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Jan 28, 2020 10:00 AM ET

Chromatography Resin Market Projected to Reach $3.0 billion by 2024

iCrowd Newswire - Jan 28, 2020

According to the new market research report Chromatography Resin Market by Type (Natural, Synthetic, Inorganic Media), Technique (Ion Exchange, Affinity, Hydrophobic Interaction, Size Exclusion, Multimodal), Application (Pharma & Biotechnology, Food & Beverage), Region – Global Forecast to 2024″, The global chromatography resin market size is projected to reach USD 3.0 billion by 2024, at a CAGR of 7.2%, from USD 2.1 billion in 2019.

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The global chromatography resin market size is projected to reach USD 3.0 billion by 2024 from USD 2.1 billion in 2019, at a CAGR of 7.2%, between 2019 and 2024. Increasing demand for therapeutic antibodies is the major driving factor of the chromatography resin industry. The growing biopharmaceutical R&D activities and increasing use of separation techniques in the food industry are also the major driving factors of the chromatography resin market.  Chromatography is an essential step in the purification of monoclonal antibodies (mAbs). Over the past decade, there has been a tremendous increase in the demand for monoclonal antibodies in oncology and several other therapeutic treatments of Alzheimer’s, and autoimmune and inflammatory disorders. The demand for therapeutic treatments has been growing due to the increasing number of patients. As a result, almost all the major pharmaceutical companies have undertaken R&D of therapeutic antibodies. The growth of the market is closely connected to the growth of the pharma & biotech, food & beverage, and water & environmental analysis industries.

The natural polymer segment accounted for the largest share of the chromatography resin market in 2018 due to its demand from industrial scale, where the conditions are moderate. These natural polymers are further processed to achieve a greater degree of cross-linkage, thereby achieving reasonable mechanical strength. Wide application of natural polymer in the industrial-scale purification of biomolecules results in higher consumption of these resins in comparison to synthetic polymer. Natural polymer used in chromatography techniques is extracted from living cells, such as plant and bacteria cells. Agarose, cellulose, and dextran are the natural polymers that are most commonly used as resins in chromatography applications.

Browse and in-depth TOC on “Chromatography Resin Market – Global Forecast to 2024”

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The chromatography resin market size is projected to reach USD 3.0 billion by 2024 from USD 2.1 billion in 2019, at a CAGR of 7.2% between 2019 and 2024. The growth of the chromatography resin market is primarily triggered by the increasing demand for chromatography by the biopharmaceutical and food industries. The factors hindering the growth of the chromatography resin market are the high cost of affinity resins and the lack of adequate skilled professionals. However, research and innovation in the field of pharmaceutical field will help to overcome these factors. The rise of Contract Manufacturing Organization (CMOs) and Contract Research Organizations (CROs) in the pharmaceutical industry, increasing demand for biosimilars, growing demand for disposable pre-packed columns, and increasing use of LC-MS in analytics & research will provide the market with huge opportunities. The players in the chromatography resin market are mainly concentrating on new product launches, acquisitions, agreements, and expansions to meet the growing demand for chromatography resin from various applications. New product launches help the companies strengthen their product portfolio and meet the specific demands of customers.

The growth of the chromatography resin market has been largely influenced by new product launches, acquisitions, contracts & agreements, and expansions that took place between 2014 and 2018. GE Healthcare (US), Merck KGaA (US), Bio-Rad Laboratories (US), and Thermo Fisher Scientific Inc. (US), Tosoh Corporation (Japan), Mitsubishi Chemical Corporation (Japan), Pall Corporation (US), Purolite Corporation (US), Repligen Corporation (US), and Avantor Performance Materials Inc. (US) adopted acquisitions, expansions, contracts & agreements, and new product launches to enhance their product offerings.

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GE Healthcare (US) has the largest share in the chromatography resin market because of its vast sales network in North America, Asia, and Europe. A strong sales network along with strategies, such as new product launches, investments, and agreements, are driving the company’s growth in the chromatography resin market. It is one of the frontrunners in the chromatography resin business catering to a diverse range of application segments. Its focus is on expansion through global reach for chromatography resins in the developing APAC region. In order to meet the increasing market demand, the company is expanding its business by focusing mainly on new product developments, agreements, and innovations in technology. For instance, GE Healthcare opened a manufacturing site in the Stevenage Bioscience Catalyst Open Innovation Campus in November 2018. The facility will be focused on producing fiber-based purification products. This will enable the company to widen its chromatography-based product portfolio.

Tosoh Corporation (Japan) is focused on organic growth. As a part of the company’s business strategy, it has undertaken several new product launches to provide chromatography resins for different techniques to its customers. Tosoh Corporation is focused on positioning its chromatography business segment to capitalize on the expected high market growth through the development of innovative products and technologies. The company already has a significant presence in APAC, and is now focused on increasing its market share in Europe and North America. For instance, Tosoh Corporation acquired a stake in Semba Biosciences Inc. (US), a life science supply company in January 2019. This will enable the company to expand its chromatography and related businesses. Strategies, such as new product launch and expansion, have enabled the company to meet the growing demand for chromatography resin and strengthen its market position.

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Keywords:    Chromatography Resin Market, ION Exchange Chromatography Resin Market, Affinity Chromatography Market, ION Exchange Resins

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