The chromatography resin market size is projected to reach USD 4.1 billion by 2028 from USD 2.8 billion in 2023, at a CAGR of 8.2%. The growth of the chromatography resins market is encouraged by the huge demand from the pharmaceutical and biotechnology industries. Chromatography is a process of separating components of a mixture. The process starts with the mixture being dissolved in a substance called the mobile phase and further being carried through a second substance termed the stationary phase. Increasing demand for biosimilars is driving the market for chromatography resin.
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Based on type, Natural polymer was the largest segment of the chromatography resin market, in terms of value, in 2022, while the synthetic resins segment is projected to register the highest CAGR between 2023 and 2028. Base oil is the primary material used for blending lubricants. The high demand for natural polymers is mainly due to their hydrophilic nature, as they have a large number of hydroxyl groups in their structure.
Based on application, the pharmaceutical and biotechnology application held the largest share of the market and is projected to see the fastest rate of value growth between 2023 and 2028. This is a result of the biotechnology industry’s increased R&D spending. R&D in therapeutic fields like cancer, HIV/AIDS, and immune disorders, as well as technology advancements, are growing. The growing number of drug discovery and clinical trial projects, the patent expiration of blockbuster drugs and biomolecules, and increasing pharmaceutical and biotechnology companies’ focus on expanding their product pipelines are some of the major factors boosting this market’s growth in biotechnology research.
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In 2022, the chromatography resin market was dominated by North America. The region’s demand for chromatography resin is being driven by the active R&D efforts in therapeutic monoclonal antibodies in oncology and other therapeutic fields. During the forecast period, the market with the fastest-growing value is projected to be Asia Pacific. The demand for chromatography resin in this region is being driven by rising concerns about food safety as well as growing investments in pharmaceutical and life science research.
The chromatography resin market is dominated by key players such as Bio-Rad Laboratories Inc. (US), Merck KGaA (Germany), Danaher Corporation (US), Tosoh Corporation (Japan), Bio-Works Technologies AB (Sweden), Avantor Performance Materials, Inc. (US), Mitsubishi Chemical Corporation (Japan), among others. These players have a strong position in the global chromatography resin market as well as a strong distribution network across the globe.
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