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Research-Grade Proteins Market Trends, Strategies, Size, Share And Analysis 2024-2033
Research-Grade Proteins Market Trends
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According to The Business Research Company's, The research-grade proteins market size has grown exponentially in recent years. It will grow from $0.91 billion in 2023 to $1.11 billion in 2024 at a compound annual growth rate (CAGR) of 21.1%. The growth in the historic period can be attributed to increasing research activities, increase in R&D activities in pharmaceutical and biotechnology industries, rising demand for personalized medicine, rising investments from the government and various academic institutes, and strategic acquisitions and collaborations.
The research-grade proteins market size is expected to see exponential growth in the next few years. It will grow to $2.4 billion in 2028 at a compound annual growth rate (CAGR) of 21.3%. The growth in the forecast period can be attributed to advancements in proteomics research, growing number of clinical trials, integration of AI and data analytics, use of research-grade proteins in industrial applications and rising demand for advanced research tools. Major trends in the forecast period include growing awareness of innovative technologies, technological advancements in the biotechnology industry, advancements in proteomics and genomics, expanding applications in drug development and advanced research tools in the fields of biotechnology and pharmaceuticals.
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Market Drivers and Trends:
The rising adoption of electric vehicles is expected to propel the growth of the panel rack mount power connector market going forward. Electric vehicles (EVs) are vehicles powered entirely or partially by electricity, utilizing electric motors and batteries instead of internal combustion engines that run on gasoline or diesel. The adoption of electric vehicles is rising due to environmental concerns, better battery technology, government incentives, lower operating costs, and more charging infrastructure. Panel rack mount power connectors are useful for electric vehicles as they provide reliable and efficient power connections for EV charging stations, ensuring safe and stable power delivery to the vehicle's battery systems. For instance, in October 2023, according to the European Environment Agency, a Denmark-based government agency, in 2022, the EU saw significant growth in electric vehicle adoption, with electric cars making up 21.6% of new registrations and nearly two million electric cars registered, up from 1.74 million in 2021. Therefore, the rising adoption of electric vehicles is driving the growth of the panel rack mount power connector market.
Major companies operating in the research-grade proteins market are developing Cas9 proteins to enhance their functionality and applicability in genome editing and other biotechnological applications. Cas9 proteins help genome editing by acting as molecular scissors that can cut DNA at specific locations determined by a guide RNA (gRNA). For instance, in April 2022, Thermo Fisher Scientific Inc., a US-based biotechnology company, introduced an innovative GMP-manufactured Gibco CTS TrueCut Cas9 Protein, a high-quality, clinically compliant Cas9 protein produced under Good Manufacturing Practice (GMP) conditions. This product is designed for genome editing applications, offering high purity and functionality tailored for precise CRISPR-based research, facilitating advancements in genetic engineering and therapeutic development.
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Major Key Players of the Market:
Thermo Fisher Scientific Inc., Bio-Rad Laboratories Inc., Bio-Techne, Stemcell Technologies Inc., Miltenyi Biotec, GenScript Biotech Corporation, Sino Biological Inc., ACROBiosystems, OriGene Technologies Inc., RayBiotech Inc., Rockland Immunochemicals Inc., Proteintech Group Inc., Novus Biologicals LLC, Active Motif, Aviva Systems Biology Corporation, StressMarq Biosciences Inc., Abnova Corporation, AnaSpec, Biomatik, Prospec-Tany Technogene Ltd., Cusabio Technology LLC, United States Biological, Laurus Bio, Boster Biological Technology, AMS Biotechnology Europe Ltd (AMSBIO)
Research-Grade Proteins Market 2024 Key Insights:
• The research-grade proteins market size is expected to see exponential growth in the next few years. It will grow to $2.4 billion in 2028 at a compound annual growth rate (CAGR) of 21.3%.
• Impact Of Clinical Trials On The Research-Grade Proteins Market
• Impact of Cas9 Protein Development on Genome Editing and Biotechnological Applications
• North America was the largest region in the research-grade proteins market in 2023
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