US HPLC market is projected to grow at a significant CAGR during the forecast period (2020-2026). The HPLC test are gaining traction for the drug approvals that act as a one of the major factors that propels the market growth in the country. There are several research segments in the US that tend to invest in research in medical drugs, medical devices, and other healthcare sectors. The sectors that invest in healthcare and medical research include the healthcare companies, the federal government, academic & research institutes, non-research conducting grant-giving entities, state and local government. The increasing R&D by the pharmaceutical companies such as Pfizer Inc., AbbVie Inc., and other organizations coupled with the development of new drugs and increasing clinical trials in the country significantly drives the growth of the market.
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According to Research America in 2018, total US medical and health R&D spending was $194.2 billion. Which include around $129.5 billion in medical and health R&D investment by the industry. Academic and research institutions including colleges and universities, independent research institutes, and independent hospital medical research centers dedicated more than $15.7 billion of their funds (8.1%). Moreover, foundations invested $2.3 billion into medical and health R&D, state and local governments invested $2.1 billion, and voluntary health associations and professional societies invested $1.5 billion (overall, 3.1%). Therefore, the significant spending on medical and health R&D in the country further boosting the clinical research that further encourages the demand of HPLC tests in the country.
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US HPLC Market – Segmentation
By Product Type
- Consumables
- Instruments
- Accessories
By Application
- Diagnostics
- Clinical Research
- Forensics
- Others (Testing)
(This release has been published on OMR Industry Journal. OMR Industry Journal is not responsible for any content included in this release.)
