NEW YORK, May 28, 2018 (GLOBE NEWSWIRE) -- 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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Increasing research activities on recombinant-based protein expression is a major trend in the protein expression market. Recombinant production of proteins is one of the most powerful molecular biology techniques used in the life sciences sector for its industrial application in producing biopharmaceuticals. The ability of producing abundant volume of purified and desired recombinant protein leads to its extensive potential application such as, in industrial processes, or its use to diagnose or treat diseases. Increase in research to understand efficient expression of novel and difficult proteins through protein and cell line engineering is an essential step to support future drug discoveries. A major prerequisite for drug discovery is that recombinant proteins can be produced in adequate amount and are of appropriate quality. Major players are focusing on expanding their research activities and investing on recombinant based protein expression for production of large volume of recombinant protein to be used as biotherapeutics and are also to support drug discoveries.
The major players in the protein expression market are entering into partnerships with other firms to gain a larger share in the market. For instance, in July 2017, LabCorp, a medical laboratory tests and services provider through a national network of primary clinical laboratories and specialty testing group laboratories, and Cancer Genetics, Inc. (CGI), DNA-based cancer diagnostics and services provider, signed agreements with Thermo Fisher Scientific to join the NGS Companion Dx Center of Excellence Program (COEP). As preferred partners, each laboratory will participate in oncology-focused clinical trials in collaboration with pharmaceutical companies and Thermo Fisher. The companies may also qualify for early access to Thermo Fisher's pipeline of novel platforms and assays to assist with development of Oncomine-branded solutions for clinical and biopharma applications.
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Some of the key players operating in the protein expression market include Merck KGaA, Thermo Fisher Scientific Inc., Agilent Technologies Inc., Genscript Biotech Corporation, Bio-Rad Laboratories Inc., Promega Corporation, New England Biolabs Inc., Lonza Group Ltd. and Qiagen N.V.
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