Market Research Future (MRFR) speculates that the global protein assays market is likely to register 10.8% CAGR during the forecast period (2017-2023). Use of protein assays for early diagnosis of cancer is estimated to favor the market growth. Protein assay is referred to as an analytical technique which is generally used to measure the concentration of protein in a solution and is one of the most extensively used processes in life science studies. The technique is used to detect the presence of protein in a sample. There are several types of assays available in the market which differ from one another based on principle, sensitivity, and methodology.
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Market Potential and Pitfalls
With the use of protein assays for early diagnosis of HIV and cancer have significantly reduced the mortality and morbidity of the disease. Protein assays are facile, cost-effective, and reproducible, which fuels its demand over the assessment period. Lowry, Bradford, UV spectroscopic, and BCA are some of the commonly used protein assays. The use of protein assays in drug discovery and development and disease diagnosis is encouraging the pharmaceutical and biotechnological sectors to invest in research and development activities. Such factors are estimated to propel the propel assays market growth throughout the estimated period. Major market giants launch several new biomarker identification systems which create opportunities for the protein assay market globally. For instance, Gyros Protein Technologies AB had launched a new version of its anti-drug antibody solution in June 2017 for the immunogenicity market. With the emergence of the solution, the customers can automatically run the assays by using fewer volumes of patient reagents and samples in a time-efficient manner.
The market’s course is chiefly directed by rising investment by the biotech and pharmaceutical companies in R&D activities coupled with the increased funding by governments across countries for proteomics research. Moreover, the presence of a huge number of players is fostering the growth of protein assays across the globe.
On the contrary, high infrastructure cost, low research and development, insufficient trained resources, and strict regulatory framework are some of the top barriers considered to vitiate the market growth throughout the appraisal period.
Global Protein Assays Market: Segmental Analysis
The global protein assays market has been segmented on the basis of application, type, technology, product, and end-users.
By mode of type, the global protein assays market has been segmented into test strip-based assays, copper-ion-based assays, dye-binding assays, and others.
By mode of application, the global protein assays market has been segmented into drug discovery, diagnosis, protein purification, and others.
By mode of product, the global protein assays market has been segmented into instruments, reagents & kits, and others.
By mode of technology, the global protein assays market has been segmented into fluorescence-based protein assays, colorimetric-based protein assays, and absorbance-based protein assays. Among these, the absorbance-based protein assays segment is predicted to dominate the market.
By mode of end-users, the global protein assays market has been segmented into academic institutes, hospitals & diagnostic centers, pharmaceutical & biotechnology companies, and others.
Regional Insights
Geographically, the protein assays market span across regions namely, Europe, Americas, Asia Pacific, and the Middle East & Africa.
Considering the global scenario, the American region is likely to dominate the global market mainly due to the presence of North America. The North American region is estimated to occupy the largest share in this region owing to the presence of strong regional economics, research and development base, and high emphasis on wellness and disease prevention by the governments.
The European region is considered to expand at a rapid pace and is likely to retain its growth in the coming years. The growth is credited to the increasing investment in several governments and private funded R&D programs. Also, the high spending on biotechnology and the pharmaceutical industry is triggering the demand for protein assays in this region.
The Asia Pacific region is presumed to register a significant growth owing to the presence of nations such as India, Japan, and China. The healthcare expenditure in this region has increased due to the growing affluence of the population coupled with the extension of state health care programs. Also, nations like South Korea and China are striving hard to develop their biotechnology sector for better diagnosis purposes. Such factors are highly fueling the market growth in this region.
Competitive Dashboard
The prominent players operating the global protein assays market are Promega Corporation (U.S.), PerkinElmer Inc. (U.S.), Abcam plc (U.S.), Lucigen Corporation (U.S.), F. Hoffmann-La Roche Ltd (Switzerland), New England Biolabs (U.S.), GE Healthcare (U.S.), Takara Bio Inc. (Japan), Thermo Fisher Scientific (U.S.), Cell Signaling Technology Inc. (U.S.), Bio-Techne (U.S.), QIAGEN (Germany), Bio-Rad Laboratories Inc. (U.S.), Lonza Group Ltd. (Switzerland), Illumina Inc. (U.S.), BioVision Inc. (U.S.), Merck KGaA (Germany), and others.
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