The Global Proteinase K Industry is on the verge of a substantial growth trajectory, poised to reach a noteworthy valuation of US$ 43.9 million by the year 2033, as indicated by the latest report from Future Market Insights (FMI). This anticipated surge is underpinned by a robust compound annual growth rate (CAGR) of 4.8%, projected to manifest from 2023 to 2033. The impetus behind this remarkable growth is the escalating demand for proteinase K across various molecular biology applications.
Proteinase K, a serine protease enzyme, plays a pivotal role in diverse molecular biology applications such as DNA extraction, protein purification, and cell lysis. Its versatility is evident in its capability to cleave a broad spectrum of proteins, including keratin, collagen, and elastin.
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Global Proteinase K Industry: Segmental Forecast
- By form, the lyophilized powder form segment is anticipated to account for a higher revenue share in the global Proteinase K as compared to the liquid form segment. Lyophilized powder from the segment is expected to reach a market 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 the case of storage and preservation of samples.
- By application, purification of DNA & RNA segment will account for the highest revenue share in the 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.
- By end user, the biotechnology companies segment is expected to project 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. The biotechnology companies segment is expected to register the highest CAGR of 6.7% over the forecast period.
Global Proteinase K Industry: Regional Market Projections
Demand for research in academics and funding facilities provided by the U.S 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, Western Europe and APEJ are the most lucrative regions in the global Proteinase K market and are anticipated to grow by 5.7% and 6.1% 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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Global Proteinase K Industry: Vendor Insights
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.
Global Proteinase K Industry Segmentation Form
- Lyophilized Powder Form
- Liquid Form
Application
- Isolation and purification of genomic DNA & RNA
- In Situ Hybridization
- Mitochondria isolation
- Enzyme Removal
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Future Market Insights, Inc. (ESOMAR certified, Stevie Award – recipient market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments based on Source, Application, Sales Channel and End Use over the next 10-years.
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