The global protein expression market is expanding in the recent years owing to the increasing incidence of chronic diseases, growth in the geriatric population, and growing demand for protein biologics. As a result, the global protein expression market size is estimated to reach USD 4.7 billion by 2026 from USD 2.2 billion in 2020. The market is expected to witness a CAGR of 13.31 per cent between 2019 and 2026. The emerging economies are expected to create significant growth opportunities for the key players in this market. However, due to the high cost of protein expression reagents and instruments, as well as the augmenting consolidation and high barriers for new entrants, the growth pace for the global protein expression market is hindered.
On the basis of the application, the protein expression industry is segmented into therapeutic, industrial, and research. Within this segment, therapeutic applications held the largest share of the protein expression market in 2019. The growth of this sub-segment is primarily attributed to the rising incidences of the disease and growing R&D activity. In addition, the large share of this segment can be attributed to an increase in proteomics-based research and the increasing occurrence of chronic diseases around the globe.
According to the geographical analysis, within the global protein expression market, the Asia-Pacific region is expected to grow at the highest CAGR over the forecast period. The major reasons propelling the growth in this region comprise high incidence of chronic diseases, increasing public and private investments, and increase in life sciences research.
Some of the prominent players in the global protein expression market comprise Thermo Fisher Scientific Inc. (US), Genscript Biotech Corporation (US), Takara Bio, Inc. (Japan), Merck KGaA (Germany), Agilent Technologies, Inc. (US), Promega Corporation (US), New England Biolabs (US), Bio-Rad Laboratories (US), Lonza (US), Oxford Expression Technologies Ltd. (US), and Synthetic Genomics Inc. (US).
Thermo Fisher Scientific Inc. is the largest player in the global protein expression market. The large share of this company is due to its strong suite of expression vectors, reagents, competent cells, and instruments. In accordance to its strong sales and distribution network, the company has a significant global footprint. Additionally, the large number of production sites provide it with a competitive advantage over other companies in the global protein expression market. The company also focuses on product launches to create a strong foothold in this market.
Check the report description at: Global Protein Expression Market, Size, Trends & Analysis - Forecasts to 2026