Glutathione Resin Market 2022 Growth, Cost Analysis and Forecast till 2030

According to the Market Statsville Group (MSG), the global glutathione resin market size is expected to grow from USD 442 million in 2021 to USD 921 million by 2030, at a CAGR of 8.9% from 2022 to 2030.

Growing investments in the development of structure-based therapeutics and technological developments by both public and commercial research institutions are boosting the need for protein purification, making it the most popular application category and driving product demand. With the growing world's population, the demand for vaccinations, pharmaceutical medications, and high-quality proteins results in market expansion. Over the projection period, increased government regulations will likely limit market growth to some extent.

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Global Glutathione Resin Market Definition

Due to its beneficial characteristics, glutathione is widely employed in various applications, including cosmetics and nutraceuticals. The product is one of the most commonly used skin whitening agents in the cosmetic sector. In today's market, skin whitening agents are widely available, whether intravenous, oral, or topical. Thus, glutathione demand will rise over the forecast period, particularly in the cosmetics industry.

Global Glutathione Resin Market Dynamics
Drivers: Growing pharmaceutical industry
The rapidly increasing pharmaceuticals business is driving market expansion. According to the International Federation of Pharmaceutical Manufacturers & Associations, in 2018, 59 new medicines were introduced, with over 8,000 compounds now in various stages of development around the world. In 2020, Cancer had 2,740 medications in development, Immunology had 1,535, Neurology had 1,498, and Infectious illnesses had 1,213 drugs in development. Furthermore, glutathione is a tripeptide that can be found in various pharmaceutical goods. Thus, it functions as an antioxidant, protecting cells from free radical damage and detoxifying contaminants such as pesticides, heavy metals, chemicals, and so on; it also removes poisons produced during respiration. Glutathione, on the other hand, protects against radiation and decreases the toxicity of chemotherapy medications. Furthermore, rising health and safety consciousness, a rapidly growing population, and the continuing development of bespoke affinity bioprocess resin all contribute to market growth.

Restraints: Fluctuation in raw material prices
The high prices of raw materials and the high expenses associated with resin production are limiting industry expansion. As a result, oxidized or reduced glutathione is an important raw ingredient in producing glutathione resins. This may further affect the supplier's bargaining power in the growing market era. Further, COVID leads to high prices of various raw materials, challenging for various SMEs to cope with minimal operating costs. Thus, high raw material prices and high processing costs have a substantial impact on market growth.

Opportunities: Growing adoption of glutathione in the cosmetic industry
Besides its therapeutic benefits, glutathione is becoming increasingly popular as an ingredient in cosmetic goods due to its skin-lightening properties. It helps to eliminate tan from the skin and makes it beautiful and light. It is also used as an anti-aging substance as it helps to reduce pigmentation and wrinkles. Further, the growing number of working women globally is another factor that increases the market demand. The increased glutathione applications in cosmetics give significant expansion opportunities for the market players to access wide numbers of customers from diversified industries.


COVID-19 Impact on the Global Glutathione Resin Market
The COVID-19 pandemic had a moderate influence on the market in 2020, owing to supply-demand constraints in key global economies. Furthermore, the pandemic had an impact on many end-use industries, which had an impact on overall market growth. However, due to the stability of these industries, significant end-use applications such as pharmaceuticals, biotechnology, and others are expected to drive product demand.

Scope of the Global Glutathione Resin Market
The study categorizes the glutathione resin market based on type, product type, and application at the regional and global levels.

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By Product Type (Sales, USD Million, 2017-2030)
Oxidized Glutathione
Reduced Glutathione
By Application (Sales, USD Million, 2017-2030)
Protein Purification
Immunoprecipitation (IP)
Research
Others
By Region (Sales, USD Million, 2017-2030)
North America
US
Canada
Mexico
Europe
Germany
Italy
France
UK
Spain
Poland
Russia
The Netherlands
Norway
Czech Republic
Rest of Europe
Asia Pacific
China
Japan
India
South Korea
Indonesia
Malaysia
Thailand
Singapore
Australia & New Zealand
Rest of Asia Pacific
South America
Brazil
Argentina
Colombia
Rest of South America
The Middle East & Africa
Saudi Arabia
UAE
South Africa
Northern Africa
Rest of MEA
Protein purification segment is projected to account for the largest market share, by application
In 2021, the protein purification segment accounted for the largest market share in the global glutathione resin market. The rising demand for protein extraction from complicated mixtures and increased research in biotechnological and pharmaceutical industries were cited as reasons for the high share. To generate COVID-19 vaccines, companies have developed protein purification technologies. Newer methods, such as the CL7/Im7 system, allow researchers to isolate and purify protein with better yields. Purified proteins are employed in vaccine development, immunological investigations, protein-DNA interactions, and protein-protein interactions.

APAC accounts for the highest CAGR during the forecast period

Globally, APAC is estimated to hold the highest CAGR in the global glutathione resin market during the forecast period. This share is due to increased government support for domestic manufacturing, which is expected to enhance production levels and reduce reliance on imports in the Asia Pacific, providing lucrative opportunities for global manufacturers. Moreover, the growing pharmaceutical in the region will likely grow the market's demand over the forecast period. For instance, as per India Brand Equity Foundation, the Indian pharmaceutical industry meets more than half of the global demand for numerous vaccines, around 40% of generic demand in the United States, and 25% of total medicine in the United Kingdom. The domestic pharmaceutical sector comprises 3,000 pharmaceutical businesses and 10,500 manufacturing units. India holds a significant place in the global pharmaceutical industry.

Additionally, as per China.org.cn, In 2021, the combined sales of China's pharmaceutical enterprises increased by 18.7 percent year on year, the fastest growth rate in five years. In the same year, companies in this area will earn 3.37 trillion yuan (approximately 502 billion US dollars) and research and development will also yield exponential growth. Thus, the growing pharmaceutical industry in the region's major economies will create a lucrative growth opportunity for the glutathione resin market over the forthcoming period.

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Key Market Players in the Global Glutathione Resin Market
The global glutathione resin market is highly competitive, with key industry players adopting strategies such as product development, partnerships, acquisitions, agreements, and expansion to strengthen their market positions. Most market companies focus on expanding operations across regions, augmenting their capabilities, and building strong partner relations.

Major players in the global glutathione resin market are:

Merck KGaA
Bio-Rad Laboratories, Inc.
Thermo Fisher Scientific, Inc.
Cytiva
GenScript
Takara Bio Inc.
Mitsubishi Corporation Life Sciences Limited
Cepham Life Sciences
GoldBio
Abcam plc

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Market Statsville Group (MSG) partners with companies and society to confront their essential risks and challenges to capture the enormous opportunities for them. MSG initiated its work in 2017, and since then, the brand is moving to become a pioneer in business advisory and market research services.

This release was published on openPR.