The HPLC market is expected to witness significant growth opportunities in low-penetrated emerging economies. These economies, including China, India, ASEAN member countries, Brazil, and Mexico, offer attractive prospects due to increasing R&D funding, growth of the pharmaceutical industry, rising food demand, and technological advancements in HPLC. These countries have seen a surge in research institutes, testing laboratories, contract research organizations (CROs), contract development and manufacturing organizations (CDMOs), and pharmaceutical and biopharmaceutical companies, contributing to market growth. Moreover, the availability of public and private R&D funding and the focus on contract research in these regions are expected to further drive pharmaceutical and biotechnology research and propel the demand for HPLC products.
Emerging economies are undertaking strategic initiatives to support the growth of their pharmaceutical and biopharmaceutical markets. For instance, in 2022, India’s health ministry announced a policy to foster research and innovation in the pharmaceutical sector. The policy includes provisions for financial support to pharmaceutical companies engaged in research and development of new drugs. As a result, leading pharmaceutical companies in India are focused on expanding their research capabilities. Furthermore, the COVID-19 pandemic has presented opportunities for the Indian pharmaceutical sector to emerge as a second source of raw materials and finished products following China. The emphasis on pharmaceutical research in India is expected to drive the growth of the HPLC market in the country.
There has been significant investment in emerging countries from other markets. For instance, in October 2020, six generic drug makers, mostly Indian, namely, Dr. Reddy’s Laboratories (Hyderabad, India), Cadila Pharmaceuticals (Gujarat, India), Glenmark Pharmaceuticals (Mumbai, India), Torrent Pharmaceuticals (Ahmedabad, India), Hetero Drugs (Telangana, India), and Ackerman Pharma (State of Mexico, Mexico) signed a deal with the Mexican state of Hidalgo to set up a large pharmaceutical cluster for production and logistics.
Furthermore, developing countries like Malaysia, Singapore, Indonesia, Thailand, and Taiwan have established regulatory pathways for biosimilars, increasing access to biosimilars. Similarly, in June 2020, a Japanese-owned investment firm—New Frontier Capital Management (NCFM), invested USD 300 million in developing hospitals, medical infrastructure, medical systems, health tech, and health promotion in the Middle East and North Africa (MENA). Such investments focusing on R&D create demand for HPLC products in the region.
Emerging countries are focusing on developments in F&B as the population increasingly focuses on adopting healthier eating habits. Therefore, manufacturers are rapidly introducing healthier products that are low in sugar, high in protein, low in sodium, fat-free, or free from trans fats. As labeling food products is mandatory, laws and policies are put in the countries that lead to food analysis using HPLC products. Its capabilities cover analysis of food poisoning and spoilage organisms, harmful chemicals, and toxins using HPLC. Labeling is also important for analyzing sugars in beverages, as the concentration and relative ratio of different sugars in fruit juices are a marker for authenticity. In various countries, HPLC is used for analyzing nutrient content due to the developing food & beverage sector. For instance, in China, there is a growing demand for convenient, easy-to-cook foods, contributing to the popularity of processed and ready-to-cook products. As these products contain high levels of additives and preservatives, the country has developed the 2020 Food Safety National Standards Project Strategy to implement the most rigorous standards for food safety.
Additionally, the population of Colombia is increasingly focusing on adopting healthier eating habits. Therefore, manufacturers are rapidly introducing healthier products that are low in sugar, high in protein, low in sodium, fat-free, or free from trans fats. Healthy snack bars are becoming increasingly popular. Innovations in sweet and savory snacks have increased protein content, reduced chemicals, and fewer additives and trans fats. According to International Trade Administration, in Chile, in 2021, food & beverage processing represented 13.5% of the country’s exports. The food processing industry in Chile is the second largest economic export sector after mining. This drives the demand for HPLC products for nutrition analysis.
Thus, emerging economies are expected to create opportunities for the growth of the global market at a CAGR of 5.2% to reach $7.9 billion by 2030, according to Meticulous Research®.
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