Report Ocean conducted research on the global Glutathione Resin market, some important discoveries were made. First, the market is expanding steadily, and over the coming years, demand is expected to rise. Second, there is a lot of market competition, yet only a few major businesses control the sector. Last but not least, there are numerous chances for market innovation and improvement, notably in terms of product offerings and marketing tactics.
In 2020, the global glutathione resin market size was more than USD 307.60 million. The global glutathione resin market is forecast to grow at a compound annual growth rate (CAGR) of more than 7% during the forecast period from 2021-2027.
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An increasing number of research and development activities associated with developing new drugs and vaccines will likely drive the market. Increased production of vaccines & pharmaceutical drugs is driving the global product demand. Research activities are also surging within the medical industry. There are numerous challenges facing glutathione resin suppliers, including glutathione’s high price, an essential raw material in affinity chromatography, and increased government regulations concerning the health of the people, which vary by region.
The key raw material used to manufacture glutathione resin is reduced glutathione or oxidized glutathione. A glutathione resin’s cost structure consists of two components: raw materials and processing. A large portion of glutathione resin’s production cost is due to processing expenses. Raw materials constitute a large share of this cost structure.
Factors Affecting the Market
The leading factor impacting the market is the high cost of raw materials and processing. Therefore, manufacturers are investing in research to come up with an affordable alternative. The primary component suppliers have extensive facilities and a highly effective distribution network, enabling efficient and prompt sourcing.
During the forecast period, the rapid growth of the population, increasing awareness about health & safety, and expansion of the pharmaceutical sector will all contribute to driving product demand. Over the forecast period, this will, in turn, positively affect the affinity chromatography market.
In the global chromatography resin industry, extensive R&D has led to the development of novel resin products that are more productive than traditional resins. It is a perfect illustration of the evolving dynamics of the industry. The ease of use and high accuracy of affinity chromatography has made it an increasingly popular analysis method across a wide range of industries. The presence of stringent safety regulations within pharmaceutical industries may hinder the growth of the chromatography resin industry.
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Covid-19 Impact
Despite the supply-demand restraint worldwide in primary economies in 2020, the COVID-19 pandemic moderately impacted the market. As a result, the pandemic affected various industries, affecting the overall growth of the market. Despite this, the stability of key end-use industries such as pharmaceutical, biotechnology, and others will likely continue to fuel product demand.
Regional Overview of the Market
As of 2020, Asia Pacific accounted for a significantly higher share of sales and is forecasted to grow at the fastest CAGR. Global manufacturers have lucrative opportunities to increase their market share because of the growing government support for domestic manufacturing in the Asia Pacific region, which is likely to increase production levels and reduce reliance on imports.
The growing R&D sector in the pharmaceutical industry will also drive the market over the forecast period.
Based on volume, North America is the biggest market, and it is estimated to grow at a significant rate over the forecast period. In addition, the growing demand for biochemical research applications and vaccine discoveries to combat diseases such as the ongoing Coronavirus pandemic is driving the market. Growing utilization of purified proteins and antibodies in therapeutic areas will also boost the demand for these products in North America. Over the last few decades, government initiatives such as funding to improve the productivity of affinity chromatography beads like magnetic beads and agarose beads have benefited the U.S. economy, enhancing its economic competitiveness and technological capabilities.
Key Companies
The leading prominent players in the global glutathione resin market are:
- Thermo Fisher Scientific, Inc.
- Cytiva
- Bio-Rad Laboratories, Inc.
- Takara Bio, Inc.
- Merck kGaA
- Mitsubishi Corporation Life Sciences Ltd.
- Other Prominent Players
Aim of the Report
The global glutathione resin market segmentation consists of Application and Region.
Segmentation based on Application
- Protein Purification
- Immunoprecipitation (IP)
- Research
- Others
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Segmentation based on Region
- North America
- The U.S.
- Canada
- Mexico
- Europe
- Western Europe
- The UK
- Germany
- France
- Italy
- Spain
- Rest of Western Europe
- Eastern Europe
- Poland
- Russia
- Rest of Eastern Europe
- Asia Pacific
- China
- India
- Japan
- Australia & New Zealand
- ASEAN
- Rest of Asia Pacific
- Middle East & Africa (MEA)
- UAE
- Saudi Arabia
- South Africa
- Rest of MEA
- South America
- Brazil
- Argentina
- Rest of South America
What is the goal of the report?
-The market report presents the estimated size of the market at the end of the forecast -period.
-The report also examines historical and current market sizes.
-During the forecast period, the report analyzes the growth rate, market size, and market valuation.
-The report presents current trends in the industry and the future potential of the North America, Asia Pacific, Europe, Latin America, and the Middle East and Africa markets.
-The report offers a comprehensive view of the market based on geographic scope, market segmentation, and key player financial performance.
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