Solid Phase Extraction Market

Market Overview

The global solid phase extraction market size was valued at USD 342.30 million in 2022. It is projected to reach USD 573.42 million by 2031, growing at a CAGR of 5.90% during the forecast period (2023-2031). 

Solid fraction extraction is a technique used to prepare samples with compounds suspended or dissolved in a liquid sample surface unit that is physically or chemically distinguished from a mixture of substituted compounds. Analytical laboratories commonly employ it to separate and extract particular compounds from complex mixtures. It permits highly economical particle extraction with reduced solvent consumption and precise results. It is a widely applicable technique for bioanalytical testing in numerous industries, including the pharmaceutical, healthcare, environmental, and food and beverage industries.

The significant factors influencing the growth of the solid phase extraction market are the rise in demand for biological fluid tests due to rising health-related issues and the increase in investments in academics and life sciences. In addition, the growth of generic drugs and contract research organizations (CROs), as well as the high investments associated with the automation sector and technological advancements in instrumentation, are the factors propelling the growth of the solid phase extraction market. In addition, the automation of solid phase extraction produces reproducible, dependable, and accurate results compared to other alternatives. It will act as a market driver and a growth rate buffer.

Highlights

• The SPE disk segment is the highest contributor to the market by type.
• The pharmaceutical industry segment is the highest contributor to the market by application.
• North America is the major revenue contributor by region.

Market Dynamics

Global Solid Phase Extraction Market Drivers:

Advances in Technology for Instruments

Numerous technological developments have been made in the solid phase extraction (SPE) market to fulfill the demands of the biotechnology and biopharmaceutical industries and the food and beverage, chemical, semiconductor, and environmental testing sectors. Devices that are automated, computerized and miniature have all been made possible by these developments. The convenience and use of SPE devices have improved thanks to these technological developments. Technological developments and increased automation are anticipated to fuel the market's expansion. For example, in May 2019, Biotage (Sweden) introduced the Atlantic ReadyDisk SPE disc product line, which includes ready-to-use SPE discs and saves time by removing the need to clean disc holders. The Strata-X-Drug B Plus SPE product for urine drug testing in forensic and clinical drug testing was introduced by Phenomenex Inc. (US) in May 2018.

Additionally, in March 2020, Thermo Fisher Scientific Inc. (US) introduced the Thermo Scientific Dionex AutoTrace 280 PFAS SPE instrument, a fully automated SPE system for drinking water analysis. The OttoTM SPEcialist Positive Pressure Manifold, which addresses a weakness of current SPE devices by improving the dependability and reproducibility of results, was introduced by Waters Corp (US) in January 2021. As a result, such product breakthroughs and launches are fueling market expansion.

Global Solid Phase Extraction Market Restraint:

High Instrument Cost

The primary factor limiting market expansion is the exorbitant cost of chromatography instruments. The approach is less accessible in underdeveloped markets due to the high price of the tools, which limits the usage of SPE in prospective segments. Due to the high cost, developing nations, regarded as the central growth regions, are changing away from automated instruments and toward more conventional, inexpensive methods, which could have made them potential buyers for this market. The low repeatability of experiment results and hefty costs impede market expansion. Additionally, because manufacturers frequently form relationships with distributors and retailers to raise the prices of their products, price variation for retail SPE devices like cartridges, discs, and other probes may further impede market expansion.

Global Solid Phase Extraction Market Opportunities:

Developing Countries' Expansion

Solid-phase extraction equipment can find enormous opportunities and potential markets in developing nations. Players in the solid phase extraction instruments market have a lot of potential due to the developing infrastructure and rising healthcare costs in these nations. Other aspects contributing to future growth potential in this market are these nations' expanding academic, biotechnology, and pharmaceutical sectors. Additionally, the high price of SPE goods limits the market's expansion. Launching new low-cost products will primarily fuel market expansion in underdeveloped nations.

Segmental Analysis

The global solid phase extraction market is segmented by type and application.

The global solid phase extraction market is bifurcated based on type into SPE disks, SPE cartridges, and Others.

The SPE disk segment is the highest contributor to the market and is estimated to grow at a CAGR of 6.60% during the forecast period. The SPE disc is one of the tools used in the solid phase extraction sector for sample preparation. For the preparation of huge volumes of samples, these discs are standard. These SPE discs are flat, often 1 mm or less thick, and 4 to 96 mm in diameter. The packing material adds weight that ranges from 60% to 90% of the SPE membrane's overall weight. The disk's modest length-to-diameter ratio enables faster extractions and higher flow rates than cartridges. For instance, when using 15 mm x 18 mm cartridge beds, 1 liter of clean water can flow through a 45 mm disc in around 20 minutes, although it may take one to two hours. The SPE disc can therefore be used to produce quick and effective outcomes.

The conventional solid phase extraction setup uses cartridges. Each analyte is separated using a distinct stationary phase in these cartridges, which come in a range of stationary phases. A tiny amount of sorbent, often less than a gram, is placed into the barrel of a medical syringe. Commercially, 10-gram cartridges are readily available. Furthermore, cartridges are becoming more effective due to product advancements. For instance, in February 2018, Waters Corp (US) introduced the new Oasis PRiME MCX Cartridges, which are twice as quick as the mixed-mode SPE devices and remove 99% phospholipids from the samples.

