The Protein Assays Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Protein Assays Global Market Report 2024, The protein assays market size has grown rapidly in recent years. It will grow from $2.53 billion in 2023 to $2.88 billion in 2024 at a compound annual growth rate (CAGR) of 14.0%. The growth in the historic period can be attributed to advancements in proteomic research, drug discovery and development activities, biotechnology and life sciences research, rising prevalence of chronic diseases, increasing adoption of personalized medicine.
The protein assays market size is expected to see rapid growth in the next few years. It will grow to $4.92 billion in 2028 at a compound annual growth rate (CAGR) of 14.4%. The growth in the forecast period can be attributed to expanding applications in clinical diagnostics, growing emphasis on biomarker discovery, biopharmaceutical production and quality control, technological integration in research platforms, rise in proteomic profiling for personalized therapies. Major trends in the forecast period include increased use of proteomics in drug discovery, development of high-sensitivity assay kits, focus on standardization and assay reproducibility, integration of proteomic data with other omics data, expansion of protein assays in clinical diagnostics.
The rapid development of healthcare infrastructure is expected to drive the protein assay market going forward. Healthcare infrastructure refers to an infrastructure that comprises cutting-edge equipment, specialized medical personnel, such as doctors and nurses, as well as developed pharmaceutical enterprises. Protein assays are useful for the diagnosis of many conditions, including kidney and cardiovascular diseases, and cancers and hence, the development of healthcare infrastructure will drive the market for protein assays. For instance, in November 2022, according to the report published by the Organization for Economic Co-operation and Development (OECD), a France-based intergovernmental organization meant to stimulate economic progress and world trade, health spending as a percentage of GDP increased from 8.8% in 2019 to 9.7% in 2020 across OECD countries. For a group of 20 OECD nations, preliminary projections indicate that health spending grew by about 6% in 2021. Therefore, the rapid development of healthcare infrastructure is driving the growth of the protein assay market.
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The protein assays market covered in this report is segmented –
1) By Product Type: Reagents And Kits, Instruments
2) By Technology Type: Absorbance Based Protein Assays, Colorimetric Protein Assays, Fluorescence Based Protein Assays
3) By End User: Pharmaceutical Industry, Biotechnology Industry, Clinical Laboratories, Hospitals, Academic Research Institutes
Major companies operating in the protein assay market are concentrating their efforts on developing innovative solutions such as high-plex proteomics platforms. A high-plex proteomics platform refers to a proteomic technology or system designed to analyze a high number of proteins simultaneously in a single experiment. For instance, in November 2023, SomaLogic Inc., a US-based proteomics technology company launched the ‘SomaScan 11K Platform’. The platform provides 11,000 total protein measurements and provides researchers a significant advantage in uncovering biomarkers and identifying potential drug targets for translational medicine. The addition of 3,500 proteins to the 11K assay is expected to unveil new biomarkers that were previously beyond measurement. This enhancement has the potential to contribute to the development of diagnostics with heightened accuracy.
The protein assays market report table of contents includes:
1. Executive Summary
2. Protein Assays Market Characteristics
3. Protein Assays Market Trends And Strategies
4. Protein Assays Market – Macro Economic Scenario
5. Global Protein Assays Market Size and Growth
…..
32. Global Protein Assays Market Competitive Benchmarking
33. Global Protein Assays Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Protein Assays Market
35. Protein Assays Market Future Outlook and Potential Analysis
36. Appendix
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