CHICAGO, June 17, 2020
CHICAGO, June 17, 2020 /PRNewswire/ -- According to the new market research report "Protein Crystallization & Crystallography Market by Technology (NMR, X-Ray Crystallography), Product & Service (Instrument (Liquid Handling (Automated)), Consumable (Reagent, Microplate) End User, and Region - Global Forecast to 2025", published by MarketsandMarkets™, the Protein Crystallization & Crystallography Market is projected to reach USD 1.7 billion by 2025 from USD 1.1 billion in 2020, at a CAGR of 8.9% during the forecast period.
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The growth in this market is attributed to the increasing adoption of protein therapeutics, technological advancements in protein crystallization instruments and consumables, and the increasing focus on miniaturization. However, the high cost of instruments is expected to restrain the growth of this market during the forecast period.
By product and service, the consumables segment accounted for the largest market share in 2019.
On the basis of product and service, the consumables segment accounted for the largest share of the Protein Crystallization Market in 2019. This can be attributed to a large number of reagent kits and microplates used in proteomics research and the increasing demand for miniature screening plates in automated liquid handlers.
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By end user, the pharmaceutical companies segment accounted for the largest market share in 2019.
The pharmaceutical companies segment accounted for the largest share of the Protein Crystallography Market in 2019. This can be attributed to the increasing demand for protein-based drugs and the increasing demand for biologics in various application areas.
North America dominates the Protein Crystallization Market.
The protein crystallization market is divided into five major regions, North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. In 2019, North America accounted for the largest share of the global market, followed by Europe. The growth in this market can be attributed to the increasing investments in the development of structure-based drug designs, growing academic and government investments in genomics and proteomics research, and the rising demand for high-quality research tools.
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Key Market Players
The major companies in the Protein Crystallography Market are Rigaku Corporation (Japan), Hampton Research (US), Jena Bioscience GmbH (Germany), and Bruker Corporation (US).
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