The protein expression market is expected to reach USD 5.4 million in 2027 from USD 2.9 million in 2022 at a CAGR of 13.3% during the forecast period. Factors such as growing pharmaceutical and biotechnology as well as life-sciences industries, a rise in the focus on recombinant-based protein expression, and the availability of investment for protein-based research. However, the high cost of protein expression reagents and instruments is expected to restrain the growth of this market to a certain extent.
The protein expression market is highly consolidated. The top players in this market hold a significant share of the total market. Prominent market players include Thermo Fisher Scientific Inc. (US), Merck KGaA (Germany), Promega Corporation (US), Agilent Technologies, Inc. (US), Bio-Rad Laboratories, Inc. (US), and Takara Bio Inc. (Japan). These companies offer a wide range of protein expression products as well as services focusing on innovating. However, the high market consolidation acts as a barrier for new entrants in the market