CHROMATOGRAPHY RESINS MARKET SIZE AND SHARE ANALYSIS - GROWTH TRENDS AND FORECASTS (2024-2031)

The high cost of chromatographic instruments and resins is posing a serious challenge for the widespread adoption of chromatography techniques. Chromatography processes require specialized instruments equipped with sophisticated control systems for efficient separation, detection, and analysis of samples. These instruments such as liquid chromatographs, gas chromatographs, and other allied equipment involve significant capital investment running into several thousands of dollars. Moreover, the need for periodic upgrades and replacement of some components to keep instrumentation up-to-date also contributes to the overall operational expenses. The resins used for sample purification and separation are also expensive, with the price varying based on their grade, polymeric structure, particle size, and functionality.

Market Opportunities: Emerging economies in Asia Pacific and Latin America

Emerging economies in the Asia Pacific and Latin America regions provide massive opportunities for growth in the chromatography resins market. These regions are witnessing rapid industrialization and expansion in sectors like pharmaceuticals, biotechnology, and life sciences. Countries like India, China, Brazil, and Mexico are emerging as global manufacturing hubs for bulk drugs, generics, and biosimilars. According to UN Comtrade data for 2021, India and China collectively accounted for over 60% of global exports in basic pharmaceutical products and 30% in medical instruments. Their bulk drug exports grew at an annual rate of 10-15% between 2020 and 2022. This points towards a huge demand for various separation technologies like chromatography in these nations.