The protein expression market is expected to reach $3.0 billion by 2023, growing at a CAGR of 11.7% between 2017-2023. Key factors driving the growth of the market include increasing prevalence of chronic diseases, rise in the availability of funding for protein-based research, technological advancements, growing aging population and increasing growth in the life science sector.
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Major players in the protein expression industry are developing products with technically advanced features that are designed to produce high protein yield, and maintain a balance of speed and scalability; thereby, enhancing its application in the drug development workflow. One of the recent advanced product launched by the major players in the market include Gibco ExpiCHO expression system, launched in 2015 by Thermo Fisher Scientific Inc., that offers an increase yield of over 100-fold, thereby enabling up to 3g/L of protein yield; in comparison to its previous CHO system. Therefore, technically advanced products will drive the growth of the protein expression market during forecast period.
The Asia-Pacific market for protein expression is expected to reach $824.8 million by 2023, growing at a CAGR of 13.5% between 2017-2023. The Asia-Pacific protein expression market has been experiencing growth due increasing prevalence of diseases such as anaphylaxis and diabetes, increasing aging population, increased R&D spending, and increasing per capita income. Among the countries in the Asia-Pacific region, Japan held the largest share of the Asia-Pacific market for protein expression in 2016. However, India is the fastest growing region with a CAGR of 14.1% during 2013-2016, which is expected to increase to 16.0% during the forecast period. The growth of the market in India is mainly attributable to the increasing expenditure of government on the healthcare sector.
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Some of the key players operating in the protein expression market include Thermo Fisher Scientific Inc., Merck KGaA, Genscript Biotech Corporation, Agilent Technologies, Inc., Promega Corporation, Bio-Rad Laboratories, Inc., Qiagen N.V., New England Biolabs Inc., and Lonza Group Ltd.
Source: P&S Intelligence