“The expression vectors market is expected to reach $317.1 million by 2020 from $242.7 million in 2015, growing at a CAGR of 5.5% from 2015 to 2020. The market is categorized on the basis of host type, application, end user, and region. The application market includes therapeutic, research, and industrial applications. The therapeutic applications segment is expected to grow at the highest CAGR in the coming five years.
Major factors contributing to the growth of the global expression vectors market include increasing demand of protein-based drugs (biologics); high prevalence of lifestyle diseases, infectious diseases, and genetic disorders; and increasing funding for protein research. For instance, in September 2014, AbCelex Technologies Inc., a privately held Canadian biotechnology company, received a venture capital fund of $1 million by Pinetree Capital Corporation for development of the company鈥檚 protein expression systems and antibody engineering techniques. Funding for protein research helps the expression vectors market to grow as it is an integral component of it.
The Asian expression vectors market is the fastest-growing market, globally. With huge man power and cost-effective manufacturing facilities, several market players are focusing on expanding their presence in the Asian countries. For instance, in November 2012, Promega Corporation (U.S.), a provider of expression vectors, opened a new facility in Shanghai, Shanghai Promega Life Science Center. This facility manufactures biological and chemical regents and instruments used in life science research and molecular diagnostics. Establishment of such facilities helps the local market with easy product availability and services.
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