Agarose Resin Market to See Growth this Decade despite COVID-19 Impact Now, Fact.MR
The agarose resin market is likely to record an impressive CAGR of 10% over the assessment period, 2020-2030. The growth can be primarily attributed to extensive use in the downstream procedure of DNA and protein separation. Further, use of agarose resin to improve the property of DNA or protein in the chromatographic separation procedure is likely to provide substantial opportunities to market players.
“As a result of rampant growth of protein and biotherapeutic drug production, East Asia is poised to surpass developed region such as North America and Europe by the end of the forecast period.” says the Fact.MR report.
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Agarose Resin Market- Key Takeaways
- North America is anticipated to remain the largest market, however, East Asia will foresee a rapid growth throughout the forecast period.
- Biopharma companies will offer long-term thrust to the expansion of the market, throughout 2020-2030.
- Antibody purification is anticipated to account for three-fifth of the overall market share.
- 2%, 4%, and 6% will be gaining traction in the global market in terms of concentration of agarose.
Agarose Resin Market – Driving Factors
- Increasing demand for protein-based drugs across the globe will complement the market growth in the coming years.
- A rise in research activities in the fields of biopharmaceuticals and virology has prompted a rise in demand for agarose resin.
- Extensive use in the biotherapeutics sector along with vaccine purification boosts demand.
Agarose Resin Market – Constraints
- Growing awareness about alternate methods to purify vaccines will impact the growth of the global market.
- A price hike due to rapid rise in demand for agarose resin amid COVID-19 might challenge the market growth.
Anticipated Market Impact by COVID-19 Outbreak
The COVID-19 pandemic is poised to offer a positive growth trajectory to the agarose resin market in short-term projected period. Rapid vaccine trials across nations will generate the requirement for vaccine purification, which will led to downstream raw material, i.e. agarose resin.
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The global market for agarose resin is consolidated, with most of players located in North America, for instance, Purolite and Cytiva Life Sciences, together account for around 4/5th of the overall market share. Major market players operating in the global market include GE Healthcare, Cytiva, Purolite, Bio-Work Technologies, Bio Rad Laboratories, and Cube Biotech.
More on the Report
The Fact.MR’s market research report provides in-depth insights into the agarose resin market. The market is scrutinized based on concentration (2% to 4%, 4% to 6%, 6% to 8%, and more than 8%), application (protein purification, antibody purification, immunoprecipitation, and others), and end use (biopharma companies, clinical research laboratories, and academic & research institutes), across five major regions (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa (MEA)).