Protein Assays Global Market Report 2024

Protein assay refers to the process of determining how much or how many distinct proteins there are in a sample, depending on the case. Many clinical and research procedures include the isolation and detection of proteins. The protein assay is used to quantify the presence of a particular protein, or a variety of proteins, in a sample.

Protein assays encompass two primary product types reagents and kits, and instruments. Reagents, substances chosen for their chemical or biological action, are utilized in manufacturing, image development, or component detection. Protein assays employ various technologies, including absorbance-based, colorimetric, and fluorescence-based methods. These assays find applications in diverse industries such as pharmaceuticals, biotechnology, clinical laboratories, hospitals, and academic research institutes.

The protein assays market research report is one of a series of new reports from The Business Research Company that provides protein assays market statistics, including protein assays industry global market size, regional shares, competitors with a protein assays market share, detailed protein assays market segments, market trends and opportunities, and any further data you may need to thrive in the protein assays industry. This protein assays market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The protein assays market size has grown rapidly in recent years. It will grow from $2.53 billion in 2023 to $2.88 billion in 2024 at a compound annual growth rate (CAGR) of 14.0%. The growth observed in the historic period can be attributed to several factors, including advancements in proteomic research, intensified activities in drug discovery and development, progress in biotechnology and life sciences research, a heightened prevalence of chronic diseases, and a growing adoption of personalized medicine.

The protein assays market size is expected to see rapid growth in the next few years. It will grow to $4.92 billion in 2028 at a compound annual growth rate (CAGR) of 14.4%. The anticipated growth in the forecast period can be attributed to the expanding applications in clinical diagnostics, a growing emphasis on biomarker discovery, increasing relevance in biopharmaceutical production and quality control, technological integration in research platforms, and a rise in proteomic profiling for personalized therapies. Key trends expected in the forecast period include the increased use of proteomics in drug discovery, the development of high-sensitivity assay kits, a focus on standardization and assay reproducibility, the integration of proteomic data with other omics data, and the expansion of protein assays in clinical diagnostics.

The anticipated rapid development of healthcare infrastructure is poised to drive the protein assay market in the future. Healthcare infrastructure encompasses advanced equipment, specialized medical personnel such as doctors and nurses, and well-established pharmaceutical enterprises. Protein assays play a crucial role in diagnosing various conditions, including kidney and cardiovascular diseases, as well as cancers. The growth of healthcare infrastructure, as indicated by an increase in health spending as a percentage of GDP, is a key driver for the protein assay market. For instance, according to a report by the Organization for Economic Co-operation and Development (OECD) in November 2022, health spending across OECD countries rose from 8.8% of GDP in 2019 to 9.7% in 2020, and preliminary projections for 2021 suggested a 6% growth in health spending for a group of 20 OECD nations. Thus, the rapid development of healthcare infrastructure contributes significantly to the protein assay market's growth.

The increasing prevalence of chronic diseases is another factor propelling the growth of the protein assay market. Chronic diseases, characterized by lasting a year or longer and requiring continuous medical care, are on the rise. Conditions such as cancer and neurodegenerative disorders are driving the demand for protein assays, which are crucial for biomarker identification and understanding diseases. As projected by the National Center for Biotechnology Information (NCBI) in January 2023, the number of individuals aged 50 years and older with at least one chronic illness is expected to increase by 99.5%, reaching 142.66 million by 2050, up from 71.522 million in 2020. Consequently, the increasing prevalence of chronic diseases contributes significantly to the growth of the protein assay market.

Major players in the protein assay market are directing their efforts towards the creation of innovative solutions, such as 3D spatial analysis kits. These kits, encompassing tools, software, and resources, are tailored for the examination and visualization of spatial data in three dimensions. For instance, in June 2023, Pixelgen Technologies AB, a biotechnology company based in Sweden, introduced the 'Pixelgen Single Cell Spatial Proteomics Kit.' Grounded in MPX technology, this kit has the potential to significantly enhance the understanding of cellular activity. It aims to drive advancements in scientific knowledge, expedite drug discovery and development processes, and enhance diagnostic capabilities. The initial release of the Pixelgen SCSP Kit includes 76 protein assays and 4 controls for simultaneous testing.

