Chromatography Resin Industry’s Thriving CAGR of 7.5% on its Path to US$ 2.8 Billion by 2033 | FMI Analysis

The Chromatography Resin Industry is poised for a remarkable ascent, with market share value expected to surge from US$ 1.4 billion in 2023 to an impressive US$ 2.8 billion by 2033. This substantial growth trajectory is underpinned by a projected compound annual growth rate (CAGR) of 7.5% from 2023 to 2033.

This remarkable expansion is being fueled by several key factors, including the escalating demand for biosimilars and the expanding landscape of pharmaceutical and biopharmaceutical Research and Development (R&D) activities. Over the past decade, chromatography resins have experienced significant demand, particularly in the field of drug discovery, driven by a substantial increase in pharmaceutical and biopharmaceutical R&D endeavors.

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The main driver for the chromatography resins market is huge demand for monoclonal antibodies. Huge demand for monoclonal bodies is on account of the number of growing critical diseases resulting in these types of therapeutics to swiftly gain significance.

Biotechnology & pharmaceutical are the leading end-users for chromatography resins and are likely to gain more importance in near future. Food manufacturing was second-largest end-user application for chromatography resins.

Chromatography resins are also used in industrial applications, genetic engineering and drug recovery. However, presence of stringent regulations regarding manufacture and usage of this product is expected to hamper the growth of the market over the next few years.

Research & development in chromatography resin for various applications is expected to open new opportunities for the growth of the market.

In technology terms, ion-exchange chromatography had the highest consumption in past few years. Though, affinity chromatography resins hold the key share of the revenue. This is mainly due to the higher selling costs associated with affinity resins.

Demand for chromatography resins was highest in North America. However, there is huge demand for chromatography resins from Asia Pacific region due to the growing pharmaceutical industry, particularly in India, China and South Korea. Additionally, the emergence of CMOs and CROs is driving the chromatography resins market in Asia Pacific region. Europe is expected to show steady growth over the forecast period.

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Dynamic Competitive Landscape

Within the Chromatography Resin Industry, a diverse array of both multinational and local players coexist, resulting in a dynamic and non-consolidated industry. As per FMI’s analysis, the global Chromatography Resin Industry is prominently led by the top five major players, who collectively commanded a substantial 70% of the revenue share in 2021. These industry frontrunners include Bio-Rad Laboratories, Inc., GE Healthcare, Tosoh Corporation, Merck KGaA, and Thermo Fisher Scientific Inc.

GE Healthcare, Thermo Fisher, and Merck distinguish themselves with expansive product portfolios, extensive distribution networks, and a remarkable degree of operational integration. Furthermore, these key players have made significant investments in research and development (R&D), yielding a range of innovative products that have transcended niche markets, contributing to the market’s ongoing evolution.

Some of the key players in the chromatography resins market are

1. Bio-Rad Laboratories Inc.
2. GE Healthcare Life Sciences
3. Tosoh Corporation
4. Merck KGaA
5. Life Technologies Corporation
6. Pall Corporation

This research report presents a comprehensive assessment of the market and contains thoughtful insights, facts, historical data and statistically-supported and industry-validated market data and projections with a suitable set of assumptions and methodology.

It provides analysis and information by categories such as market segments, regions, product type and distribution channels.

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Chromatography Resin Industry Segmentation by Category

By Product Type:

• Native
• Synthetic

By Technology Type:

• Affinity Chromatography
• Anion Exchange Chromatography
• Cation Exchange Chromatography
• Size Exclusion
• Hydrophobic Interaction

By End User Type:

• Biopharmaceutical Companies
• Clinical Research Organizations
• Academic Institutes

By Region:

• North America
• Latin America
• Europe
• The Middle East and Africa
• East Asia

 Author

Sabyasachi Ghosh (Associate Vice President at Future Market Insights, Inc.) holds over 12 years of experience in the Healthcare, Medical Devices, and Pharmaceutical industries. His curious and analytical nature helped him shape his career as a researcher.

Identifying key challenges faced by clients and devising robust, hypothesis-based solutions to empower them with strategic decision-making capabilities come naturally to him. His primary expertise lies in areas such as Market Entry and Expansion Strategy, Feasibility Studies, Competitive Intelligence, and Strategic Transformation.

Holding a degree in Microbiology, Sabyasachi has authored numerous publications and has been cited in journals, including The Journal of mHealth, ITN Online, and Spinal Surgery News.

About Future Market Insights (FMI)

Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5,000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.

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