The net worth of the chromatography resin industry’s market share is expected to increase from US$ 1.4 billion in 2023 to more than US$ 2.8 billion by 2033. From 2023 to 2033, the market for Chromatography Resin is expected to grow at a 7.5% CAGR. Growth in the market is primarily driven by an increase in biosimilar demand and an increase in pharmaceutical and biopharmaceutical R&D activities.
Demand for chromatography resins is rising extensively within biopharmaceutical companies and research institutes. The burgeoning adoption of synthetic chromatography resin for the separation of biosimilars and the development of monoclonal antibodies will spur 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, the availability of cost-effective alternatives, and the high cost of 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.
“Increasing research & development activities aimed at the development of economic monoclonal antibody drugs within the biopharmaceutical companies are expected to provide lucrative opportunities for the market players,” says the FMI analyst.
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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, 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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Market players operating in chromatography resins market are also forming tie-ups and targeted mergers & collaboration with other top healthcare companies for the expansion of their product portfolios.
For instance, in February 2021, Repligen Corporation, a global life sciences company focused on bioprocessing technology leadership, and Navigo Proteins GmbH, a prominent protein engineering company specializing in novel affinity ligand development, announced the commercial launch of NGL COVID-19 Spike Protein Affinity Resin, a novel affinity resin used in the purification of COVID-19 vaccines.
On February 4th, 2021 Avitide, another leading player, finalized the development of an affinity bioprocess resin, AVIPure-COV2S, for the purification of recombinant COVID-19 vaccines.
Chromatography Resin Market by Category
By Product Type:
- Native
- Synthetic
By Technology Type:
- Affinity Chromatography
- Anion Exchange Chromatography
- Cation Exchange Chromatography
- Size Exclusion
- Hydrophobic Interaction
By End User Type:
- Biopharmaceutical Companies
- Clinical Research Organizations
- Academic Institutes
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