Global Protein Assays Market, by Product Type (Reagents and Kits (Dye Binding Assays, Copper-Ion based Assays, Test Strip based Assays, Other Protein Assays) and Instruments) by Technology Type (Absorbance based Protein Assays, Colorimetric Protein Assays, Fluorescence based Protein Assays),by End User (Pharmaceutical and Biotechnology Industry, Clinical Laboratories, Hospitals, Academic Research Institutes) and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) 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), as highlighted in a new report published by Coherent Market Insights.
Increasing launches of new protein assay techniques by key players in market are expected to drive market growth over the forecast period. For instance, in 2021, NextGen Sciences Inc., a biotechnology company had launched its first multiple protein (multiplex) assay, plasmadiscovery41, for oncology biomarker discovery and qualification. The mass spectroscopy platform is used in NextGen's assay.
Global Protein Assay Market – Impact of Coronavirus (COVID-19) Pandemic
The COVID-19 pandemic and lockdowns in various countries across the globe have impacted the financial status of businesses across all sectors, including the private healthcare sector. The COVID-19 pandemic has impacted the entire supply chain of the healthcare industry, mainly due to strict lockdown in several regions. Private healthcare is one such sector that has been impacted significantly by the COVID-19 pandemic.
However, the COVID-19 pandemic had a positive impact on the global protein assay market, owing to its possible association such as diagnosis, vaccines with the COVID-19 infection. For instance, according to an article published by the National Center for Biotechnology Information, a series of databases relevant to biotechnology and biomedicine, in November 2021, Thermo Fisher Scientific Inc., an American supplier of scientific instrumentation, consumables and reagents, and software services confirmed the detection of SARS-CoV-2 (omicron) by its technique TaqPath covid-19 tests. TaqPath COVID-19 assays launched by Thermo Fisher Scientific Inc. detected SARS-CoV-2 infections by identifying the presence of three gene targets from the orf1a/b, S, and N regions of the virus.
Global Protein Assay Market: Key Developments
In June 2021, Thermo Fisher Scientific announced agreement with Advanced Electrophoresis Solutions (AES) to highlight the strengths of the technologies used for diagnosis when coupled for protein analysis. The announced agreement included combination of essential protein separation techniques with mass spectrometry (MS) to advance therapeutic protein development through streamlined categorization.
Browse 35 Market Data Tables and 34 Figures spread through 156 Pages and in-depth TOC on “Global Protein Assay Market ”- Forecast to 2030, Global Protein Assay Market , by Drug Type (Lubiprostone, Linaclotide, Eluxadoline, Rifaximin, Alosetron, and Others), by Medical Condition (IBS-constipation and IBS-diarrhea), by Distribution Channel (Hospital Pharmacies, Retail Pharmacies, and Online Pharmacies), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa)
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Moreover, increasing adoption of inorganic strategies by key players such as acquisitions is expected to drive the market growth over the forecast period. For instance, in February 2019, Bausch Health Companies Inc., a global company whose mission is to improve people's lives with its healthcare products, announced the acquisition of certain assets of Synergy Pharma, a speciality pharmaceutical company, including the addition of TRULANCE to its product portfolio, which is a tablet approved for adults with irritable bowel syndrome and chronic idiopathic constipation.
Key Takeaways of the Global Protein Assays Market:
- Global protein assays market is expected to exhibit a CAGR of 7.8% during the forecast period owing to market players entering into collaborations to develop high quality assays for various applications such as quantification. For instance, in August 2017, Abcam and TTP Labtech a global leader in the design and development of automated instrumentation and consumables for life science applications entered into collaboration to develop reagent kits for quantification of secreted proteins in multiplexed screening assays.
- Among product type, reagents and kits segment is expected to account for the largest share in the global protein assay market over the forecast period. This is attributed to quick and ready-to-use modifications and the requirement of repeat purchase of reagents.
- Among regions, North America is estimated to account for the largest market share in the global protein assay market over the forecast period, owing to increasing incidence of various diseases such as lung cancer. For instance, according to the American Cancer Society, in February 14 2022 around 117,910 new cases of lung cancer have been registered in the U.S.
- Major players operating in the global protein assays 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.
