PUBLISHER: Coherent Market Insights | PRODUCT CODE: 1550551
PUBLISHER: Coherent Market Insights | PRODUCT CODE: 1550551
The Global Protein Chip Market is estimated to be valued at USD 2.23 Bn in 2024 and is expected to reach USD 3.55 Bn by 2031, exhibiting a compound annual growth rate (CAGR) of 6.9% from 2024 to 2031.
Report Coverage | Report Details | ||
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Base Year: | 2023 | Market Size in 2024: | US$ 2.23 Bn |
Historical Data for: | 2019 To 2023 | Forecast Period: | 2024 To 2031 |
Forecast Period 2024 to 2031 CAGR: | 6.90% | 2031 Value Projection: | US$ 3.55 Bn |
Protein chips are miniaturized devices that have the ability to detect and analyze thousands of protein interactions simultaneously. They work on the principle of microarray technology where known proteins, antibodies, or DNA are spotted onto a solid surface to create a microarray. These protein chips can be used for detecting expression levels of proteins, screening protein-protein interactions, monitoring protein modifications like phosphorylation and for prognosing diseases by identifying biomarkers. The global protein chip market is growing significantly owing to increasing applications of protein chips in various fields like drug discovery, disease diagnosis, and biomedical research.
The protein chip market is driven by rising investments in proteomics research, growing demand for personalized medicine and increasing R&D activities in the field of drug discovery. However, the market growth can be restricted due to technical challenges associated with maintaining the stability and activity of immobilized proteins on the chip's surface. Researchers are exploring new surface chemistries and chip manufacturing techniques to overcome these challenges. The market presents opportunities for incorporation of AI and machine learning tools to analyze large proteomics datasets generated from protein chips. Adoption of multi-omic and microfluidic-based protein chips also presents significant opportunities.
This report provides in-depth analysis of the global protein chip market, and provides market size (USD billion) and compound annual growth rate (CAGR%) for the forecast period (2024-2031), considering 2023 as the base year
It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrices for this market
This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, market trends, regional outlook, and competitive strategies adopted by key players
It profiles key players in the global protein chip market based on the following parameters - company highlights, products portfolio, key highlights, financial performance, and strategies
Key companies covered as a part of this study include Thermo Fisher Scientific, Agilent Technologies, Illumina, Inc., and Merck KGaA
Insights from this report would allow marketers and the management authorities of the companies to make informed decisions regarding their future product launches, type up-gradation, market expansion, and marketing tactics
The global protein chip market report caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts
Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the global protein chip market.
Detailed Segmentation-