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Ahold Delhaize reports firm Q2 results with higher two-year comparable sales growth rates**; raises full-year earnings and underlying operating margin guidance
- On a two-year comparable sales growth basis**, comparable sales excluding gas in the U.S. were up 19.1% and in Europe were up 12.6% in Q2 2021, a sequential acceleration versus growth in full year 2020 of 15.8% and 12.3%, respectively.
- Q2 Group net sales were €18.6 billion, up 3.0% at constant exchange rates, down 2.4% at actual exchange rates.
- In the U.S. and Europe, Q2 comparable sales excluding gas were (1.5)% and 2.4%, respectively.
- In Q2, net consumer online sales grew 35.8% at constant exchange rates, building on top of the significant 77.6% growth in Q2 2020.
- Q2 underlying operating margin was 4.5%; Q2 diluted underlying EPS was €0.53.
- Q2 IFRS-reported operating income was €817 million; Q2 IFRS-reported diluted EPS was €0.52.
- Raising 2021 underlying EPS and Group underlying operating margin outlook; expect underlying EPS to grow in the high-teen range versus 2019 and Group underlying operating margin to be approximately 4.3%.
- 2021 interim dividend is €0.43 compared to 2020 interim dividend of €0.50, based on the Group’s interim dividend policy of 40% payout of first half underlying income per share from continuing operations.
** Two-year comparable sales growth is a stack of the comparable sales growth excluding gasoline in the current year period added to the comparable sales growth excluding gasoline in the prior year period. This measure may be helpful to improve the understanding of trends in periods that are affected by variations in prior year growth rates.
Zaandam, the Netherlands, August 11, 2021 – Ahold Delhaize, one of the world’s largest food retail groups and a leader in both supermarkets and e-commerce, reports second quarter results today. The interim report for the second quarter and half year 2021 can be viewed and downloaded at www.aholddelhaize.com.
Summary of key financial data
| Ahold Delhaize Group | The United States | Europe | Ahold Delhaize Group | The United States | Europe | |||||||||||||||||||
| € million, except per share data |
Q2 2021 |
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Q2 2021 |
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| Net sales | 18,645 | 3.0 | % | 11,115 | 2.7 | % | 7,529 | 3.6 | % | 36,909 | 4.4 | % | 21,854 | 3.1 | % | 15,055 | 6.4 | % | ||||||
| Comparable sales growth excl. gas | — | % | (1.5) | % | 2.4 | % | 2.1 | % | — | % | 5.2 | % | ||||||||||||
| Online sales | 1,812 | 39.2 | % | 753 | 61.0 | % | 1,059 | 26.9 | % | 3,793 | 66.8 | % | 1,608 | 110.4 | % | 2,184 | 44.8 | % | ||||||
| Net consumer online sales | 2,447 | 35.8 | % | 753 | 61.0 | % | 1,693 | 27.0 | % | 5,126 | 64.3 | % | 1,608 | 110.4 | % | 3,517 | 49.4 | % | ||||||
| Operating income | 817 | (13.3) | % | 546 | (16.2) | % | 308 | (5.8) | % | 1,645 | (11.1) | % | 1,035 | (22.2) | % | 670 | 7.5 | % | ||||||
| Operating margin | 4.4 | % | (0.8) | pts | 4.9 | % | (1.1) | pts | 4.1 | % | (0.4) | pts | 4.5 | % | (0.8) | pts | 4.7 | % | (1.5) | pts | 4.5 | % | — | pts |
| Underlying operating income | 832 | (12.2) | % | 554 | (15.9) | % | 314 | (3.1) | % | 1,680 | (9.2) | % | 1,071 | (20.5) | % | 669 | 10.2 | % | ||||||
| Underlying operating margin | 4.5 | % | (0.8) | pts | 5.0 | % | (1.1) | pts | 4.2 | % | (0.3) | pts | 4.6 | % | (0.7) | pts | 4.9 | % | (1.5) | pts | 4.4 | % | 0.2 | pts |
| Diluted EPS | 0.52 | (13.9) | % | 1.05 | (9.9) | % | ||||||||||||||||||
| Diluted underlying EPS | 0.53 | (12.1) | % | 1.07 | (7.5) | % | ||||||||||||||||||
| Free cash flow | 428 | (14.8) | % | 723 | (56.4) | % | ||||||||||||||||||
Comments from Frans Muller, President and CEO of Ahold Delhaize
“We are pleased with our Q2 performance. During the quarter, associates in all our brands and businesses continued to work tirelessly in a rapidly shifting environment, marked by the gradual reopening of the economies across our markets. We remain grateful to them for their hard work and dedication to serving customers and communities. We would also like to express our support for everyone impacted by the recent flooding in the Netherlands and Belgium and fires in Greece, and are committed to serving these communities and our brands’ associates during these difficult times. We are aware of the recent increases in infection rates in many of our markets and will continue to support COVID-19 vaccination efforts in the U.S. and provide help and assistance in all our communities. We remain on track to deliver on our pledge to contribute €20 million in charitable donations, spread evenly between the U.S. and Europe, during 2021. This is part of our broader spending for COVID-19-related care, which amounted to €84 million in the quarter. In Q2, our brands, together with suppliers, remained focused on fulfilling their vital role in society by maintaining food and product supplies to local communities.
