â Â CAGR | Â Â 5.60% |
| Â Â Base Year | Â Â 2021 |
| Â Â Forecast Period | Â Â 2022-2030 |
| Â Â Historical Data | Â 2020 |
| Â Â Forecast Units | Â Â Value (USD Million) |
| Â Â Report Coverage | Â Â Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Â Â Segments Covered | Â Â Type, Application, and Region |
| Â Â Geographies Covered | Â Â Americas, Europe, Asia-Pacific, and Middle East & Africa |
|   Key Vendors |   • Thermo Fisher Scientific Inc. (US) • PerkinElmer Inc. (US) • 3M (US) • Gilson Incorporated (US) • Gerstel GmbH & Co. KG (Germany) • Merck KGaA (Germany) • Agilent Technologies Inc. (US) • GL Sciences Inc. (Japan) • Biotage AB (US) • Waters Corporation (US) • Tecan Trading AG (Switzerland) • Cytiva (US) • Pall Corporation (US) • Phenomenex Inc. (US) • Sigma-Aldrich (US) |
|   Key Market Opportunities |   • Expansion in developing countries • Increasing use of the solid phase extraction technique |
|   Key Market Drivers |   • Technological advancements in instrumentation • Government investments in academics and life sciences • Growth in generics and CROs |
Frequently Asked Questions (FAQ) :
Solid phase extraction market is projected to grow at a 5.60% CAGR between 2020-2030.
Solid phase extraction market is predicted to touch USD 326.58 million by 2030.
The market of solid phase extraction is expected to grow more than USD 326.58 million million by the end of 2030. The projected growth rate is expected to be around 5.60 CAGR at the time of the forecast.
Key competitors in the solid phase extraction market include Kyowa Hakko Bio Co. Ltd. (Japan), Frutarom (Israel), Geneferm Biotechnology Co. Ltd. (Taiwan), Danisco A/S (U.S.), DSM (The Netherlands), Seebio Biotech (China), Viridis BioPharma (India), Gnosis SpA (Italy), NattoPharma (Norway), and Kappa Bioscience (Norway).
Specific strategies that industry players have incorporated to create a niche in the solid phase extraction market include product launches, collaborations, mergers, and partnerships.
The report is presented based on 2022-2030 as the period of forecast. Some of the regions that are available in this report include Europe, North America, Middle East & Africa, Asia Pacific, and South America. Most of these regions are analyzed in the report at a country level. Attractiveness analysis by application, by type, and others are benchmarked on the growth rate, size of the market, and future opportunities.
