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Protein Assay Market -Global Industry Analysis, Top Key Player, Growth Factor, Trends and Forecast Report
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The global protein assay market is expected to witness considerable growth during the forecast period (2017 – 2023), mainly due to the increasing investment by pharma and biotech companies in research and development (R&D), as well as funding by governments of various countries for proteomics research.
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The rising investment in pharmaceutical and biotechnology R&D, 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. According to a publication by Pharmaceuticals Research and Manufacturers of America (PhRMA), the member organizations (pharmaceutical companies) of PhRMA spent approximately $58.8 billion on R&D, accounting for the largest part of all the biopharmaceutical R&D spending in the U.S, in 2015.
North America was the largest market for protein assay in 2016, followed by Europe and Asia-Pacific. Asia-Pacific is expected to witness the highest growth during the forecast period. The growth in protein assay market in developing economies such as China, India, and Japan is primarily due to the increasing R&D expenditure in life science, and increase in the funding by various government and private organizations for proteomics research.
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Some of the other key players operating in the global market are ThermoFisher Scientific, Inc., PerkinElmer, Inc., Bio-Rad Laboratories, Inc., Promega Corporation, GE Healthcare, Merck KGaA, Cell Signalling Technology, Inc., Abcam PLC, Lonza Group, BioVision Inc., Bio-Techne Corporation (Novus Biologicals) and G-Biosciences Inc.
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