New York, Feb. 28, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Flow Chemistry Global Market Report 2023" - https://www.reportlinker.com/p06423997/?utm_source=GNW
, PDC Machines Inc., Parr Instrument Company, Lonza Group Ltd.
The global flow chemistry market grew from $1.86 billion in 2022 to $2.09 billion in 2023 at a compound annual growth rate (CAGR) of 12.3%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services, and affecting many markets across the globe. The flow chemistry market is expected to grow to $3.27 billion in 2027 at a CAGR of 11.9%.
The flow chemistry market consists of revenues earned by entities by providing batch reactors used in flow chemistry.Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers.
The value of goods in this market includes related services sold by the creators of the goods.
Flow chemistry helps chemists have better control and safety over reaction parameters and enhances reactivity.These are also used in the production of Tamoxifen and Artemisinin chemical agents.
Flow chemistry offer the possibility of using organometallic reagents with many benefits, including precise temperature control of potentially exothermic reactions and safe handling of highly reactive organometallic intermediates.
North America was the largest region in the flow chemistry market in 2022.North America is expected to be the fastest growing region in the forecast period.
The regions covered in the flow chemistry market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The main types of reactors in the flow chemistry market are microreactor systems, continuous stirred tank reactors (CSTR), plug flow reactors, and meso reactors.Microreactor systems are used to perform chemical transformations.
Microreactors use devices with sub-millimeter dimensions.Because of the high area-to-volume ratios, these systems are designed to take advantage of micro-flow phenomena, which improve mass and heat transfer properties.
It is further divided by technology into gas-based flow chemistry, photochemistry-based flow chemistry, and microwave irradiation-based flow chemistry. The various end-uses include pharmaceuticals, chemicals, academic and industrial research, and petrochemicals.
The increasing pharmaceutical industry is expected to propel the growth of the flow chemistry market going forward.The pharmaceutical industry manufactures drugs and medicines for various types of diseases.
Flow chemistry is used in the pharmaceutical industry for drug discovery, chemical process development, and manufacturing. For instance, according to a report by the Federation of Indian Chambers of Commerce & Industry (FICCI), an India-based non-governmental trade association and advocacy group, for the year 2021, the Indian pharma industry reached USD41.7 billion in 2020 and is expected to reach USD130 billion by 2030. Also, for the year 2020, pharmaceutical exports reached $20.7 billion, while imports totaled $2.31 billion. Therefore, the increasing pharma industry is expected to propel the growth of the flow chemistry market going forward.
The development of new procedures has emerged as a key trend gaining popularity in the flow chemistry market.Major companies operating in the flow chemistry sector are focused on developing new procedures to sustain their position in the market.
For instance, in September 2020, Faes Farma, a Spain-based pharma company, joined hands with Syrris Ltd., a UK-based company involved in research and development and manufacturer of flow chemistry products, to develop a Syrris-developed Flow Chemistry System based on a series of non-native enzyme-controlled reactions technology that helps to improve the flow chemistry process.
In March 2022, Biotage, a Sweden-based biotechnology research company, acquired ATDBio for an undisclosed amount.Through this acquisition, Biotage is expected to strengthen its position in DNA and RNA oligonucleotide synthesis and purification.
The acquisition will also enable ATDBio to expand Biotage’s platform solutions for DNA and RNA oligonucleotide synthesis and purification. ATDBio is a UK-based biotechnology research facility that designs and synthesizes complex oligonucleotides.
The countries covered in the flow chemistry market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
The flow chemistry market research report is one of a series of new reports that provides flow chemistry market statistics, including global market size, regional shares, competitors with a flow chemistry market share, detailed flow chemistry market segments, market trends and opportunities, and any further data you may need to thrive in the flow chemistry industry. This flow chemistry market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future state of the industry.
Read the full report: https://www.reportlinker.com/p06423997/?utm_source=GNW
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