The size of the Europe Protein Chip Market was worth USD 0.69 billion in 2022 and estimated to be growing at a CAGR of 18.16%, to reach USD 1.58 billion by 2027.
The high technology behind protein chips has popularized their use for the past several years. This technology is used to monitor proteins' interactions and activities and determine their function on a large scale. The European protein chip market is expected to experience high CAGR growth during the forecast period, owing to the increasing burden of chronic disease, adopting the proteomic and genomic applications, and the growing demand for the latest technology in diagnostics. According to the Cancer Atlas, in 2019, there were around 3.96 million new cancer cases and nearly 1.97 million deaths in Europe. Protein chips are one of the revolutionary tools that have a promising future in cancer proteomics research. All the factors mentioned above are expected to drive growth to the protein chip market in the European region during the forecast period.
Other factors include the increasing burden of morbidity and mortality due to chronic diseases due to late detection and new technologies being developed in the market. Most big pharmaceutical companies have invested heavily in research and development and adopted the latest DNA chip technology. The focus will be on protein expression profiling, biomarker discovery, and disease diagnosis in the coming years, owing to the growing need for personalized drugs and the increasing demand for target-specific drugs, especially for cancer disease. According to the European cardiovascular disease statistics, around 46% of all deaths are due to cardiovascular diseases, and almost 38% of deaths in the European Union are due to cardiovascular diseases. DNA microarrays can profile the expression of tRNA and mRNA in atherosclerotic plaques, thus helping the studied market.
Proteins are very sensitive to changes in their microenvironment. This presents a challenge in long-term storage; this may challenge the market growth. In addition, other factors such as lack of consistent and reliable protein production due to poor performance could hamper the market's growth during the forecast period.
This research report on the European protein chip market has been segmented and sub-segmented into the following categories.
In 2020, Germany dominated the European protein chip market, owing to the high number of protein chip labs and research centers established in the region, the change in lifestyle leading to increased incidence of chronic diseases, and improving R&D for the development of new drugs. High-tech techniques will significantly impact biomedicine, biotechnology, and biological analysis in the years to come and are expected to provide unique performance opportunities such as disease diagnosis, biomarker discovery, and a wide range of applications in biotechnology.
The United Kingdom protein chip market is predicted to expand at a healthy CAGR during the forecast period owing to increased investment by market players and increasing adoption of protein chips for diagnostic purposes in the region.
The French market is estimated to be the fastest-growing region during the forecast period due to increased public funding, growing awareness of personalized medicine, high prevalence, and incidence rate of cancer. The rapid development of protein chips and the success of personalized treatments are expected to drive market growth. In addition, the increasing adoption of protein chips in other regions such as Spain, Italy, the Netherlands, and Denmark are likely to create new opportunities for the European protein chip market.
KEY MARKET PLAYERS:
A few of the promising companies operating in the European protein chip market profiled in this report are SEQUENOM, Inc., Sigma Aldrich Corporation, Affymetrix, Inc., EMD Millipore, Illumina, Inc., Life Technologies Corporation, and Agilent Technologies.
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