Glutathione Resin Market Size, Share & Trends Analysis Report By Application (Protein Purification, IP, Research), By Region (Asia Pacific, North America, Europe, MEA, CSA), And Segment Forecasts, 2021 - 2028
Glutathione Resin Market Growth & Trends
The global glutathione resin market size is expected to reach USD 777.46 million by 2028, registering a CAGR of 8.4% over the forecast period, as per the new report. The market is majorly driven by the rising product demand on account of the rapid expansion of pharmaceutical industries and vaccine production.
Glutathione is widely used across numerous applications, such as cosmetics and nutraceuticals, owing to its beneficial properties.The product is one of the majorly used skin whitening agents in the cosmetic industry.
Nowadays, skin whitening agents, either intravenous, oral, or topical, are widely available in the markets. Thus, the demand for glutathione is expected to increase over the forecast period, specifically in the cosmetic industry.
The growing investments for the development of structure-based drugs and technological advancements by both public and private research organizations are driving the demand for protein purification, in turn, making the protein purification application the dominant application segment and driving the product demand.With the increasing population, the demand for vaccines, pharmaceutical drugs, and high-quality proteins is rising, leading to a growth of the market.
Increased government regulations are likely to restrict the market growth to some extent over the forecast period.
North America is anticipated to be the major regional market owing to the presence of highly developed pharmaceutical industries in countries, such as the U.S. and Canada. The pharmaceutical and biotechnology industry for glutathione resin is the biggest in this region owing to the huge demand from the research sector of the regional market. This market has widespread applications across various industries with the number of new players entering into growing pharmaceutical, biochemical, and other application industries.
Glutathione Resin Market Report Highlights • The key factor contributing to the market growth include the increasing number of companies entering the market to fulfill the demand and supply gaps occurred due to cutback in major producing countries like China, India, and others
• Moreover, the growing usage of protein purification techniques and products in the research segment is expected to fuel market growth in the forecast period
• The protein purification application segment accounted for the highest share of more than 41% in 2020. This growth was credited to the increased research activities related to the inclusion of affinity chromatography in vaccine formulations
• In 2020, Asia Pacific was the largest regional market owing to the growing pharmaceutical R&D sectors in the region. It is estimated to expand further at the fastest CAGR from 2021 to 2028
• However, in terms of volume, North America accounted for the highest share in 2020 due to high demand from end-use application sectors in the developed economies, especially the U.S.
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