According to the new market research report “Protein Stability Analysis Market by Product (Assay and Reagent, Instrument), Technique (Chromatography, Spectroscopy (DLS, Fluorescence Spectroscopy), SPR, DSF), End User (Pharmaceutical & Biotech Companies, Research Institute) – Global Forecast to 2024″, published by MarketsandMarkets™, the Protein Stability Analysis Market is expected to grow from USD 1.2 billion in 2018 to USD 2.1 billion by 2024, at a compound annual growth rate (CAGR) of 10.0% during the forecast period.
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The major driving factors of this market are open innovation models in pharmaceutical & biotechnology companies and increasing pharmaceutical outsourcing.
The chromatography technique is expected to account for the largest share in the Protein Stability Analysis Market during the year 2018.
On the basis of technique, the Protein Stability Analysis Market is segmented into chromatography, spectroscopy, surface plasma resonance imaging (SPRI), differential scanning calorimetry (DSC), differential scanning fluorimetry (DSF), and other techniques. In 2018, the chromatography segment dominated this market due to factors such as the high usage of HPLC and size-exclusion chromatography for protein stability and aggregate analysis in drug discovery and development for ensuring drug safety.
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Pharmaceutical and biotechnology companies held the largest share of the Protein Stability Analysis Market.
By end user, the market is segmented into pharmaceutical and biotechnology companies, contract research organizations, and academic & research institutes. Pharmaceutical & biotechnology companies accounted for the largest share of the Protein Stability Analysis Market in 2019. The large share of this segment is primarily due to the extensive use of protein stability analysis in pharmaceutical & biotechnology companies for drug discovery applications. Stringent regulations for pharmaceutical drug development and manufacturing, the utilization of the quality-by-design approach in drug discovery and development, and increasing public-private research investments & funding for drug development are also supporting the adoption of protein stability analysis instruments in this end-user segment.
The Asia Pacific Protein Stability Analysis Market is projected to grow at the highest rate during the forecast period.
Emerging Asia Pacific countries, such as India, China, Japan, South Korea, and Indonesia, are witnessing a rapid expansion and the modernization of healthcare infrastructure and increasing per capita healthcare expenditure. The growth of this market is attributed to the increasing R&D spending, the growing trend of outsourcing drug discovery services, increasing number of public-private partnerships, and growing government funding for medical research.
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The major protein stability analysis providers include Thermo Fisher Scientific, Inc. (US), Waters Corporation (US), Agilent Technologies, Inc. (US), PerkinElmer (US), Shimadzu Corporation (Japan), GE Healthcare (US), Malvern Panalytical Ltd (Spectris company) (US), Horiba, Ltd (Japan), Unchained Labs (US), NanoTemper Technologies (US), and Enzo Life Sciences, Inc. (US).