The chromatography resin market has been forecast to increase at a compound annual growth rate (CAGR) of 7.2% over the next five years, increasing from a value of $1.2 billion in 2012 to reach a total of $1.9 billion by 2018.
The chromatography resin market is expected to grow at a decent pace during the coming decade driven by its increasing application in monoclonal antibody production and food analytics.
Chromatography resins are primarily of two types; natural and synthetic. Inorganic media is also used in different chromatography processes.
These resins are used in separation and purification of proteins and other biomolecules in pharmaceutical and biotechnology, food production, and water and environmental analysis.
In industrial scale, pharmaceutical and biotechnology is the largest consumer of chromatography resins followed by food production.
According to a recent market report, 'Chromatography Resin Market: Trends & Forecast to 2018,' North America has the highest market share of chromatography resins in terms of both consumption and revenue, followed by Europe.
The revenue from sales of resins in food production industry in North America is expected to record the highest CAGR over the next five years.
However, in Asia-Pacific the chromatography resin consumption shows huge potential to grow in the pharmaceutical sector. The growing biosimilars market in emerging economies such as South Korea, India and China is expected to drive the chromatography resins market throughout the coming decade.
The Asia-Pacific market for chromatography resin is expected to grow at a CAGR of 9.7% from 2013 to 2018.
Key players currently dominating the chromatography resin market include GE Healthcare Life Sciences (U.S.), Bio-Rad Laboratories Inc. (U.S.), Merck KGaA (U.S.), Tosoh Corporation (Japan), Pall Corporation (U.S.), and Life Technologies Corporation (U.S.).
The chromatography resins industry is highly consolidated and organic expansion is the preferred growth strategy adopted by the leading players.
For more information on the chromatography resins market, see the latest research: Chromatography Resins Market
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