Leading companies in the protein assay sector are channeling their focus into the development of innovative solutions, such as high-plex proteomics platforms. These platforms, constituting proteomic technologies or systems, enable the simultaneous analysis of a high number of proteins in a single experiment. For instance, in November 2023, SomaLogic Inc., a US-based proteomics technology company, launched the 'somaScan 11K Platform.' This platform provides 11,000 total protein measurements, offering researchers a significant advantage in uncovering biomarkers and identifying potential drug targets for translational medicine. The addition of 3,500 proteins to the 11K assay is anticipated to reveal new biomarkers previously beyond measurement, potentially contributing to the development of diagnostics with heightened accuracy.

In October 2021, Abcam PLC, a UK-based provider of diagnostic and therapeutic applications, completed the acquisition of Biovision Inc. for USD 340 million. This strategic move strengthens Abcam's internal innovation and expands its scale to support cellular assays and biochemical assays markets. The acquisition grants Abcam access to BioVision's product line, capabilities, and a team of 70 experts in manufacturing and development. BioVision Inc., based in the US, is known for its diverse offerings, including assay kits, antibodies, recombinant proteins, and enzymes.

Major companies operating in the protein assays market report are Pfizer Inc., Johnson & Johnson, General Electric Company, F. Hoffmann-La Roche AG, AstraZeneca PLC, Thermo Fisher Scientific Inc., Roche Diagnostics International AG, Takeda Pharmaceutical Company Limited, Danaher Corporation, Eli Lilly and Company, Merck KGaA, Siemens Healthineers AG, R&D Systems Inc., Lonza Group AG, PerkinElmer Inc., Bio-Rad Laboratories Inc., Takara Bio Inc., Qiagen N.V., Promega Corporation, Abcam PLC, Cell Signaling Technology Inc., BioVision Inc., Cayman Chemical Company, Enzo Life Sciences Inc., Novus Biologicals LLC, Abnova Corporation, Elabscience Biotechnology Co. Ltd., Geno Technology Inc., Cytoskeleton Inc., Lexicon Pharmaceuticals Inc.

North America was the largest region in the protein assays market in 2023. Asia-Pacific is expected to be the fastest-growing region in the global protein assays market report during the forecast period. The regions covered in the protein assays market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

The countries covered in the protein assays market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The protein assay services market includes revenues earned by entities by providing different protein quantitation methods such as enzyme-linked immunosorbent assay (ELISA), western blot analysis, and more recently, mass spectrometry, among others. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

Protein Assays Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.

This report focuses on protein assays market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.

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Where is the largest and fastest growing market for protein assays ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The protein assays market global report from the Business Research Company answers all these questions and many more.

The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.

• The market characteristics section of the report defines and explains the market.
• The market size section gives the market size ($b) covering both the historic growth of the market, and forecasting its development.
• The forecasts are made after considering the major factors currently impacting the market. These include:

The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.

The impact of higher inflation in many countries and the resulting spike in interest rates.

The continued but declining impact of covid 19 on supply chains and consumption patterns.

• Market segmentations break down the market into sub markets.
• The regional and country breakdowns section gives an analysis of the market in each geography and the size of the market by geography and compares their historic and forecast growth. It covers the growth trajectory of COVID-19 for all regions, key developed countries and major emerging markets.
• The competitive landscape chapter gives a description of the competitive nature of the market, market shares, and a description of the leading companies. Key financial deals which have shaped the market in recent years are identified.
• The trends and strategies section analyses the shape of the market as it emerges from the crisis and suggests how companies can grow as the market recovers.

Scope

Markets Covered:

• 1) By Product Type: Reagents And Kits; Instruments
• 2) By Technology Type: Absorbance Based Protein Assays; Colorimetric Protein Assays; Fluorescence Based Protein Assays
• 3) By End User: Pharmaceutical Industry; Biotechnology Industry; Clinical Laboratories; Hospitals; Academic Research Institutes
• Companies Mentioned: Pfizer Inc.; Johnson & Johnson; General Electric Company; F. Hoffmann-La Roche AG; AstraZeneca plc
• Countries: Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Russia; South Korea; UK; USA; Canada; Italy; Spain
• Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
• Time series: Five years historic and ten years forecast.
• Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita,
• Data segmentations: country and regional historic and forecast data, market share of competitors, market segments.
• Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.
• Delivery format: PDF, Word and Excel Data Dashboard.