PROTEIN ASSAYS MARKET ANALYSIS

Protein assays are used to determine the concentration of solubilized protein. Various biochemical methods are available for quantification, isolation, and analysis of proteins. The selection among available protein assays is based on factors such as its chemical compatibility with buffer components of the samples to be assayed. The recent past has witnessed an increasing inclination of end users towards high quality and safety for drugs and its ingredients. This has led to rapid advancements in molecular biology and genetic engineering.

Protein assays have different restorative applications such as protein purification, electrophoresis, cell biology, molecular biology, and other research applications. Dynamic developments in protein analysis and proteomics is intended to increase the demand for new technologies and sophisticated analytical techniques to characterize therapeutic proteins, which is expected to result in significant growth of the protein assays market over the forecast period.

The global protein assay market is estimated to be valued at US$ 2,173.5 million in 2022 and is expected to exhibit a CAGR of 7.8% during the forecast period (2022-2030).

Figure 1. Global Protein Assay Market Share (%), by Region, 2022

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Increasing launches of products by key players are expected to drive the growth of the protein assays market over the forecast period.

For instance, in November 2020, NanoString Technologies, Inc., a biotech company, had launched GeoMx DSP Protein Assays for next-generation sequencing (NGS).

Moreover, in March 2022 Biognosys, a leading proteomics company, had launched proteomics platforms that provide biological insights to the diagnostic and pharmaceutical industries for research and development purposes.

Figure 2. Global Protein Assay Market Share (%), by End User, 2022

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The increasing adoption of inorganic growth strategies such as merger and acquisition for the development of protein assays by key players is expected to drive the market growth during the forecast period.

For instance, in July 2021, Eli Lilly and Company, a pharmaceutical company, had acquired Protomer Technologies, a biotech company. The protomer Technology Company uses proprietary peptide- and protein-engineering platform to identify and synthesize molecules that can sense glucose or other endogenous modulators of protein activity.

Global Protein Assay Market – Impact of Coronavirus (COVID-19) Pandemic

Since the COVID-19 virus outbreak in December 2019, the disease has spread to over 100 countries across the globe, and the World Health Organization declared it a public health emergency on January 30, 2020.

The COVID-19 can affect the economy in three main ways: by directly affecting the production and demand for drugs, by creating disruptions in distribution channels, and through its financial impact on firms and financial markets. Due to nationwide lockdowns, several countries such as China, India, Saudi Arabia, U.A.E., Egypt, and others are facing problems with regard to the transportation of drugs from one place to another.

However, the COVID-19 pandemic had a positive impact on the global protein assay market. For instance, in February 2021, according to the World Health Organization (WHO), antigen tests have most significantly been developed using the protein-based fluorescence lateral flow assay (LFA) test platform The protein-based fluorescence lateral flow assay (LFA) test  has the benefit of administration at delivering quick results, point-of-care, lower cost and do not require skilled personnel. This method gives accurate and rapid detection of SARS-CoV-2-infected persons and asymptomatic carriers of the COVID-19.

Global Protein Assay Market: Key Developments

In April 2022, PerkinElmer, Inc. medical life science company had launched two assay kits AlphaLISA and homogeneous time-resolved fluorescence (HTRF) which offer easy and rapid detection and quantification of Chinese hamster ovary (CHO) host cell protein (HCP) impurities during the biopharmaceutical manufacturing process. The identification of Chinese hamster ovary (CHO) host cell protein (HCP) impurities can prevent immunogenicity and hamper potency, stability, and overall effectiveness of a drug.

Global Protein Assay Market: Restraint

The major factors that hinder the growth of the global protein assay market are lack of reimbursement and high costs associated with tests. Medicare is a single-payer that provides insurance coverage only for services that are considered reasonable and necessary in the diagnosis or treatment of disease. Therefore, services that are only meant for research purposes and not for the patient’s benefit are not reimbursed by Medicare.

Key Players

Major players operating in the global protein assay market include 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.