The protein assays market involves various reagents and kits that are used to detect and measure the concentration of proteins in biological samples. Protein assays are used across various industries such as pharmaceutical and biotechnology companies, hospitals and diagnostic centers, research & academic institutes for applications in protein quantification, protein purity assessment, enzyme activity measurement, and protein-protein interactions. The rising prevalence of chronic diseases such as cancer, diabetes, cardiovascular diseases, and infectious diseases is driving the demand for protein-based research, diagnostic testing and drug development activities, fueling the growth of the protein assays market.

The global protein assays market is estimated to be valued at US$ 2.1 billion in 2024 and is expected to exhibit a CAGR of 7.8% over the forecast period 2024 to 2031.

The increasing investments in proteomics research, rising focus on personalized medicine, growing biopharmaceutical industry, and technological advancements in protein assay products are some of the major factors responsible for driving the market growth.

Key Takeaways

Key players operating in the protein assays market are Bio-Rad Laboratories, Thermo Fisher Scientific, Merck KGaA, GE Healthcare, PerkinElmer Inc., Enzo Biochem, Inc., and Promega Corporation.

The market is expected to witness high growth opportunities due to increasing research on proteomics, expansion of biologics manufacturing facilities, and rising demand for therapeutic protein monitoring. Major players are focusing on new product launches, partnerships, and geographical expansions to strengthen their market position.

Global expansion of the market is driven by factors such as increasing healthcare spending, rising awareness regarding protein-based disease diagnosis, growing biotechnology and pharmaceutical industries in emerging countries of Asia Pacific and Latin America.

Market Drivers

The major driver boosting Protein Assays Market Demand is the rising prevalence of chronic and infectious diseases globally. Protein assays find wide applications in research, diagnosis, and monitoring of various disease conditions. Furthermore, increasing expenditure on pharmaceutical R&D, growing adoption of personalized medicine, and continuous technological advancements in protein assay products are expected to propel the market growth during the forecast period.

PEST Analysis

Political: The government policies will positively impact the protein assays market. Regulations regarding protein analysis will boost the demand for related products.

Economic: Rising per capita healthcare expenditures will drive the protein assays market. Increased investments by pharmaceutical and biotechnology companies in R&D will fuel the market growth.

Social: Growing awareness about protein analysis in disease diagnosis and drug development will propel the market ahead. Social trends like increasing health consciousness will benefit the market.

Technological: Automation and miniaturization of protein assays using advanced technologies like microfluidics, lab-on-a-chip systems will augment the market. Cloud computing applications will make protein analysis simpler and wider in scope.

 

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