ID: MRFR/CnM/5581-HCR | February 2021 | Region: Global | 140 pages
The Chromatography Resin Market is estimated to grow at a CAGR of 8.2% from 2022 to 2028. This market is expected to achieve revenue of USD 3.5 billion by 2028. As there is consistent demand for Chromatography Resins in different industries, the Chromatography Resin Market Growth is expected to be persistent within the forecast period.
The Chromatography Resin is used widely in separating components as it is easy to use and can be used in various chromatographic techniques. The Chromatography Resins are used in pharmaceutical sectors for analyzing and classifying the presence of even a small amount of chemicals in a particular sample. Using chromatographic techniques, these chemicals are separated. As different pharmaceutical companies are producing many new drugs, the Chromatography Resin Market is developing across the world.
Chromatography is also used in the chemical industry to find out trace quantities of trace oils. Chromatography resins are also used in environmental research laboratories to locate pesticides in the groundwater.
Chromatography resins are extensively used in the food and beverage industry to find out the traces of chemical additives in foods. The nutritional value and the shelf life of the foods and beverages can also be determined using the technique of chromatography. That is why the global Chromatography Resin Market is growing consistently.
COVID-19 Analysis
Like any other industry, the Chromatography Resin Industry is also affected by the COVID-19 pandemic. Due to travel restrictions and lockdowns imposed in different parts of the world, the Chromatography Resin Market Growth was hampered during the pandemic period. But at the same time, the role of chromatography resins in the development of various drugs especially Remdesivir has increased the demand for these resins and the market experienced steady investments. The Chromatography Resin Market is expected to grow steadily post-COVID period.
Market Dynamics
Market Drivers
The important market drivers for the global Chromatography Resin Market are the extensive use of these resins in different industries for diagnostic purposes. These resins are also used in the food analytics sector. The market of chromatography resins is sure to grow as it has high demands in the treatment of cancer, Alzheimer’s, and many other inflammatory diseases.
Restraints
The continuous development of new techniques such as charged ultra-filtration membranes, protein crystallization, and electrophoresis are going to be restraints for the Chromatography Resin Market Growth in the coming years. Another restraint is the cost of this technique. As compared to other separation techniques, the chromatography resin technique is costlier.
Opportunities
The increase in the demand for therapeutic resins is going to open up huge opportunities for the global Chromatography Resin Market. The increased awareness about the safety and quality of different foods and beverages is also going to open up opportunities for the Chromatography Resin Market.
Challenges
The main challenges of the Chromatography Resin Market Growth are the lack of skilled force and stringent regulations imposed on the manufacturing process of chromatography resins. Market experts anticipate that these challenges may affect the growth of this market negatively.
Cumulative Analysis
The Chromatography Resin Market is expected to grow at a Compound Annual Growth Rate (CAGR) of % in the coming years. The global value of Chromatography Resin Market Revenue is estimated to reach up to USD billion by the end of 2028.
Value Chain Analysis
The global Chromatography Resin Market has experienced an enhanced value chain as more companies are investing in this industry. As pharmaceutical companies are investing in research and development and the numbers of chromatography tests have increased, the value chain of this market has increased.
Market Segmentations
The global Chromatography Resin Market Size is huge and it is consistently expanding. The market is segmented based on region, types of resins, techniques used, and types of end-users.
Based on the types of resins, the market is sub-divided into natural and synthetic resins. In the year 2020, the Chromatography Resin Market was dominated by natural resins as paper chromatography was used in a variety of industries. In the coming years, synthetic resins are expected to dominate the market.
Based on the techniques, the Chromatography Resin Market is further sub-divided into ion-exchange chromatography, size exclusion, hydrophobic interaction, and affinity chromatography. Till 2020, the market was dominated by ion-exchange chromatography. The main reasons were the fast growth of the pharmaceutical industry and other related initiatives taken by the companies in developed and developing industries.
Based on the end-users, the Chromatography Resin Market is further sub-divided into pharmaceutical, biotechnology, environmental agencies, food & beverages, and agriculture. The highest revenue of the global Chromatography Resin Market was achieved by the pharmaceutical sector. The main reason was the extensive use of resins in pharmaceutical industries for the production of pure materials. The chromatography resins are also used to check for any contamination in compounds.
