Global Proteinase K Market Overview
The key driver impacting the proteinase K market is the growing incidence of chronic disorders. For instance, The National Center for Biotechnology Information (NCBI) report presents that almost one in three adults suffers from multiple chronic conditions (MCCs). The WHO report shows that chronic disease accounts for 60% of the worldwide disease burden in 2020. Globally cancer is responsible for the second most leading cause of death, and it accounted for 9.6 million deaths in 2018. Similarly, diabetes is also one of the most prevalent diseases globally. As per the International Diabetic Federation (IDF), In 2019, over 463 million adults (20-79 years) were living with diabetes, and it is likely to reach 700 million by 2045. Moreover, the growing applications of molecular diagnostic techniques and their associated enzymes for IVD contribute to the proteinase K's market growth in the coming years.
According to Value Market Research, the global proteinase K market size was valued at around USD 65 million in 2020 and is estimated to grow at a CAGR of about 7.5% during the forecast period 2021 to 2027.
The high utility of proteinase K in point of care (POC) diagnostic tests and pretreatment for efficient detection of COVID-19 are estimated to augment proteinase K in the forecast period. For example, it is used to pretreat sputum for the detection of SARS-CoV-2. Also, several benefits associated with the proteinase k enzyme lead to its high demand in point of care (POC) diagnostic tests. For example, it is a highly stable, highly reactive serine protease that can be used for several months when stored at 4 °C, thus creating a high demand for molecular diagnostics. However, the reimbursement challenges associated with diagnostic tests and other proteases' availability may hamper the market in the long run. Also, challenges associated with the purification & recovery of enzymes negatively impact the market. The current industry trends, such as the rising applications scope in molecular biology and other fields and growing demand for gene therapy, are expected to offer new lucrative market opportunities for the key players.
The Proteinase K market is vast, with many local and global players. The Proteinase K market is extensive, with many regional and international players. The important market leaders follow numerous strategies to improve their market position, such as acquisitions, extending product portfolio, contracts, amalgamation, contracts, acquisitions, product upgrades to enlarge their market share across the globe. The significant players studied in the report include Merck KGaA, F. Hoffmann-La Roche Ltd, Advanced Enzymes Technologies Ltd, BBI Solutions, American Laboratories, Codexis, Inc., Amano Enzyme Inc., Biocatalysts Ltd, Amicogen, Dyadic International, Affymetrix, and American Laboratories.
Know more about this report: Download free sample
In this research report, the Proteinase K market is segmented by therapeutic area, form, and region.
Analysis by Therapeutic Area:
By therapeutic area, the report is categorized into infectious diseases, diabetes, oncology, cardiology, nephrology, autoimmune diseases, neurology, and others. The Infectious Diseases segment dominates the therapeutic area segment with over 30.3% share in 2020. It is due to the wide applicability of proteinase K in the diagnosis of several infectious diseases. Moreover, the use of proteinase K results in the separation of the HBV genome from protein, which facilitates efficient isolation of DNA from the aqueous phase and contributes to the massive demand from the infectious disease segment in the forecast period.
Analysis by Form:
By Form, the report is categorized into Powder and Liquid. The core proteinase K services segment dominates the form segment with over 50% share in 2020. It is due to its high adoption as powdered formulation of proteinase K is advantageous as compared to the liquid one. Moreover, the increasing importance of such studies for targeted diagnosis and treatment leads to rising demand contributing to the Proteinase K powdered form segment growth in the forecast period.
Analysis by Region:
In the regional outlook of the global Proteinase K market, the North America region dominates globally with a 40% market share in the forecast period. It is due to the well-established healthcare infrastructure, an increase in investments by the public & private sectors in In Vitro Diagnostics (IVD). The initiatives like the Newborn Sequencing in Genomic Medicine and Public Health (NSIGHT) program by National Human Genome Research Institute to screen infants for genetic diseases also add growth to the market. Moreover, the high adoption rate of molecular diagnostics and the presence of a substantial number of market players contribute to tremendous market growth across North America.
Market Segmentation covered in the Report:
By Therapeutic Area
- Infectious Diseases
- Diabetes
- Oncology
- Cardiology
- Nephrology
- Autoimmune Diseases
- Neurology
- Others
By Form
By Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
In case you have any custom requirements, do write to us. Our research team can offer a customized report as per your need.