Based on application, the global solid phase extraction market is bifurcated into pharmaceutical industries, academic and research institutes, environmental, hospitals and clinics, and others.

The pharmaceutical industry segment is the highest contributor to the market and is estimated to grow at a CAGR of 6.00% during the forecast period. The pharmaceutical sector's rapid expansion and the widespread use of advanced technologies are the key drivers of the pharmaceutical industry segment's market growth. Pharmaceutical firms also heavily invest in R&D to develop new medicines and other products, propelling this market's expansion.

The widespread expansion of biotechnology research and development is mostly to blame for the market growth of the academic and research institute segment. Furthermore, research centers and educational institutions are concentrating on fluidization technology and its industrial applications. The market for these SPE products is growing globally as various Ph.D. students work in different particle technology domains. This sector's expansion is also fueled by increased research funding for academic and research institutions.

The demand for solutions to reduce analyte-matrix interferences, particularly in the case of volatile chemicals hitting at low concentrations in complex matrices, is expanding, linked to the increased emphasis on environmental hazard treatments and the market growth of this niche. Additionally, this market's growth is being boosted by new product introductions. For instance, Thermo Fisher Scientific Inc. (US) introduced a fully automated SPE system for drinking water analysis in March 2020 called the Thermo Scientific Dionex AutoTrace 280 PFAS SPE instrument. This system will aid sample preparation for per- and poly-fluoroalkyl (PFAS) analysis in drinking water.

Since solid phase extraction has seen an increase in use over the past few years, the hospitals and clinics category has the highest share. Extraction and concentration are required to measure analytes with low concentrations in plasma and urine. Analyte partitioning between a solid and a liquid vapor can be accomplished with the aid of SPE. Thus, there is an increasing need to assess insufficient quantities of compounds with high levels of competing compounds in blood, urine, and other biological samples. The demand for solid-phase extraction is expanding in hospitals due to the growing necessity to assess the low concentration of the component in blood and urine.

Regional Analysis

North America Dominates the Global Market

The global solid phase extraction market is bifurcated into four regions: North America, Europe, Asia-Pacific, and LAMEA. 

North America is the major revenue contributor and is expected to grow at a CAGR of 5.60% during the forecast period. The Americans hold the most significant market share in the global solid-phase extraction industry. This is primarily a result of its expanding usage across various industries, including pharmaceutical, biotechnology, agricultural, and others. Modern laboratories and development are widely available at pharmaceutical establishments in the U.S. The U.S. and Canada are powerful nations in terms of global market penetration and revenue generation. Major SPE market companies also have their headquarters in this area. Significant competitors like Thermo Fisher Scientific Inc. (US), PerkinElmer (US), and 3M (US) are propelling the growth of the local market through partnerships and product introductions.

Europe is expected to grow at a CAGR of 6.30% during the forecast period. Due to the region's advanced healthcare infrastructure, government initiatives, and rising R&D spending, Europe is also anticipated to represent a sizeable portion of the solid phase extraction market in 2020. Research institutions and biopharmaceutical businesses frequently use SPE products in the R&D of pharmaceuticals. The region's market is growing due to government initiatives to assist such projects.

Asia-Pacific, which includes nations like China, India, Japan, the Republic of Korea, Australia, and the rest of Asia-Pacific, is anticipated to develop at the highest CAGR in the market through the forecast period. The main factors contributing to this rise are the most recent advances in instrumentation, changing economic conditions, rising biotechnology investment, and pharmaceutical research organizations in Asia-Pacific developing nations. The primary constraint limiting growth in these price-sensitive economies is the high cost of these tools. Several other factors, including advancements in biomedical and medical research in Japan, strategic expansions by essential players in China, rising government initiatives, a booming pharmaceutical industry in India, and favorable regulatory environments in New Zealand and Australia, could also be cited as contributing to the growth.

The Middle East and Africa comprise fewer solid-phase extraction businesses due to technological limitations and low public acceptance. The high cost of equipment and technology also threatens the region's market development. Due to government attempts to promote technical breakthroughs and enhance the region's economic climate, the market is anticipated to expand in this area.

Recent Developments

• October 2022- Waters Corporation introduced Extraction+ Connected Device, a new software-controlled product for the Waters™ Andrew+™ Pipetting Robot that automates the preparation of biological, food, forensics, and environmental samples by solid phase extraction (SPE).
• December 2022- Fluid Management Systems (FMS), a leader in automated sample preparation systems, announced a co-marketing agreement with Agilent Technologies to create and market workflows for the testing and analysis of persistent organic pollutants (POPs), including PFAS, Dioxins, PCBs, and other emerging contaminants in environmental and food matrices.

Solid Phase Extraction Market Segmentation

By Type 

• SPE Disk
• SPE Cartridge

By Applications

• Pharmaceutical Industries
• Academic and Research Institutes
• Environmental
• Others

By Regions

• North America
• Europe
• Asia-Pacific
• LAMEA