Protein Crystallization Market Size, Share & Trends Analysis Report By Product (Instruments, Consumables, Software & Services), By Technology (X-ray Crystallography, Cryo-electron Microscopy), By End-user, By Region, And Segment Forecasts, 2023 - 2030
Protein Crystallization Market Growth & Trends
The global protein crystallization market size is expected to reach USD 2.14 billion by 2030, registering a CAGR of 8.25% from 2023 to 2030, according to a new report by Grand View Research, Inc. The rising demand for protein-based therapeutics, increasing funding & investments in proteomics research, and technological advancements in crystallography techniques are the key factors driving the market. Furthermore, major pharmaceutical applications associated with crystallization such as drug development, formulation, purification & separation, and drug delivery are anticipated to further boost the market during the study period.
Increasing funding & investments by several pharmaceutical and biotechnological companies are enhancing the R&D activities of proteomics in drug development. For instance, in January 2022, Protai raised funding of USD 8.0 million to develop a proteomics-based platform. This platform enables the viewing of new layers of disease on the protein level to reshape the drug discovery and development process. Hence, increasing funding may boost R&D activities, which ultimately increases the demand for protein crystallization techniques.
The sudden outbreak of COVID-19 led to an upsurge in research and development activities to design vaccines and drugs. Hence, it was important for researchers to study the structure, function, and pathogenesis of the virus. The crystallization techniques help researchers to determine the structure of SARS-CoV-2 proteins for the development of novel vaccines to treat the disease. For instance, researchers at Serum Institute of India Pvt. Ltd. developed a COVOVAX protein recombinant vaccine for COVID-19. Thus, the COVID-19 pandemic had a positive impact on the market.
Moreover, an increasing number of individuals have been utilizing protein-based drugs owing to their advantages such as low toxicity, high potency & specificity, and high tolerance by the human body. In addition, major players in the market are entering into partnerships and collaborations to develop protein-based therapeutics at more affordable costs for patients. For instance, in January 2022, Amgen entered into collaboration with Generate Biomedicines to discover and develop proteins for five targets across multiple modalities and therapeutic areas. Thus, such initiatives are expected to drive the adoption of protein crystallization methods during the estimated timeframe.
Furthermore, protein crystallization may aid in the identification of potential treatments for multiple diseases, from muscular dystrophy to cancer. For instance, according to an article published on NASA in July 2022, as said by researchers at the Japan Aerospace Exploration Agency, protein crystal growth in space may slow the progression of muscular dystrophy by half and potentially double the life span of many patients. Hence, the increasing R&D activities on protein crystals can significantly fuel the market during the estimated timeframe.
On the other hand, the high cost of instruments may restrain the market during the forecast years. On average a cryo-electron microscope costs about USD six million to seven million and an additional investment has to be spent on the infrastructure and supporting equipment. Such high costs may not be affordable for small- and medium-sized laboratories, which hampers market growth to a certain extent. In addition, challenges associated with the formulation and delivery of protein therapeutics may limit the market to some extent. However, operating players in the market are continuously working on the development of affordable instruments for crystallization.
Protein Crystallization Market Report Highlights
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