Protein Assays Market is Expecting Major Tech Innovations in Near Future

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

This report provides a detailed overview of the major drivers, restraints, challenges, opportunities, and strategies impacting the protein assays market, along with revenue estimates & forecasts and market share analysis.

The global protein assays application market is expected to reach USD 2.41 Billion by 2022 from USD 1.42 Billion in 2017, at a CAGR of 11.1% from 2017 to 2022.

The increasing pharmaceutical & biotech R&D expenditure and favorable government funding scenario for proteomics research are the major factors driving the growth of this market. In this report, the global protein assays market is segmented based on type, product, technology, application, end user, and region.

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The protein assays market, by application, is segmented into disease diagnosis, drug discovery & development, and other applications. The disease diagnosis segment is expected to grow at the highest CAGR during the forecast period. This can be attributed to the increasing adoption of protein assays used to diagnose cancer; immune system diseases; and liver, kidney, and bone marrow diseases.

On the basis of end user, the protein assays application market is segmented into pharmaceutical & biotechnology companies, clinical laboratories, hospitals, academic research institutes, and other end users. In 2017, the pharmaceutical & biotechnology companies segment is expected to account for the largest share of the market. The growth in this segment can primarily be attributed to the increasing drug development in the life science industry.

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.

Some of the major players operating in the protein assays market are Thermo Fisher Scientific (U.S.), Bio-Rad Laboratories, Inc. (U.S.), Merck KGaA (Germany), Cell Signaling Technology, Inc. (U.S.), General Electric Company (U.S.), and PerkinElmer Inc. (U.S.).

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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.).

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.