Protein Assays Market

Global Protein Assays Market Size (2023 to 2028)

The size of the global protein assays market is estimated to grow to USD 3.3 billion by 2028 from USD 1.95 billion in 2023, growing at a CAGR of 11.1% during the forecast period.

Global Protein Assays Market Share Insights:

• Based on product, the reagents segment dominated the protein assay market in 2022.
• Based on application, the drug discovery segment led the market in 2022.
• Based on end-user, the pharmaceutical and biotechnology companies segment accounted for 38.4% of the global market share in 2022.
• Based on region, the North American region had the leading share of the global market in 2022.
• The European region held for a notable share of the worldwide market in 2022. 

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

MARKET DRIVERS:

The growing patient count who has cancer worldwide, increasing investments to conduct protein research, and growing efforts by the market participants, especially product launches boost the protein assay market growth.

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, which are anticipated to drive protein analysis technology adoption during the forecast period. 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 assay market during the forecast period. The protein assay market is experiencing strong growth due to substantial public-private investments in proteomics research and increased pharmaceutical and biotechnology R&D spending to diagnose 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 assays market.

MARKET RESTRAINTS:

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

Impact of COVID-19 on the global protein assay market

Since the COVID-19 outbreak 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 assay market in 2020. COVID-19 can affect the global economy in three main ways: directly affecting production and demand, creating supply chain and need disruptions, and 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 closing; 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. However, the market is anticipated to showcase a healthy CAGR during the forecast period due to better situations.

REPORT COVERAGE

This research report on the global protein assays market has been segmented and sub-segmented into the following categories.

Protein Assays Market - By Product:

• Reagents
• Kits
• Instruments

Based on product, the reagents segment accounted for a significant share of the global protein assays market in 2022. Furthermore, the segment's domination is expected to continue throughout the forecast period.

On the other hand, the kits segment is predicted to register a healthy CAGR during the forecast period.

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

Based on the application, the drug discovery had the most significant share of the global protein assays market in the coming years. The growing investments for R&D activities in protein research are one of the major factors promoting the segment’s growth.

Protein Assays Market - By End User:

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

Based on the end-user, the pharmaceutical and biotechnological companies segment captured the leading share of the global market in 2021 and is expected to grow at a significant CAGR during the forecast period.

Protein Assays Market - By Region:

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

The protein assays market in North America dominated the market in 2022. The domination of the North American market will continue during the forecast period. YOY growth in the pharmaceutical and biotechnological industries, increasing R&D activities from the life sciences industry, and increasing private-public partnerships for drug development are a few of the factors driving the regional market growth. 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 coming years.

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 protein assays market 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 the increasing usage of dye-binding assays in disease diagnosis. On the other hand, based on technology, absorbance-based protein assays had a substantial share in the market due to increased sensitivity and accuracy. Countries like China, Japan, and India in Asia-Pacific will soon become promising markets for protein analysis. Healthcare spending in Asia has increased due to expanding 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 strive 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, some of the protein analysis market limitations are poor performance in research and development (R & D), high cost of infrastructure, strict regulatory framework, and lack of trained resources.

The protein assays market in Latin America is estimated to grow at a steady CAGR during the forecast period.

The protein assays market in the Middle East and Africa 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. In addition, it provides recommendations for each facility to develop and validate assays for detecting drug antibodies.
• In February 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 RNA strand despite being broken down into small pieces. With the advent of technology, the behavior of RNA and its outcome can be studied in different amounts and types of proteins.
• In August 2018, Becton, Dickinson, and Company released the latest assay for protein analysis. The BD ™ AbSeq assay will assist in analyzing proteins at the single-cell level using elevated throughput sequencing.