Market Trends of Agarose Resin Industry
Protein Purification Segment is Expected to Hold a Highest Share of the Market
Agarose resin's high resolution and compatibility with biocompatible conditions make it a valuable tool in achieving protein purity and ensuring the quality of biopharmaceutical and research-grade proteins. The protein purification segment within the agarose resin market serves a wide range of applications, including the production of therapeutic proteins, research in molecular biology and biotechnology, structural biology studies, and the development of diagnostics and vaccines. The critical role of agarose resin in ensuring the quality and purity of biopharmaceutical products further solidifies its position in purification applications.
The growth of the protein purification application segment in the agarose resin market is propelled by the expanding biopharmaceutical industry, increasing demand for therapeutic proteins and vaccines, advancements in bioprocessing, and ongoing research in fields such as gene therapy and regenerative medicine.
The high burden of chronic diseases has boosted the research investments and funding for advancing the research of nucleic acids, genetics, and nucleic acid-based therapeutics and diagnosis for the timely and effective management of the diseases. For instance, as per the data published by the National Center for Health Statistics (NCHS) in March 2023, research investments in nucleic acid-based research are expected to increase in the coming years in the United States. The source stated that the research funding in Genetics will likely elevate from USD 11,615 million in FY 2022 to USD 12,445 million by 2024. The same source reported that the research investments in Genetic Testing are anticipated to increase from USD 214 million in 2022 to USD 237 million by 2024. Also, the research funding in gene therapy will rise from USD 516 million in 2022 to USD 540 million by 2024. This is projected to drive the demand of agarose resin for the separation of large molecules, especially DNA, by electrophoresis, thereby driving the market growth.
Furthermore, the advancements in protein extraction and purification technologies are projected to drive the demand for agarose resin during the forecast period. For instance, in February 2023, BioEcho Life Sciences, a Germany-based biotechnology company, received the patents of EchoLUTION technology for protein extraction and purification from the United States Patent and Trademark Office and the Japan Patent Office. EchoLUTION technology allows DNA and RNA extraction in one single centrifugation step: Nucleic acids pass through the purification matrix having agarose in it, while impurities are held back and ultimately removed. The result is high-quality, inhibitor-free DNA or RNA ready for downstream applications.
Therefore, factors such as the expanding biopharmaceutical industry, increased investments, and rising technological advancements are projected to enhance market growth during the forecast period.
North America is Expected to Hold the Significant Share of the Market Over the Forecast Period
North America is expected to hold a significant share of the agarose resin market over the forecast period owing to the rising investments in the biopharmaceutical sector across the United States, Canada, and Mexico and rising advancements in chromatography technologies.
The rising investment in the biopharmaceutical sector in the region is projected to drive the growth of the agarose resins market during the forecast period. For instance, in September 2022, the United States government invested over USD 2 billion to launch its biomanufacturing initiative, which aims to expand manufacturing capacity in the country and ensure pandemic preparedness. The “Benchmarking Synthetic Biology Product Development” project announced by the government is expected to increase the commercial readiness of bio-products throughout the bioindustrial manufacturing ecosystem. In addition, the government authorities in Canada are highly focused on the biomanufacturing and pharma sectors to meet the rising demand for medicines and biologics. For instance, according to the June 2023 update by the Government of Canada, the Government of Canada invests more than USD 2.1 billion in 36 projects in the biomanufacturing, vaccine, and therapeutics ecosystem, strengthening domestic pandemic response capabilities and life science innovation. The investments are spread across British Columbia, Alberta, Saskatchewan, Quebec, Ontario, and Atlantic Canada. Thus, such investment in biomanufacturing will likely create a high demand for agarose resins in the country, fueling market growth over the forecast period.
Moreover, prominent regional players' rising number of strategic activities such as increasing product launches and acquisitions is also projected to drive market growth during the forecast period. For instance, In July 2022, MicroSolv Technology Corporation, a manufacturer of HPLC columns and other products for Separation Sciences, acquired Applied Research Europe GmbH of Berlin, Germany, a manufacturer of chromatography accessories including agarose resins. The acquisition likely broadens MicroSolv's product portfolio, incorporating agarose resins and related chromatography accessories. This expansion enables MicroSolv to offer a more comprehensive range of solutions to its customers in North America.
Therefore, factors such as rising investments in the biopharmaceutical sector across the United States, Canada, and Mexico and advancements in chromatography technologies are projected to accelerate market growth during the forecast period.
