Global Protein Assays Market – Industry Trends and Forecast to 2030

Protein Assays Market Analysis and Size

The protein assay should be selected, keeping the appliance in mind. Different protein assays are available on the market, varying in supported methodology, specificity, sensitivity, quantity, and reproducibility. Estimating protein concentration may be a crucial step in processes for protein purification, biology, cell biology, electrophoresis, and other research applications. Although many research and development activities were conducted and are currently being conducted with the aid of protein assays, they played a significant role in understanding the mechanism of the virus. This is anticipated to have a positive impact on the protein assay market.

Data Bridge Market Research analyses that the protein assays market, valued at USD 2.30 billion in 2022, will reach USD 5.03 billion by 2030, growing at a CAGR of 10.24% during the forecast period of 2023 to 2030.  In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework.

Protein Assays Market Scope and Segmentation  

Market Definition

One of the four macromolecules that make up life is a protein. Carbohydrates, lipids, and nucleic acids make up the other three. All living things have proteins, which are made up of long chains of amino acids that fold into what are known as "hierarchical structures" to carry out specific tasks within their cells and tissues. Protein assay is an analytical method for determining the protein concentration in a solution. The protein assay is one of the methods that is most frequently used in life science research. Analytical science offers a wide variety of protein assays, but each type of assay is unique in its own right and has advantages and disadvantages of its own.

Protein Assays Market Dynamics

Drivers

• Increased funding in research and development surges the demand

The favourable government funding climate for proteomics research and the sizeable investment made in numerous research and development projects that are funded by both public and private sources. Increased spending on research and development will help pharmaceutical and biotech companies dominate the market. Through its numerous applications in pre-clinical, clinical, and later stages of drug development, the protein assay market is also anticipated to experience high demand. Furthermore, it is anticipated that Europe will see a quick rise as a result of the region's significant investment in a range of publicly and privately funded research and development initiatives as well as the region's consistently rising spending on the advancement of the pharmaceutical and biotechnology industries will fuel market expansion.

• Rapid development in the infrastructure of healthcare drives the market

The market for protein assays is anticipated to increase due to the infrastructure that supports healthcare. Medical professionals with specialized training, such as doctors and nurses and advanced pharmaceutical companies make up the infrastructure known as healthcare. Since protein assays are helpful for the diagnosis of numerous conditions, such as kidney, cardiovascular, and cancers, the growth of the healthcare sector will be a key factor in the market for protein assays. For instance, according to a report released in November 2022 by the Organization for Economic Co-operation and Development (OECD), a France-based intergovernmental organization designed to promote economic growth and international trade, health spending as a percentage of GDP increased across OECD countries from 8.8% in 2019 to 9.7% in 2020.

Opportunities

• The rise in the prevalence of chronic diseases surges the market growth

The rapid increase in the prevalence of chronic diseases such as cancer, cardiovascular diseases, diabetes, and others, coupled with the technological innovations and advancement in the protein assay technique, are expected to be significant growth factors for the protein assay market during the forecast period of the study, which further creates lucrative opportunities to grow. For instance, according to a World Health Organization (WHO) update from 2021, non-communicable diseases (NCDs) are responsible for the death of about 41 million people each year, accounting for 71 percent of all deaths worldwide. More than 15 million people die from an NCD between the ages of 30 and 69, with 85 percent of these "premature" deaths occurring in low- and middle-income countries.

• Expansion in the use of drug protein creates a lucrative opportunity to grow

Protein assays are frequently used in drug discovery and development processes, so pharmaceutical companies are predicted to increase their investment in these projects. Therefore, the market for protein assays in the United States is anticipated to expand significantly over the ensuing years. Product launches, partnerships, mergers, and acquisitions will also help the businesses expand their product lines and geographic reach, aiding in the profitable expansion of the nation's market. To efficiently identify and quantify the signatures of disease-related autoantibody biomarkers.

Restraints/Challenges

• The lack of skilled workers limits the growth

The development of protein assays is lacking because of skilled labour. Through government has initiated various rules and regulations but adverse drug reactions and unapproved treatments are impacting due to the lack of knowledge and lack of skilled workers, which can further impede the market growth as less knowledge will limit the demand for protein assays in the market.

• The high cost can impede market expansion

A hindrance to the growth of the global market for protein assays is the high cost of multiplex assay hardware. Lack of reimbursement and the high cost of the tests themselves are the main factors impeding the growth of the global market for protein assays. Medicare is a lone provider of insurance coverage, and it only covers procedures deemed reasonable and essential for detecting or treating diseases. Therefore, patients cannot be reimbursed for services that are provided solely for research and not for the benefit of patients, thus it limits the market growth.

This protein assays market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the protein assays market contact Data Bridge Market Research for an analyst brief, our team will help you take an informed market decision to achieve market growth.

Recent Developments

• In 2022, In order to give its customers in the pharmaceutical and diagnostics industries deep biological insights across the entire research and development pipeline, from early-stage discovery to clinical settings, Biognosys recently launched an expanded suite of proteomics platforms.
• In 2022, Amgen and Generate Biomedicines collaborated to find and develop protein therapeutics for five targets, spanning numerous therapeutic modalities and therapeutic areas, with an initial investment of more than USD 1.9 billion.

Global Protein Assays Market Scope

The protein assays market is segmented on the basis of product, technology, application and end users. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

Product

• Reagents
• Dye Binding Assays
• Test Strip-Based Assays
• Copper-Ion-Based Assays
• Others
• Kits
• Instruments
• Accessories

Technology

• Colorimetric Protein Assays
• Fluorescence-Based Protein Assays
• Absorbance-Based Protein Assays

Application

• Drug Discovery and Development
• Disease Diagnosis
• Others

End Users

• Pharmaceutical and Biotechnology Companies
• Clinical Laboratories
• Hospitals
• Academic Research Institutes
• Others

Global Protein Assays Market Regional Analysis/Insights

The protein assays market is analysed and market size insights and trends are provided by country, product, technology, application and end users as referenced above.

The countries covered in the protein assays market report are  U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.

North America dominates the market and will continue to flourish its trend of dominance during the forecast period. The major factors attributable to the region’s dominance are a strong base for research and development and where governments emphasize health promotion and disease prevention.

Asia-Pacific will undergo the highest growth rate during the forecast period owing to the quick development of the healthcare infrastructure and the increased focus on research and development in the industry. Additionally, China's efforts to expand have been aided by its biotech industry, which has produced encouraging outcomes in fields like biologics and vaccines.

The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points such as down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.

Competitive Landscape and Protein Assays Market Share Analysis

The protein assays market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to protein assays market

Some of the major players operating in the protein assays market are:

• BD (U.S.)
• F. Hoffmann-La Roche Ltd (Switzerland)
• Thermo Fisher Scientific Inc. (U.S.)
• Bio-Rad Laboratories, Inc. (U.S.)
• Novus Biologicals (U.S.)
• Merck KGaA (Germany)
• BioVision Inc (U.S.)
• Cell Signaling Technology, Inc. (U.S.)
• Cytiva (U.S.)
• Abcam plc. (U.K.)
• PerkinElmer Inc. (U.S.)
• QIAGEN (Germany)
• G-Biosciences (U.S.)
• Lonza (Switzerland)
• Bio-Techne (U.S.)
• Illumina, Inc. (U.S.)
• New England Biolabs (U.S.)
• Takara Bio Inc (Japan)
• Promega Corporation (U.S.)
• Elabscience Biotechnology Inc. (U.S.)

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