Protein Crystallization Market - Growth, Trends, Covid-19 Impact, and Forecasts (2022 - 2027)

The Protein Crystallization Market is projected to register a CAGR of 8% during the forecast period (2022-2027).

Amidst COVID-19, the Protein Crystallization market is expected to grow owing to the rising cases of infectious disease among the people. An increase in the demand for vaccines and protein-based therapy to overcome the COVID-19 infection is expected to boost the market's growth. Also, the extensive usage of protein crystallization to develop the COVID-19 vaccination is expected to boost the market's growth. For instance, in January 2021, Elasmogen identified protein-based drugs that can potentially stop COVID-19 infections through a partnership with the University of Minnesota. Hence, the increasing prevalence of COVID-19 is expected to positively impact the market's growth.

The increasing demand for protein therapeutics is a key factor driving the market's growth. This is because protein therapeutics have become an integral part of the health care industry over recent years. Protein therapeutics are extensively used to treat various major diseases, such as cancer, owing to their low immunogenicity and specificity. The increasing demand fro protein-based drugs and therapeutics led the manufacturers to implement growth strategies to gain the major market share, thereby increasing the market's growth. For instance, in January 2022, Amgen announced that they would partner with Generate Biomedicines to discover and create protein therapeutics for five targets across several therapeutic areas and multiple modalities. The increasing demand for protein therapeutics is due to the increasing prevalence of Chronic disease and rising awareness regarding protein therapeutics efficiency. According to the World Health Organization (WHO), an estimated 19.3 million new cancer cases worldwide and almost 10.0 million cancer deaths will occur in 2020. Such an increase in chronic disease prevalence has increased the need to develop novel and efficient drugs. Protein Crystallization is widely used in drug discovery and development, which further propels the market's growth. Advancements in protein crystallography and the implementation of standard protocols create a lucrative opportunity for market growth. Increasing application fields and areas of protein crystallization for tailoring effective drug candidates contribute to the market's growth over the forecast period.

Key Market Trends

The Pharmaceuticals and Biotechnology Industries Segment is Expected to Hold a Major Market Share in the Protein Crystallization Market Marke

The pharmaceutical and biotechnology industries are expected to be the most lucrative segment, with extensive usage of Protein Crystallization in their production process. The pharmaceutical industry is expected to register significant revenue growth over the forecast period owing to the increasing application of protein crystallization in the drug discovery and development process and rising demand for protein therapeutics. The increasing innovative launches to meet the growing demand are also expected to boost the market's growth. For instance, in July 2021, DeepMind company announced the release of a massive protein structure database, which will be one of the most important databases since mapping the human genome. In November 2020, Rigaku Corporation announced the launch of Rigaky HyPix-Arc 100, a curved photon counting X-ray detector for single crystal X-ray diffraction applications. Thereby, the rise in the pharmaceutical industry's research and development expenditure significantly impacts the market's growth. For instance, in 2020, in the report published by the Congressional Budget Office (CBO), the pharmaceutical industry spent over USD 83 billion on the research and development process. The report states that Research and Development costs have increased by about 8.5 percent per year over roughly the past decade. Additionally, biotechnology companies are also expected to register significant revenue over the forecast period owing to the increasing application of protein crystallization for genomic engineering, proteomics research, and protein engineering.

North America is Expected to Hold a Significant Share in the Market and Expected to do Same in the Forecast Period

The United States is likely to command the global market owing to the technological innovations in protein crystallization. Owing to the increase in the research and development activities in the biopharma sector in the United States region, the Protein Crystallization market is expected to grow in this region. The robust growth of protein crystallization can be attributed to the rising investment and funding activities for proteomics research and for the development of structure-based drugs. According to the Binder Dijker Otte (BDO) USA Reports, in 2020, companies listed on the biotechnology index (NBI) average research and development spending increased by 16%, in 2020, to USD 284.25 million in the US pharmaceutical industry. Thus the increasing research and development activities in the United States region provide lucrative opportunities for the growth of the Protein Crystallization market. Moreover, the presence of major market players and advanced technologies for product development is expected to mark this region with dominating share. Additionally, an increase in research and development activities and the presence of favorable healthcare infrastructure are fueling the growth of the overall regional market to a large extent.

Competitive Landscape

The Protein Crystallization Market is fragmented and competitive and consists of several major players. In terms of market share, a few of the major players are currently dominating the market. Some companies currently dominating the market are Repligen corporation, Sartorius, Cytiva, Asahi Kasei Medical Co., Ltd, Parker Hannifin Corp, Mar cor, Koch Separation solutions, Meissner Filtration Products, Inc, Antylia Scientific, Biotree, and others.

Additional Benefits:

• The market estimate (ME) sheet in Excel format
• 3 months of analyst support

This product will be delivered within 2 business days.