Chromatography Resins Market Growth & Trends
The global chromatography resins market size is anticipated to reach USD 3.5 billion by 2027, expanding at a CAGR of 7.8%, according to a new report by Grand View Research, Inc. The growth in the market can be attributed to increasing demand for therapeutic antibodies for the treatment of patients. In addition, expanding end-use applications due to continuous innovation are expected to propel market growth in the near future.
Extensive research and development activities in the chromatography resin industry has triggered the production of new resin products, which have better productivity in comparison to conventional resins. Chromatography has gained a substantial market space in the past few years across several end-use industries concerning its high accuracy and ease of use. Nonetheless, the existence of stringent government regulations and safety standards across food and beverages and pharmaceutical sectors are projected to restrain market growth over the forecast period.
Shift in the trend towards the substitution of conventional separation techniques, including distillation and filtration, with chromatography has driven invention for the chromatography applications in several novel segments. The industry is observed to be oligopolistic in nature. The top players account for approximately 65.0% market share across the globe. Other players have a strong foothold over the remaining market share. The pricing and various other strategic initiatives of the market depend on the top market players.
North America is anticipated to remain a dominant region in the market over the forecast period. U.S. has been relishing vigorous growth owing to the financial support from the government in the research and development activities. The economic performance of the Asia Pacific region is predicted to observe enhancement, as developing countries, including India and China are expected to ramp up investments in pharmaceutical and chemical sectors. China, which is the prominent consumer in the Asia Pacific market, is estimated to continue its dominance in the near future. India has registered accelerated growth in the past decade due to reforms such as “Make in India” and several financial initiatives, which are expected to encourage domestic manufacturing in the region.
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Chromatography Resins Market Report
Chromatography Resins Market Report Highlights
- In 2019, natural emerged as the largest type segment, owing to growing demand for agarose, and dextran from several end-use industries
- In 2019, ion exchange emerged as the largest technique segment, due to substantial growth in pharmaceutical sector, especially drug discover
- In 2019, pharmaceutical emerged as the largest end-use segment, concerning upsurge in quality and safety testing of products, coupled with technological advancement
- Demand for natural resin is growing in several industries on account of its low cost and high functionality, and is anticipated to continue its dominance in the forthcoming years, which will propel the growth of the market
- TriAltus Biosciences has developed protein purification technology (novel CL7/Im7 system) to aid providence cancer institute COVID-19 vaccine development.