Preliminary research of Fairfield Market Research indicates a promising growth outlook for global proteinase K market during the course of next few years.
Proteinase K Market Reaps Significant Benefit from Rising Application in Point-of-Care Diagnostics
One of the main elements expected to support the expansion of global proteinase K market throughout the forecast period is the rising adoption of cell separation techniques by cell banks, diagnostic labs, and research organizations. Academic institutions, for instance, are actively looking for innovation in sample sequencing and cell separation. For instance, in April 2022, Cornell University researchers founded Inso Biosciences to provide patented nucleic acid extraction and sample processing technologies. With the new technology, processing samples for DNA fragments between 40 and 50 kb in length can be finished in 30 to 40 minutes instead of 6 hours.
Growing need for proteinase K in POC diagnostic applications is anticipated to drive proteinase K market expansion. The development of numerous smartphone-based POC devices and related tools like next-generation POC diagnostics or testing equipment has accelerated market expansion. For instance, the autonomous capillary microfluidic chip interfaces with the ACMC platform-based smartphone application for cardiac troponin I in myocardial infarction testing. In underdeveloped nations with limited resources, this technology is simple to use. The market is thus expected to continue to grow due to inventive technological developments in POC devices. The extensive uses of molecular diagnostic methods and the accompanying IVD enzymes drive market. The usage of NGS technologies has also expanded due to the drop in sequencing costs. Proteinase K is expected to become more widely used in the upcoming years due to rising demand for NGS diagnostic methods.
Proteinase K Market: COVID-19 Impact
The COVID-19 pandemic increased the need for proteinase K, spurring the market's rapid expansion. In genetic material extraction techniques, proteinase K is frequently used. It is crucial because it can absorb proteins that prevent nucleic acid contamination. The RNA of COVID-19 can be extracted more quickly and affordably using proteinase K treatment, followed by thermal shock, according to a study published in PLOS in March 2021. Additionally, businesses are considering using proteinase K while creating kits for COVID-19 diagnosis. For instance, the US FDA approved the PerkinElmer Coronavirus Nucleic Acid Detection Kit, an RT-PCR that evaluates patient conditions using saliva samples. Such developments in COVID-19 diagnostic kits and related enzymes are anticipated to benefit the proteinase K market expansion.
Chronic Diseases are Expected to Boost Proteinase K Market Growth
The key driver of the rise of the market worldwide is the increased prevalence of chronic disorders. Globally, chronic diseases are by far the most prevalent type of sickness. Chronic illnesses such as cancer, diabetes, hypertension, stroke, heart disease, respiratory conditions, arthritis, and obesity can lead to hospitalization, long-term disability, a decline in quality of life, and even death. Chronic illnesses comprise: The GLOBOCAN 2020 study found that the 5-year prevalence was roughly 50,550,287 worldwide and roughly 9,958,133 cancer-related mortality reported internationally. Due to the rising cancer incidence, there are now more therapeutic uses for next-generation sequencing and polymerase chain reaction.
Increased Adoption in R&D of Rare Disorders to Drive Proteinase K Market
It is projected that the use of proteinase K in the study and treatment of rare disorders will offer attractive prospective opportunities to players in the global proteinase K market. For instance, in April 2019, scientists at Scripps Research reported using fluorophores to label light chains and coupling shape changes to proteinase K cleavage to find a collection of small compounds that stop the structural changes to proteins that lead to A.L. amyloidosis, a rare and progressive disease. This study aimed to develop a class of small compounds that inhibits the structural alterations in proteins that lead to A.L. amyloidosis. Furthermore, over the projected period, funding for molecular biology R&D is likely to support market expansion. For instance, Princeton University funded the identification of six research areas in February 2020. One of these research topics involved developing drugs that specifically target the Nocturnal enzyme to modulate fat metabolism. This enzyme regulates the amount of fat that is stored and the amount of energy that is used.
Proteinase K's Low Heat Stability restricts operations for Industrial Hydrolysis and Aminolysis
A protein's purity level can likely be used to infer, at least in part, its quality. The purity of the Proteinase K that is now available on the proteinase K market and its doping with other proteins and nucleases are thus the main factors limiting the growth of the market. Proteinase K's low thermal stability limits the quantity of hydrolysis and aminolysis reactions that can occur during commercial production. The market growth is constrained during the predicted period. Additionally, the development of more modern and advanced DNA purification techniques and the broad accessibility of various proteinases may limit market growth during the period covered by the forecast.
