Market Size of Global Protein Assays Industry
Study Period | 2019 - 2029 |
Market Size (2024) | USD 2.03 Billion |
Market Size (2029) | USD 3.53 Billion |
CAGR (2024 - 2029) | 11.73 % |
Fastest Growing Market | Asia Pacific |
Largest Market | North America |
Major Players*Disclaimer: Major Players sorted in no particular order |
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Protein Assays Market Analysis
The Global Protein Assays Market size is estimated at USD 2.03 billion in 2024, and is expected to reach USD 3.53 billion by 2029, growing at a CAGR of 11.73% during the forecast period (2024-2029).
The emergence of the COVID-19 pandemic in 2020 had a severe impact on the global healthcare market as the lockdown implemented by the respective governments across the globe to curb the spread of COVID-19 not only affected the daily life of people but also affected the supply chain of pharmaceuticals, medical devices, diagnostic products, and other healthcare products. Further, due to COVID-19, the footfall in hospitals, clinics, and diagnostics centers decreased for diseases other than COVID-19 which had an impact on the protein assays market. However, protein assays played a significant role in understanding the mechanism of the virus, and many research and development activities were conducted and being conducted with the help of protein assays which is anticipated to have a positive impact on the protein assay market. For instance, as per a research study published by Cassandra Guarino et. al., in January 2022, a serological COVID-19 Multiplex Assay was developed and validated using serum samples from convalescent patients and those collected prior to the 2020 pandemic, and as per the study, after initial testing of multiple potential antigens, the SARS-CoV-2 nucleocapsid protein (NP) and receptor-binding domain (RBD) of the spike protein were selected for the human COVID-19 Multiplex Assay and the COVID-19 Multiplex Assay was utilized to identify seroprevalence to SARS-CoV-2 in people living in a low-incidence community in New York, United States. Thus, the protein assay market is expected to regain its full potential over the forecast period of the study owing to ongoing research and development activities in the area coupled with the large-scale vaccination program around the world.
The rapid increase in the prevalence of chronic diseases such as cancer, cardiovascular diseases, diabetes, and others coupled with the technological innovations and advancement in the protein assay technique are expected to be significant growth factors for the protein assay market during the forecast period of the study. For instance, according to a World Health Organization (WHO) update from April 2021, noncommunicable diseases (NCDs) are responsible for death of about 41 million people each year, accounting for 71 percent of all deaths worldwide, and more than 15 million people die from an NCD between the ages of 30 and 69, with 85 percent of these "premature" deaths occurring in low- and middle-income countries. Further, according to the 2020 report of the International Agency for Research on Cancer (Globocan 2020), there was about 19.3 million new cancer cases diagnosed globally in 2020 and this number is projected to increase to 28.9 million new cases by 2040.Hence, due to high prevalence of chronic diseases and mortality from it, the demand for protein assays is expected to increase significantly for different applications such as drug discovery and development, disease screening and diagnosis, and others, which will boost growth in the studied market. in addition, the research studies being conducted in the area along with the technological advancements in the protein assay technology are also expected to augment the growth of the protein assay market. For instance, as per a February 2022 published article, 'Opto-Microfluidic Integration of the Bradford Protein Assay in Lithium Niobate Lab-on-a-Chip', A new protocol is proposed to perform the protein quantification based on the high correlation of the light absorbance at 595 nm, as commonly used in the Bradford method, with the one achieved at 633 nm with a cheap commercially available diode laser. This protocol demonstrates the possibility to quantify proteins by using nL volumes, 1000 times less than the standard technique such as paper-analytical devices. Moreover, it shows a limit of quantification of at least 0.12 mg/mL, which is four times lower than the last literature, as well as a better accuracy (98%). The proposed methodology presents the further advantage that the protein solutions and opto-microfluidic platform can be reused for other investigations, and open opportunity of growth for the protein assays market.
Further, the growing burden of chronic diseases around the world is boosting investment in the pharmaceutical and biological research and development activities which is further expected to have a significant impact on the growth of the studied market. For instance, according to a report published by the Pharmaceutical Research and Manufacturers of America (PhRMA) in September 2021, biopharmaceutical companies have invested more than a trillion dollars in research and development in the last decade alone, including a record-breaking year in 2020, when PhRMA member companies alone invested about USD 91 billion in research and development. Further, as per the same source, there were more than 8,000 medicines in development around the world in 2021, with 74 percent of them having the potential to be first-in-class treatments, or completely novel ways to treating a disease. Thus, huge investment in the pharmaceutical and biological research and development activities are further expected to compliment the growth of the protein assay market over the forecast period of the study. However, the high cost of protein assays equipment, along with consumables and reagents required for protein analysis, are expected to restrain the growth of the protein assays market during the forecast period of the study.