“While communities across our markets reopened during Q2, food-at-home demand remained very resilient. Many of the habits formed by consumers during the COVID-19 pandemic in 2020 are proving sticky, aided by our initiatives to improve our omnichannel offerings for consumers. This drove Group net sales of €18.6 billion in the quarter and was exemplified by the acceleration in the Group two-year comparable sales stack in Q2 to 16.4%, versus growth of 14.4% in full year 2020. The two-year comparable sales stack growth rates were strong in both of our regions, but particularly in the U.S.
“While COVID-19 continues to create significant uncertainty, our Q2 results provide us with the confidence to raise our underlying EPS and underlying operating margin forecast for the full year. We also announced a 2021 interim dividend of €0.43 compared to the 2020 interim dividend of €0.50, in line with our dividend policy which is equal to 40% of the year-to-date underlying income per share from continuing operations. As previously communicated, expect to grow the full-year 2021 dividend year-over-year.
“We continue to be in a strategically stronger position in 2021 relative to the time before the COVID-19 pandemic began. Our investments in our online proposition continue to serve us well. In Q2, net consumer online sales continued to grow, coming on top of the very robust growth profile from the same quarter last year. During the quarter, we added 86 new click-and-collect locations in the U.S., continued to expand AH Compact (our no-fee delivery service in the Netherlands) to new markets, and doubled Albert Heijn’s home delivery coverage in Belgium’s Flanders region.
“Our “Save for Our Customers” program remains on track to produce savings of more than €750 million in 2021 and we continue to execute against our initiatives aimed at becoming a more efficient company beyond 2021. For example, after a successful pilot program, the U.S. businesses will scale up the use of artificial intelligence-enabled ‘exosuits’ to reduce fatigue and improve safety for associates in distribution centers. We also remain on schedule to achieve 65% self-distribution in the U.S. supply chain by year-end and 85% by 2022.
“We continue to make progress in elevating our Healthy and Sustainable strategy. We are proud to be one of the leading signers of the EU Code of Conduct for Responsible Food Business and Marketing Practices, as part of the European Green Deal, committed to shifting to a sustainable food system. As part of the pact, we have made commitments in the areas of healthier choices, product transparency, waste reduction and climate impact. In Europe, Romania has added the Nutri-Score nutritional navigation system to all of its own-brand ranges, joining Delhaize Belgium and our Serbian brands, which already utilize the Nutri-Score system. In the U.S., 52.4% of our Q2 sales are healthy, earning the Guiding Stars 1, 2, or 3 rating. This is in support of our company-wide ambition to raise sales of healthy own-brand products to 51% by the end of 2022; in 2020 we reached 49.8%.”
