The global Chromatography Resin Market size is expected to reach USD 2.86 billion by 2025, according to a new report by Grand View Research, Inc. It is anticipated to expand at a CAGR of 6.5% over the forecast period. Growing number of Contract Research Organizations (CRO) and Contract Manufacturing Organizations (CMO) and use of chromatography in food quality and safety testing is propelling the market.
Flourishing pharmaceutical sector in Asia Pacific, especially in China and India, owing to abundance of high-skilled workforce and increasing disposable income are some of the factors positively influencing the market. In addition, guidelines issued by food regulatory authorities for safety and quality of food and beverages are expected to further fuel market expansion.
Rising demand from The food and beverages (F&B) sector due to high awareness among public regarding quality and safety of food products is pushing food manufacturers to do strict food checks of their products. This, in turn, is anticipated to boost adoption of chromatography resin in F&B sector.
The ion exchange resin and size exclusion resin segments are expected to collectively account for 60.0% of the global market by 2025. Demand for these products is attributed to rise in drug discovery processes requiring chromatography technique to separate complex mixtures and to purify materials. In addition, use of chromatography in water treatment is projected to boost product demand over the forecast period.
North America was leading the market due to presence of several global pharmaceutical giants. Huge healthcare expenditure coupled with stringent food safety regulations set by authorities such as the U.S. Food and Drug Administration (FDA) is expected to propel the regional market.
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Further key findings from the report suggest
- The chromatography resin market is projected to progress at a CAGR of 6.5% from 2017 to 2025, thanks to booming pharmaceutical sector. Synthetic resin will witness the fastest growth in terms of revenue at a CAGR of 7.2% over the forecast period, owing to its high productivity
- Asia Pacific is anticipated to witness substantial development and was valued at USD 608.9 million in 2016 owing to rising disposable income and pharmaceutical companies
- Key market include Merck KGaA; GE Healthcare Lifesciences; Tosoh Corp; Purolite Corp; Danaher Corp; Mitsubishi Chemical; W.R Grace; Thermo Fisher, Inc.; and Bio-Rad Labs. These companies are focused on increasing productive resin types and finding innovative applications
- In November 2015, Merck KGaA acquired Sigma-Aldrich. This acquisition would enable Merck to foray into the market.
