The size of the Middle East and Africa Protein Chip Market was worth USD 0.16 billion in 2022 and estimated to be growing at a CAGR of 17.8%, to reach USD 0.37 billion by 2027.
A protein chip is used to track the activities and interactions of proteins in the body. In addition, it is also believed that increased awareness of personalized drugs will help the market growth. The main drivers that will continue to drive the MEA protein chip market are the rising cancer incidence rate, the biopharmaceutical industry's research for successful drugs, recent technological advancements in gene and protein studies, and increasing use of advanced technologies in diagnostic testing. According to the World Health Organization, cancer is one of the leading causes of death worldwide, with over 10 million deaths in 2020. In 2018, in Saudi Arabia, over 10500 deaths with 24,500 new cancer cases were reported. Protein biochips can help reduce the cancer mortality rate with early detection and treatment.
Increasing investment in research and development of protein biochips, as protein arrays have many applications, such as cancer diagnosis and protein interaction assays for specific clinical diagnostics, driving the market over time. Many companies work with mass spectrometry, and manufacturers and laboratories collaborate with companies related to protein chips. The increased demand for personalized drugs and increased R&D in proteomics are also expected to drive the protein chip market growth in the MEA region.
Automated target screening is one of the significant limitations in the MEA protein chip market as they are systems based and the outcome would depend entirely on the input provided. This can lead to false results, which will delay diagnosis and treatment. Another limitation for this market would be the scarcity or availability of proteins despite intense attention on this industry. In addition, companies are facing financial restraints to cover all the aspects of proteomics needed to study protein chips for research and development, which will be a challenge for the market.
This research report on the Middle East and Africa protein chip market has been segmented and sub-segmented into the following categories.
Geographically, the Saudi Arabian protein chip market is anticipated to grow at a moderate CAGR during the forecast period and play a dominating role in this region. The market growth is due to the increase in the population affected by an increasing number of infectious diseases, technologically advanced products, growing awareness of personalized medicine among people, and raising awareness of targeted drug delivery therapies for cancer therapeutics. In addition, the booming biomedical and biotechnology industries will further increase the demand for protein chips in the market.
The African region is forecasted to experience a steady growth rate, mainly due to the increasing population affected by the growing prevalence of infections, high cancer rate, and the growing need for technological advancements. Hence, it is believed that these factors will help the MEA protein chip market to grow faster, especially in the South African regional market. Moreover, with the growing initiative of the government, it is estimated that the market will see growth opportunities in the future.
Among other MEA regional markets, the market in the United Arab Emirates grew at the highest CAGR. Growing technical advancements in the healthcare sector, skilled labor, and the growing number of investment programs to sponsor the latest DNA chip technology in drug discovery research have helped the market grow significantly.
KEY MARKET PLAYERS:
Companies playing a prominent role in the MEA 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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