February 22, 2021
According to the research report titled ‘Global Protein Crystallization & Crystallography Market Size study with COVID-19 Impact, by Technology (X-ray Crystallography, NMR Spectroscopy, Cryo-electron Microscopy and Small-angle X-ray Scattering (SAXS)), by Product & Services (Consumables, Reagents Kits/Screens, Instruments and Software & Services), by End-User (Pharmaceutical Companies, Research & Government Institutes and Biotechnology Companies) and Regional Forecasts 2020-2027’, available with Market Study Report LLC, global protein crystallization & crystallization market had reached a valuation of USD 1 billion and is expected to register a CAGR of 8.9% during the forecast period, consequently accounting for USD 1 billion by the year 2027.
Rising R&D investments among biotechnology and pharmaceutical companies coupled with growing demand for protein therapeutics are some of the major factors driving the growth of global protein crystallization & crystallography market.
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For those unversed, protein crystallization & crystallography is a technique which develops protein crystals used for scientific or industrial purposes. Technological advancements in this business vertical coupled with focus towards adopting miniaturization processes are further aiding the market expansion.
Strategic collaborations among leading companies is also favoring the overall market outlook. In 2018 for instance, Bruker Corp. introduced the D8 DISCOVER Plus XRD (X-ray Diffraction) which offer PDF analysis, crystal structure, quantitative analysis, and phase identification.
On the contrary, high costs associated with the equipment could potentially hamper global protein crystallization & crystallography industry remuneration in the upcoming years. The outbreak of COVID-19 has also hindered the product demand, with various organizations under temporary shutdown while majority of the population opting for work-from-home solutions.
Considering the geographical landscape, North America presently holds the largest market share and is likely to showcase significant growth in the ensuing years, primarily due to surging investments towards development of structure-based drug designs and high expenditure by government and academic institutions in proteomics and genomics research.
Asia-Pacific, on the other hand, is also slated to record substantial growth during the forecast period.
Thermo Fischer Scientific Inc., Charles River Laboratories Inc., Spectris plc, SARomics Biostructures, Tecan Group Ltd., Corning Inc., Agilent Technologies Inc., Hampton Research, Rigaku Corporation, and Bruker Corporation are the key participants in global protein crystallization & crystallography market.