Powder Category Dominated Market due to its Longer Shelf Life
Powder category held the largest market share, and it is anticipated that it will continue to rule the market during the forecast period due to the advantages the technique provides. Proteinase K is available in powder form, which offers many benefits, including excellent stability, low cost of shipping, and long shelf life. Additionally, the powder form eliminates the need for special temperature requirements while shipping and does not affect proteinase K's action, saving on the additional expense associated with the ice-pack shipment. As a result, the benefits of powder form are expanding its applications and fueling the proteinase K market expansion. Additionally, over the projected period, the liquid category is anticipated to increase at the quickest rate. In various situations, the liquid version of proteinase K is preferable over the powdered form. The liquid form is easier to boil down than the solid form.
Infectious Disease Surgery Category to Dominate Proteinase K Market due to its Rising Prevalence
The infectious disease surgery category dominated the market in 2021. It is projected that players will be motivated to create simple goods to use in a low-resource setting as the prevalence of infectious diseases like HIV, T.B., and malaria rises in low- to middle-income nations. For instance, QIAGEN provides QIAGEN Proteinase K, a subtilisin-type protease isolated from the saprophytic fungus Tritirachium album. The product is utilised to isolate DNA and RNA from sample materials when diagnosing viral and bacterial infections. Therefore, it is anticipated that including proteinase K in quick molecular testing will hasten proteinase K market expansion. Besides, the neurology market is expected to grow during the forecast period. Small chemical therapies, enzyme replacement, gene editing, splicing, and gene replacement therapies using adeno-associated vectors are just a few of the medicines for neurology that is currently being developed.
North America to Dominate Market as Cardiovascular Diseases are Becoming More Prevelent
Over the forecast period, it is anticipated that North America’s proteinase K market will account for the largest revenue share because of the substantial demand for proteinase K and the rising incidence of infectious diseases in the area. The US FDA granted Emergency Use Authorizations (EUA) for in vitro COVID-19 laboratory-developed tests to help fight the COVID-19 pandemic. Additionally, most of these EUAs have been for RT-PCR and enzyme-linked immunosorbent assay (ELISA) tests for detecting SARS-CoV-2. The development of such tests is anticipated to contribute to revenue generation in the North American market due to the increasing use of enzymes during RT-PCR. Furthermore, the number of research projects, the cost of personal healthcare, and the use of gene therapy have all significantly increased in the U.S. market in recent years.
Asia Pacific’s proteinase K market is anticipated to experience stable revenue growth throughout the forecast period because sequencing technology is being used in more applications and because several government initiatives support genomics research and precision medicine. For instance, the National Precision Medicine (NPM) Strategy was introduced by the Singaporean government in 2020 to understand better how phenotypic, genetic, clinical, and lifestyle factors affect the health of Singaporeans. During the forecast period in the region, several government measures are anticipated to enhance proteinase K applications.
Global Proteinase K Market: Competitive Landscape
In February 2022, Exelead was successfully acquired by Merck KGaA, and the company disclosed plans to invest about US$542 Mn to scale up its technology. The effort can help the company grow by expanding its variety of products and services. Additionally, in April 2022, Thermo Fisher Scientific, Inc. partnered with Matrix Clinical Trials to improve its clinical research solutions and increase the proteinase K market potential for its associated products and decentralized trial solutions.
A few of the players in the Proteinase K Market Merck KGaA, Qiagen, Thermo Fisher Scientific, Inc., F. Hoffmann-la Roche Ltd., Abcam Plc, Agilent Technologies, Inc., Biocatalysts Ltd., Minerva Biolabs GMBH, Promega Corporation, Takara Bio, Inc., New England Biolabs and M.P. Biomedicals.
Global Proteinase K Market is Segmented as Below:
By Therapeutic Area
By End User
Key Elements Included In The Study: Global Proteinase K Market
Post Sale Support, Research Updates & Offerings
We value the trust shown by our customers in Fairfield Market Research. We support our clients through our post sale support, research updates and offerings.
Considering the volatility of business today, traditional approaches to strategizing a game plan can be unfruitful if not detrimental. True ambiguity is no way to determine a forecast. A myriad of predetermined factors must be accounted for such as the degree of risk involved, the magnitude of circumstances, as well as conditions or consequences that are not known or unpredictable. To circumvent binary views that cast uncertainty, the application of market research intelligence to strategically posture, move, and enable actionable outcomes is necessary.Read more