Global Protein Assays Market UpComing Developments, Clinical Aspects, Growth Challenges, Future Opportunities 2025 GE Healthcare, Thermo Fisher Scientific Inc., Merck KgaA, Lonza, Abcam plc,PerkinElmer Inc., Bio-Techne, BioVision Inc.
The global protein assays market was valued at US$ 1,503.7 million in 2016 and is expected to register a CAGR of 7.6% over the forecast period (2017–2025).
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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.
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.
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.
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.
Global Key Players:
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.
• BioVision Inc.
• Cell Signaling Technology, Inc.
• Geno Technology Inc.
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• Global Protein Assays Market, By Product Type:
◦ Reagents and Kits
▪ Dye Binding Assays
▪ Copper-Ion based Assays
▪ Test Strip based Assays
▪ Other Protein Assays
• Global Protein Assays Market, By Technology Type:
◦ Absorbance based Protein Assays
◦ Colorimetric Protein Assays
◦ Fluorescence based Protein Assays
• Global Protein Assays Market, By End User:
◦ Pharmaceutical and Biotechnology Industries
◦ Clinical Laboratories
◦ Academic Research Institutes
• Global Protein Assays Market, By Geography:
◦ North America
◦ Asia Pacific
◦ Latin America
◦ Middle East
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