Triton Market Research predicts that the global protein expression market is anticipated to rise with a CAGR of 11.30% during the forecast period 2019-2028. The market, that was valued at $950.67 million in the year 2019, is expected to rise to a revenue of about $2491.67 million by the year 2028.
The generation of precise proteins through biotechnological procedures is referred to as protein expression. These products are used in conducting research and designing therapeutics in medicine.
Triton Market Research’s report on the protein expression market provides an in-depth insight into the market. The detailed analysis of the market includes key market insights, Porter’s five force analysis, key impact analysis and market attractiveness index.
The growing prevalence of chronic diseases, rise in healthcare expenditure and the increasing R&D in the fields of genomics and proteomics are expected to foster the growth of the market during the forecast period. The rise in healthcare expenditure significantly impacts the growth of various pharmaceutical sectors in the healthcare industry. According to the Centers for Medicare and Medicaid Services in the US, the National Health Expenditures (NHE) reached $3.3 trillion in 2016. The NHE increased by 4.3% in 2016 and accounted for 17.9% of the GDP. This growth in healthcare expenditure is expected to drive the adoption of protein expression products, which are used in the detection of various chronic diseases such as diabetes, cardiovascular diseases and others.
Emerging geographies such as India and China have been witnessing significant growth in the pharmaceutical industry. According to IQVIA Holdings Inc, the pharmaceutical industry in China is growing at 5% to 6%, while in India, it is growing at 8% to 9%, and is expected to continue the momentum for the next five years. Growing pharmaceutical markets present huge opportunities for the development of new therapies, which is expected to increase the adoption of protein expression systems. This factor is likely to, in turn, help the market grow.
As the major application of the protein expression system deals with therapies and treatment of many chronic diseases, it has to face stringent regulations. Stringent regulations present challenges in the approval process of a new protein expression system. This significantly affects the development of new products, ultimately restraining market growth. Furthermore, the high cost of protein expression systems and the lack of effective systems for post-translational modifications are some of the key restraining factors of the protein expression market.
Key geographies covered in the global protein expression market are:
• North America: United States and Canada
• Europe: United Kingdom, France, Germany, Spain, Italy, Russia and Rest of Europe
• Asia-Pacific: China, Japan, India, Australia, South Korea, ASEAN Countries and Rest of Asia-Pacific
• Latin America: Brazil, Mexico and Rest of Latin America
• Middle East and Africa: Saudi Arabia, Turkey, United Arab Emirates, South Africa and Rest of Middle East & Africa
The global protein expression market is segmented as follows:
• Market by Product:
o Reagents
o Expression
o Competent
o Instruments
o Services
• Market by Application:
o Therapeutic
o Industrial
o Research
• Market by End-user:
o Pharmaceutical & biotechnology companies
o Academic research institutes
o Contract research organizations
o Other end-users
The key companies profiled in the report include Agilent Technologies Inc, BD (Becton, Dickinson And Company), Bio-Rad Laboratories Inc, GenScript, LifeSensors, Merck KGaA, Promega Corporation, Qiagen, Takara Holdings Inc, Thermo Fisher Scientific Inc, Lonza, New England Biolabs, Biotechrabbit, ProMab and Peak Proteins Ltd.