Protein Labeling Market is expected to register a CAGR close to 11.7% during 2018 – 2023 | Global Key Players - Thermo Fisher Scientific, Merck KGaA (Germany), PerkinElmer, F Hoffman-La Roche AG, General Electric Healthcare Life Science, Kaneka Corporat

Global Protein Labeling Market Highlights
The global protein labeling market is expected to register a CAGR of 11.7% during the forecast period of 2018-2023. Due to the presence of major players in the region, North America dominates the global market.

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Increasing R&D Expenditure for the Development of Protein Labeling
Increasing R&D expenditure leading to a reduction in process complexity for protein labeling by companies and the improvements in existing technologies are anticipated to accelerate the growth of protein labeling market. The market is also witnessing the launching of new products and increasing adoption of bioengineering technologies, thus bolstering the growth of the market studied.
Additionally, increasing proteomics research and increasing healthcare expenditure are fuelling the growth of the protein labeling market.

Key Developments in the Market
September 2017 - Promega Corporation’s new bioluminescent HiBiT Protein Tagging System can be combined with CRISPR/CAS9-mediated gene editing that tag endogenous proteins.

Major Players:
Thermo Fisher Scientific Inc., Merck KGaA (Germany), PerkinElmer Inc., F Hoffman-La Roche AG, General Electric Healthcare Life Science, Kaneka Corporation, Li-Cor Inc., New England Biolabs, Promega Corporation, and SeraCare Life Sciences Inc., among others.

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High Cost of Products
The reagents and kits that are used for the labeling of antibody or protein functional groups are expensive. Thus, due to this barrier, their use is restricted in some areas and alternatives are used for the diagnosis of chronic diseases, like cancer. These procedures are performed only by trained professionals. However, due to the lack of skilled professionals, the growth of protein labeling market is constrained, thus acting as a major barrier.

Asia-Pacific to Register the Highest CAGR
Due to technological advancements, rise in R&D investments, and surge in the demand for protein labeling products, North America dominates the market. The growth can also be attributed to a significant rise in healthcare expenditure in various countries of North America.
Due to the increasing demand in emerging economies and rising healthcare expenditure, the Asia-Pacific region is expected to register the fastest growth.

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This release was published on openPR.