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(Medical-NewsWire.com, June 27, 2020 ) The increasing demand for monoclonal antibodies and increasing R&D expenditure in biopharmaceuticals are driving the growth of the hydrophobic interaction chromatography market.
The global hydrophobic interaction chromatography market is projected to reach USD 418.2 million in 2023 from USD 271.0 million in 2017, at a CAGR of 7.5%.
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Monoclonal Antibodies Likely to Drive Market Growth:
In the past decade, there has been a significant increase in the demand for mAbs not only in oncology but several other therapeutic areas such as Alzheimer’s, autoimmune diseases, and inflammatory disorders. These therapeutic areas have also gained prominence in recent years, as a result of which, almost all major pharmaceutical companies have undertaken R&D on therapeutic antibodies. In the purification of mAbs, impurities and aggregates are removed through different chromatography resins, including hydrophobic interaction chromatography resins. In drug discovery applications, hydrophobic interaction chromatography plays an important role in capturing and polishing target proteins during the purification process.
Hydrophobic interaction chromatography is widely used for mAbs purification. Therefore, the increase in the number of mAbs approvals will eventually drive the demand for hydrophobic interaction chromatography resins.
North America is expected to account for the largest share of the global hydrophobic interaction chromatography market. The availability of government and public funding for protein-based research projects, increased adoption of automated purification instruments, high demand for protein biologics, and increasing R&D efforts by pharmaceutical and biotechnology companies are some of the major factors driving the growth of the HIC market in North America.
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The key players in the global hydrophobic interaction chromatography market include GE Healthcare (US), Bio-Rad Laboratories (US), Sartorius (Germany), Thermo Fisher Scientific (US), and Tosoh Corporation (Japan). These players focus on both organic and inorganic growth strategies, such as product launches, collaborations, and acquisition to maintain and enhance their market share in the hydrophobic interaction chromatography market.
Hydrophobic interaction chromatography market is consolidated in nature with a major share attributed by top companies in this market such as GE Healthcare, Tosoh Corporation, Merck, and Bio-Rad. Rankings for this market have been derived on the basis of several aspects such as segmental revenue, market strategies, brand image, product portfolios, product innovation, and geographic presence.
Mr. Aashish Mehra