The market is growing due to increased R&D, as well as demand for ligand ID and rapid purification kits
According to a new market research report, ‘Protein Purification & Isolation Market by Technology (Precipitation, Dialysis, Electrophoresis, Western Blotting, Ion Exchange & Affinity Chromatography) by Product (Instruments, Kits, Reagents, Resins) by Application & End User: Global Forecast to 2020,’ published by MarketsandMarkets, the global protein purification and isolation market was valued at US$3970m in 2014 and is expected to reach $6370m by 2020, growing at a CAGR of 8.3% during the forecast period from 2015 to 2020.
The global protein purification and isolation market is witnessing high growth owing to factors such as increased research in the pharmaceutical and biotechnological fields, and the growing need to identify new ligands and rapid purification kits to rapidly screen, prepare, purify and concentrate protein samples.
Increased funding from both public and private research bodies for research and development, technological advancements such as single-use purification technology, and growing research in the field of structure-based drug design are further driving the growth of this market.
However, the high cost of instruments, soaring research and development (R&D) costs, difficulty in developing one-size-fits-all purification kits and a dearth of skilled professionals are restraining the growth of the global protein purification and isolation market.
In this report, the protein purification and isolation market is segmented by technology, product, application, end-user and geographic region. The report also discusses key market drivers, restraints and opportunities, and predicts growth at a CAGR of 8–9% during the forecast period.
In 2014, North America accounted for the largest share of the protein purification and isolation market, followed by Europe and Asia-Pacific (APAC). Growth in the North American region can be attributed to the presence of a large number of protein purification and isolation market players in this region, a developed pharmaceutical and biotechnology R&D infrastructure, and technological advancements in the proteomics field.
However, the APAC region represents the highest growth opportunity for the protein purification and isolation market during the forecast period owing to the growing investments by emerging countries such as China, India and Brazil, increased R&D investments and rising government funding.
Major players in the Protein Purification and Isolation Market include Thermo Fisher Scientific, Inc. (US), Merck Millipore (US), QIAGEN NV (Netherlands), Bio-Rad Laboratories, Inc. (US), Agilent Technologies (US), Sigma-Aldrich Corporation (US), Promega Corporation (US), Purolite Corporation (US), GE Healthcare Life Sciences (UK) and Roche Applied Science (Switzerland).