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Agarose Resin Market Analysis

The Agarose Resin Market size is estimated at USD 0.68 billion in 2024, and is expected to reach USD 1.05 billion by 2029, growing at a CAGR of 8.91% during the forecast period (2024-2029).

The major factors driving the growth of the agarose resin market include the growing demand for bioprocessing, the increasing importance of chromatography tests, and increasing research and development activities.

The agarose resin is widely adopted by various pharmaceutical and biopharmaceutical companies for drug purification purposes owing to its multiple advantages, thereby driving its demand worldwide. For instance, according to the article published by the Marine Drugs Journal in May 2023, agarose, a polysaccharide derived from marine red algae, plays a vital role in biomedical applications owing to its reversible temperature-sensitive gelling behavior, excellent mechanical properties, and high biological activity. As per the same source, agarose can be transformed into different forms through physical, biological, and chemical modifications and is increasingly used for isolation, purification, drug delivery, and tissue engineering applications. In addition, the rise in investment in the biopharmaceutical field is also expected to drive market growth over the forecast period. Both academic research institutions and pharmaceutical companies invest heavily in biotechnology and bioprocessing research, which drives the demand for agarose resins for purification purposes. For instance, as per the report of Department of Health and Human Services published in September 2022, the United States government planned to invest USD 40 million to expand the role of biomanufacturing for active pharmaceutical ingredients (APIs), antibiotics, and the critical starting materials needed to produce essential medications and respond to pandemics in the United States. Therefore, such investments are projected to drive the demand for agarose resin as it plays a crucial role in the purification of these complex biomolecules, thereby driving demand for agarose-based chromatography media.

In addition, the increasing investment by government organizations to advance the biopharmaceutical and life science sector is expected to favor the market's growth during the forecast period. For instance, in March 2022, the United Kingdom government invested up to EUR 260 million (USD 276.34 million) in the new Life Sciences Innovative Manufacturing Fund (LSIMF) to advance life sciences manufacturing projects in both medical diagnostics and human medicines. Also, in October 2022, the United Kingdom Government funded more than USD 894.6 million to support the research and experimental therapies and to address patient safety challenges in the country. The National Institute for Health and Care Research (NIHR) allocated the funds to expert research facilities across the UK. The increasing government investment in the biopharmaceutical and life science sector, exemplified by the United Kingdom's significant funding allocations through initiatives like the Life Sciences Innovative Manufacturing Fund (LSIMF) and the National Institute for Health and Care Research (NIHR), is expected to drive the demand of the agarose resin market during the forecast period. As the research in life sciences, including genomics, proteomics, and molecular biology, relies heavily on chromatography techniques for biomolecule analysis and purification, it is projected to boost the demand for agarose resin.

Moreover, the active participation of prominent players in increasing the production of agarose resins, with the surge in demand from the biopharmaceutical sector, is also projected to enhance market growth during the forecast period. For instance, in November 2022, Purolite introduced that its Praesto agarose-based Protein A and Ion Exchange chromatography resins were expected to be available in South Korea and Singapore. Purolite offer these products through an enhanced strategic partnership with PharmNXT Biotech, which provides solutions to Pharma and broader Life Sciences markets. Additionally, in August 2022, Agarose Bead Technologies (ABT) announced its plan to increase the production volumes of various agarose beads by expanding an additional 1,000 square meters of production space.

Therefore, factors such as growing demand for bioprocessing and increasing research and development activities are projected to enhance agarose resin market growth during the forecast period. However, high costs and regulatory challenges may restrain the market growth during the forecast period.

Agarose Resin Industry Segmentation

As per the report's scope, agarose resin is a specialized type of chromatography resin used to purify and separate biomolecules, particularly in biopharmaceutical and life sciences applications. It is derived from agarose, a natural polysaccharide extracted from seaweed. The Agarose Resin Market is segmented by concentration, application, end user and geography. By concentration, the market is segmented into 2% to 4%, 4% to 6%, 6% to 8%, and more than 8%. By application, the market is segmented into protein purification, antibody purification, immunoprecipitation, and others. By end user, the market is segmented into pharmaceutical and biopharmaceutical companies, research laboratories, and other end users. By geography, the market is segmented into North America, Europe, Asia-Pacific, Middle East and Africa, and South America. For each segment, the market size is provided in terms of USD value.