The global protein expression market size was $1.4 billion in 2016, which is expected to reach $3.0 billion by 2023, growing at a CAGR of 11.7% during the forecast period (2017-2023). Protein expression refers to a process by which proteins are synthesized, altered and regulated in living organisms. In protein research, the term (protein expression) can apply to either the object under study or the laboratory techniques that are required to manufacture proteins. Protein expression is an important part of proteomics study that allows the expression of recombinant proteins in various host systems. Key factors driving the growth of the global protein expression market include increasing prevalence of chronic diseases, rise in the availability of funding for protein-based research, technological advancements, growing aging population and increasing growth in the life science sector.
The healthcare industry has been undergoing rapid changes in the emerging economies due to rising government expenditure, increasing number of hospitals, increase in the number of surgeries, and rising healthcare awareness. In emerging economies such as India, China, Brazil, and Mexico, the share of government spending on healthcare has increased significantly over the past. According to World Bank, Brazil spent 8.3% of its $2.5 trillion GDP on healthcare in 2014. Similarly, China spent 5.5% of its total GDP on healthcare, and Mexico spent 6.3% of its total GDP on healthcare in the same year. The exploration of these emerging economies would provide plenty of opportunities to the key players in the protein expression market.
Taking into an account of the geographical landscape, North America dominated the global protein expression market in 2016 followed by Europe. The Asia-Pacific region is expected to register the fastest growth during the forecast period, owing to rising prevalence of diseases such as cardiovascular disease and diabetes, growing aging population, increasing R&D spending and rising per capita income.
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