Chromatography Resins Market Outlook (2022 - 2032)
The global chromatography resins market is expected to grow at a CAGR of 2.7% during the period 2022-2032. The market holds a valuation of US$ 1700.78 million as of 2022, and by 2032, the market is expected to reach a valuation of US$ 2220 million.
An increase in the demand for monoclonal antibody production is expected to increase the demand for chromatography resins during the forecast period. Rapid expansion of the biopharmaceutical industry, coupled with advancements in research in genomics, is expected to increase the chromatography resins market share during the forecast period.
There has also been a consistent increase in non-communicable disease transmission over the last few years. This is expected to further boost the market growth. Moreover, chromatography resins are also increasingly used in the bio-similar and biomolecules market, which might further surge the market growth.
Apart from that, chromatography resins are extensively used in research laboratories, where companies are adopting the latest technology. This is expected to have a huge influence on the chromatography resin market.
There is an increase in the demand for cost-effective technology for the separation and purification of isomers, enantiomers, and many other pharmaceutical ingredients. This might as well lead to an increase in the sales of chromatography resins. Chromatography resins are also being increasingly used for separation techniques, thereby used as purification resin.
They are also used in the purification and analysis of raw materials. Therefore, the growing demand for high-quality drugs shows a huge opportunity for growth in the case of the chromatography resins market.
Moreover, high investment in the Research and Development is expected to further drive the market growth during the forecast period. However, strict norms implemented by governments and health authorities across the globe are expected to pose some challenges towards market growth.
Moreover, the high cost related to the adoption and use of the chromatography resins technique is expected to further impede the market growth during the forecast period.
Furthermore, the usage of a small protein A column instead of a large protein A column is expected to further hinder market growth.
The US market is expected to be the largest market during the forecast period. The market is expected to reach a valuation of US$ 700 million by 2031. The Asia Pacific market is expected to grow at a robust CAGR of 11.4% during the forecast period. The Japanese market is expected to be one of the largest markets in the region and is anticipated to grow at a CAGR of 7%.
In Europe, UK and Germany are expected to have a huge demand for chromatography resins during the forecast period. Based on the product type, synthetic chromatography is expected to be the most preferred during the forecast period.
Based on the technology type, affinity chromatography is expected to be the most utilised technology type in the chromatography resins market during the forecast period. The key players have been developing new recombinant Protein A affinity chromatography resins to purify antibodies. The focus has also been to develop affinity chromatography resins customised for efficient purification of human complement-Factor H.
Chromatography Resins Market Valuation (2022)
US$ 1700.78 million
Chromatography Resins Market Projected Size (2032)
US$ 2220 million
Chromatography Resins Market Expected CAGR (2022-2032)
Chromatography Resins Market Overview
Chromatography resins are used in purification and separation of proteins and other bio-molecules in biotechnology, pharmaceutical, food manufacturing, and environmental analysis. Chromatography resins are of three types, viz., synthetic, natural and inorganic media.
Natural and synthetic resins are preferred over inorganic media. Chromatography resins are used in affinity, mixed-mode, ion-exchange, hydrophobic interaction and size exclusion techniques. In terms of revenues, Protein A resins accounted for the highest share of the market.
The main driver for the chromatography resins market is huge demand for monoclonal antibodies. Huge demand for monoclonal bodies is on account of the number of growing critical diseases resulting in these types of therapeutics to swiftly gain significance.
Biotechnology & pharmaceutical are the leading end-users for chromatography resins and are likely to gain more importance in near future. Food manufacturing was second-largest end-user application for chromatography resins.
Chromatography resins are also used in industrial applications, genetic engineering and drug recovery. However, presence of stringent regulations regarding manufacture and usage of this product is expected to hamper the growth of the market over the next few years.
Research & development in chromatography resin for various applications is expected to open new opportunities for the growth of the market.
In technology terms, ion-exchange chromatography had the highest consumption in past few years. Though, affinity chromatography resins hold the key share of the revenue. This is mainly due to the higher selling costs associated with affinity resins.
Demand for chromatography resins was highest in North America. However, there is huge demand for chromatography resins from Asia Pacific region due to the growing pharmaceutical industry, particularly in India, China and South Korea. Additionally, the emergence of CMOs and CROs is driving the chromatography resins market in Asia Pacific region. Europe is expected to show steady growth over the forecast period.
Some of the key players in the chromatography resins market are Bio-Rad Laboratories Inc., GE Healthcare Life Sciences, Tosoh Corporation, Merck KGaA, Life Technologies Corporation and Pall Corporation among others.
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