Global Trypsin Market, by Source (Bovine and Porcine), by Product Type (Kits and Reagents), by Application (Protein Identification, Quantitative Analysis, Differential Expression, and Post-translational Modifications), by End User (Academic & Research Institutes, Pharmaceutical Companies, and Others), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) is estimated to be valued at US$ 42.95 Mn in 2021 and is expected to exhibit a CAGR of 4.3% during the forecast period (2021-2028), as highlighted in a new report published by Coherent Market Insights.
The increasing adoption of inorganic strategies such as agreements and acquisitions by the key players is expected to drive growth of the global trypsin market over the forecast period. For instance, in February 2021, Leisure Acquisition Corp., a special purpose acquisition company formed for the purpose of effecting a merger, acquisition, or similar business combination, announced that it entered into a definitive agreement to acquire Ensysce Biosciences, Inc., a clinical stage biopharmaceutical company, engaged in commercialization of its lead product based on Trypsin Activated Abuse Protection (TAAP) and Multi-Pill Abuse Resistant (MPAR) drug platforms.
Global Trypsin Market – Impact of Coronavirus (COVID-19) Pandemic
The COVID-19 pandemic and lockdown in various countries across the globe has impacted the financial status of businesses across all sectors including private healthcare sector. The COVID-19 pandemic has impacted the entire supply chain of the healthcare industry mainly due to strict lockdown in several regions. The private healthcare is one such sector which has been impacted significantly by the COVID-19 pandemic.
Lockdowns in various countries have placed an economic burden on the healthcare sector. Moreover, the coronavirus pandemic has hampered the development, production, and supply of drugs and other healthcare products, and affected growth of healthcare businesses of various companies across the globe.
Furthermore, the COVID-19 pandemic and lockdown have led to a disruption in the supply and distribution chain of trypsin, thereby affecting the trypsin market.
Browse 44 Market Data Tables and 35 Figures spread through 197 Pages and in-depth TOC on “Global Trypsin Market”- Forecast to 2028, Global Trypsin Market, by Source (Bovine and Porcine), by Product Type (Kits and Reagents), by Application (Protein Identification, Quantitative Analysis, Differential Expression, and Post-translational Modifications), by End User (Academic & Research Institutes, Pharmaceutical Companies, and Others), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa)
To know the latest trends and insights prevalent in the Global Trypsin Market, click the link below:
https://www.coherentmarketinsights.com/market-insight/trypsin-market-4866
Moreover, market players are focused on manufacturing trypsin kits or reagents that could be used in the fields of academic and research, which is expected to propel growth of the global trypsin market over the forecast period. For instance, Promega Corporation, a U.S.-based biotechnology company offers Trypsin Gold (Mass Spectrometry Grade) and Sequencing Grade Modified Trypsin with high proteolytic efficiency to be used for research purposes in applications such as protein identification, quantitative analysis, differential expression, post-translational modifications, and others.
Key Takeaways of the Global Trypsin Market:
- The global trypsin market is expected to exhibit a CAGR of 4.3% during the forecast period due to the upgrading strategies adopted by the key companies, which is expected to boost growth of the market. For instance, in August 2019, Creative Enzymes, a company specialized in supplying customers with food additives and enzymes, announced that it had upgraded its enzyme products and developed various products recently.
- Based on end user, pharmaceutical companies segment is estimated to account for the largest market share in the global trypsin market in 2021. Rapid researches to explore better sources of trypsin to be used commercially by pharmaceutical companies is expected to drive the segment growth over the forecast period. For instance, according to a research article published by the Biomedcentral journal in April 2020, Microbial Streptomyces griseus trypsin (SGT) has been found to be an excellent alternative to porcine trypsin, as it eliminates the risk of infectivity and immunogenicity associated with trypsin from animal sources.
- Among regions, North America is estimated to account for the largest market share in the global trypsin market in 2021, owing to the increasing number of manufacturing facilities for research and development in the region. For instance, in August 2021, BeiGene, Ltd., a global biotechnology company, announced that the company has a plan to build a new campus for research and development and manufacturing at the Princeton West Innovation Campus in Hopewell, New Jersey, U.S.
- Major players operating in the global trypsin market include Promega Corporation, Merck KgaA, Geno Technology Inc., USA, Thermo Fisher Scientific Inc., SignalChem Biotech Inc., Takara Bio Inc., Creative Enzymes, ProteoChem, Waters Corporation, Bioseutica, Bovogen Biologicals Pty Ltd., and BBI Solutions
