Proteinase K Market Expected To Witness A Substantial Growth Of $7.84 Billion By 2030: Grand View Research Inc.

 

The global proteinase K market size is expected to reach USD 7.84 billion by 2030, according to a new report by Grand View Research, Inc., expanding at a CAGR of 8.84% from 2022 to 2030. The market growth is fueled by a broad range of applications in molecular diagnostic techniques and their associated enzymes for IVD. Proteinase K can be utilized as a supplement in PCR and NGS. Increasing applications of NGS in personalized medicine along with various clinically developed therapies are likely to favor the market for proteinase K. Gene expression profiling and targeted panels via qPCR remain the two most frequent uses for NGS sequences in a pathology lab. In addition, a decline in the price of NGS sequencing has expanded the use of NSC technologies. Therefore, the growing demand for NGS diagnostic techniques is expected to boost the market growth.

In addition, the rising adoption of cell separation procedures is one of the major factors contributing to the market growth. Companies have initiated building sustainable technologies to gain a competitive edge in the market. For instance, in April 2022, Levitas Bio introduced the next generation of its existing platform for cell separation. The new version is expected to assist researchers in scaling their experiments up to 16X and process around 40 million cells per run.

Moreover, the usage of POC-based diagnostics is increasing significantly globally. Public awareness campaigns aimed at identifying the symptoms of infectious diseases and ways to prevent them play an important role in controlling disease transmission. Thus, increased patient attention has led to a rise in demand for POC. For instance, in May 2020, a study on POC testing for COVID-19 through Specific High Sensitivity Enzymatic Reporter UnLOCKing (SHERLOCK) diagnostics was published. The researchers used QuickExtract by Lucigen, which contains Proteinase K. Thus, the growing demand for POC diagnostics and the utility of proteinase K in POC diagnostic tests are expected to fuel market growth.

Furthermore, growing applications of proteinase K in molecular biology and other fields are expected to create lucrative opportunities in the near future. Proteinase K is used in the food and beverage industry to maintain quality standards. Food manufacturers work to maintain the quality of raw materials used for manufacturing. In addition, proteinase K is used for cell lysis during DNA extraction from processed foods. The enzyme also finds application in a wide range of molecular biology assays. Hence, such applications of proteinase K are anticipated to drive the market during the forecast period.

To Request Sample Copy of this report, click the link:

https://www.grandviewresearch.com/industry-analysis/proteinase-k-market/request/rs1

 Increasing implementation of cell separation techniques by cell banks, diagnostic labs, and research laboratories and institutions is one of the key factors likely to contribute to the growth of the market in the forecast period. For instance, academic institutions are actively seeking innovation in cell separation and sequencing samples. For instance, in April 2022, researchers from Cornell University established a startup Inso Biosciences to market patented nucleic acid extraction and sample preparation technology. The new technology can complete sample processing in 30 to 40 minutes instead of 6 hours for DNA pieces from 40 kb to 50 Kb in length.

Proteinase K Market Report Highlights

• By form, the powder segment accounted for a dominant share in 2021. Advantages of powder form include long shelf-life, inexpensive shipment, and high stability. Thus, such advantages are expected to increase the adoption of powder
• By therapeutic area, the infectious diseases segment captured the largest share in 2021. Presence of proteinase K in the rapid molecule testing along with increasing incidence of infectious diseases in low- to mid-income countries is anticipated to encourage players to develop products that are easy to operate in a low-resource setting. This is, in turn, accelerating the market growth
• By application, the isolation and purification of genomic DNA and RNA segment held the largest share in 2021. With the emerging need for personalized treatment in cancer and rare diseases, the demand for DNA or RNA isolation is anticipated to witness upward trends and similar trends will be reflected in the market
• By end-use, biotechnology companies held a leading revenue share in 2021. This is due to an increase in the application of In Situ Hybridization (ISH) techniques to support clinical and preclinical studies for biotechnology companies
• North America occupied the largest market share in 2021 and is expected to maintain its lead over the forecast period owing to the high demand for proteinase K and the increasing prevalence of infectious diseases in the region
• Asia Pacific is projected to grow considerably in the future owing to increasing applications of sequencing technology, coupled with various government initiatives to promote genomics research

Proteinase K Market Report Scope

Report Attribute	Details
Market size value in 2022	USD 3.98 billion
Revenue forecast in 2030	USD 7.84 billion
Growth rate	CAGR of 8.84% from 2022 to 2030
Base year for estimation	2021
Historical data	2018 - 2020
Forecast period	2022 - 2030

Furthermore, 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 PLOS in March 2021, proteinase K treatment, followed by thermal shock for RNA extraction of COVID-19, is faster and relatively cost-effective. In addition, companies are considering the use of proteinase K in developing kits for COVID-19 diagnostics. For instance, the U.S. FDA granted EUA to Coronavirus Nucleic Acid Detection Kit by PerkinElmer, which is an RT-PCR that uses saliva samples to assess patient conditions. Such progress in the development of COVID-19 diagnostic kits and associated enzymes is expected to positively impact market growth.

List of Key Players of 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
• MP Biomedicals