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Global Chromatography Resins Market 2019 by Manufacturers, Regions, Type and Application, Forecast to 2024
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Chromatography is an essential technology used for the purification of the biomolecules. Demand for the resins used for chromatography applications is growing with the rising applications of this technique. Chromatography resins are used in the process of separation and purification of the products and biomolecules in various methods used across different industrial verticals. Rising demand from different industries and technological advancements in the market are expected to create strong growth for the global chromatography resin market. Advancements of the emerging markets and various emerging industrial verticals like pharmaceuticals are expected to help this industry to maintain a steady growth in the next few years to come.
The global sales of Chromatography Resin increased from 800.3 K L in 2013 to 1035.9 K L in 2017, at a CAGR of 6.66%. In 2017, the global Chromatography Resin market is led by North America. The global Chromatography Resin market is valued at 1146.70 M USD in 2017 and is expected to reach 1673.37 M USD by the end of 2023, growing at a CAGR of 6.50% between 2017 and 2023.
North America Chromatography Resin market is estimated to be valued at 557.70 USD Million in 2017 and projected to expand at a CAGR of 6.40% over the forecast period to reach value of 809.12 USD million by 2023. North America holds the highest market share on account of its pharmaceutical and biotechnology industries. USA will continue to play a leading role in the global biomedical industry. The presence of a large pool of manufacturers, as well as vendors of chromatography resins, in North America, is the key factor behind the growth of the regional market. The United States accounts for the highest market share in the chromatographic resins market. It is also expected to grow considerably during the forecast period, driven mainly by growing demand in pharmaceutical and biotechnology applications.
The Europe market is mature and developed stably in the past few years and will keep the trend in the next years, it was 305.99 USD Million in 2017 and will reach 444.82 USD million in 2023, with a CAGR of 6.43% between 2017 and 2023. But in 2017, Europe is also full of much uncertainty, from political elections, trade policy and historical problems. In Europe market, Germany, UK, France and Italy are playing significant roles, especially Germany, UK and France, which has absolute predominance in Europe market. The European market is increasingly becoming the growth center for the global market. The metabolomics market across Germany and the U.K. is slated to show a significant growth during the forecast period of 2014 to 2019. A higher CAGR in these markets is mainly due to the increase in research funding from the respective governments and private investors and growing demand for personalized medicine.
The Asia-Pacific will take an increasing significant part in global Chromatography Resin market, due to the strong demand from China, India and Southeast Asian countries. It was 189.28 USD million in 2017 in Asia-Pacific, and it is predicted that the market size will reach 286.46 USD million in 2023, with a market share of 17.12% in global Chromatography Resin market.
In South America, Brazil is dominating the market, due to its huge population and massive economies of scale. In Middle East and Africa, Saudi Arabia, Egypt, Nigeria and South Africa are the top players and occupy for a major proportion.
The global chromatography resin market is strongly driven by three crucial driving factors. These factors include rapid growth in the pharmaceutical industry, especially the demand from Asia Pacific regions, growth in the use of separation technique in the food industry and rising demand for monoclonal antibody therapeutics. Chromatography resin downstream is wide and recently chromatography resin has acquired increasing significance in various fields of monoclonal antibodies, non-antibody protein, polyclonal antibodies and others. Globally, the chromatography resin market is mainly driven by growing demand for monoclonal antibodies.
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