The rising burden of chronic disorders and infectious diseases and the growing applications of diagnostic techniques and their associated enzymes for IVD are boosting proteinase K market growth.
NEWARK, Del, Dec. 01, 2023 (GLOBE NEWSWIRE) — The proteinase K market is expected to reach US$ 27.5 million by 2023, putting it on the verge of a significant worth. The primary factor propelling the expansion is the increasing awareness and understanding of the proteinase K industry. Given that the trend is expected to grow at a 4.8% CAGR from 2023 to 2033, new possibilities in the market are expected to arise. The market is expected to surge to a total projected valuation of approximately US$ 43.9 million by 2033.
The proteinase K market is poised for growth, with several key factors driving its expansion. One prominent growth driver is the increasing demand for proteinase K in Point-of-Care (POC) diagnostics applications, which is likely to fuel market growth. Innovative technological advancements have led to the development of numerous smartphone-based POC devices and related tools, enhancing the overall market. For example, the ACMC platform-based smartphone application integrates with autonomous capillary microfluidic chips for cardiac troponin I testing in myocardial infarction diagnosis. The technology holds particular promise in resource-constrained developing economies.
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The market is further propelled by the broad applications of molecular diagnostic techniques and the associated enzymes for In Vitro Diagnostics (IVD). Recombinant proteinase K from Tritirachium is utilized for nonspecific digestion in diagnostics and Next-Generation Sequencing (NGS)-grade applications requiring limited residual DNA content. Proteinase K is a valuable supplement in various molecular diagnostic applications, including NGS and Polymerase Chain Reaction (PCR).
NGS, in particular, is experiencing a surge in adoption driven by personalized medicine and clinically developed therapies. The use of NGS sequencers in pathology labs is widespread, focusing on targeted panels and gene expression profiling via quantitative PCR. Moreover, the declining cost of sequencing has expanded the use of NGS technologies, making them more accessible. As a result, the rising demand for NGS diagnostic techniques is anticipated to drive the uptake of proteinase K in the coming years.
These trends reflect a promising outlook for the proteinase K market, driven by advancements in POC diagnostics and the growing applications of molecular diagnostic techniques, particularly NGS, in personalized medicine and clinical therapies. The dynamic landscape is set to reshape how proteinase K is utilized and integrated into various diagnostic and research procedures.
Key Takeaways:
- The market valuation in 2022 was US$ 26.2 million.
- The market valuation in 2017 was US$ 19.5 million.
- Based on product form type, lyophilized powder form is expected to dominate at a market share of 57.05% by 2033.
- The proteinase K market size expanded at 6% CAGR between 2017 and 2022.
- Japan is estimated to register a value share of 9% in 2023.
- Germany experiences significant growth, with a projected value share of 5.3% in 2023.
“The introduction of advanced technologies for DNA purification poses a restraint and is considered a major restraining factor of the proteinase K market,” opines Sabyasachi Ghosh, Associate Vice President at Future Market Insights (FMI).
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Competitive Landscape:
The industry boasts a substantial array of market participants. Research and development play a pivotal role among these players, primarily focusing on introducing eco-friendly product lines as a core aspect of their manufacturing endeavours. Furthermore, they employ various expansion strategies, including collaborations, mergers and acquisitions, and diligent exploration of regulatory approvals to bolster their market presence.
Some of the key developments are-
- Thermo Fisher Scientific unveiled the Applied Biosystems HIV-1 Genotyping Kit, designed exclusively for research and integrase applications. The innovative kit empowers researchers to examine genetic variations within HIV-positive samples, particularly those resistant to antiretroviral therapies.
- New England Biolabs, Inc. announced its acquisition of Fluorogenics Limited (FGL), a prominent UK-based company specializing in lyophilization research and development services.
Proteinase K Market Size:
| Attributes | Details | ||
| Estimated Market Size in 2023 | US$ 27.5 million | ||
| Projected Market Valuation in 2033 | US$ 43.9 million | ||
| CAGR Share from 2023 to 2033 | 4.8% | ||
| Forecast Period | 2023 to 2033 | ||
| Historical Data Available for | 2017 to 2022 | ||
| Market Analysis | Value in US$ million | ||
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Proteinase K Market Survey by Category:
By Form:
- Lyophilized Powder Form
- Liquid Form
By Application:
- Isolation and Purification of Genomic DNA & RNA
- In situ Hybridization
- Mitochondria Isolation
- Enzyme Removal
By End User:
- Contract Research Organization
- Academic Institutes
- Biotechnology Companies
- Diagnostic Laboratories
By Region:
- North America
- Latin America
- Western Europe
- Eastern Europe
- South Asia and Pacific
- East Asia
- The Middle East and Africa
Author By:
Sabyasachi Ghosh (Associate Vice President at Future Market Insights, Inc.) holds over 12 years of experience in the Healthcare, Medical Devices, and Pharmaceutical industries. His curious and analytical nature helped him shape his career as a researcher.
Identifying key challenges faced by clients and devising robust, hypothesis-based solutions to empower them with strategic decision-making capabilities come naturally to him. His primary expertise lies in areas such as Market Entry and Expansion Strategy, Feasibility Studies, Competitive Intelligence, and Strategic Transformation.
Holding a degree in Microbiology, Sabyasachi has authored numerous publications and has been cited in journals, including The Journal of mHealth, ITN Online, and Spinal Surgery News.
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Originally published at https://www.einpresswire.com/article/672220810/proteinase-k-market-to-total-us-43-9-million-by-2033-registering-a-4-8-cagr-future-market-insights-inc
