Chromatography Resins Market - Forecast (2024 - 2030)
Chromatography Resins Market Overview
The Chromatography Resins Market size is projected to reach US$3.2 billion by 2027, after growing at a CAGR of 7.2% during the forecast period 2022-2027. Chromatography is a technique for separating organic and inorganic compounds. Chromatography resins are substances sourced from organic polymer, inorganic and more that are used to separate bio-molecules. North America is the dominating region as it held the largest Chromatography Resins Market share (34.9%) in 2021. The sectoral growth of the North American countries is expanding due to the growth of the various industries, including medical & healthcare, food & beverage and other such sectors in the region. The growth of the pharmaceuticals industry is the primary factor driving the Chromatography Resins Market growth because chromatography resins are utilized along with polystyrene sulfonate in the manufacturing of pharmaceutical products. However, in 2020, the COVID-19 pandemic caused ripples in the growth of the chromatography resins industry. In 2021, the ease of COVID-19-related regulations spurred the growth of industrial production. Moreover, the booming food & beverage industry is fueling the demand for chromatography resins. As a result, the Chromatography Resins Market size is growing.
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Report Coveragenbsp;
The "Chromatography Resins Market Report–Forecast (2022-2027)” by IndustryARC, covers an in-depth analysis of the following segments in the Chromatography Resins Market.
By Resin Type: Natural Resins, Synthetic Resins and Inorganic Resins.
By Chromatography: Ion Exchange Chromatography (Cation Exchange Resins and Anion Exchange Resins), Affinity Chromatography (Immunoaffinity Chromatography, Protein Purification, Recombinant tagged Proteins and Lectin Affinity Chromatography), Size Exclusion Chromatography, Hydrophobic Interaction Chromatography and Mixed-Mode Chromatography.
By End-Use Industry: Medical & Healthcare (Pharmaceutical, Medical Device and Others), Food & Beverage (Dairy, Sugar, Alcoholic Beverages, Non-alcoholic Beverages and Others), Water Treatment, Chemicals and Others.
By Geography: North America (the USA, Canada and Mexico), Europe (the UK, Germany, France, Italy, the Netherlands, Spain, Russia, Belgium and the Rest of Europe), Asia-Pacific (China, Japan, India, South Korea, Australia and New Zealand, Indonesia, Taiwan, Malaysia and the Rest of APAC), South America (Brazil, Argentina, Colombia, Chile and the Rest of South America) and the Rest of the World [Middle East (Saudi Arabia, the UAE, Israel and the Rest of the Middle East) and Africa (South Africa, Nigeria and the Rest of Africa)].
Key Takeawaysnbsp;
Chromatography Resinsnbsp;Marketnbsp;Segmentnbsp;Analysis – bynbsp;Chromatographynbsp;
The affinity chromatography segment held the largest Chromatography Resins Market share in 2021 and is forecasted to grow at an estimated CAGR of 7.5% during the forecast period 2022-2027. Affinity chromatography is a technique for removing a biomolecule from a mixture that relies on a very particular macromolecular binding relationship between the biomolecule and another component. Affinity chromatography is used for the separation of different biomolecules. Affinity chromatography delivers superior selectivity, resolution and capacity in protein purification strategies. It has the benefit of purifying by exploiting the biological structure or function of a protein. Also, compared to other chromatographic techniques, including hydrophobic interaction, ion exchange and more, affinity chromatography has higher selectivity and separation resolution. Owing to the above-stated advantages, the demand for affinity chromatography is increasing. This factor is accelerating the growth of the Chromatography Resins Market.
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Chromatography Resinsnbsp;Marketnbsp;Segmentnbsp;Analysis –nbsp;bynbsp;End-use Industrynbsp;
The medical and healthcare segment held the largest Chromatography Resins Market share in 2021 and is forecasted to grow at an estimated CAGR of 7.9% during the forecast period 2022-2027. The surge in the development of new medicines, increasing investments in the expansion of pharmaceutical plants and several other factors are driving the production activities in the medical and healthcare industry. For instance, according to the European Federation of Pharmaceutical Industries and Associations (EFPIA), in 2020, the total production of pharmaceuticals in Europe was EURO 310,000 million (approximately US$354,080.76 million), an increase of 5.7% over 2019. Also, according to recent statistics published by India Brand Equity Foundation (IBEF), in 2020, the Indian pharmaceuticals industry was valued at US$42.0 billion and it is projected to reach US$65.0 billion by 2024, an increase of 54.8%. Thus, the growth of medical and healthcare production is fueling the demand for chromatography resins. As a result, the Chromatography Resins Market continues to grow.
