Chromatography Resins Market Analysis, Size, Growth, Share, Trend, Outlook & Forecast to 2027
The global chromatography resins market size is anticipated to reach USD 3.5 billion by 2027, expanding at a CAGR of 7.8%, according to a new report by Grand View Research, Inc. The growth in the market can be attributed to increasing demand for therapeutic antibodies for the treatment of patients. In addition, expanding end-use applications due to continuous innovation are expected to propel market growth in the near future. Extensive research and development activities in the chromatography resin industry has triggered the production of new resin products, which have better productivity in comparison to conventional resins. Chromatography has gained a substantial market space in the past few years across several end-use industries concerning its high accuracy and ease of use. Nonetheless, the existence of stringent government regulations and safety standards across food and beverages and pharmaceutical sectors are projected to restrain market growth over the forecast period. Shift in the trend towards the substitution of conventional separation techniques, including distillation and filtration, with chromatography has driven invention for the chromatography applications in several novel segments. The industry is observed to be oligopolistic in nature. The top players account for approximately 65.0% market share across the globe. Other players have a strong foothold over the remaining market share. The pricing and various other strategic initiatives of the market depend on the top market players.