Q2 Financial highlights
Group highlights
Group net sales were €18.6 billion, down 2.4% at actual exchange rates, but up 3.0% at constant exchange rates, impacted by unfavorable foreign exchange rate, acquisitions, a rebound in gasoline sales, and flat comparable sales growth excluding gasoline, cycling strong Q2 2020 results. Comparable sales were negatively impacted by approximately 0.3 percentage points from unfavorable calendar shifts in 2021. On a two-year comparable sales stack basis, growth for the Group of 16.4% in Q2 2021 was an acceleration from the 14.4% growth posted for the full year 2020, and consistent with the 16.4% growth from Q1 2021. In Q2, Group net consumer online sales grew 35.8% at constant exchange rates, aided by the FreshDirect acquisition.
In Q2, Group underlying operating margin was 4.5%, down 0.8 percentage points from the prior year at constant exchange rates, as margins lapped unusually high levels in the prior year due to COVID-19. Margins in 2020 benefited largely from higher operating leverage due to higher sales trends related to COVID-19. In Q2, Group IFRS-reported operating margin was 4.4%.
Underlying income from continuing operations was €551 million, down 20.6% in the quarter. Ahold Delhaize’s IFRS-reported net income in the quarter was €540 million. Diluted EPS was €0.52 and diluted underlying EPS was €0.53, down 17.5% compared to last year’s record Q2 results. Management believes that framing 2021 diluted underlying EPS growth relative to 2019 (prior to COVID-19) provides a helpful context for investors. Therefore, compared to Q2 2019, diluted underlying EPS in the quarter was up approximately 55%. In the quarter, 7.5 million own shares were purchased for €176 million, bringing the total amount to €488 million in the first half of the year.
U.S. highlights
U.S. net sales increased 2.7% at constant exchange rates, and declined 6.2% at actual exchange rates. U.S. comparable sales excluding gasoline declined 1.5%, as they were unfavorably impacted by the lapping of significant consumer stock-up activity related to COVID-19 in 2020, when comparable sales excluding gasoline grew 20.6% in the second quarter. On a two-year comparable sales stack basis for Q2 2021, growth was 19.1%, a sequential acceleration versus the 15.8% growth for the full year 2020. Brand performance continued to be led by Food Lion.
In Q2, online sales in the segment were up 61.0% in constant currency, driven by continued expansion of click-and-collect facilities and the FreshDirect acquisition. Excluding the FreshDirect acquisition, U.S. online sales grew 29.0% in constant currency, building on top of the significant 126.8% growth in the same quarter last year.
Underlying operating margin in the U.S. was 5.0%, down 1.1 percentage points from the prior year at constant exchange rates, as the prior year period benefited from higher operating leverage due to higher sales trends related to COVID-19 and, to a smaller extent, continued costs related to COVID-19. In Q2, U.S. IFRS-reported operating margin was 4.9%.
Europe highlights
European net sales grew 3.6% at constant exchange rates and 3.9% at actual exchange rates. Europe’s comparable sales excluding gasoline grew 2.4%, despite lapping high comparable sales excluding gas of 10.2% in the same quarter last year. Q2 comparable sales were negatively impacted by approximately 0.7 percentage points from calendar shifts in 2021. On a two-year comparable sales stack basis for Q2 2021, growth was 12.6%, an acceleration compared to growth of 12.3% in 2020. The strong growth was led by performance at Albert Heijn, bol.com and in the Czech Republic.
In Q2, net consumer online sales in the segment were up 27.0%, which comes on top of 63.9% growth in the same period last year. At bol.com, net consumer sales grew by 24.2% in the quarter, which comes on top of 65.4% growth in Q2 2020. Bol.com’s sales from third-party sellers grew 26% in the quarter, with nearly 47,000 merchant partners on the platform.
Underlying operating margin in Europe was 4.2%, down 0.3 percentage points from the prior year at constant exchange rates, as the prior year period benefited from higher operating leverage due to higher sales trends related to COVID-19 and to a smaller extent, continued costs related to COVID-19. In Q2, European IFRS-reported operating margin was 4.1%.
Outlook
While COVID-19 continues to create significant uncertainty for the remainder of 2021, our results in Q2 provide management the confidence to once again raise the underlying EPS growth outlook for 2021, and to raise the underlying operating margin outlook for 2021.
As previously reported, COVID-19, and to a lesser extent, a 53-week calendar, significantly distorted Ahold Delhaize’s 2020 financial results. Lapping these effects will impact results in 2021, which returns to a 52-week calendar.
In 2021, the Group underlying operating margin outlook has been raised to approximately 4.3%, versus at least 4.0% previously, reflecting the strong margin performance over the first half of the year. The outlook continues to reflect the effects of the cost savings of over €750 million largely offsetting cost pressures related to COVID-19, that are expected to continue and the negative impact from increased online sales penetration.
The underlying EPS guidance has been raised and is now expected to grow in the high-teen range relative to 2019 earnings, versus low- to mid-teen growth previously. Management believes that framing 2021 underlying EPS guidance relative to 2019, which was prior to COVID-19 and also on a 52-week calendar, provides a helpful context for investors.
The free cash flow outlook is unchanged at approximately €1.6 billion. This puts the Company on track to reach €5.6 billion in cumulative free cash flow from 2019-2021 (averaging nearly €1.9 billion annually), which exceeds the Capital Markets Day 2018 target of €5.4 billion (averaging €1.8 billion annually). Capital expenditure is expected to be around €2.2 billion, and reflects the Company’s higher investments in digital and omnichannel capabilities and for improvements related to recent M&A. In addition, Ahold Delhaize remains committed to its dividend policy and share buyback program in 2021, as previously stated. We expect to grow the full-year 2021 dividend year-over-year.
| Full-year outlook | Underlying operating margin1 | Underlying EPS | Save for Our Customers | Capital expenditures | Free cash flow2 | Dividend payout ratio3, 4 | Share buyback4 | ||||
| Updated outlook | 2021 | ~ 4.3% | High-teen growth vs. 2019 | > €750 million | ~ €2.2 billion | ~ €1.6 billion | 40-50% payout; YOY growth in dividend per share |
€1 billion | |||
| Previous outlook | 2021 | At least 4% | Low- to mid-teen growth vs. 2019 | > €750 million | ~ €2.2 billion | ~ €1.6 billion | 40-50% payout; YOY growth in dividend per share |
€1 billion |
- No significant impact to underlying operating margin from returning to a 52-week calendar versus a 53-week calendar in 2020, though the return to a 52-week calendar will negatively impact net sales for the full year by 1.5-2.0%. Comparable sales growth will be presented on a comparable 52-week basis.
- Excludes M&A.
- Calculated as a percentage of underlying income from continuing operations.
- Management remains committed to the share buyback and dividend program, but given the uncertainty caused by COVID-19, they will continue to monitor macroeconomic developments. The program is also subject to changes in corporate activities, such as material M&A activity.
Attachments
Latest Zen Edition Delivers Secure, Modular, and Scalable Edge Data Solutions with Seamless Synchronization from Edge to Cloud
ROUND ROCK, Texas, June 17, 2024 /PRNewswire/ — Actian, the data and analytics division of HCLSoftware, today announced the launch of Actian Zen 16.0, the newest version of its innovative embedded database. To help businesses run faster, smarter applications on the edge, Zen 16.0 is designed for real-time data processing across mobile, IoT devices, edge gateways, and complex machinery.
Actian developed Zen 16.0 to capture the growing demand for edge computing. IDC predicts edge computing will account for $232 billion in spending this year*. Zen 16.0 simplifies and optimizes edge computing for resource-constrained environments that range from industrial IoT and connected healthcare to smart cities. Actian Zen 16.0 introduces performance enhancements and new features designed to improve efficiency and functionality for the more than 13,000 organizations currently using Zen, as well as attracting new customers.
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Zen 16.0 delivers the small footprint with fast read and write access and automatic administration that resource-constrained environments require. Zen16.0 addresses the need to support high-performance intelligent applications with minimal administration, particularly for frequent data update use cases like sensor data collection to monitor patient well-being or asset management tracking using RFID scanners.
Zen 16.0 ensures seamless data synchronization from edge to cloud, supports both SQL and NoSQL data access, and leverages popular programming languages to empower developers in building low-latency embedded applications.
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Detailed here, Zen 16.0 includes improved L2 cache sizing, page preload for large data files, Kafka data stream support, EasySync – a new datasync utility, enhanced JSON support, Btrieve2 Python package, Docker and Kubernetes container support, and extended index key length.