Protein Assays Industry Segmentation
As per the scope of the report, protein assays are widely used to determine the presence or concentration of a specific protein or an array of different proteins in a sample. Cell biology, molecular biology, protein purification, electrophoresis, and other scientific applications all require estimation of protein concentration where protein assays are used.
The protein assay market is segmented by product type (kits, reagents, and instruments and accessories), by application (drug discovery and development, disease diagnosis, and other applications), by end user (pharmaceutical and biotechnology industries, hospitals and clinics, and other end users), and by geography (North America, Europe, Asia-Pacific, Middle East and Africa, and South America). The market report also covers the estimated market sizes and trends for 17 different countries across major regions globally. The report offers the value (in USD million) for the above segments.
By Product Type | |
Kits | |
Reagents | |
Instruments and Accessories |
By Application | |
Drug Discovery and Development | |
Disease Diagnosis | |
Other Applications |
By End User | |
Pharmaceutical and Biotechnology Industries | |
Hospitals and Clinics | |
Other End Users |
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Global Protein Assays Market Size Summary
The protein assays market is poised for significant growth over the forecast period, driven by the increasing prevalence of chronic diseases and advancements in protein assay technologies. The market's expansion is supported by the critical role protein assays played during the COVID-19 pandemic, aiding in understanding the virus's mechanisms and contributing to ongoing research and development activities. The demand for protein assays is expected to rise in various applications, including drug discovery, disease screening, and diagnosis, as the burden of chronic diseases like cancer and cardiovascular conditions continues to grow. Technological innovations, such as the integration of opto-microfluidic systems for protein quantification, further enhance the market's growth prospects by offering more efficient and cost-effective solutions.
Geographically, North America is anticipated to hold a significant share of the protein assays market, bolstered by its robust pharmaceutical industry and substantial investments in drug development. The region's healthcare infrastructure and high prevalence of chronic diseases contribute to the increased demand for protein assays. The market is characterized by intense competition, with major players like Thermo Fisher Scientific and Bio-Rad Laboratories leading the charge. Strategic activities, including product launches and partnerships, are expected to further drive market growth. The United States, in particular, is set to experience substantial market expansion due to its focus on drug discovery and development, supported by significant research and development expenditures from leading pharmaceutical companies.
Global Protein Assays Market Size - Table of Contents
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1. MARKET DYNAMICS
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1.1 Market Overview
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1.2 Market Drivers
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1.2.1 Increasing Incidence of Chronic and Infectious Diseases
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1.2.2 Technological Advancements in Protein Assay Techniques
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1.2.3 Increasing Expenditure on Pharmaceutical and Biological Research and Development
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1.3 Market Restraints
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1.3.1 High Cost of Multiplex Assay Equipment
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1.4 Porter's Five Forces Analysis
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1.4.1 Threat of New Entrants
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1.4.2 Bargaining Power of Buyers/Consumers
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1.4.3 Bargaining Power of Suppliers
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1.4.4 Threat of Substitute Products
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1.4.5 Intensity of Competitive Rivalry
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2. MARKET SEGMENTATION (Market Size by Value in USD Million)
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2.1 By Product Type
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2.1.1 Kits
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2.1.2 Reagents
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2.1.3 Instruments and Accessories
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2.2 By Application
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2.2.1 Drug Discovery and Development
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2.2.2 Disease Diagnosis
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2.2.3 Other Applications
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2.3 By End User
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2.3.1 Pharmaceutical and Biotechnology Industries
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2.3.2 Hospitals and Clinics
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2.3.3 Other End Users
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2.4 Geography
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2.4.1 North America
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2.4.1.1 United States
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2.4.1.2 Canada
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2.4.1.3 Mexico
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2.4.2 Europe
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2.4.2.1 Germany
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2.4.2.2 United Kingdom
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2.4.2.3 France
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2.4.2.4 Italy
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2.4.2.5 Spain
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2.4.2.6 Rest of Europe
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2.4.3 Asia-Pacific
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2.4.3.1 China
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2.4.3.2 Japan
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2.4.3.3 India
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2.4.3.4 Australia
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2.4.3.5 South Korea
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2.4.3.6 Rest of Asia-Pacific
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2.4.4 Middle-East and Africa
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2.4.4.1 GCC
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2.4.4.2 South Africa
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2.4.4.3 Rest of Middle-East and Africa
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2.4.5 South America
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2.4.5.1 Brazil
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2.4.5.2 Argentina
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2.4.5.3 Rest of South America
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Global Protein Assays Market Size FAQs
How big is the Global Protein Assays Market?
The Global Protein Assays Market size is expected to reach USD 2.03 billion in 2024 and grow at a CAGR of 11.73% to reach USD 3.53 billion by 2029.
What is the current Global Protein Assays Market size?
In 2024, the Global Protein Assays Market size is expected to reach USD 2.03 billion.