Rockville, Aug. 16, 2023 (GLOBE NEWSWIRE) -- According to the latest report from Fact.MR, a provider of market research and competitive intelligence, the global solid phase extraction (SPE) market is projected to expand at 4.4% CAGR to reach US$ 11 billion by the end of 2033.
The technique of solid-phase extraction is 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 commonly used in analytical labs to separate and extract specific substances from complex mixtures. It enables more cost-effective particle extraction with less solvent and more accurate findings. SPE is a well-established technology that can be used for bioanalytical studies in a variety of industries, including pharmaceutical, healthcare, environmental, and food and beverage.
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Factors such as rising demand for pharmaceutical products and developments in analytical techniques are driving the growth of the solid phase extraction market. Factors such as rising environmental pollution have also expanded the use of SPE in water quality management industries.
Growing global concerns about environmental safety have generated high demand for efficient extraction techniques. This market has grown in size as extraction methods have advanced. An increasing number of pharmaceutical and agrochemical goods with high regulatory criteria, as well as rising consumer demand, are driving the expansion of the solid-phase extraction market.
| Report Attributes | Details |
| Forecast Period | 2023 - 2033 |
| Value Projection (2033) | US$ 11 Billion |
| Growth Rate (2023-2033) | 4.4% CAGR |
| No. of Pages | 170 pages |
| No. of Tables | 25 Tables |
| No. of Figures | 132 Figures |
Key Takeaways from Market Study
- The global solid phase extraction market stands at US$ 7 billion in 2023.
- Worldwide demand for solid phase extraction is projected to rise at a CAGR of 4.4% from 2023 to 2033.
- The global market is estimated to touch US$ 11 billion by the end of 2033.
- The market in North America is forecasted to advance at a CAGR of 5.5% from 2023 to 2033.
- SPE cartridges account for a leading share of the market in 2023.
- Sales of SPE disks are anticipated to rise at a CAGR of 6% during the forecast period.
“Increasing focus on environmental safety and regulations regarding pollutant monitoring and control has significantly contributed to the growth of the solid phase extraction market. Governments and industries worldwide are investing in advanced extraction techniques to meet stringent environmental standards,” says a Fact.MR analyst.
Key Companies Profiled in This Report
- Gilson
- Shimadzu
- Thermo Fisher
- 3M
- PreeKem
- Orochem Technologies Inc.
- United Chemical Technologies
- Restek Corporation
- ANPEL
- Avantor, Inc
Market Competition
The competitive landscape in the solid phase extraction market is characterized by a mix of established companies and smaller, specialized players. The market is relatively fragmented, with several companies offering a wide range of SPE products, including consumables, instruments, and related services.
Smaller and more specialized companies have gained prominence in niche applications and regional markets.
- Biotage introduced its Atlantic ReadyDisk SPE CDs in May 2019. This line's ready-to-use SPE discs reduce time by eliminating the need for disc holders to be cleansed.
- Phenomenex Inc. has introduced the Strata-X-Drug B Plus SPE product to enable the testing of drugs in urine for forensic and clinical drug testing purposes.
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More Valuable Insights on Offer
Fact.MR, in its new offering, presents an unbiased analysis of the solid phase extraction market with historical demand data for 2018 to 2022 and forecast statistics for 2023 to 2033.
The study divulges essential insights into the market based on type (SPE disks, SPE cartridges) and application (pharmaceutical industries, academic & research institutes, environmental, hospitals & clinics, food & beverages, biological fluids), across five major regions of the world (North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa).
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