Market Overview:
Protein assays are laboratory techniques aimed at detecting and quantifying the amount of protein in a sample. They enable researchers and scientists to understand the structure, function and behavior of proteins. Protein assays play a key role in experiments involving proteomics, drug discovery, disease research and development of protein therapeutics.
Market key trends:
The growing applications of protein biomarkers in disease diagnostics and drug development is a major trend fueling the protein assays market. Protein biomarkers can provide deep clinical insights and facilitate early disease detection. Pharmaceutical companies are leveraging protein assays to screen large libraries of compounds during drug discovery processes. Further, the rising demand for personalized medicine and precision therapeutics has also boosted the need for quantitative analysis of proteins using protein assay kits and reagents. The developments in protein biomarker research and increased funding for protein-based drug development projects by governments worldwide will continue to promote the growth of this market over the forecast period.
SWOT Analysis
Strength: Protein assays help in detection, identification, and quantification of proteins in samples. They play an important role in drug discovery and development process.
Weakness: Protein assays require high capital investments for setting up laboratories and procurement of analytical instruments. They also demand skilled professionals for obtaining accurate and reliable results.
Opportunity: Rising funding for proteomic research from government and private entities is creating ample opportunities for growth of protein assays market. Moreover, technological advancements in assay development is further expanding scope of applications.
Threats: Stringent regulatory framework for approval of new assays may negatively impact time to market. Moreover, high costs associated can deter smaller players.
Key Takeaways
The global protein assays market is expected to witness high growth, exhibiting CAGR of 8.8% over the forecast period, due to increasing investments in proteomics research. Growing pharmaceutical and biotechnology industries reliance on protein analytics for drug discovery and development is also fueling market growth.
North America dominated the global market in 2022 and is expected to maintain its lead over 2023-2030. This is attributed to presence of major pharmaceutical companies and strong government funding for research in the region. Asia Pacific is poised to be the fastest growing market owing to increasing life science research and expanding healthcare infrastructure.
Key players operating in the protein assays market are Thermo Fisher Scientific Inc., GE Healthcare, Merck KGaA, Bio-Rad Laboratories, Inc., Lonza, Abcam plc, PerkinElmer Inc., Bio-Techne, BioVision Inc., Cell Signaling Technology, Inc., and Geno Technology Inc. Continuous technological advancements and new product launches have helped these players to gain stronghold in the market.
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