Europe Solid Phase Extraction Market – Industry Trends and Forecast to 2030

Europe Solid Phase Extraction Market, By Type (SPE Cartridge, SPE Disk, Others), Application (Pharmaceuticals, Environmental, Food & Beverage Industry, Biological Fluids, Others) – Industry Trends and Forecast to 2030.

Europe Solid Phase Extraction Market Analysis and Size

The increase in the demand for biological fluid tests because of the growing health related issues and increase in the level of investments in academics and life sciences are the primary factors boosting the market's growth. There is an increasing demand for innovative products due to the growing number of contract research organizations (CROs) and the adoption of generic medicines. It has been witnessed that the SPE disk is widely used in solid-phase extraction for sample preparation.  

 Data Bridge Market Research analyses a growth rate in the solid phase extraction market in 2023-2030. The expected CAGR of the solid phase extraction market tends to be around 5.60% in the mentioned forecast period. The market was valued at USD 211.14 million in 2022 and will grow to USD 326.5 million by 2030. In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the market report curated by the Data Bridge Market Research team also includes in-depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework.

Europe Solid Phase Extraction Market Scope and Segmentation

Market Definition

Solid phase extraction is a technique used to prepare samples with compounds either suspended or dissolved in a liquid sample surface unit which is isolated from a mixture of substituted compounds by their physical or chemical properties. Analytical laboratories extensively use it to separate and extract particular compounds from an advanced mixture. It is a well-established technique applicable for bioanalytical tests in different industries such as healthcare, environmental, pharmaceutical, and food and drink industries.

Europe Solid Phase Extraction Market Dynamics

Drivers

• Growing Use of SPE in Various Industries

The increasing use of SPE in pharmaceutical and biotechnological industries is anticipated to provide huge opportunities for market growth. Its utilization in various methods for steroid separation, drug development, urine testing, and food testing, water testing is also estimated to surge the market growth. SPE technique is also used in numerous other biotechnological processes, which boosts the market's growth.

• Huge Growth in Generics Industry

Growing demand for drug development has led to an increase in the solid-phase extraction equipment market. The generics market is anticipated to account for more than 80% of the pharmaceutical market in the upcoming years, therefore surging the demand for SPE. For instance, as per Invest India (India), generic drugs make up 71% of the pharmaceutical industry in India. Additionally, Europe plans to launch policies that will considerably decrease barriers to launching cheaper biosimilars to enter the market. It has been observed that European countries such as Italy have more than 65% of their pharmaceutical products as generics. Thus, the generics industry greatly boosts the need for solid extraction techniques.

Opportunities

• Increasing Product Launches

There have been numerous product launches that are boosting the growth of the market. For instance, Thermo Fisher Scientific Inc. launched a fully automated SPE system for drinking water analysis named Thermo Scientific Dionex AutoTrace 280 PFAS SPE instrument in 2020. It will help prepare the sample for per-and poly-fluoroalkyl substances (PFAS) analysis in drinking water. Thus, this factor boosts the growth of the market.  

• Increasing Rate of Government Initiatives by Market Players

Different government initiatives to support many projects associated with SPE techniques drive growth for the region's market. For instance, Horizon 2020 was a government initiative led by the European Commission to support and fund pharma projects with about USD 115 billion. Additionally, the presence of major market players, such as Merck KGaA (Germany), Gilson Incorporated (U.K.), and Biotage AB (Sweden), in the region also is anticipated to contribute to market growth. Thus, this factor increases the market growth.

Restraints/Challenges

• Rising Government Policies and Regulations

Alterations in government policies and regulations for medical instruments manufacturing and shipment or exports are the major factors restraining market growth. Government policies for medical instruments and products change frequently. This surges the burden on the seller or manufacturer associated with tax and other duties to be paid, reducing the margin for the manufacturer and supplier both. Thus, this factor hinders market growth.

This solid phase extraction market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the solid phase extraction market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.

Europe Solid Phase Extraction Market Scope

The solid phase extraction market is segmented on the basis of type, and application. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

Type

• SPE Cartridge
• SPE Disk
• Others

Application

• Pharmaceuticals
• Environmental
• Food & Beverage Industry
• Biological Fluids
• Others

Solid Phase Extraction Market Regional Analysis/Insights

The solid phase extraction market is analyzed and market size insights and trends are provided by type and application as referenced above.

The major countries covered in the solid phase extraction market report are Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe.

The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Also, the presence and availability of Europe brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.   

Competitive Landscape and Europe Solid Phase Extraction Market Share Analysis

The solid phase extraction market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, Europe presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to solid phase extraction market

Key players operating in the solid phase extraction market include:

• Thermo Fisher Scientific Inc. (U.S.)
• Novo Nordisk A/S (Denmark)
• B.D. (U.S.).
• Agilent Technologies Inc. (U.S)
• PerkinElmer, Inc. (U.S.)
• Waters Corporation (U.S.)
• Merck KGaA (Germany)
• 3M (U.S.)
• JASCO (U.S.)
• Restek Corporation (U.S.)
• Orochem Technologies Inc (U.S.)
• FORTUNE Media I.P. Limited (U.S.)
• United Chemical Technologies (U.S.)