Based on the region, the market of Chromatography Resins is sub-divided into North America, the Asia-Pacific, Europe, and the rest of the world. Due to the expansion of healthcare, pharmaceutical, food and beverages, and chemical industry, North America had dominated the maximum share of the global Chromatography Resin Market Value.
Regional Analysis
Chromatography Resin Market Share is dominated by North America with an approximate share of more than 33% in 2020. This region is expected to maintain steady growth in this field within the forecast period. The main reasons are massive growth in the pharmaceutical industry and an increase in the healthcare sector.
The Asia Pacific region is also expected to do well in the Chromatography Resin sector as numbers of pharmaceutical companies are increasing in this region, especially in India and China.
Europe had the second-largest share of the global Chromatography Resin Market Revenue. As the governments are investing in pharmaceutical research and developments, especially in the countries like the UK and Germany, the market is expected to grow substantially in this region.
Competitive Analysis
The global Chromatography Resin Market Size is growing due to high demand, new ventures, and the adoption of new technologies by the manufacturers. The key players are looking for diversification and taking measures for business expansion. The companies such as Avantor, Purolite, and TriAltus Biosciences had invested in extensive Research and Development and product development during the COVID-19 period.
Some of the important players in the Chromatography Resin Industry are:
Recent Development
Protein Purification technology (novel CL7/Im7 system) was developed by TriAltus Biosciences to help in the development of COVID-19 vaccination. Using this technology, researchers could isolate and purify the high-yielding spike protein.
Report Overview
The report overview of the Chromatography Resin Market is given below.
Report Scope and Segmentation
The scope of this report is to provide valuable information by performing a detailed study of Chromatography Resin Industry Trends. Chromatography is the process of splitting a mixture of colors into individual components. This technique has many application areas. This report also provides important information like market segmentation, recent trends, challenges, key players, and CAGR value of the Chromatography Resin Market. This report is the compilation of information collected from different primary as well as secondary sources.
Segmentation
Report Attribute/Metric | Details |
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Market Size | 2030: Significant Value |
CAGR |
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Base Year | 2021 |
Forecast Period | 2022 to 2030 |
Historical Data | 2019 & 2020 |
Forecast Units | Value (USD Million) |
Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
Segments Covered | Basis of type, technique, application, and region |
Geographies Covered | North America, Europe, Asia-Pacific, and Rest of the World (RoW) |
Key Vendors | Bio-Rad Laboratories, Inc. (US), Tosoh Corporation (Japan), Pall Corporation (US), Thermo Fisher Scientific Inc. (US), Mitsubishi Chemical Corporation (Japan), Avantor Performance Materials, Inc. (US), GE Healthcare (US), Merck KGaA (Germany), W. R. Grace & Co. (US), Purolite Corporation (US), and Repligen Corporation (US). |
Key Market Opportunities | Surging demand for the product in chromatography tests in drug approvals is expected to drive the market growth. |
Key Market Drivers |
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Frequently Asked Questions (FAQ) :
Market experts are predicted that the Chromatography Resin Market will grow with a CAGR of 8.2% during the period projected in this report.
The Chromatography Resin Market is estimated to achieve a market value of USD 3.5 billion within the forecast period.
The rising demands for chromatography tests, increasing research and development projects in the pharmaceutical sector, and rise in drug approvals are the important market drivers for the increase in the global Chromatography Resin Market Revenue.
North America holds the largest share in the global chromatography resin market, followed by Europe and the Asia Pacific, respectively.
Tosoh Corporation (Japan), Bio-Rad Laboratories, Inc. (US), Pall Corporation (US), Mitsubishi Chemical Corporation (Japan), Thermo Fisher Scientific Inc. (US), Avantor Performance Materials, Inc. (US), Merck KGaA (Germany), GE Healthcare (US), W. R. Grace & Co. (US), Repligen Corporation (US), and Purolite Corporation (US), are some of the major players operating in the chromatography resin market.