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Protein Labeling Market Size, Share, Growth Trends And Outlook Forecast 2024-2033
Protein Labeling Market
According to The Business Research Company's, The protein labeling market size has grown rapidly in recent years. It will grow from $2.35 billion in 2023 to $2.58 billion in 2024 at a compound annual growth rate (CAGR) of 10.1%. The growth in the historic period can be attributed to increasing demand for protein-based therapeutics, growing adoption of proteomics research, expanding range of applications for protein labeling, rising awareness of the benefits of protein labeling, increasing availability of skilled labor, increasing prevalence of chronic diseases.
The protein labeling market size is expected to see rapidly grown in the next few years. It will grow to $3.9 billion in 2028 at a compound annual growth rate (CAGR) of 10.8%. The growth in the forecast period can be attributed to personalized medicine, point-of-care (poc) testing, growth in proteomics, increased funding and investment in life sciences, rising healthcare expenditure. Major trends in the forecast period include advances in protein labeling technologies, quantum dots and nanoparticles, multiplexing and high-throughput labeling, bioorthogonal labeling, integration of artificial intelligence (ai), sustainable labeling reagents, drug development.
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Market Drivers and Trends:
Increased spending on the R&D of proteomics and genomics is driving the growth of the protein labelling reagents market. Proteomics is the study of the overall protein content of a cell, tissue, or organism. Protein labelling methods before separation and analysis are essential during proteomic profiling approaches. For instance, the National Institutes of Health (NIH) of the United States, funded $37 billion for biomedical research. This funding is for life sciences research that supports study at a molecular level for the understanding of fundamental processes by which diseases develop, the identification of biomarkers that signal the presence of disease, or identification of genes or proteins responsible for the disease. The Novo Nordisk Foundation granted a grant of up to $1.5 million to the University of Copenhagen to establish a mass spectrometry facility, which marks a new and exciting step in protein research. Therefore, the increased spending on research and development of proteomics and genomics is driving the market.
Companies in the protein labelling market are increasing their product innovation through strategic collaborations. To sustain in the increasingly competitive market, companies are developing innovative products as well as sharing skills and expertise with other companies. While companies have long collaborated as well as academic and research institutions in this market by way of partnerships, in or out-licensing deals, this trend has been increasing over recent years. For instance, recombinant protein manufacturer enGenes Biotech GmbH (enGenes) announced a collaboration with ACIB GmbH for protein labelling.
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Major Key Players of the Market:
Thermo Fisher Scientific Inc.; Merck KGaA; PerkinElmer Inc.; General Electric Company; F. Hoffmann-La Roche AG; Agilent Technologies Inc.; BIO-RAD LABORATORIES; Kirkegaard & Perry Laboratories; LI-COR Inc.; Kaneka Corporation; Promega Corporation; Eurogentec S.A.; Luminex Corporation; GE Healthcare; New England Biolabs Inc.; Seracare Life Sciences Inc.; Abcam plc.; ZEDIRA GmbH; NanoTemper Technologies GmbH; TriLink BioTechnologies LLC.; Waters Corporation; AMETEK Inc.; HORIBA Ltd.; Spectris plc.; METTLER TOLEDO International Inc.; Shimadzu Corporation; Hitachi High-Tech Corporation; Attana AB; Affinité Instruments; Biosensing Instruments
Protein Labeling Market 2024 Key Insights:
• The protein labeling market size will grow to $3.9 billion in 2028 at a compound annual growth rate (CAGR) of 10.8%.
• Rising R&D Investment In Proteomics And Genomics Boosts Protein Labelling Reagents Market
• Strategic Collaborations Drive Product Innovation And Competitiveness In The Protein Labelling Market
• North America was the largest region in the protein labelling market in 2023
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