The North America Research-grade Proteins Market would witness market growth of 14.5% CAGR during the forecast period (2023-2030).
The market for research-grade proteins is a biotechnology and life sciences sector that provides proteins for scientific research. These proteins are utilized in various disciplines, such as pharmaceuticals, biotechnology, academic research, and diagnostics. Advancements in proteomics research, increased R&D movements in the biotechnology and pharmaceutical sectors, and the rising demand for personalized medication are expected to drive market growth during the forecast period.
In addition, the advancements in synthetic biology over the years are responsible for the healthcare industry's transition towards biologics. Recombinant DNA technology has provided a way to produce recombinant proteins, which can be used for discovering new drug therapeutics, diagnostics, vaccines, and even advanced therapies like cell & gene therapy, which have fewer adverse effects and greater precision. Moreover, the extensive research and industrial applications of recombinant proteins have led to the development of innovative bioprocessing technologies.
The Congressional Budget Office states that the US pharmaceutical industry develops new drugs that supply helpful medical benefits. Multiple of those drugs are costly and contribute to rising healthcare costs for the private sector and the federal government. Policymakers have considered policies to lower drug prices and reduce federal drug expenditures. Such policies would reduce the industry's incentive to develop new drugs. The pharmaceutical industry's continuous growth and innovation and its increasing focus on precision medicine and biologics are expected to sustain the demand for research-grade proteins in the United States.
The US region dominated the North America Research-grade Proteins Market, by Country in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $730.7 Million by 2030. The Canada market is experiencing a CAGR of 17.1% during (2023 - 2030). Additionally, The Mexico market would exhibit a CAGR of 16.1% during (2023 - 2030).
Based on Host Cell, the market is segmented into Mammalian Cells, Bacterial Cells, Yeast & Fungi, Insect Cells, and Others. Based on Product, the market is segmented into Cytokines & Growth Factors, Immune Checkpoint Proteins, Enzymes, Hormones, Antibodies, Virus Antigens, Recombinant Regulatory Proteins, and Others. Based on End-use, the market is segmented into Pharmaceutical & Biotechnology Companies, Academic & Research Institutes, and Others. Based on countries, the market is segmented into U.S., Mexico, Canada, and Rest of North America.
Free Valuable Insights: The Research-grade Proteins Market is Predict to reach $2.5 Billion by 2030, at a CAGR of 15.2%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Thermo Fisher Scientific, Inc., Abcam Plc, Miltenyi Biotech B.V. & Co. KG, Genscript Biotech Corporation, Bio-Techne Corporation, Proteintech Group, Inc., AcroBiosystems INC., Sino Biologicals, Inc. and ProSpec-Tany TechnoGene Ltd. and New England Biolabs, Inc.
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