Chromatography Resin Market is Projected to Reach a Valuation of US$ 2.8 Billion by 2033 | Future Market Insights, Inc.
Future Market Insights Global and Consulting Pvt. Ltd.
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Future Market Insights Global and Consulting Pvt. Ltd.
Sales of Chromatography Resin are on the Rise Due to Growing Demand for Therapeutic Antibodies for Treating Patients. FMI Registers a CAGR of 7.5% through 2033. Asia Pacific excluding Japan chromatography resin market, exhibiting growth at 11.4% CAGR during the forecast period.
DUBAI, United Arab Emirates, Jan. 12, 2023 (GLOBE NEWSWIRE) -- In 2023, the market share for chromatography resin is estimated to be worth US$ 1.4 billion, and by 2033, it will be worth over US$ 2.80 billion. The market for chromatography resin is expected to grow at a CAGR of 7.5%. This growth is driven by biosimilar demand and an increase in R&D activity in the pharmaceutical and biopharmaceutical sectors.
A major factor contributing to industry growth is the growing demand for therapeutic antibodies for the treatment of patients. A shift toward using chromatography to replace conventional separation techniques, such as distillation and filtration, is driving innovation for the product's use in various segments.
Since pharmaceutical and biopharmaceutical R&D activities have increased, chromatography resins have been in high demand for drug discovery applications. In Asia Pacific, biosimilars are in tremendous demand, and they are expected to grow rapidly in the United States and Japan in the coming years. Chromatography, which is integral to pharmaceutical R&D, will see an increase in demand as R&D spending increases.
Chromatography techniques are in high demand from the pharmaceutical, chemical, food, and beverage industries, among others, which can explain the growth of this market. The chromatography resin, which is high-accurate and easy to use, has gained considerable market share in recent years across several end-use industries due to its evolving dynamics.
Key Takeaways from the Chromatography Resin Market Study
North America dominates the market for chromatography resin.
The chromatography resin is expected to increase at a notable CAGR of 7.5%.
Asia Pacific region is expected to grow at the fastest rate with an increased revenue share.
The chromatography resin market in the U.S. is expected to remain the largest market share of chromatography resins across North America, with sales anticipated to reach a valuation of approximately US$ 700 Mn by 2031.
Competitive Landscape for the Chromatography Resin Market
According to FMI, the top five key players dominate the global chromatography resin market, accounting for 70% of revenue share in 2021. Bio-Rad Laboratories, Inc., GE Healthcare, Tosoh Corporation, Merck KGaA, and Thermo Fisher Scientific Inc. are among them. GE Healthcare, Thermo Fisher Scientific, and Merck all have large product portfolios, large distribution networks, and high levels of operational integration. Manufacturers of chromatography resins have heavily invested in R&D, resulting in several novel products that can be used across the previously niche market.
Some major companies in the chromatography resin market include Agilent Technologies,Bio-Rad Laboratories, GE Healthcare, Waters Corporation, Expedeon Ltd., Thermo Fisher Scientific Inc., Pall Corporation, Merck KGaA, Perkin Elmer Inc., Kaneka Corporation, Shimadzu Corporation, Knauer GmbH, Tosoh Bioscience
Recent Developments in the Chromatography Resin Market
Navigo Proteins, a leading protein engineering firm, and Eleva GmbH, a global manufacturer of superior biologics derived from its proprietary moss expression system, announced the successful development of an affinity chromatography resin tailored for the efficient purification of human complement-Factor H in March 2021.
Avantor Inc., a leading global provider of mission-critical products and services to customers in the life sciences, advanced technology, and applied materials industries, announced the release of a new recombinant Protein A affinity chromatography resin in April 2020.
Chromatography Resin Market Segmentation by Category
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