According to the Market Research Future Reports, the global hydrophobic interaction chromatography market is set to stagger at a CAGR OF 7.8% from the year 2018 to 2023.
Hydrophobic Interaction Chromatography (HIC) is referred to as a technique which helps in separating molecules based on their hydrophobicity. This technique purifies proteins without affecting the biological activities. Thus, the growing demand for monoclonal antibodies and increasing expenditure research & development in biopharmaceuticals, all are expected to drive the growth of the hydrophobic interaction chromatography market at the time of the assessment period.
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Global Hydrophobic Interaction Chromatography Market: Drivers & Trends
It has been observed that several factors are igniting the market of hydrophobic interaction chromatography in broader ways and thus, the market is proliferating year by year. Therefore, the increasing demand for hydrophobic interaction chromatography resins across various end-use industries such as food and beverages and pharmaceutical are majorly expected to drive the growth of the market in the next few years. With that, the swelling scope of its usage mainly in the genetic engineering industry is another crucial factor that will support the revenue growth of the global hydrophobic interaction chromatography market in the years to come.
As per MRFR did the research, it mentioned that according to the European Federation of Pharmaceutical Industries and Association, in 2016, the expenditure made for research & development in the pharmaceutical industry was EUR 35000 million, while ignited the market to stagger at a considerable CAGR. After it, with the increasing number of contract research organizations and contract manufacturing organizations have supported and contributed extravagantly to the market growth.
Global Hydrophobic Interaction Chromatography Market Segmentation
In the reports by MRFR, the global hydrophobic interaction chromatography market has been segmented into product and service, sample type, and end-user.
On the basis of products and services, the market has been segmented by products such as resins, columns, HIC columns, buffers, and other products and services. The resins segment further has been segmented into bead-based resins and membrane-based resins. The column segment has been further segmented into empty columns and pre-packed columns. Whereas, HIC columns by material are further segmented into stainless steel columns and glass and plastic columns.
By the mode of sample type, the market has been segmented into monoclonal antibodies, vaccines, and others.
By the mode of end-user, the market has been segmented into pharmaceutical and biopharmaceutical companies, contract research organizations and contract manufacturing organizations, research and academic institutes, and others.
Regionally, the global hydrophobic interaction chromatography has covered significant regions such as North America, Europe, Asia-Pacific, and the Middle East and Africa.
Among these, North America is expected to lead the hydrophobic interaction chromatography market owing to the existence of government and public funding for protein-based research projects, rising automation of purification equipment, and growing demand for protein-based biologics. Besides, the swelling research and development expenditure is also expected to contribute majorly to the market growth in the region. As per the reports, according to the UNESCO Institutes for Statistics, in the US, the research & development expenditure was 2.79% of the GDP (Gross Domestic Product) in 2015.
Europe is also probable to grasp the second largest position in the global hydrophobic interaction chromatography market with the increasing funding events provided by the government and private organizations towards research and development. This anticipates for the market to drive forward at a higher CAGR by the forecast period.
Whereas, the Asia-Pacific hydrophobic interaction chromatography market has countries, namely, China, Japan, the Republic of Korea, India, Australia and they are expected to be the fastest growing countries in the hydrophobic interaction chromatography market. Major factors behind market growth fall as a growing number of contract research organizations, developing healthcare infrastructure, increasing research and development activities in the biotechnology sector and increasing expenditure healthcare. These are influencing market proliferation in this region.
While the Middle East and Africa hold the least share in the global hydrophobic interaction chromatography market owing to the presence of stringent government policies and weak economies. However, growing awareness among the population and high investments that are being made by private market players in this region can eventually boost the market growth.
The list of key market players are states as Bio-Rad Laboratories, Sartorius AG, Thermo Fisher Scientific, GE Healthcare, Tosoh Corporation, Waters Corporation, Geno Technology, Sepax Technologies, JNC Corporation, Agilent Technologies, Merck KGaA, Mitsubishi Chemical Corporation, Danaher Corporation, and Avantor Performance Materials are some of the key players in the global hydrophobic interaction chromatography market.
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