Global Protein Expression Market Is Estimated to reach USD 3,715.0 Million by 2024

Global protein expression market was registered at USD 1,693.6 million in 2017, and is estimated to reach USD 3,715.0 million by 2024. The market is led by the increasing funds from government and non-government organization for protein research, the soaring prevalence of chronic diseases, rising life science industry. The use of microfluidic devices in profiling protein expression provides opportunity for the growth of the market. The protein expression market is projected to grow at CAGR of 12.1% during the forecast period (2018-2024). Asia-Pacific protein expression industry is expected to witness a considerable growth at a high CAGR of 13.9% during the forecast period. The growth is driven by the increasing life science funding, rise in number of chronic diseases in the region. Also, the emerging economies of the region provide immense opportunities for key players to explore the untapped market.

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On the basis of products and services offered in the protein expression market, the reagents held the largest share in the global market, in 2017. The large volume of reagents utilized in research activities, and the large-scale production of antibodies and vaccines has led to the high demand of reagents over other product category. These include expression vectors, competent cells, instruments, and services used in protein expression.

The market is segmented into prokaryotic expression systems; yeast expression systems; mammalian cell expression systems; insect cell expression systems; cell-free expression systems; and algal-based expression systems, on the basis of systems. Among the available system types, the prokaryotic expression system registered to be the largest contributor, with 39.7% to the global market in 2017, due to the systems less cost over others.

Protein expression products and services are used in therapeutics, research and industrial applications. The market is led by the high demand of products and services for therapeutics, due to the increasing prevalence of chronic diseases. On the basis of end user, the protein expression market is segmented into academic research institutes; contract research organizations; pharmaceutical and biotechnology companies; and others. The growth of the market in contract research organizations is expected to be the highest at a CAGR of 13.7% during the forecast period.

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The market has witnessed launch of product and services by manufacturers to increase their market share, for instance in June 2017, GenScript launched MonoRab, its new custom rabbit monoclonal antibody (mAb) service. The MonoRab technology uses hybridoma and early-stage monoclonal antibody sequencing for delivering custom rabbit mAbs with high specificity and affinity to address range of applications. Some of the key players of the protein expression industry include New England Biolabs, Inc., Thermo Fisher Scientific Inc., QIAGEN N.V., Takara Bio Inc., Lonza Group Ltd., Merck KGaA, Promega Corporation, Genscript Biotech Corporation, Agilent Technologies Inc., and Bio-Rad Laboratories, Inc.

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This release was published on openPR.