PUBLISHER: Grand View Research | PRODUCT CODE: 1552591
PUBLISHER: Grand View Research | PRODUCT CODE: 1552591
The global protein expression market size is expected to reach USD 6.51 billion by 2030, according to a new report by Grand View Research, Inc., expanding at a CAGR of 10.22% from 2024 to 2030. The increasing research in proteomics and genomics, the rising incidence of chronic diseases, and escalating demand for biologic products around the globe are enhancing the demand for protein expression, which is likely to drive the market. For instance, in April 2022, in a research published on Frontiers Media S.A., researchers differentially expressed 22 proteins to identify potential diagnostic biomarkers for Multiple Sclerosis (MS).
An increase in R&D investments by the players is estimated to have a considerable impact on the usage of protein expression. In August 2022, the managing director of Biocon Biologics stated in one of his interviews that the overall cost of the R&D is 12-14% of revenues. The investment is essential to build a sustainable portfolio of around 20 biosimilar molecules and the company is anticipated to launch at least once every 1-2 years. The approximate cost of developing these molecules is USD 50-100 million.
Other determinants such as rapid acceleration in the demand for protein therapeutics and government investment in the applications of the protein expression industry are also supporting the market growth. For instance, in May 2022, Proteomics International Laboratories was awarded approximately USD 286,833 funding from the Australian Government under the Medical Research Future Fund (MRFF) initiative. The funding is expected to support the manufacturing of the PromarkerD test in Australia. Such financial assistances are likely to supplement the market growth in the coming years.
The outbreak of the COVID-19 pandemic developed the urge to profile and conduct differential gene expression analyses on COVID-19 patients. Research published in Briefings in Bioinformatics, March 2021, employed the data of protein-drug interaction to identify the prospective drugs for COVID-19. As a result, the usage of the process is projected to upsurge during the COVID-19 pandemic and contribute to market growth.
The growing requirement for personalized therapy and vaccine is expected to be the key factor fueling the market growth during the forecast period. For instance, in January 2022, Amgen announced a collaboration with Generate Biomedicines to discover and develop protein therapeutics for various areas. The companies are estimating the worth of this collaboration around USD 1.9 billion.
The increasing development of recombinant proteins for industrial use, such as the production of food and beverages, is anticipated to boost the use of protein expression in the non-healthcare sector. However, the retail pricings of recombinant proteins for industrial and pharmaceutical uses are drastically different as pharmaceutical proteins are sold for billions of dollars per kg, while industrial proteins for tens of dollars per kg. R&D, clinical trials, and patents are the additional requirements of pharmaceutical proteins.