Chromatography Resin Market will expand at a healthy CAGR of 8.9% during the forecast period (2017-2027)
Surging demand for chromatography technology from various research & development, and diagnostics industries will drive growth of the global chromatography resins market. Future Market Insights (FMI), in its report, projects the market to register an impressive 8.9% CAGR during the forecast period 2017 to 2027. In 2016, the market was evaluated at revenue worth US$ 719 Mn; by 2027-end it is estimated to reach nearly US$ 2,000 Mn. The global chromatography resins market is anticipated to witness an incremental opportunity of over US$ 1,000 Mn between 2017 and 2027.
Increasing Enhancements in Automation of Sample Handling Processes to Drive Market Growth in North America
Research laboratories and biopharmaceutical companies in North America are increasingly focusing on enhancements in automation of sample handling processes. This is expected to drive demand for high throughput advanced chromatography columns and media, thereby fostering the market growth in this region. In addition, soaring advancements in chromatography technologies for separation & purification of complex bio-substances and bio-molecules will further boost demand for high-end, advanced chromatography resins in North America. However, stringent rules & regulations imposed by the U.S. FDA on new product launches is likely to hinder growth of the market in North America.
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Cost-effective purification technology is being highly implemented in Western Europe for separation of enantiomers, isomers and several active pharmaceutical ingredients. This further promotes purity and offers higher productivity to biopharmaceutical industries, which in turn will drive growth of the global chromatography resins market in this region. In addition, increasing availability and demand for branded resin products, which are more costly, are other factors expected to fuel growth of the market in Western Europe. In contrast, continuous evaluations and improvements in novel alternatives to chromatography resins are estimated to impede the market growth in this region.
North America will Remain the Largest Market for Chromatography Resins
North America will remain the largest market for chromatography resins, with sales expected to reach nearly US$ 600 Mn by 2027-end, followed by Western Europe and Asia Pacific Excluding Japan (APEJ). In addition, APEJ is estimated to register fastest expansion at 9.4% CAGR through 2027. Although Middle East & Africa (MEA) accounts for lowest share of the market, this region is expected to be the second-fastest growing market for chromatography resins by 2027-end.
By product type, synthetic chromatography resins are expected to remain preferred in the market, with sales expanding at 9.1% CAGR through 2027. Revenue generated from sales of native chromatography resins in the market will remain low during the forecast period.
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Affinity Chromatography Continues to be the Most-used Technology in the Market
Affinity chromatography will continue to be the most used technology in the global chromatography resins market. Revenue amassed from sales of affinity chromatography technology is expected to reach US$ 679.6 Mn by 2027-end. Hydrophobic interaction chromatography technology and affinity chromatography technology are expected to exhibit parallel expansion at 9.3% CAGR through 2027.
Biopharmaceutical companies will remain the largest end-users of chromatography resins across the globe, followed by academic institutes. Sales of chromatography resins to biopharmaceutical companies is projected to register 9.2% CAGR, to reach nearly US$ 800 Mn in revenue by 2027-end.
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Key market players identified in FMI’s report include 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, Tosoh Bioscience, Avantor Performance Materials Inc., Mitsubishi Chemical Corporation, W.R. Grace & Co., JSR Micro Inc., Life Technology Corporation.