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Proteinase K Market Size, Share & Trends Analysis Report By Form, By Therapeutic Area, By Application, By End Use, By Region And Segment Forecasts, 2022 - 2030

Proteinase K Market Size, Share & Trends Analysis Report By Form, By Therapeutic Area, By Application, By End Use, By Region And Segment Forecasts, 2022 - 2030

  • October 2022
  • 150 pages
  • ID: 6360877
  • Format: PDF
  • Grand View Research

Summary

Table of Contents

Proteinase K Market Size, Share & Trends Analysis Report By Form (Powder, Liquid), By Therapeutic Area (Infectious Diseases, Neurology, Oncology), By Application, By End Use, By Region, And Segment Forecasts, 2022 - 2030

Proteinase K Market Growth & Trends

The global proteinase K market size is expected to reach USD 7.84 billion by 2030., expanding at a CAGR of 8.84% from 2022 to 2030. The market growth is fueled by a broad range of applications in molecular diagnostic techniques and their associated enzymes for IVD. Proteinase K can be utilized as a supplement in PCR and NGS. Increasing applications of NGS in personalized medicine along with various clinically developed therapies are likely to favor the market for proteinase K. Gene expression profiling and targeted panels via qPCR remain the two most frequent uses for NGS sequences in a pathology lab. In addition, a decline in the price of NGS sequencing has expanded the use of NSC technologies. Therefore, the growing demand for NGS diagnostic techniques is expected to boost the market growth.

In addition, the rising adoption of cell separation procedures is one of the major factors contributing to the market growth.Companies have initiated building sustainable technologies to gain a competitive edge in the market.

For instance, in April 2022, Levitas Bio introduced the next generation of its existing platform for cell separation. The new version is expected to assist researchers in scaling their experiments up to 16X and process around 40 million cells per run.

Moreover, the usage of POC-based diagnostics is increasing significantly globally.Public awareness campaigns aimed at identifying the symptoms of infectious diseases and ways to prevent them play an important role in controlling disease transmission.

Thus, increased patient attention has led to a rise in demand for POC.For instance, in May 2020, a study on POC testing for COVID-19 through Specific High Sensitivity Enzymatic Reporter UnLOCKing (SHERLOCK) diagnostics was published.

The researchers used QuickExtract by Lucigen, which contains Proteinase K. Thus, the growing demand for POC diagnostics and the utility of proteinase K in POC diagnostic tests are expected to fuel market growth.

Furthermore, growing applications of proteinase K in molecular biology and other fields are expected to create lucrative opportunities in the near future.Proteinase K is used in the food and beverage industry to maintain quality standards.

Food manufacturers work to maintain the quality of raw materials used for manufacturing.In addition, proteinase K is used for cell lysis during DNA extraction from processed foods.

The enzyme also finds application in a wide range of molecular biology assays. Hence, such applications of proteinase K are anticipated to drive the market during the forecast period.

Proteinase K Market Report Highlights
• By form, the powder segment accounted for a dominant share in 2021. Advantages of powder form include long shelf-life, inexpensive shipment, and high stability. Thus, such advantages are expected to increase the adoption of powder
• By therapeutic area, the infectious diseases segment captured the largest share in 2021. Presence of proteinase K in the rapid molecule testing along with increasing incidence of infectious diseases in low- to mid-income countries is anticipated to encourage players to develop products that are easy to operate in a low-resource setting. This is, in turn, accelerating the market growth
• By application, the isolation and purification of genomic DNA and RNA segment held the largest share in 2021. With the emerging need for personalized treatment in cancer and rare diseases, the demand for DNA or RNA isolation is anticipated to witness upward trends and similar trends will be reflected in the market
• By end-use, biotechnology companies held a leading revenue share in 2021. This is due to an increase in the application of In Situ Hybridization (ISH) techniques to support clinical and preclinical studies for biotechnology companies
• North America occupied the largest market share in 2021 and is expected to maintain its lead over the forecast period owing to the high demand for proteinase K and the increasing prevalence of infectious diseases in the region
• Asia Pacific is projected to grow considerably in the future owing to increasing applications of sequencing technology, coupled with various government initiatives to promote genomics research

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