Expression Vectors Market to Develop Rapidly by 2023
Geographically, the global expression vectors market is analyzed by various regions such as North America, Europe, Asia Pacific, Latin America, Middle East and Rest of the World. North America dominates the global market followed by Europe due to increasing scientific research and development of novel technologies in this region. In addition, increasing investment of U.S. government and private companies in synthetic biology research indirectly accentuates the growth of this market.Asia-Pacific is the fastest growing expression vector market owing to increasing penetration of various pharmaceutical giants and biotechnology in R&D activities in these areas. Other main factors accountable for this regions’ fast growth are rapidly growing healthcare infrastructure and rising awareness and demand for biologics and other proteins in the region.
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Globally, the factors driving the growth of expression vectors market include high prevalence of lifestyle diseases, infectious diseases, the increasing demand of protein-based drugs (biologics) genetic disorders, and increasing funding for protein research. Furthermore,Sales drop in the pharmaceutical industry due to current patent expiries of major drugs hasmanifested intense research and development of novel pharmaceuticals in various categories that demands more proteins from this market, therefore it is likely to contribute towards the growth of this market.
On the other hand, factors such as high market competition with entry barriers, and high cost of protein therapy are some of the major factors restraining the growth of expression vector market.Increasing government support for developing safe and effective protein therapeutics; along with high research and development initiatives in advanced diagnostic techniques are expected to fuel the growth of this market. Additionally, technological advancements in the field of in vitro diagnostics and increased focus on retaining superior quality of life are some of the factors that might contribute to the growth of this market. However, high R&D cost and product approval are some of the factors that might negatively influence the growth of expression vector market.
The global expression vector market is highly competitive and mature due to the participation and presence of many established as well as new players in this market.Some of the key global participants present in the expression vector market include Thermo Fisher Scientific, Inc., Sigma-Aldrich Corporation, Agilent Technologies, Promega Corporation, Bio-Rad Laboratories, New England Biolabs, Life Technologies Corporation, Clontech Laboratories, Inc., Merck Millipore, QIAGEN, GenScript USA Inc.
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