Protein Assays Market is Expected to Grow at a CAGR of Approximately 10.8% by 2023

The global protein assay market is expected to witness considerable growth during the forecast period, mainly due to the increasing investment by pharma and biotech companies in research and development (R&D) and funding by governments of various countries for proteomics research.
Protein Assay is an analytical technique used for measuring the concentration of protein in a solution. These assays are one of the most extensively used procedures in life science studies. Although, there is a wide range availability of protein assays, each assay is unique in its own way and has its own merits and limitations, and hence a protein assay should be selected considering their suitability for the application. For instance in Feb 2017, Promega Corporation announced the development of a benchtop capillary electrophoresis (CE) instrument in collaboration with Hitachi High-Technologies Corporation. These system are equipped to carry NGS validation, PCR sizing and microsatellite analysis, single nucleotide polymorphism, de novo sequencing and mutation detection.
Protein quantification is pivotal part of daily workflow of protein extraction in biochemistry and molecular biology labs that involves protein extraction, analysis or labeling. Favorable government policies for proteomics research, and the presence of a large number of players in the global protein assay market are the key factors driving the growth of the market during the forecast period.

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Global protein assays consists of regions namely the Americas, Europe, Asia Pacific, and the Middle East.
North America dominated the global protein assays market owing to the increasing research and development in biotechnology and pharmaceutical companies especially for study of genomics and proteomics play significant role in driving the global protein assays market. The European market is growing at a steady pace and is anticipated to compete with the American market. Asia Pacific is expected to be the fastest growing region in the bone graft substitute market during the forecasted period 2017 to 2023.
Segmentation
The protein assays is segmented on the basis of type, application, product, technology and end-users.
On the basis of type, the market is segmented into the copper-ion-based assays, test strip-based assays, dye-binding assays, and others. On the basis of application, market is segmented into diagnosis, drug discovery, protein purification and others. On the basis of product, market is segmented into reagents & kits, instruments and others. On the basis of technology market is segmented into colorimetric-based protein assays, fluorescence-based protein assays, and absorbance-based protein assays. On the basis of end-user, the market is segmented into hospitals & diagnostic centers, academic institutes, pharmaceutical & biotechnology companies and others.

Key Players
Some of key the players in the global protein assays market are GE Healthcare (U.S.), Thermo Fisher Scientific (U.S.), Bio-Rad Laboratories Inc. (U.S.), Merck KGaA (Germany), Cell Signaling Technology Inc. (U.S.), Abcam plc (U.S.), Lucigen Corporation (U.S.), PerkinElmer Inc. (U.S.), QIAGEN (Germany), Lonza Group Ltd. (Switerzland), Bio-Techne (U.S.), BioVision Inc. (U.S.), Illumina Inc. (U.S.), New England Biolabs (U.S.), Takara Bio Inc. (Japan), Promega Corporation (U.S.), F. Hoffmann-La Roche Ltd (Switerzland), and others.

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The US market is one of the leading market for gum grafting which is followed by Canada. As per the The use of protein assays for early diagnosis of diseases such as cancer and HIV may significantly reduce the morbidity and mortality of the disease. These assays are cost effective, facile and reproducible. Commonly used protein assay are Bradford, Lowry, BCA, and UV spectroscopic protein assays. Thus, use of assay in disease diagnosis, drug discovery and development encourages the biotechnology and pharmaceutical industry to invest in R&D, which fuels the demand of protein assays market.
Several new biomarker identification systems are launched by the key players which grants various opportunities for the global protein assay market. For instance, in June 2017, Gyros Protein Technologies AB launched a new version of its anti-drug antibody (ADA) solution for the immunogenicity market. This solution enables customers to automatically run the assays in a time-efficient manner using small volumes of patient samples and reagents, and shorten run-times.
According to a publication by Pharmaceuticals Research and Manufacturers of America (PhRMA), the organizations spent approximately $58.8 billion on R&D in 2015 accounted for the largest part of all the biopharmaceutical R&D spending in the U.S. However, high cost of multiplex assay hardware is limiting the growth of global protein assay market.

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