Protein Assays Market Poised to Take Off by 2025
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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The global protein assays market was valued at US$ 1,384.7 million in 2016 and is expected to register a CAGR of 11.5% over the forecast period (2017–2025).
Protein assays are used to determine the concentration of solubilized protein. Various biochemical methods are available for quantification, isolation, and analysis of proteins. The selection among available protein assays is based on factors such as its chemical compatibility with buffer components of the samples to be assayed. The recent past has witnessed an increasing inclination of end users towards high quality and safety for drugs and its ingredients. This has led to rapid advancements in molecular biology and genetic engineering. These advancements are expected to fuel adoption of protein assays technology over the forecast period (2017–2025). Protein assays have different restorative applications such as protein purification, electrophoresis, cell biology, molecular biology, and other research applications. Dynamic developments in protein analysis and proteomics is intended to increase the demand for new technologies and sophisticated analytical techniques to characterize therapeutic proteins, which is expected to result in significant growth of the protein assays market over the forecast period.
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.
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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.
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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