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The x-ray crystallography market size is expected to surge by USD 493.74 million from 2021 to 2026, and the market will accelerate at a CAGR of 11.76%.
The x-ray crystallography market research report extensively covers market segmentations by the following:
The x-ray crystallography market report also offers information on several market vendors, including Agilent Technologies Inc., Anton Paar GmbH, ARINAX SAS, Bruker Corp., Calibre Scientific Inc., Charles River Laboratories International Inc., Hitachi High Tech Corp., HUBER Diffraktionstechnik GmbH and Co. KG, Intertek Group Plc, MiTeGen LLC, Nippon Kayaku Co. Ltd., Olympus Corp., PerkinElmer Inc., Rigaku Corp., Shimadzu Corp., Spectris Plc, Tecan Group Ltd., Thermo Fisher Scientific Inc., and WuXi AppTec Co. Ltd. among others. One of he key highlights of this report is the insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches.
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Based on our research output, there has been a positive impact on the market growth during and post COVID-19 era. The growing investment in drug discovery is notably driving the x-ray crystallography market growth, although factors such as lack of trained laboratory professionals may impede market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the x-ray crystallography market industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.
Key X-ray Crystallography Market Driver
One of the key factors driving the global x-ray crystallography market growth is the growing investment in drug discovery. According to the Centers for Disease Control and Prevention (CDC), in the US alone, more than 1.7 million people were diagnosed with cancer in 2021, and this number will increase to 2 million by the end of 2022, which will boost the demand for new drugs. Key players are strengthening their product pipeline by developing advanced innovative drugs for therapeutic areas, such as immunology, cancer, and infectious diseases. They majorly spend approximately 65% of their revenue on discovery and early-stage product development. Therefore, with the growing emphasis on R&D procedures and the significant R&D investments, strong demand for X-ray crystallography has been observed, as the technique is essential for the synthesis of new drugs and medicines and aids in determining the structure of their precursors. This will drive the market growth in the forecast years.
Key X-ray Crystallography Market Trend
Outsourcing of the drug discovery process is one of the key x-ray crystallography market trends that is expected to impact the industry positively in the forecast period. Several small companies with less infrastructural costs have resorted to outsourcing their drug discovery process to CROs while restricting themselves to manufacturing and marketing activities. CROs have enabled these companies to focus more on innovation and marketing strategies. Pharmaceutical companies can outsource their drug discovery processes at a much lesser cost than their own manufacturing sites and invest the amount saved in other activities such as the market promotion of the drug. The trend has been adopted by countries such as the US, the UK, Germany, and Japan, where the process of drug discovery has been outsourced to sub-contract research organizations in emerging countries such as India and Brazil. Such factors will further support the market growth in the coming years.
Key X-ray Crystallography Market Challenge
One of the key challenges to the global x-ray crystallography market growth is the lack of trained laboratory professionals. The problems associated with finding and retaining skilled professionals are creating a gap in the industry, which is impacting the market growth. For instance, according to the data published by the Pharmaceutical Research and Manufacturers of America (PhRMA) in 2017, 60% of jobs in the US pharmaceutical companies will be vacant by 2025 due to the lack of effective education policies and growing competition from other countries. As the need for qualified laboratory personnel increases, the annual turnover rates for certain categories of personnel in the laboratory exceed 20%. The low compensation package is another reason for the high attrition rates, as the wage rate per hour for laboratory professionals is a lowly USD 15 per hour. All of these factors affect the growth of the market.
This x-ray crystallography market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2022-2026.
Technavio categorizes the global X-ray crystallography market as a part of the global healthcare equipment market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the x-ray crystallography market during the forecast period.
The report analyzes the market's competitive landscape and offers information on several market vendors, including:
This statistical study of the x-ray crystallography market encompasses successful business strategies deployed by the key vendors. The x-ray crystallography market is fragmented and the vendors are deploying growth strategies such as investment in R&D to compete in the market.
To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
The x-ray crystallography market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.
Our report provides extensive information on the value chain analysis for the x-ray crystallography market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.
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33% of the market's growth will originate from North America during the forecast period. The US is the key market for x-ray crystallography in North America. Market growth in this region will be faster than the growth of the market in Rest of World (ROW).
The presence of several pharmaceutical and biotechnology companies, such as Novartis and Pfizer that conduct research for developing drugs and creating vaccines, will facilitate the x-ray crystallography market growth in North America over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.
COVID Impact and Recovery Analysis
In 2020, the disruptions in supply chains for drugs and healthcare equipment due to the COVID-19 pandemic in European and Asian countries, such as India, resulted in fear of a shortage of supply of raw materials required to manufacture X-ray crystallography among importing countries, including the US. However, in 2021, The number of COVID-19 cases declined due to the initiation of large-scale vaccination drives. Moreover, as the pharmaceutical industry was brought under essential services, the demand for and supply of X-ray crystallography was not affected in North America. Owing to such factors, the regional market is expected to witness growth during the forecast period.
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The x-ray crystallography market share growth by the pharmaceutical segment will be significant during the forecast period. The significant increase in investments in pharmaceutical R&D will drive the market growth through his segment in the coming years.
This report provides an accurate prediction of the contribution of all the segments to the growth of the x-ray crystallography market size and actionable market insights on post COVID-19 impact on each segment.
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X-ray Crystallography Market Scope |
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Report Coverage |
Details |
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Page number |
120 |
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Base year |
2021 |
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Forecast period |
2022-2026 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 11.76% |
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Market growth 2022-2026 |
$ 493.74 million |
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Market structure |
Fragmented |
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YoY growth (%) |
11.25 |
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Regional analysis |
North America, Europe, Asia, and Rest of World (ROW) |
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Performing market contribution |
North America at 33% |
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Key consumer countries |
US, Germany, UK, China, and Japan |
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Competitive landscape |
Leading companies, Competitive strategies, Consumer engagement scope |
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Key companies profiled |
Agilent Technologies Inc., Anton Paar GmbH, ARINAX SAS, Bruker Corp., Calibre Scientific Inc., Charles River Laboratories International Inc., Hitachi High Tech Corp., HUBER Diffraktionstechnik GmbH and Co. KG, Intertek Group Plc, MiTeGen LLC, Nippon Kayaku Co. Ltd., Olympus Corp., PerkinElmer Inc., Rigaku Corp., Shimadzu Corp., Spectris Plc, Tecan Group Ltd., Thermo Fisher Scientific Inc., and WuXi AppTec Co. Ltd. |
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Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period |
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Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Five Forces Analysis
5 Market Segmentation by End-user
6 Customer Landscape
7 Geographic Landscape
8 Drivers, Challenges, and Trends
9 Vendor Landscape
10 Vendor Analysis
11 Appendix
Research Framework
Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.
INFORMATION SOURCES
Primary sources
Secondary sources
DATA ANALYSIS
Data Synthesis
Data Validation
REPORT WRITING
Qualitative
Quantitative
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