Protein Assays Market: Insights
Protein assays are useful for detailed mechanistic studies of a target protein, bioanalytical measurements, and high-throughput screening. Assays have diverse applications such as analysis of enzyme activities, nucleic acid-protein interactions, protein-protein interactions, and small molecule binding to proteins. Depending on the accuracy required and the amount and purity of the protein available, different methods are appropriate for determining protein concentration.
Initiatives such as study of genomics and proteomics in biotechnology and pharmaceutical industries is expected to fuel growth of the protein assay market. For instance, according to the data published in July 2017 issue of Neurology Genetics —an official journal of the American Academy of Neurology — researchers at New York Genome Center have reported strong potential of IBM Watson for Genomics that analyzes complex genomic data to help clinicians with precision medicine. Diagnostic and prognostic assays aid in early diagnosis of diseases thus, helping in offering right treatment. This is expected to drive growth of the protein assay market. Furthermore, continuous collaboration among protein assays manufacturers for various applications in clinical and translational research is also expected to lead to rapid growth of the market over the forecast period. For instance, in August 2017, Abcam and TTP Labtech entered into collaboration to develop reagent kits for quantification of secreted proteins in multiplexed screening assays, which enable to deliver data driven decisions faster.
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Rise in R&D activities by private and public companies is expected to drive growth of the protein assays market
Protein assays market is witnessing high growth owing to favorable public-private investment for proteomics research and increasing pharmaceutical & biotech R&D expenditure for diagnosis of diseases such as cancer and HIV. Prognostic and diagnostic assays help in early diagnosis and are cost effective, reproducible, and simple. Thus assay usage in disease diagnosis, drug discovery, and development encourages biotechnology and biopharmaceutical players to invest in research and development, which fuels growth of the protein assays market. In 2015, According to a publication by Pharmaceuticals Research and Manufacturers of America (PhRMA) — a trade group representing companies in the pharmaceutical industry in the U.S.— the member organizations (pharmaceutical companies) of PhRMA invested around US$ 58.8 billion on R&D, accounting for the largest of all the biopharmaceutical R&D spending in the U.S, in 2015. Rising demand for protein quantification in laboratories for activities ranging from protein characterization to clinical diagnostic testing and drug dosing is also anticipated to propel growth of the market in the near future. However, lack of reimbursement and high costs associated with tests may hinder growth of the protein assay market over the forecast period. Medicare is a single-payer that provides insurance coverage only for services that are considered reasonable and necessary in the diagnosis or treatment of disease. Therefore, services which are just meant for research purpose and not for patient benefit are not being reimbursed by Medicare. This is attributed to highly complex entities of proteins that require set of rules for approval of biotherapeutic.
Increasing advancements in techniques of protein assays to link biologic function and proteins is a prominent factor to fuelling growth of the protein assay market
Advancements in technology and techniques for linking biologic function and proteins in protein assay, for example, yeast two-hybrid system and mammalian two-hybrid system for studying the inter-protein interactions by gel shift assay are expected to aid in market growth. Furthermore, ELISA, protein-chip technology, mass spectroscopy, and one- or two- dimensional gel electrophoresis are instruments witnessing continuous advancements. Furthermore, proteomic studies for identifying the mechanism of physical and chemical degradation pathways of biologics, are anticipated to propel demand for protein assays.
North America held the largest market share, followed by Europe in 2016, owing to increasing incidence of various diseases, well-established healthcare framework, and presence of major key players. In 2014, According to Centers for Disease Control and Prevention, 215,951 people in the U.S. were diagnosed with lung cancer due to which lung cancer remains the leading cause of cancer related mortality in the U.S. The market in Asia Pacific is also expected to witness substantial growth due to increasing initiatives for novel drug screening and development and setting up of in-house manufacturing facilities by key players. For instance, in 2017, Thermo Fisher Scientific announced a Asia Precision Medicine research array for regional screening initiatives, which has reduced cost and complexity of analysis that is associated with whole genome sequencing to help the research of diseases in the Asians, which is expected to favor the growth of Asia Pacific region in near future.
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Companies are entering into collaborations to develop high quality assays for various applications. For instance, in August 2017, Abcam and TTP Labtech entered into collaboration to develop reagent kits for quantification of secreted proteins in multiplexed screening assays, which enable to deliver data driven decisions faster.
Key companies in the protein assay market include Thermo Fisher Scientific Inc., GE Healthcare, Merck KGaA, Bio-Rad Laboratories, Inc., Lonza, Abcam plc, PerkinElmer Inc., Bio-Techne, BioVision Inc., Cell Signaling Technology, Inc., and Geno Technology Inc.
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