Chromatographic Silica Resin Market Growing At A Cagr Of 4.1% During The Forecast Period (2019-2027)

The global chromatographic silica resin market is estimated to account for US$ 120.1 million in terms of revenue by the end of 2027, growing at a CAGR of 4.1% during the forecast period (2019-2027)

Chromatography silica resin is widely used in the pharmaceutical industry for the study of medicines such as sedatives, hypnotics, analgesics, local anesthetics, and steroids. Chromatography silica resin is also used across biotechnology where it is used to detect the molecular components such as carbohydrates, nucleic acids, fats, protein, and vitamins. Basically, chromatography silica resin is used thin-layer chromatography for biomedical analysis. Moreover, chromatography silica resin is also used in food and chemical the industry for purification purposes.

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Drivers

The growing pharmaceutical industry around the globe is a prime factor propelling the market growth of chromatography silica resin. According to the Global Use of Medicines report from the IQVIA Institute for Human Data Science published in January 2019, the global market for pharmaceuticals reached US$ 1.2 trillion in 2018, increased by US $100 billion from 2017. The booming pharmaceutical industry is expected to propel the market growth of chromatography silica resin.

Expanding biotechnology firms around the globe is expected to propel the market growth of the chromatography silica resin. The application of chromatography in biotechnology has increased drastically as it is capable of detecting molecular components such as fats, carbohydrates, protein-nucleic acids, and vitamins. Hence, rising usage of chromatography silica resin in the biotechnology industry is expected to propel the market growth

Market Opportunities

Increasing application of chromatography silica resin across nutraceuticals where chromatography is mainly used to isolate dietary supplements from natural compounds is expected to offer immense growth opportunity over the forecast period. Moreover, it is also used across the dietary industry for separating lactose from milk. Therefore, the rising application of across nutraceuticals is projected to propel the market growth over the forecast period. Also, the demand for silica gel chromatographic resins is also increasing across the agriculture industry.

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Increasing implementation of strict regulations associated with the quality assurance & product compliance is expected to impact the market growth in a positive manner over the forecast period. Rising safety concerns have encouraged governments across various countries to implement strict regulations for quality food, chemical and cosmetic products for checking the presence of chemical additives and contaminants in the product is expected to propel the market growth.

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