NEW YORK, Sept. 14, 2017 (GLOBE NEWSWIRE) -- According to a new market research report titled “Protein Expression Market by System (Prokaryotic Expression Systems, Mammalian Cell Expression Systems, Insect Cell Expression Systems, Yeast Expression Systems, Cell-Free Expression Systems, Algal-Based Expression Systems), by Product & Services (Reagents, Expression Vectors, Competent Cells, Services, Instruments), by Application (Therapeutic, Industrial, Research), by End User (Pharmaceutical and Biotechnology Companies, Academic Research Institutes, Contract Research Organizations), by Geography (US, Canada, UK, Germany, France, Italy, Spain, China, India, Japan, Brazil, Mexico, South Africa) - Global Market Size, Share, Development, Growth and Demand Forecast, 2013-2023” published by P&S Market Research, the protein expression market is expected to grow at a CAGR of 11.7% during 2017 - 2023.
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According to the study, the global protein expression market is likely to grow from $1.4 billion in 2016 to $3.0 billion by 2023. Major key players in the market are developing products with technically advanced features that are designed to produce high protein yield, maintaining a balance of speed and scalability, thereby enhancing its application in the drug development workflow.
As per the findings of the research, prokaryotic expression system occupied the largest share of the protein expression market in 2016, due to the high use of prokaryotic protein expression systems, since they are cheaper as compared to other expression systems
Pharmaceutical & biotechnology companies were the largest end user of the protein expression products in 2016, mainly due to the technological advancement in protein expression research and rising production of recombinant therapeutic proteins for disease treatment.
Geographically, North America has been the largest market for protein expression, with the U.S. being the larger contributor to the regional market, as compared to Canada. The dominant position of the North American market is mainly attributable to the rise in R&D infrastructure, increased aging population, rise in healthcare expenditure and increasing prevalence of chronic diseases in the region.
Europe is the second largest market for protein expression, after North America. The Germany has been the largest contributor to the European protein expression market, followed by the U.K. and France. The growth of the European market is mainly attributable to the growing aging population, increase in infections, rising incidences of cardiovascular diseases, chronic pain, and neurological disorders and R&D infrastructure. The protein expression market is expected to witness the fastest growth in Asia-Pacific during forecast period. Rising prevalence of diseases such as cardiovascular disease and diabetes, increasing R&D spending, growing aging population and increasing per capita income are some of the driving factors boosting the Asia-Pacific market.
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Key players are launching new products in the market to offer advanced protein expression products. In August 2017, Thermo Fisher Scientific Inc. launched Thermo Scientific Krios G3i which is designed to deliver innovative enhancements necessary for rapid adoption of cryo-EM. The Thermo Scientific Krios G3i can be used independently or together in a single particle analysis workflow to make structural analysis of the proteins, protein complexes and other biomolecular structures faster, easier and more accessible.
Some of the other key players operating in this industry include Merck KGaA, Genscript Biotech Corporation, Agilent Technologies, Inc., Promega Corporation, Bio-Rad Laboratories, Inc., Qiagen N.V., New England Biolabs Inc., and Lonza Group Ltd.
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