The size of the Proteins Assays Market in Europe was valued at USD 0.45 Billion in 2022. It is further estimated to be growing at a CAGR of 10.7% and worth USD 0.75 Billion by 2027.
The European protein assays market is expected to be driven by Increased government funding and initiatives, rapid technological advancements in protein assay techniques. The proliferation of chronic diseases such as cardiovascular, neurological, and other infectious diseases across the region. Also, rising expenditure on pharmaceutical and biological research and development are just a few of the primary factors driving the market forward.
The increasing use of protein content determination in numerous industries connected to pharmacy and biotechnology is expected to fuel the market’s growth rate. On the other hand, dynamic advancements in protein analysis and proteomics are expected to increase the demand for new technologies and advanced analytical techniques to define therapeutic proteins, boosting the protein assays market's considerable growth throughout the forecast period.
In addition, with significant increased public-private investments in proteomics research and rising spending on pharmaceutical and biotechnology research and development for the diagnosis of diseases such as cancer and HIV, the protein assays industry is booming. Early diagnosis is made easier using prognostic and diagnostic tests that are cost-effective, repeatable, and simple. In addition, assays in illness diagnosis, medication discovery, and development motivate biotechnology and biopharmaceutical companies to engage in research and development, propelling the protein testing market forward in the European region. Favorable socioeconomic and demographic variables such as urbanization, population expansion, disposable incomes, and an increase in the standard of living are expected to move the protein assays market forward in Europe.
Anticonvulsant adverse medication reactions, a strict regulatory environment, and unapproved bipolar medicines may limit the market growth. In addition, potential limitations to the overall growth of the European protein assays market include challenges connected to the development of protein assays for diverse illness types.
This research report on the European protein assays market has been segmented and sub-segmented into the following categories.
By End User:
Geographically, the European protein assays market is predicted to increase substantially during the forecast period. The protein assay market in Europe is expected to grow due to increasing investment in various commercial and government-funded research and development activities in the area and surging expenditure on pharmaceutical and biotechnology sector growth. The countries such as the United Kingdom, France, Germany, Italy, Spain, Russia, and the rest of Europe are contributing to expanding the regional market growth.
During the forecast period, the UK protein assays market is expected to lead the European region. The market growth is expected to be driven by the pharmaceutical and biotechnological sectors, a strong trend of research and development in the life sciences industry, and a growth in public-private drug research collaborations.
The German protein assays market is predicted to grow the fastest during the forecast period. The market growth is expected to be driven by increased research funding, developing proteomics and genomics methodologies, and the rising usage of advanced protein assays techniques. In addition, due to the increasing use of dye-binding assays in disease diagnosis, the dye-binding proteins assays sector has a considerable share of the market based on type. Because of this technology's higher sensitivity and accuracy, absorbance-based protein tests have a significant market share.
KEY MARKET PLAYERS:
A few of the noteworthy companies operating in the European protein assays market profiled in the report are 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.
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