The increasing prevalence of chronic diseases, such as cancer, diabetes and autoimmune diseases, is attributable to rising pollution and the adoption of a sedentary lifestyle. The increasing incidence of chronic diseases has augmented the need for novel therapeutics derived from non-traditional sources for the pharmaceutical industry to create new drug leads. Rising research initiatives by organizations to increase the popularity of non-traditional drug sources are driving the growth of the global antifreeze proteins market. Cancer researchers face the challenge of obtaining storing tissues extracted during tumor biopsies from cancer patients. The addition of antifreeze proteins to cancer tissue samples can improve post-thaw viability, irrespective of the freezing method and storage temperature applied. Our analysts have predicted that the antifreeze proteins market will register a CAGR of over 30 percent by 2023.
Market Overview
Increasing Popularity of E-commerce Channels
Retailers use online platforms to expand their geographical reach and consumer base. The convenience of online shopping and improved security features of e-commerce platforms are also contributing to the growth of the global antifreeze proteins market. Small and local market players find success in reaching premium customers by making their products available online on a national scale. Wider Internet penetration, consumer trust in online retail, faster shipping services, and the fragmentation of consumer choice are playing a significant role in market growth. These advantages create a lucrative distribution channel for vendors antifreeze proteins. This is expected to propel the demand for antifreeze proteins during the forecast period.
Lack of Trained Laboratory Professionals
The extraction of antifreeze proteins from various animal sources and injecting them into target products require biotechnology and genetic engineering tools. For reliable results, experiments involving biotechnology and genetic engineering require accurate analysis and interpretation of results. Correlation of experimental results with the hypothesis of the experiment is crucial. Therefore, experiments involving blue biotechnology must be performed by skilled personnel. Most laboratory technicians are unaware of the latest technologies in laboratory equipment and their benefits. The lack of expertise increases the probability of incorrect results. This will adversely affect the growth of the market during the forecast period.
Competitive Landscape
The market appears to be moderately fragmented. The presence of several companies including A/F Protein Inc. and Kaneka Corp. makes the competitive environment quite intense. Factors such as the increasing popularity of e-commerce channels and the rising prevalence of chronic diseases, requiring innovative biotechnology tools will provide significant growth opportunities to the antifreeze proteins manufacturers. Kodera Herb Garden Co. Ltd., Sirona Biochem Corp., and Unilever Plc. are some of the major companies covered in this report.
