Protein Assays Market

Global Protein Assays Market Size (2022 to 2027)

The size of the global protein assays market is estimated to grow USD 2.97 billion by 2027 from USD 1.76 billion in 2022, growing at a CAGR of 11.1% during the forecast period.

Protein assays are utilized to determine the concentration of solubilized protein. Various biochemical methods are available for the quantification, isolation, and analysis of proteins. Selection from the available protein assays is based on their chemical compatibility with the samples' buffer components to be analyzed.

The recent past has seen an increasing inclination by end-users towards the high quality and safety of drugs and their ingredients. It has led to rapid advances in molecular biology and genetic engineering, and these advancements are anticipated to drive protein analysis technology adoption during the forecast period (2020-2025). Protein assays have distinguished therapeutic applications such as protein purification, electrophoresis, cell biology, molecular biology, and various research applications.

Dynamic improvements in protein analysis and proteomics aim to elevate the call for new technologies and advanced analytical techniques to characterize therapeutic proteins, which is anticipated to boost significant growth in the protein assays market during the forecast. The protein assays market is experiencing strong growth due to substantial public-private investments in proteomics research and increased spending on pharmaceutical and biotechnology R&D for the diagnosis of diseases such as cancer and HIV. Prognostic and diagnostic tests facilitate early diagnosis and are cost-effective, reproducible, and straightforward. Therefore, assays in disease diagnosis, drug discovery, and development encourage biotechnology and bio pharmacy players to invest in research and development, driving the growth of the protein testing market.

However, stringent regulatory frameworks and adverse drug reactions of anticonvulsants and unapproved bipolar drugs may hamper the growth of the market. The rising application of protein content determination in various fields related to pharmacy and biotechnology has stimulated the development of the market.

Impact of COVID-19 on the global protein assay market

Since the COVID-19 virus outburst in December 2019, the virus has extended to nearly 90 countries worldwide, and the World Health Organization has declared it a public health emergency. The global impacts of the 2019 coronavirus disease (COVID-19) are already starting to be felt and will remarkably influence the protein assays market in 2020. COVID-19 can affect the global economy in three main ways: directly affecting production and demand, creating disruptions in the supply chain and need, and through its financial impact on businesses and financial markets. The COVID-19 outbreak has had effects in many ways, such as flight cancellations; travel bans and quarantines; restaurants closed; all restricted interior events; more than forty countries have declared a state of emergency; a massive downturn in the supply chain; stock market volatility; declining business confidence, growing public panic, and uncertainty about the future.

REPORT COVERAGE

This research report on the Global Protein Assays Market has been segmented and sub-segmented into the following categories and calculated market size and forecast for each segment until 2027.

Protein Assays Market - By Product:

• Reagents
• Kits
• Instruments

Protein Assays Market - By Type:

• Dye-Binding
• Copper-Ion Based
• Test Strip

Protein Assays Market - By Technology:

• Absorbance
• Colorimetric
• Fluorescence

Protein Assays Market - By Application:

• Drug Discovery
• Diagnosis

Protein Assays Market - By End User:

• Academic and Research Institutes
• Pharmaceutical & Biotechnology Companies
• Hospitals
• Clinical Laboratories

Protein Assays Market - By Region:

• North America
• Europe
• Asia Pacific
• Latin America
• The Middle East and Africa

North America is leading the market while Europe is in second place. Growth in the Pharmaceutical and biotechnological industries, a strong R & D trend in the life sciences industry, increasing private-public partnership for drug development has helped these regions dominate the market. In 2017, according to a publication by Pharmaceuticals Research and Manufacturers of America (PhRMA), a trade group representing companies in the pharmaceutical industry in the United States, PhRMA member organizations (pharmaceutical companies) invested approximately USD 60.21. $ 1 billion in R&D, the largest biopharmaceutical R&D expenditure in the United States, in 2017. Growing demand for protein quantification in laboratories for activities ranging from protein characterization to clinical diagnostic testing and assay drugs will drive market growth in the near future.

The European protein analysis market is anticipated to experience rapid growth due to the high investments in various government and privately funded research and development programs in the region and the increased spending on the development of the pharmaceutical and biotechnology industry.

The Asia Pacific is expected to grow the fastest due to increasing research funding, growing proteomics and genomics techniques, and rising adoption of advanced Protein Assays techniques. Dye binding Protein Assays segment holds a significant share in the market based on type, due to increasing usage of dye-binding assays in disease diagnosis. Absorbance-based protein assays had a substantial share in the market based on technology due to increased sensitivity and accuracy.

Countries like China, Japan, and India in Asia-Pacific are also set to become promising markets for protein analysis shortly. Healthcare spending in Asia has increased due to the expansion of public healthcare programs and the population's growing wealth. India is anticipated to see increased spending due to a government resolution to improve health services. Besides, China and South Korea are striving to develop their biotechnology sector for diagnostic purposes. China's efforts to expand its biotech sector have yielded promising results in sectors such as vaccines and biologics, and the same can be anticipated in the protein analysis industry. However, poor performance in research and development (R & D), high cost of infrastructure, strict regulatory framework, and lack of trained resources are some of the protein analysis market limitations.

The Middle East region is anticipated to grow faster due to factors such as the extensive development of health infrastructure and the growing emphasis on research and development in the health sector.

KEY MARKET PLAYERS:

A few of the prominent companies operating in the Global Protein Assays Market profiled in this report are Abcam PLC., Bio-Rad Laboratories Inc., Biovision Inc., Cell Signaling Technology Inc., GE Healthcare, PerkinElmer Inc., Thermo Fisher Scientific, Geno Technology Inc., Lonza Group, Merck KGaA, and Novus Biologicals, LLC.

RECENT MARKET DEVELOPMENTS:

• In January 2019, the FDA developed new guidelines for the immunogenicity testing of therapeutic protein products. It provides recommendations for each facility to develop and validate assays for the detection of drug antibodies.
• In August 2018, Becton, Dickinson, and Company released the latest assay for protein analysis. The BD ™ AbSeq assay will assist analyze proteins at the single-cell level using elevated throughput sequencing.
• On February 27, 2019: Ph.D. and an assistant professor of cell and tissue biology in the School of Dentistry, Stephen Floor, utilized an innovative procedure called long-read sequencing to analyze an entire strand of RNA despite being broken down in small pieces. With the advent of technology, the behavior of RNA and its outcome can be studied in different amounts and types of proteins.