Future Market Insights has announced the addition of the “Proteinase K Market: Global Industry Analysis and Opportunity Assessment, 2016-2026"report to their offering.
Valley Cottage, NY -- (SBWIRE) -- 09/05/2017 -- Proteinase K is a million dollars market accounting for a small portion in reagents and enzymes. The Global Proteinase K market is classified into two main segments – lyophilized powder form and liquid form. By application the market is segmented as purification of DNA & RNA, in situ hybridization, mitochondria isolation and enzyme removal. Proteinase K is mainly used in contract research organisations, biotechnology companies, academic institutes, and diagnostics laboratories. In terms of revenue, the global Proteinase K market is expected to reach US$ 18.5 Mn in 2016, witnessing a year-over-year growth of 6.1%.
A plethora of factors are expected to impact the growth of the global Proteinase K market. A significant rise in research and development activities, lesser production costs, broader application of Proteinase K and good product stability and specificity of Proteinase K will give a massive push to the revenue growth of the global Proteinase K market by the end of the forecast period. A steady rise of chronic diseases and better government-backed investment channels to fund advanced research and development are expected to expedite the expansion of the global Proteinase K market over the period of assessment.
A slew of research activities, soaring expenditure on personal healthcare and increasing adoption of gene therapy has been significantly high in the U.S. market in the recent years, making North America the most lucrative market globally. As per a report published by the Cancer Society of America, in 2016, the population of cancer patients is skyrocketing within the country. The use of Proteinase K is high in gene therapy for hereditary diseases such as cancer, diabetes and others. The North America Proteinase K market revenue was accounted to be US$ 6.5 Mn in 2015, with the U.S. contributing a majority of revenue share.
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By product form, lyophilized powder form segment accounted for higher revenue share in global Proteinase K as compared to liquid form segment. Lyophilized powder from segment is expected to reach a value of US$ 19.2 Mn by 2026, reflecting a CAGR of 6.3% over the forecast period. The growth in lyophilized powder form can be attributed to the increasing advantages of powder form over liquid form in case of storage and preservation of sample
By application, purification of DNA & RNA segment accounted for highest revenue share in global Proteinase K market as compared to other applications of Proteinase K. Purification of DNA & RNA segment is expected to reach a value of US$ 19.2 Mn by 2026, reflecting a CAGR of 6.5% over the forecast period. This is expected to be followed by mitochondria isolation and enzyme removal application
By end-user, biotechnology companies account for higher demand for Proteinase K as compared to other end user segments such as academic institutes and diagnostics laboratories. The strong growth in biotechnology companies can be attributed to an increasing use of Proteinase K in research and development and new drug discovery. The cost effectiveness of Proteinase K over other reagents is the key factor responsible for its increasing use in biotechnology companies. Biotechnology companies segment is expected to register highest CAGR of 6.7% over the forecast period
Regional market projections
Demand for research in academics and funding facilities provided by the US government to support gene therapy and other activities for drug development is anticipated to boost the North America Proteinase K market. Followed by North America, APEJ and Western Europe are the most lucrative regions of the global Proteinase K market and are anticipated to grow by 6.1% and 5.7% respectively over the forecast period. Increasing demand for drug development, rising hereditary diseases due to changing lifestyles and growing disposable income are some of the factors expected to contribute to the growth of the global Proteinase K market.
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Top companies profiled in the global Proteinase K market report include Thermo Fisher Scientific Inc., Merck KGaA, Qiagen N.V., Worthington Biochemical Corporation, Sisco Research Laboratories Pvt. Ltd, Promega Corporation, Bioline and F. Hoffmann-La Roche AG among others. Leading market players are adopting different strategies such as product launches and acquisitions to maintain their market share. For instance, in November 2015, Merck KGaA acquired Sigma-Aldrich to strengthen and expand its consumable and reagent portfolio.