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Actian makes data easy. We deliver cloud, hybrid, and on-premises data solutions that simplify how people connect, manage and analyze data. We transform business by enabling customers to make confident, data-driven decisions that accelerate their organization’s growth. Our data platform integrates seamlessly, performs reliably, and delivers industry-leading speeds at an affordable cost. Actian is a division of HCLSoftware.
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Artificial Intelligence
Application Security Market worth $55.0 billion by 2029- Exclusive Report by MarketsandMarkets™
CHICAGO, June 17, 2024 /PRNewswire/ — The global Application Security Market to grow from USD 33.7 billion in 2024 to USD 55.0 billion by 2029 at a compound annual growth rate (CAGR) of 10.3% during the forecast period, according to a new report by MarketsandMarkets™. The application security (AppSec) market is expanding rapidly due to the growing reliance on applications and the escalating threat of cyberattacks. The increasing frequency and sophistication of these attacks are driving the demand for strong AppSec solutions, a trend likely to persist. As organizations shift to cloud-based applications, new security challenges arise, requiring AppSec solutions that can adapt and provide robust controls. AppSec vendors are creating user-friendly tools that integrate smoothly with developer workflows, promoting an early vulnerability detection approach. Small and medium-sized enterprises (SMEs) and organizations with limited security resources are turning to Managed Security Service Providers (MSSPs) for affordable expertise and tools. The extensive use of open-source software (OSS) also presents unique security issues, leading to the evolution of AppSec solutions to effectively secure open-source code.
Browse in-depth TOC on “Application Security Market”
200 – Tables 50 – Figures350 – Pages
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Scope of the Report
Report Metrics
Details
Market size available for years
2018–2029
Base year considered
2023
Forecast period
2024–2029
Forecast units
Value (USD Billion)
Segments Covered
By Type, By Component, By Organization Size, By Deployment mode, By Vertical, and By Region
Geographies covered
North America, Europe, Asia Pacific, Middle East Africa, and Latin America
Major companies covered
Major vendors in the global Application Security Market include IBM (US), HCL (India), Synopsys (US), Microfocus (UK), Capgemini (France), Onapsis (US), Cloudflare (US), Guardsquare (Belgium), Checkmarx (US), Fortinet (US), Checkpoint (Israel), Broadcom (US), Palo Alto Networks (US), Qualys (US), Rapid7 (US)
By Component, the services segment will grow at the highest CAGR during the forecast period.
The cybersecurity skills gap persists as a significant challenge, but AppSec services offer a solution by providing access to experienced security professionals who can design, implement, and manage effective application security programs. These services bring specialized expertise in areas like penetration testing, security code reviews, and vulnerability assessments, complementing standard solutions and addressing complex security challenges. Navigating data privacy regulations and industry-specific security standards can be daunting, but AppSec services provide compliance guidance, helping organizations efficiently meet regulatory requirements. Managed Security Service Providers (MSSPs) play a crucial role in the AppSec services market, offering comprehensive security solutions such as AppSec assessments, vulnerability management, and ongoing monitoring, which is cost-effective and beneficial for organizations with limited security resources. AppSec services are also evolving to integrate seamlessly with DevSecOps workflows, allowing security professionals to collaborate with developers in identifying and addressing vulnerabilities early in the development lifecycle. Moreover, these services increasingly include security awareness training programs to educate employees on recognizing and mitigating security threats, complementing technical controls with essential human vigilance.
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By Type, the Mobile Application Security segment will grow at a higher CAGR during the forecast period.
The mobile application security segment within the broader application security (AppSec) market is experiencing rapid growth due to the widespread use of smartphones and the proliferation of mobile apps. With an ever-increasing number of mobile applications across diverse industries, ensuring their security has become a paramount concern. The trend of Bring Your Own Device (BYOD) further complicates security efforts, as personal devices may lack the same level of security controls as corporate-issued ones. Mobile AppSec solutions must address these concerns while complying with data privacy regulations governing the collection and storage of sensitive user data. Integrating security throughout the mobile app development lifecycle is crucial, with solutions tailored to seamlessly integrate with developer workflows to promote early vulnerability detection and remediation. Mobile AppSec solutions need to cater to the specific security requirements of both iOS and Android platforms, each with its own vulnerabilities and testing methodologies. Techniques like app shielding and code obfuscation are also being employed to deter attackers from reverse engineering and exploiting vulnerabilities within mobile applications.
