ESOMAR-certified consulting firm Future Market Insights’ report projects the global chromatography resin market to rise at an impressive pace between 2021 and 2031. Growing adoption of affinity chromatography resin technology is expected to increase the demand of chromatography resins across the globe. Alongside this, increase in demand for monoclonal antibody production will improve the sales over the coming years.
Demand for chromatography resins is rising extensively within the biopharmaceutical companies and research institutes. Burgeoning adoption of synthetic chromatography resin for the separation of biosimilars and development of monoclonal antibodies will spur the growth.
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As per the FMI’s analysis, affinity chromatography resin sales are set to grow at over 11.3% CAGR, to surpass a valuation of approx. US$ 879.6 Mn by 2031-end. However, stringent regulatory policies, availability of cost-effective alternatives, and high cost of the chromatography technologies are some of the factors limiting the market growth.
Increasing funding by governments and initiatives undertaken to curb the mortality rate due to non-communicable diseases will spur the adoption of chromatography resins across the globe. Also, increasing expenditure on the research & development of drug delivery among the industry giants will also boost the market demand.
According to the FMI’s analysis, the global chromatography resins market is anticipated to reach a valuation of nearly US$ 2215 Mn, registering a steady growth at 6.90% CAGR between 2021 and 2031.
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Key Takeaways from FMI’s Chromatography Resin Market Study
– In terms of product type, synthetic chromatography resins are anticipated to witness higher growth compared to the native chromatography resins
– Affinity chromatography resin technology is expected to lead the segment, exhibiting the growth at 11.3% CAGR
– Biopharmaceutical companies will remain the largest end-users of chromatography resins across the globe, surpassing valuation of approx. US$ 900 Mn by 2031-end
– Rising government initiatives to curb the non-communicable diseases across India will spur the market demand
– The U.S. is expected to remain the largest market of chromatography resins throughout the forecast period
– Germany and the U.K, collectively, will lead the Europe’s chromatography resin market owing to the rising prevalence of non-communicable disease
– China is anticipated to emerge as a potential market on the back of rising adoption of advanced chromatography technologies within the region
Competitive Landscape
Agilent Technologies, Bio-Rad Laboratories Inc., GE Healthcare, Waters Corporation, Expedeon Ltd., Thermo Fisher Scientific Inc., Pall Corporation, Merck KGaA, PerkinElmer Inc., Kaneka Corporation, Shimadzu Corporation, Knauer GmbH, Tosoch Bioscience, Avantor Performance Materials Inc., Mitsubishi Chemical Corporation, W.R. Grace & Co., JSR Micro Inc., and Life Technology Corporation among others are some key players operating in the chromatography resin market.
As per the FMI’s analysis, the market is dominated by top 5 players in the global chromatography resin market, accounting for over 70% of market share. Top 5 players include Bio-Rad Laboratories, Inc., GE Healthcare, Tosoh Corporation, Merck KGaA, and Thermo Fisher Scientific Inc.
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