The size of the North America Protein Chip Market was worth USD 0.80 billion in 2022 and estimated to be growing at a CAGR of 18.13%, to reach USD 1.85 billion by 2027.
A protein chip, also known as a protein array, is a high-throughput technology for detecting proteins, studying their functions and interactions, and tracking their expression levels. Protein arrays are a common technology in fundamental research and biotechnology companies, essential in North America.
Proteomics is expected to be a key revenue generator for the protein chip market, is still being used in drug discovery and scientific research. Proteomics continues to outperform other protein chip technologies in applications such as chromatography, superficial fluid chromatography, X-ray crystallography, spectroscopy, protein fractionation, surface plasmon resonance, and electrophoresis.
The protein chip market in North America is predicted to grow rapidly in the future years due to the rising demand for tailored treatment, significant R&D investments, rising prevalence of cancer incidences, and the growing use of improved diagnostic testing equipment. Furthermore, the global protein chip market is expected to be driven by technological developments in diagnostic testing and the rising prevalence of cancer. Also, the North American protein chip market is expected to get favored by the increased awareness of personalized medicine.
One of the primary limitations of the North American protein chip market is automated target screening utilizing protein chips. These are system-based, and the output is entirely dependent on the input. Despite significant investments, another stumbling block for this sector is the scarcity or lack of protein in the market. The high cost of devices due to the high manufacturing cost associated with complicated manufacturing procedures is a significant impediment to the worldwide organ-on-chip business. Despite substantial investments by several companies, proteins are scarce on the market. In addition, changes in the microenvironment have a significant impact on proteins. This is a limiting issue in maintaining protein arrays in a stable state for long periods of time. Due to low yield, declining consistent and trustworthy proteins production may stifle market expansion over the forecast period.
In addition, in underdeveloped nations, a lack of healthcare coverage and technical challenges connected with protein chip technology may hamper the market expansion in this region.
This research report on the North American protein chip market has been segmented and sub-segmented into the following categories.
Geographically, the global protein chip market was dominated by North America in 2020 due to strong demand for molecular-based diagnostics techniques and increased awareness among the patient population. In addition, North America is considered a developing market in protein chip technology due to the financial success of several countries, such as the United States and Canada. Furthermore, most drug research companies outsourced their clinical trial drug development studies to North America due to the enormous demographic pool.
Increased protein chip consumption in emerging economies such as the United States and Canada is expected to open up new prospects for the protein chip market. Furthermore, the market in North America is expected to grow during the forecast period due to increased investment by industry participants and increased adoption of protein chips for diagnostic purposes.
KEY MARKET PLAYERS:
A few of the notable companies operating in the North American 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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