Protein Assays Market Is Propelled By Increasing Use Of Personalized Medicine
Protein Assays Market Is Propelled By Increasing Use Of Personalized Medicine
The Global protein assays market is estimated to be valued at US$ 1.8 billion in 2024 and is expected to exhibit a CAGR of 7.8% over the forecast period 2024 to 2031.

The global protein assays market has witnessed tremendous growth in recent years owing to rising demand for disease diagnosis and drug discovery. Protein assays help detect and measure the concentration of proteins in biological samples. They play a vital role in research, development, and production of biotherapeutics and biosimilars. Advancements in proteomics and emphasis on personalized healthcare have augmented the need for sensitive and accurate protein detection techniques.

Protein assays help study protein interactions, functions, and pathways which aid in developing targeted therapies. They are widely utilized in pharmaceutical and biotechnology companies during research and development of innovative drugs and therapies. Growing prevalence of chronic diseases along with increasing R&D investments of pharma players is fueling the demand for protein assays worldwide.

Key Takeaways

Key players operating in the protein assays market are Thermo Fisher Scientific Inc., Merck KGaA, Bio-Rad Laboratories, Inc., PerkinElmer Inc., GE Healthcare, Promega Corporation, Cell Signaling Technology, Inc., Abcam PLC, Novus Biologicals, LLC and others.

Advancements in proteomic technologies and popularity of personalized medicine is driving significant growth in the market. Research activities focused on developing protein biomarkers for early disease detection is further augmenting demand. According to sources, over 695,000 clinical trials were registered in 2020 focused on disease protein profiling indicating increased emphasis on precision medicine.

Major market players are expanding their presence across emerging markets of Asia Pacific and Latin America through strategic collaborations with local diagnostic players. Focus on development of high-throughput and automated protein assay platforms will remain a key trend to boost efficiency and lower turnaround times in research and clinical settings.

Market Key Trends

One of the major witnessed in the Protein Assays Market Demand is growing adoption of microfluidic devices. These miniaturized platforms help study proteome at single cell level with high accuracy. They require minimal sample volume and can perform thousands of protein analyses in parallel. Such devices offer opportunities to gain deeper insights into disease pathogenesis and biomarker identification. Continuous technological advancements are increasing multiplex capabilities of microfluidics based protein assays.

Other notable trends include development of multiplex assays which enable measurement of multiple protein targets from single sample. This helps speed up clinical research while reducing costs. Emergence of homogenous proximity-based assays removing need for washing steps is another key innovation bringing efficiency gains in high-throughput protein analysis. Adoption of automation and artificial intelligence also continues to transform protein research landscape and drive the market growth over the forecast period.

Porter’s Analysis

Threat of new entrants: The threat is moderate as the capital requirement for setting up manufacturing facilities is high. Also, strong intellectual property rights pose barriers.

Bargaining power of buyers: The bargaining power of buyers is high as the market is fragmented with several global as well as regional players. Buyers can negotiate on price owing to the availability of substitutes.

Bargaining power of suppliers: The bargaining power of suppliers is moderate as there are many suppliers of raw materials and vendors providing specialized services.

Threat of new substitutes: The threat is moderate as researchers are constantly working on discovering new technologies for protein assays.

Competitive rivalry: Intense competition exists between players to gain market share and create brand loyalty.

Geographical Regions

North America accounts for the largest share of the global protein assays market, primarily due to major market players located in the region and higher research and development spending.

Asia Pacific is poised to grow at the highest CAGR during the forecast period owing to increasing life science research, rising healthcare expenditure, and improving diagnostic capabilities in countries such as China and India. Increased government funding for pharmaceutical and biotechnology industries also supports market growth.

 

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About Author:

Priya Pandey is a dynamic and passionate editor with over three years of expertise in content editing and proofreading. Holding a bachelor's degree in biotechnology, Priya has a knack for making the content engaging. Her diverse portfolio includes editing documents across different industries, including food and beverages, information and technology, healthcare, chemical and materials, etc. Priya's meticulous attention to detail and commitment to excellence make her an invaluable asset in the world of content creation and refinement.

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