Protein Binding Assays Market
Number of pages: 100 | Report Format: PDF | Published date: February 13, 2023
Historical Years – 2020 | Base Year – | Forecasted Years – 2022-2030
|
Report Attribute |
Details |
|
Market Size Value in 2021 |
US$ 339.9 million |
|
Revenue Forecast in 2030 |
US$ 833.50 million |
|
CAGR |
10.48% |
|
Base Year For Estimation |
2021 |
|
Forecast Period |
2022-2030 |
|
Historical Year |
2020 |
|
Segments Covered |
Technology, End-user, and Region |
|
Regional Scope |
North America, Europe, Asia Pacific, and the Rest of the World (RoW) |
According to the deep-dive market assessment study by Growth Plus Reports, the global protein binding assays market was valued at US$ 339.9 million in 2021 and is expected to register a revenue CAGR of 10.48% to reach US$ 833.50 million by 2030.
Protein Binding Assays Market Fundamentals
Protein binding assays are used to measure the interaction between various types of proteins. This technology is experiencing great popularity as a result of its broad usage in the process of developing new drugs. The protein binding assay process is based on thermophoresis. This method is commonly utilized in protein binding experiments to analyze protein interactions. Furthermore, protein binding assay allows for identification. It gives researchers and scientists crucial information on the reaction between two proteins or other biomolecules. Protein binding tests improve the therapeutic effects of drugs and reduce the amount of target molecule used.
The global protein binding assays market is growing rapidly due to several factors, including the increasing prevalence of chronic diseases, the growing demand for personalized medicine, and the rising focus on drug discovery and development. Growing demand for high-throughput screening systems and multiplex assays is driving the revenue growth of the protein binding assays market. The increasing investment in research and development and the growing number of contract research organizations are also contributing to the revenue growth of the market. The rising focus on the development of biopharmaceuticals and biosimilars is also driving the revenue growth of the protein binding assays market, as these assays are essential for the characterization and quality control of biopharmaceuticals. The growing demand for advanced healthcare infrastructure and the increasing adoption of precision medicine are also fueling revenue growth in the protein binding assays market.
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Protein Binding Assays Market Dynamics
The global protein binding assays market is expected to depict notable revenue growth during the forecast period due to increase in drug approvals. Additionally, the rising incidence of communicable and non-communicable (chronic and infectious diseases) illnesses further propels the demand for the development of novel medications and medical devices, thus, accelerating the demand for the protein binding test. Furthermore, the growing potential in molecular biology and genetic engineering also impacts the market by contributing to its overall development. Moreover, over the past decade, the growing preference for protein binding assays among various consumers or end-users, such as pharmaceutical and biopharmaceuticals, during the research activities in the drug discovery for high quality and safety in medications and their components further fuels the market revenue growth. Additionally, the market is expected to experience high revenue growth opportunities during the forecast period, especially in the CROs, due to growing R&D initiatives by various market players.
However, the lack of skilled professionals, high costs of protein assay tests, and rapid development of silico-based prediction models are some of the challenges restraining the revenue growth in the protein binding assays market.
Protein Binding Assays Market Ecosystem
The global protein binding assays market has been analyzed from three perspectives: technology, end-user, and region.
Protein Binding Assays Market by Technology
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Based on technology, the global protein binding assays market has been segmented into equilibrium dialysis, ultrafiltration, surface plasmon resonance, and ultracentrifugation.
The equilibrium dialysis segment dominates the market with the highest revenue share. Equilibrium dialysis is a primary and most extensively utilized procedure in protein binding assays. It can be performed using rapid equilibrium dialysis (RED) devices. This strategy is widely adopted by researchers or research professionals due to its benefit of low binding effects on extraneous and unexpected factors that alter the research outcomes. Various advantages, such as low price, physical simplicity, and high precision, are factors ascribed to the consistent sales growth of the equilibrium dialysis segment.
Protein Binding Assays Market by End-user
Based on the end-user, the global protein binding assays market has been segmented into pharmaceutical & biopharma companies, contract research organizations (CROs), and others.
The pharmaceutical & biopharmaceutical segment accounts for the largest revenue share in the market due to the growing R&D activities, thus increasing the need for improved drugs and therapies. Additionally, increasing mergers, collaborations, and acquisitions among the various biopharma and pharma companies further encourage the revenue growth of this segment, thereby helping in market development.
The contract research organizations (CROs) segment is expected to expand at a significant revenue share during the forecast period owing to low manufacturing and operational costs. Recent expansion in the pharmaceutical business has proven beneficial for the protein binding test market. The CRO segment is expanding rapidly as a result of rapid technical advancements, changing regulations, and increasing trend of outsourcing.
Protein Binding Assays Market by Region
Based on region, the market has been segmented into North America, Europe, Asia Pacific, and the Rest of the World.
North America leads with the highest revenue share of the global market. The primary reasons driving development include a considerable increase in the number of instances of dental problems and an increase in government initiatives in this region. The pharmaceutical industry’s rigorous regulatory requirements, a rising number of clinical research and studies, and the rapid expansion of biosimilars and biologics support the North America protein binding assays market revenue growth. The presence of leading pharmaceutical corporations in the U.S. that can invest/fund a significant amount in research activities is expected to accelerate this regional market revenue growth in the next few years. The pharmaceutical and biotechnology sectors in North America are investing in new technologies, and protein-binding assays are a crucial component of many product development initiatives in these sectors.
The Asia Pacific protein binding assays market is rapidly growing, driven by the increasing prevalence of chronic diseases, the growing demand for personalized medicine, and the rising focus on drug discovery and development in the region. Countries such as China, India, and Japan are major contributors to the revenue growth of the protein binding assays market in Asia Pacific. The increasing investment in research and development, along with the growing demand for advanced healthcare infrastructure and the rising number of contract research organizations in the region, are driving the revenue growth of the protein binding assays market. Moreover, the increasing focus on the development of biopharmaceuticals and biosimilars and the growing demand for high-throughput screening systems and multiplex assays are also driving the revenue growth of the protein binding assays market in Asia Pacific. However, the high cost of protein binding assays and the lack of skilled professionals in the field may hinder the revenue growth of the protein binding assays market in Asia Pacific.
Protein Binding Assays Market Competitive Landscape
The prominent players operating in the global protein binding assays market are:
The global protein binding assays market is expected to be valued at US$ 833.50 million by 2030.
The global protein binding assays market is expected to register growth at a revenue CAGR of 10.48% during the projected period.
The equilibrium dialysis segment accounts for the largest revenue share of the global protein binding assays market.
The limitations in the reimbursement of protein assay tests, the lack of skilled and experienced professionals, and the high cost of protein binding assays are some of the restraints in the protein binding assays market revenue growth.
The pharmaceutical & biopharmaceutical segment dominates the protein binding assays industry.
*Insights on financial performance are subject to the availability of information in the public domain