Why will Protein A Resin Market Boom in North America in Future?

In 2019, the global protein A resin market reached a valuation of $486.4 million in 2019 and is predicted to generate a revenue of $1,020.7 million by 2030. As per the market research company, P&S Intelligence, the market will advance at a CAGR of 7.0% between 2019 and 2030. The rising incidence of chronic diseases, the surging geriatric population, and the soaring investments being made for protein-based research are the main factors fueling the expansion of the market.

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Several private and public organizations and institutes are making huge investments in protein-based research programs for improving therapeutic procedures. For example, the National Institute of Health (NIH), which is a healthcare research center based in the U.S., makes an investment of around $32.3 million in medical research every year. The organization provides grants to the various research projects and programs being carried out in the medical and life sciences fields.

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Moreover, this share is predicted to rise to nearly 22% of the global population by 2050. Apart from these factors, the growing incidence of chronic diseases is also driving the progress of the market around the world. This is because the rising occurrence of various chronic diseases and health problems is pushing up the requirement for novel therapeutic methods for efficient and effective disease management. Based on source, the market is divided into natural and recombinant.

Between these, the recombinant category recorded higher growth in the market during the last few years. This was because of the rising requirement for recombinants in antibody purification processes. The protein a resin market is also classified, on the basis of end user, into biotechnology and pharmaceutical industries and academic institutes and research laboratories. Of these, the biotechnology and pharmaceutical industries registered higher growth in the market in the past years.

This is credited to the fact that these industries require huge amounts of protein a resin for producing antibodies. Geographically, the protein a resin market is predicted to demonstrate the largest expansion in North America in the upcoming years. This will be because of the growing requirement for protein-based therapies for treating various chronic diseases and the increasing number of products approved by the Food and Drug Administration (FDA) in the region.

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This release was published on openPR.