The size of the Asia Pacific Protein Assays Market was worth USD 0.28 Billion in 2022. This value is further expected to grow at a CAGR of 12.42%, to reach USD 0.50 Billion by 2027.
The APAC Protein Assays market is expected to be driven by the proliferation of chronic diseases such as cardiovascular, neurological, and contagious diseases across the region. Also, the technological advancements in protein assay techniques, increasing investments, and funding by the government and non-government organizations effectively expand the market growth.
On the other hand, key players in the region are significantly spending on pharmaceutical and biological research and development activities which is expected to provide lucrative growth opportunities to the market growth. End-users are becoming more inclined towards the high quality and safety of pharmaceuticals and their constituents. In addition, rapid improvements in molecular biology and genetic engineering, and these advancements are expected to promote protein analysis technology usage over the forecast period.
Protein purification, electrophoresis, cell biology, molecular biology, and numerous research applications are only a few of the therapeutic applications of protein assays. In addition, improvements in protein analysis and proteomics are expected to increase demand for new technologies and advanced analytical techniques to describe therapeutics proteins, resulting in significant growth in the protein assays market in the forecasted period.
Moreover, the protein assays market in the APAC region is booming with significant public, private investments in proteomics research and development to diagnose diseases such as cancer and HIV. Early diagnosis is made easier using prognostic and diagnostics tests that are cost-effective, repeatable, and simple. Assays in illness diagnosis, drug discovery, and development encourage biotechnology and biopharmaceutical companies to engage in research and development, propelling the protein testing market forward. The increasing use of protein content determination in numerous industries connected to pharmacy and biotechnology is expected to fuel the market growth in the APAC region.
However, the stringent regulatory environment, severe anticonvulsant drug reaction, and unapproved bipolar drugs are expected to restrain the growth rate of the protein assay market in the APAC region during the forecast period.
This research report on the Asia pacific protein assays market has been segmented and sub-segmented into the following categories.
By End User:
Geographically, the APAC is one of the fastest-growing regions globally. The regional market growth is strongly driven by rising research and development expenditure in life science, expanding private, public partnerships for proteomics research, and emerging economies such as China and India, and Japan, and current initiatives.
China recorded the largest share of the APAC Protein Assays market in 2020. The market growth is attributed to expansion in the pharmaceutical and biotechnological sectors, a vital research and development trend in the life sciences industry, and increased private, public drug development partnerships. In addition, China’s efforts to expand its biotech sector have delivered encouraging results in sectors like vaccines and biologics, and the protein analysis industry is expected to grow.
The Japan protein assays market is likewise expected to become a lucrative market for protein analysis shortly; due to the expansion of public healthcare systems and the growing income of the people, healthcare spending in Asia has increased.
On the other hand, the Indian protein Assays market is anticipated to account for a promising share in the coming years. Improving the healthcare sector, developing proteomics and genomics methodologies, and supportive government policies are fuel market growth.
KEY MARKET PLAYERS:
Abcam PLC., Bio-Rad Laboratories Inc., Biovision Inc., Cell Signaling Technology Inc, GE Healthcare, PerkinElmer Inc., Thermo Fisher Scientific, Geno Technology Inc., Lonza Group, Merck KGaA, and Novus Biologicals, LLC are playing a pivotal role in the APAC protein assays market.
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