During the forecast period (2017–2023), the protein expression market is projected to grow at a CAGR of 11.7% to $3.0 billion (by 2023) from $1.4 billion (in 2016), the growth of the protein expression market can be attributed to the investment by major key players in developing technologically advanced products to produce high protein yield. Other factors aiding in the growth of the market are the increasing aging population, rising prevalence of chronic diseases, growth of the life sciences sector, and availability of funding for protein-based research.
Insights on market segments
On the basis of system, prokaryotic expression systems held the largest share in the protein expression market due to their extensive use and the fact that these are more cost-effective than other expression systems, such as insect cell expression systems.
Based on product and services, reagents are projected to hold the largest share in the protein expression market during the forecast period due to the rising protein expression research activities and the large-scale production of vaccines and antibodies.
Based on application, therapeutic occupied the largest share of the protein expression market in 2016, because of the high efficacy of protein therapeutics and increasing prevalence of chronic diseases, such as cancer and diabetes.
In 2016, pharmaceutical and biotechnology companies contributed the highest revenue to the protein expression market. This was primarily because of the rising production of recombinant therapeutic proteins for disease treatment and the technological advancements in protein expression research.
North America stands as the largest protein expression market
When geography is considered, North America has been the largest market for protein expression, with the U.S. as the larger contributor to the regional market as compared to Canada. This position of North America is attributed to the increasing prevalence of chronic diseases, growth in R&D infrastructure, surge in healthcare expenditure, and increasing aging population.
Europe acquired the second position in the global protein expression market in 2016, with Germany as the largest contributor, followed by the U.K. and France. The progress of the European market was primarily because of the growing aging population, rising incidence of cardiovascular diseases, neurological disorders, chronic pain, and infections, and expanding R&D infrastructure. The Asia-Pacific region is predicted to experience the fastest growth during the forecast period due to the increment in R&D expenditure, rising prevalence of chronic diseases (mainly cardiovascular diseases and diabetes), increasing per capita income, and surging aging population.
Increasing prevalence of chronic diseases is driving the growth of the market
Cancer, hepatitis, and viral diseases such as HIV/AIDS, chronic obstructive pulmonary disease (COPD), and cardiovascular diseases, are some types of chronic diseases. According to the World Health Organization (WHO), 60.0% of all deaths are caused by chronic diseases, among which cardiovascular diseases are the leading cause of deaths, globally. Chronic diseases require clinical intervention, where protein expression has assumed a significant role; therefore, the increasing prevalence of such diseases is contributing to the protein expression market growth.
Key Players are entering into partnerships to serve consumers better
In 2017, LabCorp (a medical laboratory tests and services provider), and Cancer Genetics Inc. (CGI), a provider of DNA-based cancer diagnostics and services, signed agreements with Thermo Fisher Scientific Inc., in order to join the NGS Companion Dx Center of Excellence Program (COEP). The laboratories further participated in oncology-focused clinical trials in collaboration with Thermo Fisher Scientific Inc. and several other pharmaceutical companies operating in the protein expression market.
GenScript Biotech Corporation, QIAGEN N.V., Agilent Technologies Inc., Bio-Rad Laboratories Inc., New England Biolabs Inc., Lonza Group Ltd., Merck KGaA, and Promega Corporation are some other players in the protein expression market.
GLOBAL PROTEIN EXPRESSION MARKET SEGMENTATION
By Product and Services
By End User