Chromatography silica resin is used to separate and collect different components of a drug in the pharmaceutical industry. It helps in the purification of antibiotics such as coloradocin, rosarimicin, and benzanthrins also useful in the study of medicine such as hypnotics, analgesics, sedatives, steroids, and local anesthetics. Food and beverage, pharmaceutical, agriculture, biotechnology, academic institutes, and R&D labs are some of the major end-user industries of the chromatography silica resin. Moreover, it is also gaining huge demand from other healthcare segments such as nutraceuticals and gene testing.
The global chromatographic silica resin market was estimated to account for US$ 83.8 million in terms of revenue in 2018 and is predicted to grow at a CAGR of 4.1% during the forecast period (2019 to 2027).
Drivers
Rising usage of silica gel column chromatography in R&D activities associated with the biopharmaceutical is projected to propel the market growth. For instance, in 2015, the Pharmaceutical Research and Manufacturers of America's (PhRMA) member companies invested US$ 51 billion on R&D activities, new innovative treatments and cures for meeting the rising need demand from the U.S. companies and emerging markets in China and India is expected to drive the growth of chromatographic silica resin market in near future.
Market Opportunities
Rising application of chromatography silica resin across the food and beverage industry for detecting the presence of a hazardous ingredient in the food product and to ensure the quality of food is expected to foster the market growth of chromatography silica resin. Also, in the food industry, it is used across various other applications such as the separation of vitamin C, analysis of nutritional quality of food, spoilage detection, and sugar content analysis. Therefore, the rising application of chromatography silica resin across the food and beverage industry is projected to foster market growth over the forecast timeframe.
Market Restraints
Availability of substitute for chromatography silica resin such as activated alumina which is popular for its excellent purification and separation technique. Also, due to its versatile applications and the lower cost makes it an ideal choice of material over silica resins. Moreover, activated alumina is very versatile, affordable, and easy to use which makes it an ideal substitute for silica gel. Hence, the rising application of activated alumina as a substitute for chromatography silica resin is expected to hinder the market growth.
Key Takeaways:
Among end use, pharmaceutical & biotechnology dominated the global chromatographic silica resin market in 2018 with a 95.1% of market share in terms of revenue, followed by food and chemical industry.