The increasing pharmaceutical & biotech R&D expenditure and favorable government funding scenario for proteomics research are the major factors driving the growth of Protein Assays Market. In this report, the global protein assays market is segmented based on type, product, technology, application, end user, and region.
Expected Revenue Growth:
The global protein assays 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.
Industry Segmentation:
Based on type, the protein assays market is segmented into dye-binding assays, copper-ion-based assays, test strip-based assays, and other protein assays. On the basis of product, the protein assays market is segmented into reagents, kits, and instruments & accessories. In 2017, the reagents segment is expected to account for the largest share of the market. This growth can be attributed to the quick and ready-to-use modifications and the requirement of repeat purchase of reagents.
On the basis of technology, the protein assays market is segmented into absorbance-based protein assays, colorimetric protein assays, and fluorescence-based protein assays. Based on application, the protein assays market is segmented into disease diagnosis, drug discovery & development, and other applications. The drug discovery & development segment is expected to account for the largest market share in 2017. The increase in the R&D expenditure in the life science industry is a key market driver for this segment.
End Users:
Based on end user, the protein assays 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. This growth can be attributed to the increasing drug development in the life science industry.
Geographical Growth:
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.
Global Leaders:
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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