According to a new market research report "Hydrophobic Interaction Chromatography Marketby Product & Services (Resin, Columns (Empty, Prepacked), Buffer), Sample (Monoclonal Antibodies, Vaccines), End User (Pharmaceutical Companies, CROs & CMOs, Research Institutes) - Global Forecast to 2023", published by MarketsandMarkets™, the global market is projected to reach USD 418.2 million in 2023 from USD 291.3 million in 2018, at a CAGR of 7.5%.
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The increasing demand for monoclonal antibodies and increasing R&D expenditure in biopharmaceuticals are the major factors driving the growth of the market.
Based on product and service, the products segment to account for the largest share of the market in 2018
In 2018, the products segment is expected to account for the largest share of the global Hydrophobic Interaction Chromatography Market. This segment is also expected to grow at the highest CAGR during the forecast period. The large share and high growth can be attributed to the increasing demand for membrane-based resins and the growing requirement of ready-to-use prepacked columns in purification processes.
Based on sample type, the monoclonal antibodies segment is expected to grow at the highest CAGR during the forecast period
On the basis of sample type, the global Hydrophobic Interaction Chromatography Market is divided into monoclonal antibodies, vaccines, and other samples. The monoclonal antibodies segment is expected to grow at the highest CAGR during the study period. This can be attributed to the increasing application of mAbs in autoimmune disorders, CVD, infectious diseases, and cancer.
Asia Pacific is expected to grow at the highest CAGR during the forecast period
The APAC region is expected to grow at the highest CAGR over the next five years. This growth is primarily driven by the increased research and development activities in countries such as China and India and increasing number of CROs, CMOs, and research institutes in these emerging economies.
The key players in the global Hydrophobic Interaction Chromatography Market are GE Healthcare (US), Bio-Rad Laboratories (US), Sartorius (Germany), and Thermo Fisher Scientific (US).
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