Solubilized protein concentration is measured with protein assays. Proteins can be measured, isolated, and analyzed using a wide variety of biochemical techniques. Chemical compatibility with assay sample buffer components is an important consideration when choosing a protein assay from the many available. In recent years, consumers have shown a growing preference for drugs and ingredients that meet the highest standards of superiority and care. Because of this, the fields of molecular biology and genetic engineering have advanced quickly in recent years.
Protein assays can be used in numerous remedial contexts, including protein purification, molecular biology, cell biology, electrophoresis, and other scientific studies. Increased demand for novel technologies and advanced protein analysis methods for therapeutic drug discovery is anticipated to drive rapid expansion of the market for protein assays in the predicted period, thanks to the rapidly expanding applications of proteomics and protein analysis.
As of 2022, the market for protein assay worldwide is predicted to be worth $2,173.5 Mn, expanding at a CAGR of 7.8% in the predicted period (2022-2030).
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Growth in the protein assays market is anticipated to be driven by the launch of fresh offerings by industry leaders in the coming years
In 2020, for example, the biotech firm NanoString Technologies, Inc. introduced GeoMx DSP Protein Assays for next-generation sequencing (NGS).
In addition, in March of 2022, the leading proteomics company Biognosys introduced proteomics platforms to the research and development sectors of the diagnostic and pharmaceutical industries.
During the forecast period, the market is expected to grow as a result of key players’ increasing reliance on inorganic growth strategies, like merger and acquisition, to fuel the advancement of protein assays
In July 2021, for example, pharmaceutical giant Eli Lilly and Company bought biotechnology firm Protomer Technologies. The molecules that can detect glucose or other endogenous modulators of protein activity are identified and synthesized by the protomer Technology Company using a proprietary peptide- and protein-engineering platform.
Market for protein assay worldwide – Impact of Coronavirus (COVID-19) Pandemic
Over a hundred countries have reported cases of COVID-19 virus infection since the outbreak in December 2019, and on January 30, 2020, the World Health Organization declared the situation a global public health emergency.
There are three primary ways in which the COVID-19 can impact the economy: through changes in drug production and demand, disruptions in distribution networks, and monetary effects on businesses and the financial markets. Problems have arisen with the transport of drugs in several countries because of nationwide lockdowns. These include China, India, Saudi Arabia, the United Arab Emirates, Egypt, and others.
However, the worldwide market for protein assays benefited from the COVID-19 pandemic. If we take the World Health Organization (WHO) as an example, as of February 2021, the protein-based fluorescence lateral flow assay (LFA) test platform has been the most actively pursued method for developing antigen tests. It is advantageous to administer the protein-based fluorescence lateral flow assay (LFA) test because it provides results rapidly, can be done at the point-of-care at a lower cost, and does not necessitate the expertise of a laboratory technician. SARS coronavirus type 2 (CoV-2) infections and COVID-19 asymptomatic carriers can both be detected quickly and accurately with this method.
Market for protein assay worldwide: Key Developments
Two assay kits, AlphaLISA and homogeneous time-resolved fluorescence (HTRF), were released by the medical life science company PerkinElmer, Inc. in April 2022. These kits allow for the simple and rapid identification and measurement of Chinese hamster ovary (CHO) host cell protein (HCP) residues during the production of biopharmaceuticals. Drug potency, stability, and efficacy can all be improved through the elimination of undesired Chinese hamster ovary (CHO) host cell protein (HCP) impurities.
Market for protein assay worldwide: Restraints
Shortage of reimbursement and high expenses linked with tests are the main factors that restrain the expansion of the market for protein assay worldwide. Medicare, as a single-payer system, covers only medically necessary care for the prevention, diagnosis, and treatment of illness. Therefore, Medicare will not pay for services that are provided solely for the purpose of research and not for the benefit of the patient.
The chief companies participating in the market for protein assay worldwide 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.
|The market size value in 2023|
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Table of Contents with Major Points:
- Key Findings
- Definitions and Assumptions
- Definition of Protein Assay Market
- Market Dynamics
- Trends and Developments
- Key Emerging Trends
- Key Developments Mergers and Acquisition
- New Product Launches and Collaboration
- Partnership and Joint Venture
- Latest Technological Advancements
- Insights on Regulatory Scenario
- Porters Five Forces Analysis
Qualitative Insights Impact of COVID-19 on Global Protein Assay Market
- Supply Chain Challenges
- Steps taken by Government/Companies to overcome this impact
- Potential opportunities due to COVID-19 outbreak
- Data Sources
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