PUBLISHER: The Business Research Company | PRODUCT CODE: 1527109
PUBLISHER: The Business Research Company | PRODUCT CODE: 1527109
A protein chip serves as a high-throughput analytical instrument employed for the comprehensive examination and assessment of protein interactions, functions, and activities on a large scale. Its operation entails several steps, including the immobilization of proteins onto a solid surface, the probing with samples or molecules of interest, and the subsequent detection and analysis of the ensuing interactions or signals.
The primary offerings within the protein chip market encompass lab-on-chip systems, integrated setups, arrayers, and microarray systems. Lab-on-chip technology effectively condenses and merges multiple laboratory functionalities onto a singular chip, facilitating the swift and effective analysis of biological specimens. This technology encompasses a range of methodologies such as analytical microarrays, functional protein microarrays, and reverse phase protein microarrays, all of which find application in diverse fields including diagnostics, proteomics, and antibody characterization. These solutions cater to a broad spectrum of end-users, including hospitals and clinics, academic and research institutions, diagnostic laboratories, as well as pharmaceutical and biotechnology enterprises.
The protein chip market research report is one of a series of new reports from The Business Research Company that provides protein chip market statistics, including the protein chip industry global market size, regional shares, competitors with a protein chip market share, detailed protein chip market segments, market trends, and opportunities, and any further data you may need to thrive in the protein chip industry. This protein chip research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.
The protein chip market size has grown strongly in recent years. It will grow from $1.50 billion in 2023 to $1.61 billion in 2024 at a compound annual growth rate (CAGR) of 7.5%. The growth observed in the historical period can be credited to several factors, including the advancement of proteomics research, an increase in cancer incidence rates, technological advancements, wider utilization in clinical diagnostics, a heightened emphasis on biomarker discovery, and a rising demand for high-throughput protein analysis.
The protein chip market size is expected to see strong growth in the next few years. It will grow to $2.16 billion in 2028 at a compound annual growth rate (CAGR) of 7.6%. The anticipated growth in the forecast period can be attributed to various factors such as the escalating demand for personalized medicine, advancements in next-generation protein chip technologies, integration with omics technologies, adoption in emerging markets, and a shift towards digital health and wearable devices. Noteworthy trends projected for the forecast period encompass miniaturization and multiplexing, integration with artificial intelligence (AI) and machine learning, applications in point-of-care testing (POCT), expansion into new disease domains, and an emphasis on customization and personalization.
The protein chip market is poised for growth due to the increasing demand for personalized medicine, which involves tailoring medications and interventions to meet individual patient needs. This approach has gained prominence thanks to advancements in 'omics' technology, genetics, and data integration, emphasizing the importance of personalized treatments and preventive measures. Protein chips play a crucial role in advancing personalized medicine by enabling comprehensive proteomic analysis, aiding biomarker discovery, enhancing drug development understanding, and facilitating the creation of personalized therapeutic strategies. For example, as of October 2022, the Personalized Medicine Coalition reported over 75,000 genetic testing products and 300 personalized medicines available for various conditions, including cancer, rare diseases, and chronic illnesses. Additionally, in 2022, 12 new customized medications were approved, representing 34% of all newly approved treatments, according to the same organization. Consequently, the growing demand for personalized medicine is a key driver for the expansion of the protein chip market.
Leading companies in the protein chip market are focusing on product innovation to strengthen their market position. One such innovation is the development of automated parallel capillary electrophoresis systems, which are advanced instruments for high-throughput separation and analysis of biomolecules such as proteins and nucleic acids. For instance, in January 2024, Agilent Technologies Inc. launched the ProteoAnalyzer system, an automated parallel capillary electrophoresis device designed for protein analysis. This system features state-of-the-art algorithms for precise protein identification and characterization, enabling researchers to explore complex biological systems with unparalleled accuracy and efficiency. It also offers enhanced data visualization tools for intuitive result interpretation and seamless integration with existing workflows, ensuring smooth adoption and increased productivity in proteomics laboratories.
In March 2023, Spectrum Solutions LLC acquired MDx Lab Alimetrix and Array Maker Microarrays Inc., aiming to expand its portfolio of laboratory products and testing capabilities. This acquisition strengthens Spectrum's position in the diagnostics market, with Array Maker Microarrays Inc. providing protein and DNA microarray assays using microarray technology for gene identification.
Major companies operating in the protein chip market are Thermo Fisher Scientific Inc., GE Healthcare LLC, Roche Diagnostics GmbH, Agilent Technologies Inc., Illumina Inc., Sigma-Aldrich Corporation (Merck), PerkinElmer Inc., Shimadzu Corporation, Bio-Rad Laboratories Inc., Bruker Corporation, Surmodics Inc., Quotient Limited, OriGene Technologies Inc., RayBiotch Inc., Sengenics Corporation Pte Ltd., Gyros Protein Technologies AB, Innova Biosciences Limited, Innopsys S.A., CDI Laboratories Inc., Microarrays Inc., Full Moon BioSystems Inc., Arrayit Corporation, Biotech Support Group LLC
North America was the largest region in the global protein chip market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the protein chip market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the protein chip market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The protein chip market includes revenues earned by entities by providing services such as protein expression profiling, biomarker discovery, post-translational modification (PTM) analysis, quantitative and qualitative proteomics, and enzyme activity assays. The market value includes the value of related goods sold by the service provider or included within the service offering. The protein chip market consists of sales of antibody arrays, protein arrays, peptide arrays, and full moon biosystems protein arrays. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
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 Chip 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 chip 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.
Where is the largest and fastest growing market for protein chip ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The protein chip 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 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.