(MENAFN- America News Hour) The Asia-Pacific chromatography resins market is estimated to witness a healthy growth, at an estimated CAGR of over 7%, over the forecast period. The major factors driving the growth of the market studied are rising demand from the pharmaceutical sector and technological advancements in chromatography resins.
– Rising importance of green chromatography is likely to create opportunities for the market in the coming years.
– Japan is expected to dominate the market and is also likely to witness highest CAGR during the forecast period.
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Key Market Trends
Increasing Demand from Pharmaceutical Sector
– Chromatography resins are used in the pharmaceutical sector for a variety of applications during medicine manufacture, such as separation of chemical and biomolecules, protein purification for drug delivery, and diagnostics. The demand for chromatography resins is expected to increase, because of the increasing monoclonal antibody production and various government incentives.
– The increasing antibody production is in response to a rising number of critical diseases across the region. According to the World Health Organization, annually millions of people die because of non-communicable diseases (NCDs), of which 81% is because of cardiovascular diseases (CVDs), cancer, respiratory diseases, and diabetes mellitus.
– Various governments in the region are not only promoting R&D in medicines, but also planning schemes to increase the demand for medicines, which may, in turn, drive the market studied.
– The National Natural Science Foundation of China funded four projects focusing on innovation of TB drugs, vaccine researches, and structure-based HIV vaccine designs.
– In India, in the latest budget announcement, the government has announced various health schemes and proposals, which would increase the demand for medicines, thereby, driving the studied market.
– Owing to all the aforementioned factors, the market for chromatography resins is expected to grow during the forecast period.
Japan to Dominate the Market
– The country occupies the second largest share of the chromatography resins market across the world.
– Owing to the extensive pharmaceutical research and development in the country, the sector is expected to stimulate the growth of the chromatography resins market. The increasing demand for economical drugs from the growing aging population of the country has opened the gateway of new market avenues for the pharmaceutical industry.
– Availing this new opportunity and the expected developments in the pharmaceutical industry is likely to drive the chromatography resins market in Japan.
– Some of the major manufacturers of chromatography resins in Japan are Mitsubishi Chemical Corporation and Tosoh Corporation
– Thus, all the factors, in turn are projected to drive the demand for the chromatography resins in the region during the forecast period.
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Competitive Landscape
The Asia-Pacific chromatography resins market is partially consolidated in nature. Some of the major players in the market include Thermo Fisher Scientific, General Electric, Merck KGaA, Dupont, and Mitsubishi Chemical Corporation, among others.
1 INTRODUCTION
1.1 Study Assumptions
1.2 Scope of the Study
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1 Drivers
4.1.1 Rising Demand from the Pharmaceutical Sector
4.1.2 Technological Advancements in Chromatography Resins
4.1.3 Increasing Importance of Chromatography Tests in Drug Approvals
4.2 Restraints
4.2.1 High Costs vs. Productivity of Chromatography Systems
4.3 Industry Value-Chain Analysis
4.4 Porter's Five Forces Analysis
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Consumers
4.4.3 Threat of New Entrants
4.4.4 Threat of Substitute Products and Services
4.4.5 Degree of Competition
5 MARKET SEGMENTATION
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