PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1515558
PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1515558
Protein Chip Market size was valued at USD 2,251.2 Million in 2023, expanding at a CAGR of 6.9% from 2024 to 2032.
Protein chips, also known as protein microarrays, are miniature parallel assay systems that hold small amounts of pure proteins in a high-density format. They allow the simultaneous determination of a wide range of analytes from small volumes of samples in a single experiment.
Protein Chip Market- Market Dynamics
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Protein Chip Market- Key Insights
As per the analysis shared by our research analyst, the global market is estimated to grow annually at a CAGR of around 6.9% over the forecast period (2024-2032)
Based on Type segmentation, Analytical microarrays were predicted to show maximum market share in the year 2023
Based on application segmentation, Antibody Characterization was the leading type in 2023
On the basis of region, North America was the leading revenue generator in 2023
The Global Protein Chip Market is segmented on the basis of Type, Application, End-use, and Region.
The market is divided into three categories based on Type: Analytical Microarrays, Functional Protein Microarrays and Reverse Phase Protein Microarrays. Analytical microarrays dominated the market in 2023, with the highest revenue share, and are expected to increase at the quickest CAGR over the forecast period. This is due to the increasing technical breakthroughs. These platforms have high throughput capabilities, allowing for the study of hundreds of proteins in a single experiment. Microarray technology continues to evolve, with greater sensitivity, resolution, and multiplexing capabilities, making it highly appealing to researchers and practitioners.
The market is divided into four categories based on application: Antibody Characterization, Clinical Diagnostics, Proteomics and Others. In 2023, the antibody segment held the highest revenue share in the market. Characterization of antibodies is essential for a number of biological studies and medical applications. It's critical to the development of antibody-based therapies, immunodiagnostics, protein interaction investigations, illness diagnosis, and biomarker identification. Antibody characterization applications are widely used in several sectors, which makes them a valuable commodity in the global market.
Protein Chip Market- Geographical Insights
Geographically, this market is widespread into the regions of North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa. These regions are further divided as per the nations bringing business. In 2023, North America dominated the protein chip market in terms of revenue share. The existence of prominent biotechnology and pharmaceutical businesses, strong research and academic infrastructure, and early adoption of breakthrough technologies all contribute to the market's growth. Furthermore, large resources are allocated to research and development (R&D) activities in the life sciences sector, such as proteomics and biotechnology.
Throughout the forecast period, the protein chip market in Asia Pacific is expected to develop at the quickest CAGR. The biotechnology and pharmaceutical industries are growing significantly in the region, mostly due to reasons including rising healthcare costs, an increase in the frequency of chronic illnesses, and an expansion of research and development activities. Advanced technologies such as protein chips are becoming more and more in demand as biotechnology and pharmaceutical companies in the region look to improve their skills in drug discovery, customized medicine, and diagnostics.
Sengenics (US), Thermo Fisher Scientific Inc (US), Microarrays Inc (US), Agilent Technologies Inc (US), CDI Laboratories Inc (US), OriGene Technologies Inc (US), and Innopsys (France) are among the major protein chip market players investing in R&D to increase demand. Market participants are expanding their presence through strategic actions such as new product releases, contracts, mergers and acquisitions, increased investments, and collaboration with other businesses. To expand and survive in a more competitive and growing market, the protein chip business must provide cost-effective products.
In January 2024, Agilent Technologies announced the release of the ProteoAnalyzer system, a new automated parallel capillary electrophoresis technology for protein analysis. This innovative platform improves efficiency and simplifies the analysis of complex protein mixtures, a critical step in analytical workflows spanning the pharmaceutical, biotechnology, food analysis, and academic sectors.
GLOBAL PROTEIN CHIP MARKET KEY PLAYERS- DETAILED COMPETITIVE INSIGHTS
Agilent Technologies, Inc.
PerkinElmer
Bio-Rad Laboratories
Thermo Fisher Scientific Inc.
Sigma-Aldrich Corporation
Illumina, Inc.
Shimadzu Corporation
Roche Diagnostics
RayBiotch
Danaher
Others