The growth of the protein assays market can be attributed to the increasing pharmaceutical & biotech R&D expenditure and favorable government funding scenario for proteomics research.
Global Key Players:
Based on the analysis of strategic developments undertaken by market players between 2014 and 2017, the key strategy followed by most companies in the market is expansions and agreements, partnerships, and collaborations. Some of the leading players that adopted this strategy include Thermo Fisher Scientific (U.S.), Merck KGaA (Germany), Cell Signaling Technology, Inc. (U.S.), Abcam plc. (U.S.), and PerkinElmer Inc. (U.S.).
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Thermo Fisher Scientific was leading player in the protein assay products market in 2016. The company focuses on organic and inorganic strategies in order to strengthen its position in the market. In 2015, the company acquired Alfa Aesar (U.S.), and in 2014 acquired Life Technology Corporation (U.S.) these acquisitions helped the company strengthen its protein assays product portfolio.
In 2017, the company acquired Core Informatics (U.S.) and in 2016 acquired Affymetrix (U.S.) in order to enhance its share in the market. In 2016, the company expanded its clinical trials support in Japan. In 2015, the company opened its new clinical services facility in Singapore. These expansions helped the company to amplify its geographic reach.
Target Audience for this Report:
# Protein assay manufacturers and vendors
# Distributors of protein assays
# Various research and consulting companies
# Associations related to pharmaceutical and biotechnological research
Merck KGaA was another leading player in the protein assay products market in 2016. It focuses mainly on collaborations, acquisitions, and expansions to strengthen its position in the market. In November 2015, the company acquired Sigma Aldrich (U.S.). This acquisition helped it to increase its product portfolio and its geographic presence.
The company also focuses on expansions to strengthen its market share. In September 2016, the company expanded its R&D facility in China. This helped the company to increase its protein assays product portfolio. In March 2015, the company collaborated with Illumina (U.S.). This collaboration helped the company to develop assays used in clinical trials.
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Geographical Growth Scenario:
On the basis of region, the global protein assays market is segmented into North America, Europe, Asia, and the Rest of the World (RoW). Asia is expected to grow at the highest CAGR during the forecast period. The growth in this region is primarily driven by the increasing pharmaceutical and biotechnology R&D expenditure and availability of government funding for life sciences research.