The rise in prevalence of chronic and acute diseases is increasing demand for innovative therapeutics for managing and treating such diseases. This will help the global antifreeze protein market grow remarkably in the coming years, predicts Fortune Business Insights in their new study. The study is titled, “Antifreeze Protein Market: Global Market Analysis, Insights, and Forecasts, 2018 – 2025.”
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Some of the major companies that are present in the Global Antifreeze Protein Market are;
- Kaneka Texas Corporation
- AquaBounty Technologies Inc (NASDAQ: AQB)
- Sirona Biochem Corp.
- Unilever and Protokinetix Inc. and other players.
Fortune Business Insights finds the insect’s segment to account for the largest proportion with respect to the source segment as the majority of antifreeze products are derived from insects. Besides this, the market is anticipated to contribute a significant amount of revenue from the food sub-segment, with respect to the application segment. This is owing to the rise in research and development processes for preventing food freezing.
Rising Prevalence of Cancer Cases and Increased Demand for Cancer Therapeutics to Boost Market
Ice Structuring Proteins (ISPs) are polypeptides produced by organisms such as bacteria, fungi, and insects and animals for medical applications. These medical applications include hypothermia therapeutics, transplantation procedures, and cryosurgery. Increasing prevalence of both acute and chronic diseases are driving the global antifreeze protein market.
Other major factors boosting the global antifreeze protein market are the rising prevalence of cancer and the increasing demand for innovative therapeutics for treating diseases. Besides this, the rise in a number of cancer cases and continuous efforts to overcome cancer by research institutes is also propelling the demand for antifreeze proteins in the market worldwide. The National Cancer Institute reported an approximate of 1,735,350 new cancer cases in the U.S. and the death of 609,640 people due to cancer in 2018. Thus, the rising prevalence of cancer is likely to create lucrative growth opportunities for the antifreeze market during the forecast period.
Additionally, the market may grow astonishingly on account of high investments in research and development for developing better therapeutics. Apart from that, the emerging markets providing alternatives for antifreeze proteins may also propel its demand in the market in future.
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On the flipside, the market may face challenges in terms of limited use of anti-freezing protein in food applications. Again, the high cost of production in terms of research and development expenditure and lack of skilled professionals for conducting medical experiments may also restrict the growth of the market.
Moreover, the competitive landscape of the global antifreeze protein market is consolidated because of the strong presence of a few players and their set market limits that make it extremely difficult for new players to enter into the market. This may restrict market growth during the forecast period.
Nevertheless, antifreeze proteins hold scope for a number of applications such as cosmetic sector, healthcare, and food. Storing products in frozen form requires ice and antifreeze proteins helps to maintain the quality of the products and this is a major factor boosting the market globally.
Unilever Product Approvals to Set New Competitive Standards
Geographically, Europe and North America are both contributing the largest shares to the market. This is attributable to the rise in research and development initiatives for numerous advanced medical procedures. However, Asia Pacific market is yet to be explored and is seen as a great potential for growth. This is due to the market opportunities provided by countries in the region namely, China and Japan, and the number of bio-oriented technology research centers conducting studies on anti-freezing proteins that will provide lucrative growth opportunities for the market in the region.
Market players are focusing on regulatory measures for approving anti-freezing proteins in a number of sectors such as cosmetics, healthcare and especially food products. To site an example, the insect free antifreeze protein launched by Unilever got approvals for application in food and medicine industry and also for further laboratory research. Such kind of investments are likely to bode well for the market in the long run.
KEY QUESTIONS ANSWERED:
What is the market size and growth rate of the global and regional market by various segments?
What is the market size and growth rate of the market for selective countries?
Which region or sub-segment is expected to drive the market in the forecast period?
What Factors are estimated to drive and restrain the market growth?
What are the key technological and market trends shaping the market?
What are the key opportunities in the market?
What are the key companies operating in the market?
Which company accounted for the highest market share?
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