Global Protein Chip Market Growth Analysis 2024 – Forecast Market Size And Key Factors Driving Growth

A protein chip is a high-throughput analytical tool used to study and analyze the interactions, functions, and activities of proteins on a large scale. They are used through a series of steps that involve immobilizing proteins onto a solid surface, probing with samples or molecules of interest, and detecting and analyzing the interactions or signals.

Sizing and Forecast
The protein chip market size has grown strongly in recent years. It will grow from $1.50 billion in 2023 to $1.61 billion in 2024 at a compound annual growth rate (CAGR) of 7.5%.  The growth in the historic period can be attributed to the rise in proteomics research, increasing cancer incidence rates, technological innovations, expanding applications in clinical diagnostics, increasing focus on biomarker discovery, and growing demand for high-throughput protein analysis.

The protein chip market size is expected to see strong growth in the next few years. It will grow to $2.16 billion in 2028 at a compound annual growth rate (CAGR) of 7.6%.  The growth in the forecast period can be attributed to rising demand for personalized medicine, next-generation protein chip technologies, integration with omics technologies, adoption in emerging markets, and a shift towards digital health and wearable devices. Major trends in the forecast period include miniaturization and multiplexing, integration with artificial intelligence (AI) and machine learning, point-of-care testing (POCT) applications, expansion into new disease areas, and customization and personalization.

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Segmentation & Regional Insights
The protein chip market covered in this report is segmented –
1) By Product: Lab-On-Chip, Integrated System, Arrayers, Microarrays System
2) By Technology: Analytical Microarrays, Functional Protein Microarrays, Reverse Phase Protein Microarrays
3) By Application: Diagnostics, Proteomics, Antibody Characterization
4) By End User: Hospitals And Clinics, Academic And Research Institutes, Diagnostic Laboratories, Pharmaceutical And Biotechnology Companies

North America was the largest region in the global protein chip market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the protein chip market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

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Major Driver Impacting Market Growth
The growing demand for personalized medicine is expected to propel the growth of the protein chip market. Personalized medicine refers to a medical care philosophy that aims to tailor medicines and interventions to the particular requirements of each patient. Personalized medicine has emerged due to the rapid growth of ‘omics’ technology, data integration, genetics, and an awareness of the significance of tailored patient-specific medications and preventive actions. Protein chips offer a powerful platform for advancing personalized medicine by enabling comprehensive proteomic analysis, facilitating biomarker discovery, improving drug development and response understanding, and supporting the creation of personalized therapeutic strategies. For instance, in October 2022, according to the Personalized Medicine Coalition’s latest estimates, more than 75,000 genetic testing products and 300 personalized medicines are on the market for people with multiple types of cancer, genetically rare diseases, and a range of chronic and infectious diseases. Furthermore, in 2022, according to the Personalized Medicine Coalition, a US-based professional membership organization, 12 new customized medications were approved, accounting for around 34% of all newly approved treatments, a significant increase over prior years. Therefore, the growing demand for personalized medicine drives the growth of the protein chip market.

Key Industry Players
Major companies operating in the protein chip market are  Thermo Fisher Scientific Inc., GE Healthcare LLC, Roche Diagnostics GmbH, Agilent Technologies Inc., Illumina Inc., Sigma-Aldrich Corporation (Merck), PerkinElmer Inc., Shimadzu Corporation, Bio-Rad Laboratories Inc., Bruker Corporation, Surmodics Inc., Quotient Limited, OriGene Technologies Inc., RayBiotch Inc., Sengenics Corporation Pte Ltd., Gyros Protein Technologies AB, Innova Biosciences Limited, Innopsys S.A., CDI Laboratories Inc., Microarrays Inc., Full Moon BioSystems Inc., Arrayit Corporation, Biotech Support Group LLC

The protein chip market report table of contents includes:
1. Executive Summary
2. Market Characteristics
3. Market Trends And Strategies
4. Impact Of COVID-19
5. Market Size And Growth
6. Segmentation
7. Regional And Country Analysis
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27. Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis

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