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(Health-NewsWire.Net, February 12, 2021 ) What are the key factors driving growth in Hydrophobic Interaction Chromatography Market?
In the current market scenario, there is a growing demand for hydrophobic interaction chromatography. The major factors driving the growth of this market are the increasing demand for monoclonal antibodies and increasing R&D expenditure in biopharmaceuticals.
How Industry is Growing in Coming Years?
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%.
Market Dynamics:
Drivers:
1. Increasing demand for monoclonal antibodies
2. Increasing R&D expenditure in biopharmaceuticals
Opportunities:
1. Increasing number of CMOs and CROs
2. Patent Expiry
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Monoclonal antibodies likely to drive the market:
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.
The Objective of Research is as Follows:
1. To define, describe, and forecast the global market on the basis of product, application, end user, and region.
2. To provide detailed information regarding the major factors influencing the growth of the market (drivers, opportunities and industry-specific challenges).
3. To strategically analyze micromarkets with respect to individual growth trends, future prospects, and contributions to the overall market.
4. To analyze the opportunities in the market for stakeholders and provide details of the competitive landscape for the market leaders.
5. To forecast the size of the market with respect to five regions: North America, Europe, Asia Pacific, and the Rest of the world.
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Geographic Growth Analysis:
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.
MarketsandMarkets™
Mr. Aashish Mehra
1-888-600-6441
raviraj.tak@marketsandmarkets.com
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