The chromatography resins market plays a pivotal role in various life science applications such as pharmaceuticals, biopharmaceuticals research and others. Chromatography resins are separation media used for purification and isolation of biological molecules through column chromatography technique. Chromatography resins provide high selectivity, efficiency and resolution for large-scale production of biologics. With rising demand for biopharmaceuticals, chromatography resins industry has become an integral part of drug manufacturing.
The global chromatography resins market is estimated to be valued at US$ 2.1 billion in 2024 and is expected to exhibit a CAGR of 6.7% over the forecast period 2024 to 2028.
Key Takeaways
Key players: Key players operating in the chromatography resins market are Danaher, Merck KGaA, Bio-Rad Laboratories, Thermo Fisher Scientific Inc., and GE Healthcare.
Key opportunities: Increasing drug pipeline, investments in biopharmaceutical R&D and wide applications in food testing, environmental monitoring are projected to create lucrative opportunities for market players.
Global expansion: Leading resin manufacturers are focusing on emerging markets through expansions and new facility constructions. Growing biotechnology industry in Asia Pacific and Latin America provides scope for chromatography resins export.
Market drivers: Rising demand for therapeutic monoclonal antibodies and growing biopharmaceutical industry are major drivers of chromatography resins market. Increasing need for large-scale separation of antibody drug conjugates and commercial production of vaccines bolsters the demand.
The Chromatography Resins Market Demand is driven by expansion of pharmaceutical and biotechnology industries. Increasing production of large molecule biotherapeutics including monoclonal antibodies drives the need for large scale purification using chromatography resins. Rising demand for therapeutic antibodies and commercial manufacturing of vaccines are key factors accelerating the chromatography resins industry growth.
PEST Analysis
Political: Regulations regarding use of chromatography resins in life sciences research and biopharmaceutical companies impact market demand.
Economic: Rise in healthcare expenditures and investments in research and development are key drivers of chromatography resins adoption across various industries.
Social: Increasing diseases incidence and focus on development of novel therapies increase the demand for chromatography resins in separation, purification, and quality testing processes.
Technological: Advancements in chromatography techniques and resins in terms of efficiency, selectivity, and reproducibility are likely to augment market growth over the forecast period. Newer technologies also improve productivity and workflow.
Geographical Regions with High Market Concentration
Currently, North America dominates the market in terms of value, followed by Europe. This can be attributed to extensive R&D activities in pharmaceutical and biotechnology industries, increasing government funding for life sciences research, and presence of major players in these regions. The Asia Pacific market is anticipated to witness highest growth owing to rising biopharmaceutical production, increasing awareness, and growing healthcare expenditure in countries like China and India.
Fastest Growing Regional Market
The Asia Pacific chromatography resins market is poised to grow at fastest pace during the forecast period. This is majorly driven by expanding biopharma industry, outsourcing of production to Asia, growing public & private investments in research & development, and increasing disease prevalence. Additionally, growing awareness about drugs and therapies, rising standards of living, healthcare reforms, and improving access to services are positively impacting market growth in Asia Pacific.
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Money Singh is a seasoned content writer with over four years of experience in the market research sector. Her expertise spans various industries, including food and beverages, biotechnology, chemical and materials, defense and aerospace, consumer goods, etc. (https://www.linkedin.com/in/money-singh-590844163)