North America Chromatography Resins Market - Segmented by Application, Technology, Origin, and Geography - Growth, Trends and Forecasts (2018 - 2023)
In 2017, the North America chromatography resins market was valued at USD 692.20 million. The market is expected to register a CAGR of nearly 6.21% during 2018-2023 (the forecast period). The United States accounted for the largest share, accounting for more than 85% of the regional market, while Mexico is anticipated to register the fastest CAGR over the forecast period, 2018-2023.
Significant Growth in Demand for Chromatography Tests, as a Part of Drug Approvals
Over the last two decades, the major characteristic, supporting the development in the methodology of pharmaceutical and biomedical analysis, is that the chromatography has become the most important analytical method for identification, quantification, and testing of drugs, either in its active pharmaceutical ingredient or formulations during the process of the discovery, development, testing, and manufacturing. The United States has the most stringent standards for approving new drugs. The demand for the US drug approval standards is high throughout the world. Similar to these requirements, there are two regulatory steps to go through before a drug is approved in the European Union. These two steps are clinical trial application and marketing authorization application. These factors are likely to boost the demand for chromatography resins.
Pharmaceuticals to Dominate the North American Market
The utility in separation and analysis of biomolecules, based on the biological functions or individual structures in the pharmaceutical industry & biotechnology, is growing in popularity. The advancement in recombinant DNA technology in the biotechnology industry have led to the discovery of techniques for isolating the genes for individual proteins, expressing these proteins in microbial or mammalian cell culture and recovering the heterologous protein in active form. Chromatography requires high-scale usage of chromatography resins. Chromatography resin is one of the major contributors to the cost of goods for the production of a biotechnology therapeutic. Currently, in terms of consumption, North America is the leader of chromatography resins in biotechnology applications. North American countries are spending heavily in R&D activities to get advanced in the field of biotechnology.
Mexico to Expand at the Fastest Rate
In North America, Mexico has the second-largest pharmaceutical industry. It is one of the major producers of advanced medicines, such as anti-inflammatory drugs, antibiotics, etc. The growing population, along with the rising level of exports in the Latin American market, has boosted the pharmaceutical industry in this region. Chromatographic resin finds a major usage in the food processing industry. Mexico has the second-largest food processing industry in North America and eighth largest in the world.
Key Developments in the market
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