Protein Expression Technology Market is projected to expand at a stellar CAGR of 10.2% throughout the period of 2017-2027
According to this extensive research, the global protein expression market is expected to grow at a robust CAGR of 7.7% and reach a market size of more than US$ 3 Bn by the end of 2027 from a value of around US$ 1,700 Mn in 2017. The estimates are based on a systematic primary and secondary research, considering the major drivers, restraints that are limiting the market and also the trends following the global protein expression technology market.
Global Protein Expression Technology Market: Dynamics
The growth of global protein technology market is contributed mostly by the advancements in technology. It is also accompanied by many other factors that are helping in the expansion of market. The major drivers are enhanced sales network and distribution channels, increasing demand in proteomics and biologics and growing demand for therapeutic antibody research. However, there are also a few factors that are limiting the growth of global protein expression technology market like in-house development of expression systems, high cost associated with expression vectors and other reagents, complex workflow and also low protein production which has the maximum restraining force.
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Global Protein Expression Technology Market: Segmental Highlights
The global protein expression technology market is segmented on the basis of expression system, product type, application, end user and region.
Among these major segment types, expression system segment is expected to have the maximum impact on the market with mammalian expression system being the most dominant segment which marks a revenue of over US$ 630 Mn and is anticipated to reach a value of around US$ 1.6 Bn by the end of 2027
The region segment is dominated by North America region in terms of value, with a CAGR of 8.5% throughout the period of forecast. The protein expression technology market in APEJ region is projected to grow at the highest pace to register a CAGR of 8.7% and reaching a revenue of about US$ 600 Mn by 2027 end
The product type segment is dominated by Reagents, growing at a CAGR of over 8% during the forecast period. It is followed by expression vectors which is anticipated to reach a CAGR of over 7% during 2017-2027
End user segment is another important segment type which includes pharmaceutical companies as its dominant segment. This segment is expected to mark a revenue value of US$ 710 Mn in 2017
By application, protein therapeutics segment is expected to be highly lucrative. It is the leading segment in terms of both value share and growth rate. By the end of the forecast period, this segment is estimated to reach a value of more than US$ 1.5 Bn with a high 8.4% CAGR during the forecast period
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