Protein crystallization & crystallography market forecast to surpass US$1.25Bn by 2018
Protein Crystallization & Crystallography Market by Technology: Forecast to 2018 - a new market research report on companiesandmarkets.com
PR-Inside.com: 2014-04-30 09:09:03
Protein crystallization & crystallography market forecast to be worth US$1,253 Million by 2018. Increase in government-funded research and continued funding by the PSI to ensure continued development of new technologies.The protein crystallization segment accounted for the largest share of the protein crystallography market in 2013. However, the protein purification market will see the highest growth in the next five years. The reagents/consumables segment commanded the largest share, accounting for 85% of the protein crystallization market in 2013.On the basis of technology, the protein crystallization segment accounted for the largest share, equivalent to 47% of the market in 2013. The growing need to identify new ligands for the drug discovery process and the rising popularity of structure-based/rational drug design are factors that present opportunities for the protein crystallization & crystallography market. The large numbers of ongoing research projects involving protein crystallization, and the increased variety of reagents and analytical techniques employed are also major drivers for the protein crystallography reagents market. However, low customer loyalty and company-specific reagents are factors that restrict the growth of this market.Geographically, North America commanded the largest market share of the protein crystallization & crystallography market, followed by Europe. Both markets have reached the maturity phase of growth and are estimated to register single-digit growth rates for the next five years. Asia projects a robust growth outlook during the analysis period, owing to growing urbanization, huge investment opportunities in these immature markets, and the growing number of research projects in these regions. Growth of the protein crystallization & crystallography market will be driven mainly by countries like China and India.The availability of government and private funds, technological advancements, and growing research in the field of structure-based drug design are factors that are driving the market in these regions. However, the economic downturn and cuts in healthcare budgets are hampering the growth of the market. Countries like China and India will be the major contributors of growth for this market. Increasing investments by leading companies in these immature markets, and increase in research and development activities in these regions are driving the growth.Factors propelling the growth of the protein crystallization & crystallography market include the increasing and immediate need for high-resolution information on protein structures, technological advancements, increasing government funding, and increasing R&D in the pharmaceutical and biotechnological arenas. On the other hand, factors restraining the growth of the market include dearth of qualified and experienced researchers, lack of generalized crystallization methods associated with the types of proteins, and highly time-consuming and expensive protein crystallization & crystallography processes.Emerging technologies like X-ray-free electron lasers, lab automation using liquid handling robotics, and automated workstations to reduce labor force and increase efficiency show promising prospects.
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