Chromatography Resinsnbsp;Marketnbsp;Segment Analysis – by Geographynbsp;
North America is the dominating region as it held the largest Chromatography Resins Market share in 2021 with 34.9%. The sectoral growth across the North American countries is expanding due to the growth of the various industries, including medical & healthcare, food & beverage and other such sectors in the region. For instance, according to current data from the International Trade Administration, Mexico sold US$10.8 billion worth of pharmaceuticals in 2019 and US$11.1 billion worth in 2020, an increase of 2.8 percent. Also, according to Oxford Economics, in 2021, about 22% of the world's manufacturing and 45% of the market for pharmaceuticals come from the US. The ongoing global immunization program and the accumulated demand for both essential and non-essential medical treatments would continue to support strong US pharmaceutical output and sales in 2022. Therefore, the growth of medical and healthcare in North America is fueling the demand for chromatography resins. This, in turn, is accelerating the growth of the Chromatography Resins Market size.
Chromatography Resinsnbsp;Marketnbsp;Driversnbsp;
Surgingnbsp;Application in the Food and Beverage Industrynbsp;nbsp;nbsp;
The need for nutritional consumption is increasing along with people's better standards of living. This factor is driving the growth of the food & beverage industry. For instance, according to the US Department of Agriculture (USDA), in the year 2019, the total production of US dairy products was 18,844 (million Ib) and in 2020, it increased to 19,414 (million ib), an increase of 3.02%. Moreover, according to the Food & Drink Federation of the UK (FDF), the total manufacturing in the year 2018 for food & beverages in the U.K was €28 billion (US$33.07 billion) and in 2019, it was €29 billion (US$32.47 billion) with a total increase of 3.6%. Therefore, the demand for chromatographic resins to ensure food is safe, hygienic and non-toxic is increasing as the food and beverage business expands. As a result, the market for Chromatography Resins is expanding.
Growth in Medical Device Industrynbsp;
Chromatography Resins are used in a variety of medical devices for therapeutic and diagnostic purposes. These tools help people all over the world treat conditions like liver and kidney failure, cystic fibrosis, metabolic disorders, dementia, diabetes, immunodeficiencies and many more. According to the International Trade Administration (ITA), in 2019, the Mexican medical device market was valued at US$15.27 billion, while in 2020, it was US$16.80 billion. There was an increase of 10%. Moreover, Canada is the world's eighth-largest medical device market, valued at around USD$8.6 billion in 2020. Also, according to Invest India, it is forecasted that India’s medical device segment would reach US$50 billion by 2025. Thus, the growth of the medical device industry would continue boosting the demand for Chromatography Resins, which, in turn, would drive the market growth.
Chromatography Resinsnbsp;Marketnbsp;Challenge:nbsp;
Availability of Chromatography Resins Substitutes in Marketnbsp;
Chromatography Resins manufactured from organic polymer, inorganic polystyrene sulfonate and others have several key benefits such as high purification, efficient separation property and more. However, the substitutes for chromatography resins, including high-resolution ultrafiltration, protein crystallization, precipitation, charged ultra-filtration membranes, high-pressure refolding and more, have several similar and superior properties. For instance, although usually less accurate than chromatography, spectroscopy is faster and less expensive per analysis than chromatography. Protein crystallization is an essential method for proving the chemical purity of proteins and for protein purification. This technique is required for X-ray crystallography, a field that has significantly advanced our knowledge of atomic and molecular structure, including that of proteins and nucleic acids. Due to this reason, protein crystallization is used in various medical devices over chromatography resins. Hence, the availability of various substitutes for chromatography resins may create repels in the Chromatography Resins industry growth during the projected forecast period.
Refined Claynbsp;Industry Outlooknbsp;
Technology launches, acquisitions and increased R&D activities are key strategies adopted by players in the Chromatography Resins Market. The top 10 companies in the Chromatography Resins Market are: