A report by Future Market Insights, an ESOMAR-certified consulting firm, forecasts that the global chromatography resin market will grow at an impressive rate between 2021-2031. Increasing adoption of affinity chromatography resin technology is expected to increase the demand for chromatography resins worldwide. At the same time, increasing demand for monoclonal antibody production will improve future sales.
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The demand for chromatography resins is growing widely in biopharmaceutical companies and research institutes. The rapid introduction of synthetic chromatography resins for biosimilar separation and the development of monoclonal antibodies are expected to spur growth.
According to FMI’s analysis, affinity chromatography resin revenue is expected to grow at a CAGR of over 11.3% , surpassing its value of approximately $10 billion. $879.6 million by end of 2031 However, stringent regulatory policies, availability of cost-effective alternatives and the high cost of chromatography technology are some of the factors limiting market growth.
Increased government funding and initiatives to curb mortality from non-communicable diseases will drive adoption of chromatography resins worldwide. In addition, increased spending on research and development of drug delivery among industry giants will also drive up market demand.
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According to FMI’s analysis, the global chromatography resins market is expected to reach a value of nearly US$2215Mn between 2021-2031, registering a steady growth at a CAGR of 6.90% .
Highlights of FMI’s Chromatography Resins Market Study:
- In terms of product type, synthetic chromatography resins are expected to show higher growth compared to natural chromatography resins.
- Affinity chromatography resin technology is expected to lead this segment with a growth rate of 11.3% CAGR.
- Biopharmaceutical companies will remain the largest end-user of chromatography resins worldwide, approximately $900 million by the end of 2031.
- Increasing government initiatives to contain non-communicable diseases across India will boost market demand
- The United States is expected to remain the largest market for chromatography resins during the forecast period.
- Due to the increasing prevalence of non-communicable diseases, Germany and the UK will jointly lead the European chromatography resin market.
- China is expected to emerge as a potential market due to the growing adoption of advanced chromatography technologies within the region.
An FMI analyst said, “Increasing research and development activities within biopharmaceutical companies aimed at developing economical monoclonal antibody drugs are expected to provide lucrative opportunities for market players.
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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, WR Grace & Co., JSR Micro Inc. and Life Technology Corporation are the major players operating in the chromatography resin market.
According to FMI’s analysis, the market is dominated by the top five players in the global chromatography resin market , accounting for more than 70% of the market share . The top five include Bio-Rad Laboratories, Inc., GE Healthcare, Tosoh Corporation, Merck KGaA, and Thermo Fisher Scientific Inc.
Market players operating in the chromatography resins market are forming alliances and targeted mergers and collaborations with other leading healthcare companies to expand their product portfolios.
For example, in February 2021, Repligen Corporation, a global life sciences company with a focus on bioprocessing technology leadership, and Navigo Proteins GmbH, a prominent protein engineering company specializing in the development of novel affinity ligands, announced that the NGL COVID-19 Spike Protein Affinity announced the commercial launch of Resin is a novel affinity resin used in the purification of COVID-19 vaccines.