by Market Overview:
Baculovirus expression system is used for producing recombinant proteins in insect cells. It can produce large amounts of correctly folded and biologically active eukaryotic proteins. Various therapeutic proteins and vaccines are produced using this system due to its capability to perform post-translational modifications. It is used for transient and stable protein expression in insects such as Trichoplusia ni.
Market Dynamics:
The growth of the Baculovirus Expression System Market is driven by increasing research activities for developing novel vaccines and biologics. Significant funding for R&D of new vaccines and biologics especially for cancer and infectious diseases is expected to provide opportunities for market players. For instance, according to the report by Milken Institute, the global public and philanthropic funding devoted to medical research reached about $186 billion in 2020.
Additionally, ability of baculovirus expression system to produce large quantities of proteins at lower costs compared to other prokaryotic and eukaryotic expression systems also aids the market growth. Baculovirus system produces properly folded, biologically active and functional recombinant proteins which boosts its demand in therapeutic development. Growing geriatric population susceptible to various chronic diseases also necessitates development of newer biologics and vaccines which will increase the adoption of baculovirus expression system during the forecast period.
The global Baculovirus Expression System Market Share is estimated to be valued at US$ 368.5 Mn in 2023 and is expected to exhibit a CAGR of 8.7% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Segment Analysis
The Baculovirus Expression System market is dominated by the insect cell expression segment. This segment held over 60% of the market share in 2022 owing to the advantages offered by insect cells such as ability to fold complex proteins rapidly and efficiently and produce terminally glycosylated or secreted mammalian proteins. Insect cell expression utilizes baculovirus vectors which infect and express heterologous proteins in cultured insect cells.
PEST Analysis
Political: The market is positively impacted by supportive government policies and funding for R&D activities in biologics manufacturing.
Economic: Rising healthcare spending on new drug development along with growing biopharmaceutical industry drives the demand.
Social: Increasing incidence of diseases such as cancer and neurological disorders has boosted research activities for developing novel therapies using baculovirus expression system.
Technological: Adoption of single-use bioreactors, automated systems and continuous processing by key players help improve process yields and lower production costs.
Key Takeaways
The global Baculovirus Expression System market is expected to witness high growth, exhibiting CAGR of 8.7% over the forecast period, due to increasing R&D investment in biologics manufacturing.
North America leads the regional market on account of strong presence of key biopharma companies and growing monoclonal antibody therapeutics segment. APAC region is expected to be the fastest growing market due to expanding biologics manufacturing facilities, improving healthcare infrastructure and rising income levels in the region.
Key players operating in the Baculovirus Expression System market are Thermo Fisher Scientific, Merck KGaA, Takara Bio, Agilent Technologies, Oxford Expression Technologies, Promega Corporation, Qiagen N.V., Bio-Rad Laboratories, New England Biolabs, Genscript Biotech Corporation, Syngene International Limited, Sartorius AG, Aragen Bioscience, Vivopure, Creative Biogene, Absolute Antibody, Rockland Immunochemicals, Protein Technologies Inc., Proteogenix, Virovek. These players focus on new product launches, collaborations, and acquisitions to strengthen their market presence.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
Money Singh is a seasoned content writer with over four years of experience in the market research sector. Her expertise spans various industries, including food and beverages, biotechnology, chemicals and materials, defense and aerospace, consumer goods, etc.
