The Global Protein Assay Market is expected to witness considerable growth during the forecast period, mainly due to the increasing investment by pharma and biotech companies in research and development (R&D) and funding by governments of various countries for proteomics research.
Protein quantification is pivotal part of daily workflow of protein extraction in biochemistry and molecular biology labs that involves protein extraction, analysis or labeling. Favorable government policies for proteomics research, and the presence of a large number of players in the global protein assay market are the key factors driving the growth of the market during the forecast period.
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Several new biomarker identification systems are launched by the key players which grants various opportunities for the global protein assay market. For instance, in June 2017, Gyros Protein Technologies AB launched a new version of its anti-drug antibody (ADA) solution for the immunogenicity market. This solution enables customers to automatically run the assays in a time-efficient manner using small volumes of patient samples and reagents, and shorten run-times.
According to a publication by Pharmaceuticals Research and Manufacturers of America (PhRMA), the organizations spent approximately $58.8 billion on R&D in 2015 accounted for the largest part of all the biopharmaceutical R&D spending in the U.S. However, high cost of multiplex assay hardware is limiting the growth of global protein assay market.
The global market of protein assays is expected to grow at a CAGR of approximately 10.8% during the forecast period 2017-2023.
The protein assays is segmented on the basis of type, application, product, technology and end-users.
On the basis of type, the market is segmented into copper-ion-based assays, test strip-based assays, dye-binding assays, and others
On the basis of application, market is segmented into diagnosis, drug discovery, protein purification and others
On the basis of product market is segmented into reagents & kits, instruments and others
On the basis of technology, market is segmented into colorimetric-based protein assays, fluorescence-based protein assays, and absorbance-based protein assays
On the basis of end-user, the market is segmented into hospitals & diagnostic centers, academic institutes, pharmaceutical & biotechnology companies and others.
The global protein assays market consists of countries namely America, Europe, Asia Pacific, and the Middle East.
North America is projected to hold the largest share of the global protein assay market due to presence of superior research and development base, strong regional economics, and greater emphasis on disease prevention and wellness by governments.
The European protein assay market is expected to witness rapid growth owing to the high investment in various private and government funded research and development programs in the region and increased spending on pharmaceutical and biotechnology industry development.
Countries such as China, Japan, and India in Asia Pacific are also poised to be promising markets for protein assay in the near future. The healthcare expenditure in Asia increased due to an extension of state health care programs and the increasing affluence of the population. India is anticipated to witness an expansion in spending due to a government resolution to enhance healthcare services. Moreover, China and South Korea are striving to develop their biotechnology sector for diagnosis purpose. China’s efforts to develop its biotech sector has shown good results in sectors such as vaccines and biological products and the same can be expected in the protein assays industry. However, low research and development (R&D) yields, high infrastructure cost, stringent regulatory framework, and lack of trained resources are some of the restraints of the protein assay market.
The Middle East region is expected to grow at a faster rate due to the factors such as the extensive development of health care infrastructure and growing emphasis on research and development in the health care sector.
Many new companies have jumped into the market in order to make the most out of the opportunities. Companies are implementing the strategies of mergers and acquisitions with other players. For instance, in June 2015, Thermo Fisher Scientific Inc. introduced the Orbitrap Fusion Lumos Tribrid mass spectrometer and updated the device in 2017.
Some of key the players in the global protein assays market are GE Healthcare (U.S.), Thermo Fisher Scientific (U.S.), Bio-Rad Laboratories Inc. (U.S.), Merck KGaA (Germany), Cell Signaling Technology Inc. (U.S.), Abcam plc (U.S.), Lucigen Corporation (U.S.), PerkinElmer Inc. (U.S.), QIAGEN (Germany), Lonza Group Ltd. (Switerzland), Bio-Techne (U.S.), BioVision Inc. (U.S.), Illumina Inc. (U.S.), New England Biolabs (U.S.), Takara Bio Inc. (Japan), Promega Corporation (U.S.), F. Hoffmann-La Roche Ltd (Switerzland), and others.
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Detailed Table of Contents:
1 Report Prologue
2.2 Scope Of The Study
2.2.1 Research Objective
2.3 Market Structure
2.4. Market Segmentation
3 Research Methodology
3.1 Research Process
3.2 Primary Research
3.3 Secondary Research
3.4 Market Size Estimation
3.5 Forecast Model
4 Market Dynamics
4.4 Mega Trends
4.5 Macroeconomic Indicators
5 Market Factor Analysis
5.1 Value Chain Analysis
5.2 Porters Five Forces
5.3 Demand & Supply: Gap Analysis
5.4 Pricing Analysis
5.5 Investment Opportunity Analysis
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