The global protein expression market is projected to reach USD 4.21 billion by 2028, at a CAGR of 10.21% from 2021 to 2028. This growth is attributed to the increasing demand for protein expression systems to develop therapeutic proteins, antibodies, and enzymes. The use of recombinant protein expression systems for research and development activities will further drive the market.
The increasing number of CROs and outsourcing of protein expression services will also contribute to the market growth. The rising focus on personalized medicine, the development of novel protein expression systems, and the increasing demand for biopharmaceuticals will fuel the demand for protein expression services.
The market is segmented on the basis of technology, end-user, and region. On the basis of technology, the market is divided into cell-free expression, cell-based expression, and others. The cell-based expression has the largest market share and is expected to register the highest growth rate during the forecast period.
On the basis of end users, the market is categorized into biotechnology and pharmaceutical companies, academic and research institutes, and others. The biotechnology and pharmaceutical companies segment is expected to have the highest growth rate during the forecast period.
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The geographical segmentation of the market includes North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa. North America has the largest market share of 38.4% in 2020, followed by Europe and Asia Pacific. The growing number of biotechnology and pharmaceutical companies and the presence of key players in the region will contribute to the market growth in North America.
The major players in the market are Thermo Fisher Scientific Inc., Merck KGaA, Promega Corporation, Agilent Technologies, Inc., and Takara Bio, Inc. These players are involved in the development of novel products, strategic collaborations, and acquisitions to gain a competitive edge in the market.
