The size of the North America Proteins Assays Market was valued at USD 0.66 Billion in 2022. It is further estimated to be growing at a CAGR of 10.65% and worth USD 1.10 Billion by 2027.
The expansion of the North American protein assays market is expected to be accelerated by increased investment in pharmaceutical and biotechnology R&D activities, favorable government regulations for proteomics research, and the presence of a large number of companies during the forecast period.
In the recent past, end-users have become increasingly concerned about medications' high quality and safety and their components. Rapid developments in molecular biology and genetic engineering have resulted, and these advancements are expected to boost protein analysis technology usage throughout the projected period. Protein assays are used for various therapeutic purposes, including protein purification, electrophoresis, cell biology, molecular biology, and research. According to a report released by the Pharmaceutical Research and Manufacturers of America (PhRMA), PhRMA's member organizations (pharmaceutical firms) spent $58.8 billion on research and development in 2022, accounting for the bulk of all biopharmaceutical R&D spending in the US.
Various novel biomarker identification technologies and emerging new uses for protein assays present competitors in the North American protein assays market with several prospects. In 2017, Gyros Protein Technologies AB launched a new version of its anti-drug antibody (ADA) solution for the immunogenicity market. Customers can use the Gyrolab ADA solution to execute drug-tolerant ADA assays in a time-efficient manner. Thus, the Lowering of hands-on time, using minimal amounts of patient samples and reagents and reducing run times.
The protein assays market in North American is estimated to be restricted by the high cost of multiplex assay gear. However, increasing investment by pharma and biotech businesses in research and development (R&D), as well as funding by governments of various countries for proteomics research, are likely to propel the worldwide protein assay market forward during the forecast period.
Cost regulatory for infra and low budgeting from government policies is a significant challenge for the market growth.
This research report on the North American protein assays market has been segmented and sub-segmented into the following categories.
By End User:
Geographically, the North American region was the largest market for Protein Assays in 2020, is expected to grow rapidly over the forecast period. The growth is driven by the marketing research tools and existing companies that have been firmly established in the market since the beginning. Regardless, administration organizations, organizations, external managers, and so on are focusing on creating client-driven things, contributing to market growth.
The U.S. protein assays market is predicted to hold the most significant share in the North American market during the forecast period. It is primarily driven by a well-established biotechnology and pharmaceutical research and development infrastructure and intensive studies, and technological advancements in proteomics.
On the other hand, the Canadian protein assays market is anticipated to be growing at a promising CAGR from 2022 to 2027. The market growth is fueled by the rising interest, innovation, apparatus, and growing awareness about protein assays.
KEY MARKET PLAYERS:
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