Protein Assays Market Size Industry Insights, Top Trends, Drivers, Growth and Forecast to 2023
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Updated on Nov 21, 2019
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Protein assays are utilized in life science research to detect the presence of protein in a sample. There are various assays available in the market differing from each other on the basis of sensitivity, principle and methodology. The macro factors such as sample size, amount, interfering agents and reproducibility are also responsible for its quantification. Protein assays rely mostly on color change i.e. colorimetric assay and use of standard protein such as immunoglobulin G (IgG) or bovine serum albumin (BSA). Protein quantification is the most important step before separation and analysis by electrophoresis or chromatography or any other immunochemical techniques.
The use of protein assays for early diagnosis of diseases such as cancer and HIV may significantly reduce the morbidity and mortality of the disease. These assays are cost effective, facile and reproducible. Commonly used protein assay are Bradford, Lowry, BCA, and UV spectroscopic protein assays. Thus, use of assay in disease diagnosis, drug discovery and development encourages the biotechnology and pharmaceutical industry to invest in R&D, which fuels the demand of protein assays market.
Several new biomarker identification systems are launched by the key players which grants various opportunities for the global protein assay market. For instance, in June 2017, Gyros Protein Technologies AB launched a new version of its anti-drug antibody (ADA) solution for the immunogenicity market. This solution enables customers to automatically run the assays in a time-efficient manner using small volumes of patient samples and reagents, and shorten run-times.
According to a publication by Pharmaceuticals Research and Manufacturers of America (PhRMA), the organizations spent approximately $58.8 billion on R&D in 2015 accounted for the largest part of all the biopharmaceutical R&D spending in the U.S. However, high cost of multiplex assay hardware is limiting the growth of global protein assay market.
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The protein assays is segmented on the basis of type, application, product, technology and end-users.
On the basis of type, the market is segmented into copper-ion-based assays, test strip-based assays, dye-binding assays, and others
On the basis of application, market is segmented into diagnosis, drug discovery, protein purification and others
On the basis of product market is segmented into reagents & kits, instruments and others
On the basis of technology, market is segmented into colorimetric-based protein assays, fluorescence-based protein assays, and absorbance-based protein assays
On the basis of end-user, the market is segmented into hospitals & diagnostic centers, academic institutes, pharmaceutical & biotechnology companies and others.
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The global protein assays market consists of countries namely America, Europe, Asia Pacific, and the Middle East.
North America is projected to hold the largest share of the global protein assay market due to presence of superior research and development base, strong regional economics, and greater emphasis on disease prevention and wellness by governments.
The European protein assay market is expected to witness rapid growth owing to the high investment in various private and government funded research and development programs in the region and increased spending on pharmaceutical and biotechnology industry development.
Countries such as China, Japan, and India in Asia Pacific are also poised to be promising markets for protein assay in the near future. The healthcare expenditure in Asia increased due to an extension of state health care programs and the increasing affluence of the population. India is anticipated to witness an expansion in spending due to a government resolution to enhance healthcare services. Moreover, China and South Korea are striving to develop their biotechnology sector for diagnosis purpose. China’s efforts to develop its biotech sector has shown good results in sectors such as vaccines and biological products and the same can be expected in the protein assays industry. However, low research and development (R&D) yields, high infrastructure cost, stringent regulatory framework, and lack of trained resources are some of the restraints of the protein assay market.
The Middle East region is expected to grow at a faster rate due to the factors such as the extensive development of health care infrastructure and growing emphasis on research and development in the health care sector.
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Many new companies have jumped into the market in order to make the most out of the opportunities. Companies are implementing the strategies of mergers and acquisitions with other players. For instance, in June 2015, Thermo Fisher Scientific Inc. introduced the Orbitrap Fusion Lumos Tribrid mass spectrometer and updated the device in 2017.
Some of key the players in the global protein assays market are GE Healthcare (U.S.), Thermo Fisher Scientific (U.S.), Bio-Rad Laboratories Inc. (U.S.), Merck KGaA (Germany), Cell Signaling Technology Inc. (U.S.), Abcam plc (U.S.), Lucigen Corporation (U.S.), PerkinElmer Inc. (U.S.), QIAGEN (Germany), Lonza Group Ltd. (Switerzland), Bio-Techne (U.S.), BioVision Inc. (U.S.), Illumina Inc. (U.S.), New England Biolabs (U.S.), Takara Bio Inc. (Japan), Promega Corporation (U.S.), F. Hoffmann-La Roche Ltd (Switerzland), and others.