PUBLISHER: MarketsandMarkets | PRODUCT CODE: 1594226
PUBLISHER: MarketsandMarkets | PRODUCT CODE: 1594226
The global Protein Expression market is projected to reach USD 4.82 billion in 2029 and is from USD 3.41 billion by 2024, at a CAGR of 7.1% during the forecast period. Factors such as the increasing demand for biologics supported by the rise in R&D activities in the pharmaceutical and biopharmaceutical industry and the growing use of artificial intelligence and machine learning to enhance protein-based studies are supporting the growth of the market. Moreover, factors such as the ongoing shift toward the development of personalized medicines, the rise in outsourcing services for clinical activities, the growing emphasis on the use of plant-based and cell-free expression systems, and the development of synthetic protein production technologies provide growth opportunities for players within the protein expression market. However, the high cost of protein expression reagents and instruments and the challenges associated with various expression systems are expected to restrain the growth of this market.
Scope of the Report | |
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Years Considered for the Study | 2022-2029 |
Base Year | 2023 |
Forecast Period | 2024-2029 |
Units Considered | Value (USD) |
Segments | By System Type, Offerings, Workflow, Application, Product End user, Service End User, and Region |
Regions covered | North America, Europe, Asia Pacific, Latin America, Middle East and Africa |
"The product segment registered the highest growth rate in the protein expression market, by offerings, during the forecast period"
In 2023, the products segment registered the highest growth rate within the protein expression market by offerings. Factors such as the rise in protein-based research and increasing approvals and commercialization of biologics, such as antibodies and vaccines are supporting the high growth of this segment. The products segment includes various reagents & kits, expression vectors, competent cells, and instruments that aid during various phases of protein expression. Reagents & kits accounted for the largest segment of the protein expression products market due to the continuous demand for these products during the protein expression workflow. Advancements in protein expression technologies and the launch of new and efficient reagents and kits are also supporting the growth of this product segment. Additionally, the rising focus on personalized medicine and biologics, such as antibodies and vaccines, is creating more demand for these products.
"The academic research institutes registered the highest growth rate in the protein expression services market, by end user, during the forecast period"
The academic research institute end user segment registered the highest growth rate within the protein expression services market by end user during the forecast period. Factors such as the increasing demand for innovative research solutions for biological and biomedical research supported by an increase in funding and grants from governments and pharmaceutical companies are supporting the high growth of this end user segment. Moreover, there is an increase in the number of collaborations between research institutes and pharmaceutical companies for the development of protein-based therapies such as antibodies and vaccines for the treatment of various chronic illnesses. This high growth is projected to continue during the forecast period.
"North America: The largest and fastest-growing region in the Protein Expression market"
The protein expression market in North America is projected to register the highest growth rate during the forecast period. This high growth is attributed to the presence of an established biotechnology and pharmaceuticals sector focusing on the development of protein-based therapies leading to a high demand for protein expression products and services. The region has key protein expression products and services suppliers and end-users as well as advanced research facilities and large R&D expenditures. In addition, the rise of chronic conditions such as cancer and diabetes has also supported the need for new protein-based drugs, increasing the demand for efficient protein expression technologies. In addition, the support and funding from the government for life sciences research also support the large market share of North America in the global protein expression market.
This report provides a detailed picture of the global Protein Expression Market. It aims at estimating the size and future growth potential of the market across different segments such as the system type, offerings, workflow, application, products end user, services end user, and region. The scope of the report covers detailed information regarding the major factors, such as drivers, restraints, challenges, and opportunities, influencing the growth of the protein expression market. A detailed analysis of the key industry players has been done to provide insights into their business overview, solutions, and services; key strategies; Contracts, partnerships, agreements, new product & service launches, mergers and acquisitions, and recent developments associated with the protein expression market. Competitive analysis of upcoming startups in the protein expression market ecosystem is covered in this report.
The report will help the market leaders/new entrants in this market with information on the closest approximations of the revenue numbers for the overall protein expression market and the subsegments. This report will help stakeholders understand the competitive landscape and gain more insights to position their businesses better and plan suitable go-to-market strategies. The report also helps stakeholders understand the pulse of the market and provides them with information on key market drivers, restraints, challenges, and opportunities.