Solid Phase Extraction Apparatus Market Size, Share, Growth, And Industry Analysis By Type (Large Volume Solid Phase Extraction Apparatus, Small Volume Solid Phase Extraction Apparatus, Others), Lovastatin (Mevacor & others), Pravastatin (Pravachol), Rosuvastatin (Crestor), Simvastatin (Zocor), Pitavastatin (Livalo)), By Application (Hospital & Clinical, Academia, Pharma) and Regional Forecast to 2031

Updated On: 22 April 2024

Solid Phase Extraction Apparatus Market Report Overview

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The global solid phase extraction apparatus market size was USD 360.75 million in 2021 and is projected to touch USD 622.80 million by 2031 at CAGR 5.61% during the forecast period.

The COVID-19 pandemic has been unprecedented and staggering, with the market experiencing higher-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden rise in CAGR is attributable to the market’s growth and demand returning to pre-pandemic levels.

Solid fraction extraction apparatus is a sample preparation technique in which compounds are suspended or dissolved in a liquid sample surface unit separated from a mixture of substituted compounds based on their physical or chemical properties. It is widely used in analytical laboratories to separate and extract specific compounds from a mixture. This allows for very economical particle extraction with less solvent and accurate results. It is an established technology that can be widely applied for bio analytical testing in many industries, including pharmaceutical, healthcare, and environmental and food and beverage industries.

The growth of this market is due to the increasing demand for SPE equipment in chemical and biological applications and the increasing number of conferences and symposia on solid phase extraction. Increasing use of SPE accessories, demands for high-throughput sample analysis and demand for LC-MS-MS techniques and liquid chromatography-mass spectrometry are some of the major factors driving the growth of the market. Solid-phase extraction techniques are used to prepare samples with chemicals suspended or dissolved in a liquid sample surface unit extracted from a mixture of substituted compounds based on their physical or chemical properties. It is often used in analytical laboratories to separate and extract certain substances from complex mixtures. This allows for more cost-effective particle extraction with less solvent and more accurate findings. SPE is an established technology that can be used for bio analytical research in many industries, including pharmaceutical, healthcare, environmental, and food and beverage industries.

COVID-19 Impact: COVID-19 Pandemic Improves R&D's Efforts Hence Increased Market Demand

The COVID-19 pandemic has disrupted R&D's activities and ongoing scientific experiments. In addition, R&D labs are operating at less than 50% of their normal capacity due to COVID-19 restrictions and supply chain disruptions. However, the pandemic has improved R&D's efforts to deal with COVID-19. A solid phase extraction device is used to prepare a sample before using the sample for quantification by various methods. The COVID-19 pandemic has had a positive impact on the global sample preparation market as research and development of vaccines aimed at preventing coronavirus has increased.

Latest Trends

"Increase the Use Of SPE To Accelerate Market Growth "

Increasing use of solid phase extraction apparatus, demand for high-throughput sample research needs, and LC-MS-MS methods and liquid chromatography-mass spectrometry are some of the key features driving the growth of the solid-phase extraction equipment market. The expansion of this market is largely due to the increasing use of solid phase extraction equipment in the pharmaceutical sector. Advances in instrument technology are driving the global solid phase extraction apparatus market growth. The solid phase extraction equipment industry has developed many technological advances to meet the demands of the biotechnology and biopharmaceutical industries, as well as the food and beverage, chemical, semiconductor and environmental testing industries. These advances made it possible to create automated, computerized and small devices. These technological advances have made SPE equipment more practical and easier to use. Increased automation and future technological advancements are expected to boost the growth of the pusher market.

Solid Phase Extraction Apparatus Market Segmentation

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• By Type Analysis

According to type, the market can be segmented into Large Volume Solid Phase Extraction Apparatus, Small Volume Solid Phase Extraction Apparatus, Others.

 Large Volume Solid Phase Extraction Apparatus is anticipated to be the leading segment.

• By Application Analysis

Based on application, the market can be divided into Hospital & Clinical, Academia, and Pharma. Hospital & Clinical will be the dominating segment.

Driving Factors

"Increasing demand for pharmaceuticals to drive the Market Growth"

The increasing use of SPE in the pharmaceutical and biotechnology industries is expected to create huge opportunities for market growth. Its use in various methods of steroid isolation, drug development, urinalysis and food testing, and water testing is also driving the growth of the market. SPE technology is also used in many other biotechnological processes, fueling market growth. Several technological developments have been made in the solid phase extraction market, which also meet the requirements of the biotechnology and biopharmaceutical industries for example, in the food and beverage, chemical, semiconductor and environmental testing industries. This development made it possible to build compact, automated and computerized devices. Thanks to technical improvements, SPE widgets are now easier to use and more practical. Increasing automation and technological advancement is expected to boost the market.

"Increasing Use of SPE In Various Industries to Fuel the Market Growth"

The growth of solid phase extraction market is fueled by factors such as increasing demand for pharmaceuticals and advancement in analytical techniques. Factors such as increasing environmental pollution have also expanded the use of SPE in areas of water quality management. Growing global concern for environmental safety has created a high demand for efficient mining techniques. This market grew with the development of mining methods. The number of pharmaceutical and agrochemical products with high regulatory criteria and increasing consumer demand are driving the expansion of the solid phase extraction apparatus market.

Restraining Factor

"Changing Government Policies and Regulations Regarding Manufacturing of Medical Devices To Restrict Market Growth"

Other factors restraining the growth of the market are changing government policies and regulations regarding manufacturing and transportation or export of medical devices. Government policies on medical devices and products vary from country to country. This increases taxes and other fees paid by sellers or producers, thus reducing the profits of producers and suppliers. Reduced demand due to high costs or ignorance increases the sales burden for companies in these markets.

Solid Phase Extraction Apparatus Market Regional Insights

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"North America to Dominate Due To Presence Of Big Players During Projection Period"

North America is the main source of revenue and is expected to show the highest market share during the forecast period. North America has the largest solid phase extraction apparatus market share in the market. This is mainly due to its increasing use in various fields including pharmaceuticals, biotechnology, in agriculture and other industries. American pharmaceutical companies have access to many modern laboratory and development facilities. U.S. and Canada are strong countries in terms of global market penetration and revenue generation. North America dominates the solid phase extraction apparatus market in terms of market share and revenue and will continue to thrive in its dominant position during the forecast period. This is due to the presence of big players and high disposable income in the region. The Latin American market is expected to grow significantly during the forecast period due to the growing food and beverage industry in Brazil and Mexico.

Key Industry Players

"Key Players Focus on Partnerships to Gain a Competitive Advantage "

Prominent market players are making collaborative efforts by partnering with other companies to stay ahead of the competition. Many companies are also investing in new product launches to expand their product portfolio. Mergers and acquisitions are also among the key strategies used by players to expand their product portfolios.

List of Market Players Profiled

• Reeko (China)
• Horizon (Ireland)
• Gilson (U.S.)
• LCTech (Germany)
• Thermo Scientific (U.S.)
• Beijing Titan (China)
• Lab Tech (China)
• Shimadzu (Japan)
• Tecan (Switzerland)
• Biotage (Sweden)
• Perkin Elmer (U.S.)

Report Coverage

This research profiles a report with extensive studies that take into description the firms that exist in the market affecting the forecasting period. With detailed studies done, it also offers a comprehensive analysis by inspecting the factors like segmentation, opportunities, industrial developments, trends, growth, size, share, and restraints. This analysis is subject to alteration if the key players and probable analysis of market dynamics change.