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By region, Asia Pacific will grow at the highest CAGR during the forecast period.
The Asia Pacific region is undergoing significant growth in its Application Security Market, driven by several key factors. As industries undergo rapid digital transformation, there’s a heightened need for robust security measures to protect interconnected systems. Moreover, the region faces increasing cyber threats, prompting businesses to prioritize application security as a crucial defense mechanism. Stricter data privacy regulations, akin to data protection laws in Europe, mandate strong security practices for handling personal data, further driving market demand. Cloud adoption is surging, leading to a need for cloud-native security solutions that effectively protect applications in cloud environments. Managed Security Service Providers are becoming popular, especially among SMEs, offering cost-effective access to security expertise. Additionally, the adoption of agile and DevOps methodologies necessitates application security solutions that seamlessly integrate with development workflows. Despite challenges such as low awareness of security best practices, skills shortages, and budget constraints, the long-term outlook for the Asia Pacific Application Security Market remains highly positive. Factors like digitalization, cyber threats, and data privacy regulations are expected to sustain market growth, alongside trends like cloud computing and managed security services adoption.
Top Key Companies in Application Security Market:
Major vendors in the global Application Security Market include IBM (US), HCL (India), Synopsys (US), Microfocus (UK), Capgemini (France), Onapsis (US), Cloudflare (US), Guardsquare (Belgium), Checkmarx (US), Fortinet (US), Checkpoint (Israel), Broadcom (US), Palo Alto Networks (US), Qualys (US), Rapid7 (US).
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Artificial Intelligence
Membrane Chromatography Market to Reach USD 637 Million with 14.7% CAGR | MarketsandMarkets™
CHICAGO, June 17, 2024 /PRNewswire/ — The membrane chromatography market is poised to grow significantly, with a projected value of USD 637 million by 2029, reflecting a robust CAGR of 14.7% from an estimated USD 321 million in 2024. This growth is primarily fueled by the escalating production of biopharmaceuticals like vaccines and monoclonal antibodies, coupled with increased R&D activities in the biopharmaceutical sector. Key players in this market include Danaher Corporation (US), Sartorius AG (Germany), Merck KGaA (Germany), and Thermo Fisher Scientific Inc. (US), who employ strategies such as new product launches, acquisitions, agreements, collaborations, and geographical expansions to bolster their market presence. Danaher Corporation is known for its extensive range of life science and diagnostic products, investing heavily in R&D, while Sartorius AG stands out for its global reach and strategic collaborations like the one with Waters Corporation for downstream biomanufacturing. Merck KGaA, on the other hand, is recognized for its comprehensive solutions and ongoing investments in R&D, as demonstrated by its substantial investment in membrane and filtration manufacturing capabilities in Cork, Ireland.
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Browse in-depth TOC on “Membrane Chromatography Market”416 – Tables52 – Figures348 – Pages
DRIVER: Catalyzing Growth Through Increased Biopharmaceutical R&D
As C-level executives, you’re aware of the pivotal role R&D plays in the biopharmaceutical sector, especially amidst the escalating demand for treatments targeting chronic illnesses. The robust increase in R&D investments, exemplified by a significant uptick in spending among Spanish biotech firms in 2022, underscores the driving force behind the membrane chromatography market’s expansion.
RESTRAINT: Slow Adoption in Large-Scale Manufacturing
Despite its promising advantages, membrane chromatography encounters obstacles when it comes to scaling up for large-scale operations. Challenges such as membrane degradation and fouling, coupled with the entrenched dominance of traditional column chromatography, impede widespread adoption. These complexities, alongside the risks of process disruption and quality compromises, restrain the market’s growth within large-scale manufacturing.
