Chromatography Resin Market Worth $3.0 Billion by 2024 - Exclusive Report by MarketsandMarkets™
CHICAGO, Dec. 2, 2019 /PRNewswire/ -- According to the new research report "Chromatography Resin Market by Type (Natural, Synthetic, Inorganic Media), Technique (Ion Exchange, Affinity, Hydrophobic Interaction, Size Exclusion, Multimodal), Application (Pharma & Biotechnology, Food & Beverage), Region - Global Forecast to 2024", published by MarketsandMarkets™, the global Chromatography Resin Market size is projected to reach USD 3.0 billion by 2024, at a CAGR of 7.2%, from USD 2.1 billion in 2019.
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The growth of the global chromatography resin market size is primarily triggered by the increasing demand for therapeutic antibodies. The increasing number of mAbs available in the market is expected to increase the demand for the preparative and process chromatography technique, thereby supporting the growth of the chromatography resin industry. The increasing biopharmaceutical R&D activities in the last decade have been driving the demand for chromatography resins in drug discovery applications. The application of chromatography as a separation technique is widely utilized in the food sector. Chromatography techniques are increasingly used in the field of nutrition chemistry and nutraceuticals, which is further expected to drive the demand for chromatography resin.
Natural polymer is the largest segment of the chromatography resin market.
The natural polymer segment is estimated to lead the chromatography resin industry, in terms of value, in 2019. Rising demand for chromatography resins with reasonable mechanical strength and great degree of cross-linkage is expected to drive the demand for natural polymers in the market. These natural polymers are further processed to achieve a greater degree of cross-linkage, thereby achieving reasonable mechanical strength, which is expected to support the growth of natural polymers. Wide application of natural polymers in the industrial-scale purification of biomolecules results in higher consumption of these resins in comparison to synthetic polymer and is projected to drive their demand in the chromatography resin market.
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Ion exchange is projected to be the largest technique segment of the chromatography resin industry during the forecast period.
The ion exchange segment is projected to be the largest technique segment of chromatography resin during the forecast period. In most of the biopharmaceutical purification processes, IEX chromatography has become an essential step. It is used in combination with other techniques, wherein the use of protein A resins is not a commercially preferred option. This has led to high demand for IEX chromatography resins.
Pharmaceutical & biotechnology is estimated to be the largest application segment of the chromatography resin market during the forecast period.
The pharmaceutical & biotechnology segment is projected to be the largest application segment of chromatography resin industry during the forecast period. The industrial-scale purification of biopharmaceuticals and quantitative and qualitative analysis of drugs are the key areas of application for chromatography resins. Rising demand for ion exchange, affinity, and other chromatography techniques to manufacture biological drugs, such as monoclonal antibodies (mAbs) and other recombinant proteins is expected to drive the demand for chromatography resin. The growth of the pharmaceutical & biotechnology segment is further attributed to the increasing demand for monoclonal antibodies in key therapeutic areas, such as oncology, tuberculosis, and other autoimmune diseases. Europe and the US are the major destinations for biopharmaceutical research and production.
North America is projected to be the largest market for chromatography resin during the forecast period.
North America is the largest chromatography resin market and is expected to continue dominating the global market during the forecast period. The US is the leading market for chromatography resins in North America, followed by Canada. A strong therapeutic monoclonal antibody market in North America is the key driver for resin sale in this segment. Modern chromatographic techniques are also increasingly used in food analytics and other diagnostic purposes in the US as well as Canada. The key suppliers in the region include GE Healthcare (US), Bio-Rad (US), Thermo Fisher (US), Pall (US), and Repligen (US). Almost all the key pharmaceutical companies have their research centers in North America. The region has been leading the way in R&D of biopharmaceuticals. The North American chromatography resin market is primarily driven by the increasing demand for monoclonal antibodies, rising R&D expenditure by pharmaceutical and biotechnology companies, and the presence of major players in the region.
The key Chromatography Resin Market players profiled in the report include GE Healthcare (US), Merck KGaA (US), Bio-Rad Laboratories (US), and Thermo Fisher Scientific Inc. (US), Tosoh Corporation (Japan), Mitsubishi Chemical Corporation (Japan), Pall Corporation (US), Purolite Corporation (US), Repligen Corporation (US), and Avantor Performance Materials Inc. (US).
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Related Reports:
Chromatography Resin Market in Drug Discovery by Type (Natural, Synthetic, Inorganic Media), Technique (Ion Exchange, Affinity, Hydrophobic Interaction, Size Exclusion, Multi-Modal), and Region - Global Forecast to 2022
Browse Adjacent Markets: Resins and Polymers Market Research Reports & Consulting
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