Solid Phase Extraction Market Share

Asia Pacific Market Forecast

Asia Pacific solid phase extraction market is expected to capture revenue share of over 46.8% by 2037. The swiftly expanding pharma and biotech sectors, increasing investments in healthcare innovations, economic changes, and sustainability goals are augmenting the demand for solid phase extraction systems. Supportive government policies are set to boost the sales of advanced solid phase extraction systems in China and India. Technological innovation strategies are further augmenting the market growth in Japan and South Korea.

In China, the rapid urban and industrial activities are directly augmenting the growth in the pharma, food & beverages, chemical, biotechnology, and healthcare sectors, which is subsequently increasing the adoption of solid phase extraction technologies. The sustainability goals and strict regulations on emissions are further driving the solid phase extraction market growth in China. For instance, the Information Technology and Innovation Foundation (ITIF) revealed that China accounted for 44.0% of global chemical production in 2022.

In India, an extensive network of universities and research institutions engaged in pharmaceutical, chemical, and environmental science are fueling the sales of solid phase extraction (SPE) market.  The rise in the chemical, pharma, and biotech industries in the country is also generating lucrative opportunities for solid phase extraction system manufacturers. The India Brand Equity Foundation (IBEF) report reveals that the country under the National Biopharma Mission is supporting over 101 projects. The India pharmaceutical industry is set to reach USD 130.0 billion by 2030 owing to the large number of FDA-approved plants in the country after the U.S.

North America Market Statistics

The North America solid phase extraction market is estimated to increase at the fastest CAGR throughout the projected period. The expanding research activities, strict environmental regulations, high investments in drug development, and integration of automated technologies are contributing to the market growth. The rising application of solid phase extraction technologies in food and safety testing is anticipated to create high-earning opportunities for key players in the U.S. and Canada.

In the U.S., strict environmental regulations are expected to augment the overall solid phase extraction market growth. High investments in water, air, and soil monitoring for containments and environmental justice moves are driving the sales of solid phase extraction systems. The Office of Enforcement and Compliance Assurance (OECA) and Regions conducted around 45% of yearly on-site inspections at facilities in communities with potential environmental justice concerns.

Canada’s pharma and biotech industries are expanding at a healthy pace, which is directly fueling the sales of solid phase extraction technologies. Canada is the 8^th largest market for pharmaceuticals and holds around 2.2% of the global solid phase extraction market share. The pharmaceutical sales are expanding at a high 6.4% CAGR since 2017 in the country, reveals the Innovation, Science, and Economic Development Canada. Research and development funding and supportive government policies are directly augmenting the solid phase extraction market growth.