OPPORTUNITY: Embracing Single-Use Technologies for Enhanced Efficiency
The shift towards single-use membrane chromatography systems presents a compelling opportunity for executives seeking efficiency gains. These systems offer tangible benefits, including reduced contamination risks and lower capital investments. Collaborative efforts, like the partnership between W. L. Gore & Associates, Inc. and AGC Biologics, signal a strategic move towards streamlining downstream purification processes and maximizing productivity.
CHALLENGE: Competing with Alternative Techniques
In the landscape of membrane chromatography, executives must navigate the challenge posed by alternative techniques such as protein crystallization and capillary electrophoresis. These methods, renowned for their simplicity and cost-effectiveness, present formidable competition, potentially diverting market focus from membrane chromatography solutions and posing a significant hurdle to its sustained growth.
Global Membrane Chromatography Industry Ecosystem Analysis
Executives operating within the membrane chromatography industry are part of a multifaceted ecosystem encompassing raw material suppliers, manufacturers, and end users ranging from pharmaceutical giants to academic institutions. Product portfolios span from essential syringe filters to advanced membrane sheets, catering to diverse needs across the sector’s spectrum.
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Flow-Through Membrane Chromatography Leads Industry Growth in 2023
The dominance of flow-through membrane chromatography in 2023 underscores a strategic focus on biologics development, particularly monoclonal antibodies. The segment’s ascendancy is further fueled by the industry’s quest for efficient chromatography operations, positioning it as a key driver in the membrane chromatography market.
Pharmaceutical & Biopharmaceutical Companies Drive Market Growth
In 2023, pharmaceutical and biopharmaceutical companies emerged as the dominant force within the membrane chromatography landscape, buoyed by the escalating demand for biotherapeutics. The segment’s robust growth trajectory is propelled by increased R&D investments aimed at advancing biopharmaceutical products, solidifying its pivotal role in the membrane chromatography market.
North America Commands Membrane Chromatography Market in 2023
North America’s commanding presence in the membrane chromatography market during 2023 underscores its status as a key hub for biopharmaceutical development and manufacturing. With significant investments in R&D and a well-established healthcare sector, North America leads the global market, followed closely by Europe and the Asia Pacific, reflecting the region’s pivotal role in driving industry innovation and growth.
Recent Innovations Shape Membrane Chromatography Landscape
Thermo Fisher Scientific Inc. Enhances Presence in Asia Pacific with New FacilityIn February 2024, Thermo Fisher Scientific Inc. fortified its position in the Asia Pacific market with the inauguration of a sterile drug facility in Singapore. This strategic investment aligns with the company’s commitment to delivering new medicines and vaccines, complementing enhanced research capabilities at its Customer Experience Center and Bioprocess Design Center. The Customer Experience Center, equipped with a wide array of products spanning molecular biology, genetic analysis sequencing, chromatography mass spectrometry, and cell therapy, underscores Thermo Fisher Scientific’s dedication to innovation and customer-centric solutions.Agilent Technologies Invests in Nucleic Acid Therapeutics ManufacturingJanuary 2023 witnessed Agilent Technologies’ significant investment of USD 725 million to expand its manufacturing capacity for nucleic acid-based therapeutics. This expansion underscores Agilent’s commitment to meeting the growing demand for advanced therapeutics, positioning the company as a key player in the evolving landscape of nucleic acid-based treatments.Sartorius AG Expands Portfolio Through Novasep AcquisitionIn February 2022, Sartorius AG bolstered its chromatography capabilities with the acquisition of Novasep’s chromatography division. This strategic move enables Sartorius to access a portfolio tailored for smaller biomolecules like oligonucleotides, peptides, and insulin, as well as innovative systems for continuous biologics manufacturing. By integrating Novasep’s offerings, Sartorius aims to diversify its revenue streams and strengthen its position as a leading provider of chromatography solutions.3M Introduces Breakthrough Solution for Protein Therapeutic ManufacturingJune 2021 marked the launch of 3M Harvest RC clarifier, a revolutionary single-stage purification solution designed for recombinant protein therapeutic manufacturing. This innovation underscores 3M’s commitment to advancing bioprocessing technologies, offering a streamlined and efficient solution for protein purification, thereby enhancing manufacturing efficiency and product quality.For more information, inquire now! Inquire Now
Related Reports:
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Gas Chromatography Market
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