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Protein Chip Market Expected to Reach $1,361.1 Million by 2030

 

Report Code : A00229

quote increasing global burden of cancer has significantly mounted in the past decade. Protein chips can be used in detection of particular cancer protein for accurate cancer diagnosis and finalization of treatment therapy. Thus, rise in prevalence of cancer is anticipated to support growth of the protein chip market during the forecast period. quote

Onkar Sumant
Manager, Healthcare at Allied Market Research

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Protein Chip Market Report, published by Allied Market Research, Predicted that the global protein chip market was valued at $652.8 million in 2020, and is projected to reach $1,367.1 million by 2030, registering a CAGR of 7.5% from 2021 to 2030.

Protein chip (MS) is an analytical technique that is used to measure mass-to-charge ratio of ions. This technique basically studies the effect of ionizing energy on molecules. It depends on chemical reactions in the gas phase in which sample molecules are consumed during formation of ionic and neutral species. A mass spectrometer generates multiple ions from a sample under investigation, separates them according to their specific mass-to-charge ratio (m/z), and then records relative abundance of each ion type. The results are then presented as a mass spectrum, which is a plot of intensity as a function of the mass-to-charge ratio. It determines and identifies quantities of a compound within a sample and can also identify traces of components at minute concentrations. It is utilized both quantitatively and qualitatively to detect unknown compounds and calculate isotopic composition of a particular element in a molecule. It can also be used to observe fragments of a compound to determine its structure.

Protein chip provides increased sensitivity over other analytical systems, owing to reduced background intrusion and superior specificity from characteristic fragmentation patterns to detect unknown compounds.

Specific applications of protein chip include drug testing and discovery, food contamination detection, pesticide residue analysis, isotope ratio determination, protein identification, and carbon dating. In addition, it can also identify existence of suspected compound and data regarding molecular weight of a compound in the mixture and provides data about isotopic abundance of elements and chemical data determined for a short term. Other uses include quantifying the amount of a compound in a sample or studying fundamentals of gas phase ion chemistry (chemistry of ions and neutrals in a vacuum). MS is now commonly used in analytical laboratories that study physical, chemical, or biological properties of a great variety of compounds.

By end user, the academic & research institutes segment is the major contributor and is expected to hold the largest share during the forecast period.. The diagnostic laboratory sgement is expected to grow at the highest rate, owing to adoption of protein chips in diagnostics.

By technology, the analytical microarrays segment is the major contributor toward the protein chip market growth, owing to maturity of the market and is a preferred for its high throughput and relatively low costs due to minimal reagent consumption, multiplexing, and fast kinetics.

By application, the antibody characterization segment is the major contributor, owing to advantages that include reduction in biological sample volume, high sensitivity/specificity, and large data generation.

In 2020, North America accounted for the highest contribution of about $295.20 million to the total revenue generated, owing to established protein chip laboratories and research centers in the region. However, Asia-Pacific is expected to witness highest CAGR of 8.50% during the forecast period, owing to high prevalence of cancer cases and rise in geriatric population. Moreover, rise in adoption of protein microarray in diagnostics is expected to boost the protein chip market growth.

The COVID-19 outbreak has impacted the global protein chip market positively. There has been a high demand for protein microarray from diagnostics laboratory due to COVID-19. In 2020, in the U.S., digital protein microarray platform for rapid multiplex quantification of cytokines from critically ill COVID-19 patients admitted to the intensive care unit (ICU) at the University of Michigan Hospital helped in a personalized strategy guided by rapid cytokine assays. In April 2020, China developed a SARS-CoV-2 proteome microarray containing 18 out of 28 predicted proteins and applied it for characterization of IgG and IgM antibody responses from 29 convalescent patients. These responses provide insights to aid development of effective diagnostic, therapeutic, and vaccination strategies. These developments are expected to foster growth of the protein chip market.

Key Findings of the Study

  • Depending on technology, the analytical microarrays protein chip segment was highest contributor with $369.9 million in 2020, and is expected to maintain the trend throughout the forecast period.
  • By application, the diagnostics segment is expected to grow at a CAGR of 8.6% from 2020 to 2030.
  • Region wise, Asia-Pacific is expected to exhibit highest CAGR of 10.8% during the forecast period.

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quote Protein Chip Market by Technology (Analytical Microarrays, Functional Protein Microarrays, and Reverse Phase Protein Microarrays), Application (Diagnostics, Proteomics, and Antibody Characterization), and End User (Hospitals & Clinics, Diagnostic Laboratories, Academic & Research Institutes, and Pharmaceutical & Biotechnological Companies): Global Opportunity Analysis and Industry Forecast, 2021–2030 quote

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