Global Proteinase K Market, By Form (Lyophilized Powder Form, Liquid Form), By Application (Purification of DNA & RNA, In situ Hybridization, Mitochondria Isolation, Enzyme Removal), By End User (Contract Research Organization, Academic Institutes, Biotechnology Companies, Diagnostic Laboratories), and By Region (North America, Latin America, Europe, Asia Pacific, Middle East & Africa) is estimated to be valued at US$ 27.5 Million in 2023 and is expected to exhibit a CAGR of 6.2% during the forecast period (2023-2030), as highlighted in a new report published by Coherent Market Insights.
The increasing initiatives of the government by providing research funding is expected to provide lucrative growth opportunities for players. For example, in September, 2022, The White House, announced federal funding of more than US$ 2 billion to advance President Joe Biden's executive order intended to enable the U.S. to harness the full potential of biotechnology and biomanufacturing. Such initiatives by the government will boost the research in biotechnology field and hence will show positive impact on Global Proteinase K market.
Global Proteinase K market – Impact of Coronavirus (COVID-19) Pandemic
The World Health Organization (WHO) designated the illness caused by the Severe Acute Respiratory Syndrome Coronavirus 2 (SARS-CoV-2), which first appeared in Wuhan (province of Hubei, China) in the last months of 2019 as "coronavirus disease 2019" or COVID-19. This virus spread quickly and had a serious negative impact on the economies, social behaviors, and healthcare of every country in the world.
COVID-19 affected the economy in three main ways: by directly affecting production and demand, by creating disruptions in distribution channels, and through its financial impact on firms and financial markets. Due to the lockdown, several countries such as India, China, Brazil, and others faced problems with regard to the transportation of drugs from one place to another.
COVID-19 had a positive impact on the global proteinase K market. The COVID-19 pandemic boosted the demand for proteinase K, exponentially propelling the growth of the market. Proteinase K is widely employed in extraction protocols of genetic material. It is important since it can absorb proteins that eliminate cross-contamination from nucleic acids. According to a study published on Public Library of Science one (PLOS one), in March 2021, proteinase K treatment, followed by thermal shock for RNA extraction of COVID-19, is a faster and relatively cost-effective alternative as compared to commercial kits. The study was conducted by the National Institute of Health, Lima, Peru where they compared the COVID-19 positivity between six epidemiological weeks. For first two weeks, the Real time Reverse Transcription – Polymerase Chain Reaction (RT-PCR) was conducted using RNA extracted by commercial kit, followed by two other using RNA obtained by NIH’s test kit-free method, and the last two using NIH’s test kit once again. As per the results, it was concluded that NIH’s method was an easy, fast, and cost-effective alternative method for extracting RNA and conducting molecular diagnosis of COVID-19.
Global Proteinase K Market: Key Developments
On December 8, 2021, Thermo Fisher Scientific In, a U.S.-based supplier of scientific instrumentation, reagents and consumables, and software services, announced that it has completed its acquisition of Pharmaceutical Product Development, Inc., U.S. based provider of clinical research services to the biopharma and biotech industry, for US$ 17.4 billion. With the takeover, Thermo Fisher intends to provide a complete suite of services across the clinical development spectrum, comprising scientific discovery, safety, efficacy, and healthcare outcome assessment, handling trial logistics, as well as the development and production of the therapeutics. This will drive the growth of the clinical research service industry hence the demand for Proteinase K will also increase as it is a widely used reagent in clinical research.
Browse 35 Market Data Tables and 34 Figures spread through 160 Pages and in-depth TOC on “Global Proteinase K Market ”- Forecast to 2030, Global Proteinase K Market, By Form (Lyophilized Powder Form, Liquid Form), By Application (Purification of DNA & RNA, In situ Hybridization, Mitochondria Isolation, Enzyme Removal), By End User (Contract Research Organization, Academic Institutes, Biotechnology Companies, Diagnostic Laboratories), and By Region (North America, Latin America, Europe, Asia Pacific, Middle East & Africa)
To know the latest trends and insights prevalent in this market, click the link below:
https://www.coherentmarketinsights.com/market-insight/proteinase-k-market-3548
Key Takeaways of the Global Proteinase K Market:
- The Global Proteinase K Market is expected to exhibit a CAGR of 6.2% during the forecast period. The merger with emerging economies offers lucrative growth opportunities for players in the global proteinase K market. For instance, on January 3, 2023, Thermo Fisher Scientific Inc. the U.S.-based supplier of scientific instrumentation, reagents and consumables, and software services, announced acquisition of The Binding Site Group, U.K. based company in specialty diagnostics, from a shareholder group led by European private equity firm Nordic Capital, in an all-cash transaction valued at US$ 2.8 billion at current exchange rates. Thermo Fisher announced the agreement to acquire The Binding Site on October 31, 2022. Thermo Fischer Scientific is one of the key player in global proteinase K market. Such acquisitions can expand the growth opportunities proteinase K market.
- Among application, purification of DNA & RNA is expected to grow in the global proteinase K market over the forecast period. For instance, according to a report published by the World Cancer Research Fund International, on March 23, 2022, globally, there were an estimated 18.1 million cancer cases around the world in 2020. Of these, 9.3 million cases were in men and 8.8 million in women. This can boost the demand for proteinase K in diagnostic tests.
- Among region, North America is expected to be the dominant region in the global Proteinase K market, owing to the increasing advancements and adoption of technology like tissue reengineering and 3D printing for proteinase K. For instance, according to an article published in the Journal of Advanced Drug Delivery Technology, on October 13, 2020, the Biodegradability of peptide hydrogels could be also modulated by introducing peptide sequences that are sensitive to proteinases such as proteinase K for tissue engineering. The degradation of peptide scaffolds simultaneously with the rate of tissue regeneration is desired. So, the degradation rate of the scaffold must be adjusted with that of tissue regeneration. To provide biodegradable peptide hydrogels endothelial cells-derived matrix metalloproteinase (MMP) is used. Apart from cleavable sequences, the secondary structure of peptide hydrogels also affects MMP-based degradation. Since MMP collagenases only attack collagens by changing the peptide sequences, the resulting hydrogels will become sensitive to proteases, such as proteinase K.
- Major players operating in the global proteinase K market include Thermo Fisher Scientific Inc., Merck KGaA, Qiagen N.V., F. Hoffmann-La Roche Ltd., New England Biolabs, Worthington Biochemical Corporation, Norgen Biotek Corp., BIORON GmbH, Sisco Research Laboratories Pvt. Ltd., Bioline (Meridian Biosciences Inc.), Promega Corporation
