Global Custom Recombinant Protein Production Services Market to Surpass US$ 6.7 Billion by 2026
SEATTLE--(BUSINESS WIRE)--Jun 21, 2019--
According to Coherent Market Insights, the global custom recombinant protein production services market was valued at US$ 2,600.21 million in 2017, and is projected to exhibit a CAGR of 11.2% over the forecast period (2018 – 2026).
Key Trends and Analysis of the Custom Recombinant Protein Production Services Market:
Key trends in market include, increasing demand for recombinant proteins, technological advancements in the production of recombinant proteins, and increasing funding in life sciences.
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Market players are actively investing in research and development to understand the normal functionality of cell and to identify the changes that lead to protein dysfunction during diseases, which is fuelling growth of the market. Moreover, increasing funding in life sciences is expected to boost the market growth. For instance, The Oxford Protein Production Facility-UK (OPPF-UK) in the U.K. received additional funding of US$ 3 million from Laboratory of Molecular Biology (MRC) to provide a range of highly specialized technologies incorporating robotic systems, for high throughput expression, purification, & crystallization of recombinant proteins. Similarly, the government of Sweden is focused on investing in life sciences research infrastructure and is participating in 73 research projects with a total funding of US$ 57 million.
Moreover, key players operating in the market are focused on adopting partnership strategies, which is expected to boost the market growth. For instance, in 2013, GVK Biosciences, a CRO based in Asia Pacific, collaborated with Endo Pharmaceuticals, to discover novel small molecules targeting a novel protein.
However, high cost of protein expression services used for R&D activities in the fields of biotechnology and pharmaceutical industry is the major factor restraining the market growth. For instance, the average cost of recombinant protein produced is around US$ 11000-17000/mg in E. coli expression system.
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Key Market Takeaways:
- The custom recombinant protein production services market is expected to exhibit a CAGR of 11.2% during the forecast period (2018 – 2026). This is owing to factors such as high demand for recombinant proteins, technological advancements in the production of recombinant proteins, increasing funding in life sciences, and launch of novel services. For instance, in 2017, GenScript launched its custom rabbit monoclonal antibody (mAb) service, MonoRab, as part of the integrated premium antibody service portfolio.
- Market growth is also attributed to approval and launch of novel products. For instance, in 2016, GenScript launched CRISPR-based Yeast Genome Editing Service with novel λ Red-CRISPR/Cas9 technology, thus making available a CRISPR-based custom yeast cell line editing service, commercially
- Key players in the market are focused on adopting collaboration and acquisition strategies to enhance their product portfolio, which in turn is expected to propel the market growth over the forecast period. For instance, in 2017, Crown Bioscience collaborated with Shanghai Model Organisms Center (SMOC) to exclusively license and commercialize SMOC’s comprehensive collection of genetically engineered models, including transgenic and reporter models for oncology, cardiovascular, and immunology research. Thus, the products will be available for international clients for custom model generation.
- Key players operating in the global custom recombinant protein production services market include, GenScript Biotech Corporation, Applied Biological Materials Inc., Eurofins Pharma Discovery Services, Abgent, OriGene Technologies, Inc., Crown Bioscience, Inc., BPS Bioscience, Inc., ProteoGenix, Kempbio, Inc., Novoprotein, Premas Biotech, Trenzyme GmbH, Atum, Novus Biologicals, LLC, Icosagen AS, LakePharma, Inc., Proteos, Inc., Aldevron, and Sino Biological Inc.
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About Coherent Market Insights:
Coherent Market Insights is a prominent market research and consulting firm offering action-ready syndicated research reports, custom market analysis, consulting services, and competitive analysis through various recommendations related to emerging market trends, technologies, and potential absolute dollar opportunity.
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SOURCE: Coherent Market Insights
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