Major players in the protein assays market are Thermo Fisher Scientific Inc., Merck KGaA, Bio-Rad Laboratories Inc., Lonza Geoup AG, Abcam PLC, PerkinElmer Inc., BioVision Inc., Cell Signaling Technology Inc., Geno Technology Inc., GE HealthCare, Promega Corporation, Novus Biologicals LLC, F. Hoffmann-La Roche AG, Soltec Ventures (Soltec Bio Science) and Takara Bio Inc.
The global protein assays market is expected to grow from $2.22 billion in 2022 to $2.60 billion in 2023 at a compound annual growth rate (CAGR) of 16.99%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The protein assays market is expected to reach $4.20 billion in 2027 at a CAGR of 12.70%.
The protein assay services market includes revenues earned by entities by providing different protein quantitation methods such as enzyme-linked immunosorbent assay (ELISA), western blot analysis, and more recently, mass spectrometry, among others.The market value includes the value of related goods sold by the service provider or included within the service offering.
Only goods and services traded between entities or sold to end consumers are included.
Protein assay refers to the process of determining how much or how many distinct proteins there are in a sample, depending on the case.Many clinical and research procedures include the isolation and detection of proteins.
The protein assay is used to quantify the presence of a particular protein, or a variety of proteins, in a sample.
North America was the largest region in the protein assays market in 2022.Asia-Pacific is expected to be the fastest-growing region in the forecast period.
The regions covered in this report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The two major product types for protein assays are reagents and kits and instruments.A reagent is a substance that is used because of its chemical or biological action in manufacturing a product, developing images, or detecting or measuring a component.
Various technologies are used in protein assays, such as absorbance-based protein assays, colorimetric protein assays, and fluorescence-based protein assays. Protein assays are used in several end-user industries, such as the pharmaceutical industry, the biotechnology industry, clinical laboratories, hospitals, and academic research institutes.
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.
Technological advancements have emerged as the key trend gaining popularity in the protein assay market.Major companies operating in the protein assay market are focused on innovating new technologies to strengthen their position in the market.
For instance, in November 2020, NanoString Technologies Inc., a US-based biotech company offering discovery and translational research solutions, launched GeoMx Digital Spatial Profiler (DSP) for next-generation sequencing (NGS) readout, enabling multi-analyte analysis for both nCounter® and NGS readout. Users of the GeoMx Cancer Transcriptome Atlas will receive supplemental protein content prepared for NGS readout from these assays. On both formalin-fixed paraffin-embedded and fresh frozen tissue, these novel protein assays have been evaluated for multi-plex performance. The GeoMx Protein Assays for NGS Readout have made it simple for users to compare the levels of protein expression in our prostate cancer samples to the findings from the GeoMx Cancer Transcriptome Atlas. The company’s Technology Access Program offers immediate access to GeoMx DSP protein readouts using NGS.
In October 2021, Abcam PLC, a UK-based provider of diagnostic and therapeutic applications, acquired Biovision Inc. for USD 340 million. This acquisition would strengthen Abcam’s internal innovation and increase its scale to support the markets for cellular assays and biochemical assays. With this acquisition, Abcam now has access to BioVision’s product line, capabilities, and 70-strong expert manufacturing and development teams. Biovision Inc. is a US-based company that develops and provides a wide range of commodities, including assay kits, antibodies, recombinant proteins, and enzymes.
The countries covered in the protein assays market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
The protein assays market research report is one of a series of new reports that provides protein assays market statistics, including protein assays industry global market size, regional shares, competitors with a protein assays market share, detailed protein assays market segments, market trends and opportunities, and any further data you may need to thrive in the protein assays industry. This protein assays market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.