Agarose Resin Market
Agarose Resin Market By Application (Protein Purification, Antibody Purification, Immunoprecipitation), By Concentration (2% to 4%, 4% to 6%, 6% to 8%, More than 8%), By End-Use, By Region - Global Market Forecast 2020-2030
Global Agarose Resin Market Overview
The global agarose resin market has observed rapid growth at a CAGR of 8.7% over the past half-decade. However, the ongoing COVID-19 pandemic has provided a boost to market growth. Unlike other markets, the agarose resin market grew twofold in the 2nd and 3rd quarters as compared to the same quarters in the preceding year, i.e. FY2019.
Demand rise can largely be attributed to a spike in research activities in the fields of virology and biopharmaceuticals. Agarose resins are extensively used in the downstream process of protein and DNA separation by the method called electrophoresis. Separation of DNA, RNA, or protein majorly takes place through electric current, which mobilizes molecules into the gel in the process of chromatography.
Agarose resins are also utilized in the form of beads, which are easy to use than the natural form. Furthermore, agarose resins are cross-linked with other materials to enhance the selectivity of protein or DNA in the chromatographic separation process.
Moreover, the COVID-19 outbreak is set to provide a short- medium-term boost to the expansion of the agarose resin market size, owing to its rapid adoption and utilization in the process of vaccine purification and biomolecule separation. On a regional stance, the South Asia and Oceania regions are set to observe higher demand for agarose resins, owing to rampant trials of COVID-19 vaccines in India. All in all, the agarose resin market is set to experience rapid growth at a CAGR of nearly 10% over the long-term forecast period.
Agarose Resin Market Application Insights
Since the past half-decade, antibody purification has gained dominance in the market, capturing three-fifth of the agarose resin market share. Instances of agarose resins in antibody purification have been highly observed in manufacturing protein-based therapeutic drugs by isolating antibodies from the serum.
The protein therapeutics drug market is set to expand at 11% CAGR in the long run, which is set to bolster demand for agarose resins over the same period. Followed by antibody purification, protein purification captures around one-fifth of the agarose resin market. In the 2nd and 3rd quarters of FY2020, protein purification application has garnered attention in vaccine trials. COVID-19 vaccine trials in India are set to heighten demand for agarose resin in the short term.
Agarose Resin Market End Use Insights
Chromatography is extensively used in the pharmaceutical and biopharmaceutical industry. Agarose resin is used to prepare large quantities of extremely pure materials and further utilized to analyze trace compounds in purified materials. In biopharmaceuticals, agarose resins and beads are used to effectively separate selective protein or DNA for further processing or testing.
Agarose resins or gels are used in gel electrophoresis for the separation of large molecules such as DNA, RNA, and others. Moreover, choice of agarose resins in accordance with the concentration of the agarose, such as 2%, 4%, and 6%, is set to alter the overall porosity and adsorption levels of agarose resins. Therefore, choice and utilization of agarose resins with respect to selectivity and binding capacity is set to vary with respect to the application in the pharmaceutical and biopharmaceutical industry. All in all, rising demand for various concentrations of agarose resins for pharmaceutical and biopharmaceutical applications is set to provide long-term thrust to the growth of the agarose resin market.
Regional Outlook of Agarose Resin Market
North America accounted for the largest agarose resin market share in 2019, but is set to lose some of its market share (8%) by the end of 2030. Positioning of key agarose resin manufacturers such as Purolite and Cytiva Life Sciences, previously known as GE healthcare, helps the region capture more than 80% of the global supply and around two-fifth of global demand.
Followed by North America, Europe is set to capture around one-quarter of the demand in 2029, owing to rapid research in the field of biotherapeutics and vaccine purification. By the end of the forecast period, the agarose resin market in East Asia is set to overtake Europe, owing to rampant growth of biotherapeutic and protein drug manufacturing in the region.
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Agarose Resin Market: Manufacturers’ Key Strategies
The global agarose resin market is consolidated in nature, with a majority of players positioned in North America, such as Cytiva Life Sciences and Purolite, who together hold four-fifth of the agarose resin market share. Organic growth can be observed from tier-1 players such as Purolite, whose expansion in the agarose resin market by 2019 was equivalent to 30% of global production.
The Analyst’s Viewpoint
“Adopted economies of density by Key Players such as Purolite is set to lower the price over long term forecast period.”
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COVID-19 Impact on Agarose Resin Market
The coronavirus pandemic has brought the whole world to a standstill. A majority of businesses across the globe have observed a major decline, which has never been observed in the past decades. But in the perspective of the agarose resin market, it is largely associated with its utilization in chromatographic separation, allowing it to grow nearly twofold in the past 3 quarters of FY2020. Demand growth of agarose resins will be observed in the short-term forecast period, and is set to normalize by the medium-term forecast period.
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Agarose Resin Market: About the Report
Fact.MR published an exclusive forecast report on the agarose resin market for 2020 and 2030. The foremost objective of this report on the agarose resin market is to pitch spearhead insights on the market scenario, demand generators, and technological advancements in the market. Also, the study on the agarose resin market addresses key dynamics that are expected to diversify the sales and future prominence of the agarose resin market.
The report on the agarose resin market begins with an executive overview, in which, product definition has been provided. The report further proceeds with the taxonomy of the agarose resin market, elaborating on key segments. Also, the report outlines visionary insights on the dynamics of the agarose resin market, including the drivers, restraints, opportunities, trends, and pricing analysis, along with key buying factors for agarose resin. Supply chain analysis and pricing analysis of the agarose resin market along with the difference between agarose resin used as per application have also been included in the report, to help readers clearly understand the product framework map in the agarose resin market landscape.
Agarose Resin Market: Segmentation
Fact.MR has studied the global agarose resin market with detailed segmentation on the basis of concentration, application, end-use, and region.
- 2% to 4%
- 4% to 6%
- 6% to 8%
- More than 8%
- Protein Purification
- Antibody Purification
- Biopharma Companies
- Clinical Research Laboratories
- Academic & Research Institutes
- North America
- East Asia
- South Asia & Oceania
- Rest of the World
“This taxonomy prepared is confidential and intended exclusively for the individual or entity with whom it is being shared. Reading, disseminating, distributing, or copying this to any party other than the addressee(s) is unauthorized and prohibited.”
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