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A06187 | Pages: 325 | Charts: 72 | Tables: 155 |
The global protein assays market size was valued at $2.4 billion in 2022, and is projected to reach $4.5 billion by 2032, growing at a CAGR of 6.5% from 2023 to 2032. Protein assays market growth is majorly driven by rise in prevalence of cancer, diabetes, and neurodegenerative disease, increase in geriatric populations in developing countries and rise in adoption of protein assay tools by healthcare providers for disease diagnosis. Moreover, the increase in the number of pharmaceutical and biotechnology companies contributes to the growth of the protein assays market as these industries extensively use protein assays for quality control, process optimization, and product development. Furthermore, the increase in adoption of personalized medicine and rise in number of collaborations and partnerships between key market players and academic institutes are the major factors that propel the growth of the market.
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Key Takeaways:Â
Proteins are one of the four macromolecule building blocks of life. The other three are carbohydrates, lipids, and nucleic acids. Proteins are long strings of amino acids that fold together into what are called ‐hierarchical structures‐ to perform specialized functions within the cells and tissues of all living organisms. The purpose of the protein assay is to determine the amount or concentration of a specific protein or an array of different proteins in a sample. Isolating and detecting protein is used for many clinical and research processes. This can be a primary step before further manipulation in research and development process, initial capture of protein before structural analysis, or it can be a final detection step in a clinical laboratory as part of a disease diagnosis.Â
Market Dynamics Â
Protein assays play a significant role in the disease diagnosis and monitoring treatment response. Thus, rise in prevalence of cancer, diabetes and neurodegenerative diseases is anticipated to fuel the demand for protein assay kit and boost the growth of the market. For instance, according to data published by National Institute of Environmental Health Sciences in the U.S. and according to a report from the Alzheimer's Disease Association in 2022 as many as 6.2 million people may have Alzheimer‐™s disease and a million Americans are living with Parkinson‐™s disease, according to the Parkinson‐™s Foundation. Thus, a rise in prevalence of neurodegenerative disorders is expected to propel the growth of the market during the forecast period.Â
Moreover, the ongoing technological advancements in protein assay techniques contribute to market growth. Continuous innovations, such as improved detection sensitivity, higher throughput, and automation, attract researchers and industries to adopt newer assay technologies. Thus, a rise in technological advancement is anticipated to boost the growth of the market. For instance, in 2023 Pixelgen Technologies, the single cell spatial proteomics company, announced the commercial launch of its first kit, based on the company's proprietary Molecular Pixelation (MPX) technology for spatial analyses of immune cell surface proteins in 3D. Â
Furthermore, the increase in the number of R&D activities in proteomics research by protein assays industry players and surge in demand for personalized medicine are expected to fuel the growth of the protein assay market. In addition, developments in biopharmaceutical industry and expansion of biopharmaceutical sector's including the development of biologics and biosimilars, create demand for protein assays in the characterization and quality control of these products. However, the high cost of protein assay is expected to restrain the market growth. For instance, the price of a calorimetry protein analyzer costs around $4,000 to $5,000, whereas the cost of one protein assay kit or reagent 500ml bottle costs around $120 to $180. Thus, the high cost of protein assay kits and lack of awareness among the people regarding protein biomarkers is expected to hinder the growth of the market.Â
Segmental OverviewÂ
The protein assays market share is segmented into product type, technology, application, end user, and region. Based on product type, the market is bifurcated into kits & reagents and instruments and accessories. Based on technology, it is divided into absorbance-based protein assay, colorimetric-based protein assay and fluorescence-based protein assay. Based on application, it is segregated into drug discovery & development and disease diagnosis. Based on end user, it is classified into pharmaceutical and biotechnology companies, clinical laboratories, and others. Region wise the protein assays market opportunity is analyzed across North America, Europe, Asia-Pacific, and LAMEA.Â
By Product TypeÂ
The protein assays market share is categorized into kits & reagents and instruments and accessories. The kits & reagents segment dominated the market in 2022 and is expected to continue this trend during the forecast period, owing to the fact that kits and reagents used for protein assays typically include a combination of specialized tools and components that enable the parallel measurement of multiple protein biomarkers that helps in drug discovery and disease diagnosis.Â
[PRODUCTTYPEGRAPH]
By TechnologyÂ
The protein assays market size is bifurcated into absorbance-based protein assay, colorimetric-based protein assay and fluorescence-based protein assay. The absorbance-based protein assays segment dominated the market in 2022 and is expected to continue this trend during the forecast period, owing to the fact that absorbance-based protein assays technology offers increasing sensitivity and accuracy owing to the advent of new technologies.Â
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By ApplicationÂ
The market is segmented into drug discovery & development and disease diagnosis. The drug discovery & development segment dominated the market in 2022 and is expected to continue this trend during the forecast period, owing to large number of ongoing drug discovery and development activities initiated by pharmaceutical companies around the world.Â
[APPLICATIONGRAPH]
By End UserÂ
The market is segmented into pharmaceutical and biotechnology companies, clinical laboratories, and others. The pharmaceutical and biotechnology companies segment dominated the market in 2022 and is expected to continue this trend during the forecast period, owing to increase in the number of developments in the life sciences industry's related to proteomics that help in drug development process could hasten the use of protein assays even more.Â
[ENDUSERGRAPH]
By Region
The North America protein assays market forecast is expected to grow during the forecast period owing to high presence of market players who manufacture protein assay kits and reagents and increase in number of adoptions of key strategies by market players. However, the Asia-Pacific protein assay market is expected to grow during the forecast period, owing to rise in burden of cancer and chronic disease such as diabetes and neurodegenerative disorders, increase in disposable income, high population base, improvement in healthcare infrastructure, and increase in awareness regarding advantages of personalized medicine. Â
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Competition AnalysisÂ
Some of the major players that operate in the global protein assays industry include Sartorius AG, Agilent Technologies, Inc., Thermo Fisher Scientific Inc., Perkin Elmer Inc., Meril Life Sciences Pvt. Ltd., Abcam PLC, Cell Signaling Technology, Merck KGaA, Bio-Rad Laboratories Inc, and Bio-Techne. Â
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Recent Product Launch in the Protein Assays MarketÂ
In June 2023, Pixelgen Technologies, the single cell spatial proteomics company, announced the commercial launch of its first kit, based on the company's proprietary Molecular Pixelation (MPX) technology for spatial analyses of immune cell surface proteins in 3D. Â
In March 2021, Sartorius launched the new high-performance Octet R series of systems. The Octet R2 and Octet R4 can be upgraded to an Octet R4 or Octet R8, respectively, within a single service visit to achieve higher throughput. All three systems accommodate a wide range of applications and sample types required in the biologics development workflow.Â
Recent Partnership in the Protein Assays MarketÂ
In November 2021, Nautilus Biotechnology, Inc. a company pioneering a single-molecule protein analysis platform for quantifying the proteome, and Abcam a global innovator in life sciences research tools, announced a strategic development and supply partnership. The partnership first focuses on the collaborative development of affinity binding reagents for use on the Nautilus proteomic analysis system and expands to the large-scale manufacture and supply of reagents for commercialization.Â
Key Market Segments
Key Market Players