Report : South and Central America Protein Expression Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Product (Competent Cells, Expression Vectors, Reagents, and Instruments); Services (Antibody Development & Production, Protein Expression & Production, Hybridoma One-Stop Services, Stable Cell Line Development, and Bioanalytical Assay Services); Application (Research, Therapeutic, and Industrial); End User (Pharmaceutical and Biotechnology Companies, Contract Research Organizations, Academic Research Institutes, and Others)
Reagents Segment has the Largest Share of Product in the South and Central America Protein Expression Market during 2021–2028
According to a new market research study on “South and Central America Protein Expression Market to 2028 – COVID-19 Impact and Regional Analysis and Forecast by Product, Services, Application, and End User” is expected to reach US$ 158.8 million by 2028 from US$ 91.5 million in 2021. The market is estimated to grow at a CAGR of 8.2% from 2021 to 2028. The report provides trends prevailing in the South and Central America Protein expression market along with the drivers and restraints pertaining to the market growth. The growth of this market is estimated to grow owing to key driving factors such as the increasing applications of protein expression and the growing adoption of precision medicines are the key factors driving the market growth. However, the market is expected experiencing slow growth during the forecast period owing to the high cost of products.
COVID-19 pandemic has become the most significant challenge in the region. However, demand for protein expression systems in this pandemic is inclined from the outbreak of Covid-19, but now the pharma companies are working on developing strategies to develop and manufacture the required reagents, instruments for the research of vaccine fulfill the demands of protein expression. The demand of protein expression in the region is expected to increase due to the rising Covid-19 cases and other diseases such as cancer. Similarly, Latin America is hit by the COVID-19 pandemic and thus has profound humanitarian, economic, and political consequences. South and Central America are among the regions with rising number of reported cases of COVID-19. They have responded to the situation by closing borders, ordering quarantines, and imposing a host of restrictions to keep people confined at home. The impact of the COVID19 pandemic on the regional protein expression market is moderate.
The market for protein expression market is segmented into product, services, application, and end user. Based on product, the protein expression market is segmented into instruments, expression vectors, reagents, and competent cells. In 2020, the reagents segment is estimated to account for the largest market share in the protein expression market. The high incidence of chronic diseases and the increasing public and private investments account for dominance of this segment.
Thermo Fisher Scientific Inc., GenScript, Merck KGaA, Agilent Technologies, Inc., Takara Bio Inc., Bio-Rad Laboratories Inc., QIAGEN, New England Biolabs, and Promega Corporation are among the leading companies in the South and Central America protein expression market. The companies are focused on adopting organic growth strategies such as product launches and expansions to sustain their position in the dynamic market. For instance, in May 2020, Thermo Fisher Scientific to Acquired QIAGEN N.V. Benefits of the Transaction are Expands Specialty Diagnostics Portfolio with Attractive Molecular Diagnostics Capabilities, Including Infectious Disease Testing, Complementary Offering Enhances Unique Value Proposition for Life Sciences Customers, Commercial and Geographic Reach Expand Customer Access, Delivers Attractive Financial Benefits through the PPI Business System, Including Proven Integration Approach.
The market for protein expression market is segmented into product, services, application, and end user. Based on product, the protein expression market is segmented into competent cells, expression vectors, reagents, and instruments. Based on services, the protein expression market is segmented into antibody development & production, protein expression & production, hybridoma one-stop services, stable cell line development, and bioanalytical assay services. Based on application, the protein expression market is segmented into research, therapeutic, and industrial. Based on end user, the protein expression market is segmented into pharmaceutical and biotechnology companies, contract research organizations, academic research institutes, and others. Geographically, the protein expression market is segmented into South and Central America (Brazil, Argentina, Rest of South and Central America).