The global protein binding assay market is expected to grow at a CAGR of 9.78% from 2023 to 2028 and the market size is expected to grow to USD 766.6 million by 2028 from USD 480.8 million in 2023.
The binding assay is a process under biochemistry and microbiology that aims at assessing how two molecules react with each other. The molecules can be proteins to proteins or small molecules, nucleic acids, etc. The assay is conducted to test the binding of molecules with each other. The protein binding assay focuses explicitly on protein binding and reactions with other proteins. Protein binding assays are used in antimicrobial studies, disease analysis of diseases, and R&D of drugs.
Impact of COVID-19 on the global protein binding assays market:
The COVID-19 pandemic leads to a situation of panic among the people. Moreover, various countries were falling short of standard medicinal supplies like hydroxychloroquine, so there was a struggle to supply drugs to the public. Furthermore, the increasing cases of COVID-19 led the market to need the production of a vaccine for the virus, which encouraged research and development activities. The antigens attached to the infectious agents and drugs are primarily proteinic. Therefore, the protein binding assay helps to study the heart of the disease and the efficiency of the drug mechanism assisting in the process of treatment vaccine production. As a result, the pandemic has been an advantage for the global protein binding assay market, promoting increased research and developments in the field. Therefore, the biotechnology and pharmaceutical industries have witnessed significant growth due to the demand for drugs and vaccines during the COVID-19 crisis.
The increasing advancements in technologies fuel the global protein binding assay market.
The instruments and methods used for the procedure are developing daily along with the rising research and development activities in drug development due to increased demand and expenditure on drug manufacturing. As a result, biopharmaceutical companies are aiding the rise in the demand for new and advanced drugs with the help of protein-binding assays. In addition, the need to reduce the costs of drug discovery and development to provide drugs at affordable prices and new research in therapeutics by companies is driving the market growth.
The usage of protein binding assays in pre-clinical trials to drive protein binding assays market growth.
The entire process of drug manufacturing involves several steps, and a significant amount of investment and time goes into each step. If the drug is disapproved by FDA or fails to produce results at the end step of the process, all the investment in the drug is lost. The increased assessment of medicines and stringent approval rules make the situation even more prevalent. This failure of drugs results in substantial economic losses for biopharmaceutical companies. Therefore, to avoid such failure, the companies are now investing more in protein binding assays and studies, which are a part of the initial preclinical steps of drug manufacturing and are highly efficient in determining the efficiency of a drug.
The complications associated with the technology used during the protein binding assay, the scarcity of experienced professionals with skills for protein binding assays, and the lack of awareness and information about the assays hinder the market's growth.
Market Size Available
2022 to 2028
2023 to 2028
By Technology, Products & Services, End-User & Region
Various Analyses Covered
Global, Regional & Country Level Analysis, Segment-Level Analysis, Drivers, Restraints, Opportunities, Challenges, PESTLE Analysis, Porter’s Five Forces Analysis, Competitive Landscape, Analyst Overview of Investment Opportunities
North America, Europe, Asia Pacific, Latin America, Middle East & Africa
This research report on the global protein binding assay market has been segmented and sub-segmented based on products & services, technology, end-user & region.
Global Protein Binding Assays Market - By Technology:
The equilibrium dialysis segment is expected to hold the most significant share of the global protein binding assay market based on technology during the forecast period. This segment's dominance can be attributed to its quality of results, budget-friendliness, and reliability of protein binding assay. Equilibrium dialysis can use the method in drug-serum binding assays and antigen-antibody binding assays. In addition, it is the simplest method of assays and allows for low-affinity tests that are not provided by other methods. Therefore, the advantage of the process is that it has a significant market share and is expected to continue growing during the forecast period.
Global Protein Binding Assays Market - By Products & Services:
Based on the products & services, the services segment is expected to register a healthy CAGR during the forecast period. The increasing need for protein-binding assays in drug manufacturing is pushing the services segment of the market. Many CROs are providing various services associated with protein binding techniques to companies because of a rise in the demand for the services. The service providers are using state-of-art technology and instruments to provide these services to increase their credibility with clients. Therefore, the instruments segment is also expected to see growth. Additionally, the instruments are user-friendly automated systems that make the research work less strenuous, leading to a rise in demand.
Global Protein Binding Assays Market - By End-Use:
Based on the end-user, the pharmaceuticals and biotechnology segment is expected to hold the largest protein binding assay market during the forecast period. This dominance can be attributed to the sheer number of established pharmaceutical companies and the capacity to produce drugs and drug discovery. In addition, the rising research and development activities in the pharma segment and the increased investment in the early stages of drug manufacturing to avoid failures by companies are making the segment lead the market.
Global Protein Binding Assays Market - By Region:
North America is expected to account for the largest share of the market during the forecast period. The growth is expected to be driven owing to key market players' presence and increasing investment in drug discovery and development activities. In addition, the established pharmaceutical industry and the increased expenditure in the field contribute to market growth. Furthermore, according to the national library of Medicine, as of July 11, 2022, 133,430 clinical trials were conducted in the U.S. alone. They are further raising the demand for the market in the area.
The Asia Pacific is also expected to grow significantly during the forecast period due to the new initiatives undertaken by regulatory agencies in developing economies like China, India, Japan, South Korea, etc. the drug development programs in the area are being renewed and more focussed on with rising awareness due to conferences being held in the field. In addition, the region has many emerging pharmaceutical companies due to the low cost of development and the need of the patient population.
TOP COMPANIES IN THIS MARKET:
Eurofins Scientific, 3B Pharmaceuticals, Creative Biolabs, Bioduro, Evotec (Cyprotex), Absorption Systems LLC, GE Healthcare, Thermo Fisher Scientific, Inc, Charles River, Sovicell GMBH, Merck KGaA, Biotium, Inc, Sartorius AG, General Electric Company, Biotium Inc. and MicroConstants Inc. are a few of the notable players in the global protein binding assays market profiled in this report.
The global protein binding assay market size was worth USD 399 million in 2021.
The Europe protein binding assay market is estimated to be valued at USD 202.1 million by 2027.
The protein binding assay market in the APAC region is expected to rise at a CAGR of 11.77% from 2022 to 2027.
Companies playing a key role in the global protein binding assay market are Eurofins Scientific, 3B Pharmaceuticals, Creative Biolabs, Bioduro, Evotec (Cyprotex), Absorption Systems LLC, GE Healthcare, Thermo Fisher Scientific, Inc, Charles River, Sovicell GMBH, Merck KGaA, Biotium, Inc, Sartorius AG, General Electric Company, Biotium Inc. and MicroConstants Inc.
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