Protein Assays Market Size, Share and Industry Analysis Report, Regional Outlook, Growth Potential, Competitive Market Share & Forecast, 2024 – 2032

Protein Assays Market Size

Protein Assays Market size will register significant growth between 2024 and 2032, owing to increasing mergers and acquisitions among leading companies. As industry leaders seek to expand their product portfolios and enhance their market presence, strategic collaborations and acquisitions become prevalent. 
 

For instance, in May 2022, CellCarta, a prominent global provider of precision medicine laboratory services, announced the acquisition of commercial rights to the antibody panels and assays from Precision Assays, a leading provider of next-generation targeted proteomics testing solutions. Precision Assays is a spin-off of Fred Hutchinson Cancer Center, which specializes in developing and deploying advanced multiplex quantitative immuno-MRM mass spectrophotometry-based assays for clients in the pharmaceutical and biotech industries. This acquisition strengthened CellCarta's position in proteomics services, offering a unique portfolio of validated reagents and multiplex assays, including off-the-shelf panels tailored to specific pathways. 
 

These mergers and acquisitions enable companies to access new technologies, broaden their customer base, and strengthen their competitive position. This trend drives market gains by fostering innovation, streamlining operations, and providing comprehensive solutions that meet the diverse needs of researchers and scientists in the protein assay field.
 

The protein assays market witnesses escalating demand driven by innovative launches from industry leaders. Leading companies continuously introduce novel assays and technologies that offer improved sensitivity, specificity, and throughput. These solutions cater to the evolving needs of researchers and scientists in protein analysis. With a focus on enhancing assay performance and efficiency, these launches propel advancements in proteomics research and enable the development of new diagnostics and therapeutics. This trend underscores the dynamic nature of the protein assays industry and its pivotal role in advancing biomedical research. 
 

For instance, in May 2023, 10x Genomics, Inc., a pioneer in single cell and spatial biology, unveiled the commercial release of the Protein Expression product and the new Visium CytAssist Gene, enhancing the Visium CytAssist spatial analysis capabilities. Michael Schnall-Levin, Founding Scientist and Chief Technology Officer emphasized the company's commitment to innovation in spatial biology. The launch complements their multi-omic analysis focus, offering expanded protein capabilities across all their platforms. 
 

The protein assays market faces notable restraints amidst its progression trajectory. Technical challenges in assay standardization and variability hinder result accuracy and reproducibility, impacting data reliability. Besides, high assay development costs and complex protocols pose barriers to adoption, especially for smaller research laboratories and academic institutions. Regulatory requirements further complicate market entry and product development processes. Overcoming these restraints demands concerted efforts in standardization, cost reduction, and regulatory compliance, ensuring the continued advancement and accessibility of protein assay technologies.
 

Protein Assays Market Trends

The industry experiences heightened demand driven by innovative product launches from industry leaders. Leading companies continually introduce novel assays and technologies, offering enhanced sensitivity, specificity, and throughput. These innovations cater to the evolving needs of researchers and scientists across various sectors, including biotechnology, pharmaceuticals, and academic research. With each new launch, the market expands as customers seek advanced solutions for protein quantification, characterization, and validation. This trend underscores the crucial role of innovation in driving growth and competitiveness in the business.
 

Citing an instance, in November 2021, Bio-Rad Laboratories, Inc., a prominent global provider of life science research and clinical diagnostic products, unveiled the launch of the CFX™ Opus 96 Dx System and the CFX™ Opus 384 Dx System. These real-time PCR detection systems obtained listing with the U.S. Food and Drug Administration (FDA) for in vitro diagnostic (IVD) testing. The introduction of the CFX Opus 96 Dx System and the CFX Opus 384 Dx System expanded Bio-Rad’s portfolio of real-time PCR instruments, offering accurate and precise quantification to enhance assay development and streamline workflow efficiencies and productivity in diagnostic testing and research.
 

Protein Assays Market Analysis

Based on product, market size from the reagents segment is estimated to record a substantial CAGR up to 2032. The segmental expansion can be attributed to the product’s ability to facilitate fast and ready-to-use alterations and the growing repeat purchases of reagents. As the demand for protein analysis continues to rise across biotechnology, pharmaceutical, and academic sectors, there is a corresponding increase in the need for reliable and efficient reagents. This demand for reagents drives market progress as companies strive to meet the evolving requirements of protein assay workflows with innovative and superior-quality products.
 

Based on type, the protein assays market is divided into test strip-based assays, copper-ion-based assays, dye-binding assays, and others. The market share from the dye-binding assays segment is anticipated to increase steadily by 2032. One of the major benefits of using this type of assay is its ability to diagnose a wide variety of chronic diseases, including Alzheimer’s and cancer. Widely adopted across research, pharmaceutical, and biotechnology sectors, dye-binding assays offer simplicity, sensitivity, and versatility. With the increasing need for precise protein quantification in various applications, the demand for dye-binding assays continues to rise, driving market growth and prompting advancements in assay technologies to meet evolving customer needs.
 

Based on application, protein assays market value from the drug development segment will witness strong growth by 2032. The segmental development can be credited to the several uses of protein assays in different phases of pre-clinical & clinical trials and the later stages of the drug development process. Among them, biotechnology and pharmaceutical firms will spot lucrative progression opportunities in this industry over the coming years. The drug development process in the life science sector is witnessing several advancements, which may further accelerate the usage of protein assays.
 

North America protein assays market value will grow decently by 2032 as the region has a vast presence of well-known pharma companies. Also, factors such as rising government efforts towards disease prevention, a growing emphasis on R&D in the healthcare sector, and the availability of advanced R&D centers will boost regional market development. Governments across the region are taking important steps to intensify the research and development efforts in creating new treatments and therapies for the healthcare sector.
 

For instance, the Ministry of Health in Canada announced that it had received funds worth USD 7.3 million from the government to fortify public health research capacity in the country. Such initiatives will improve the research efforts on the applications of protein assays.
 

Protein Assays Market Share

Major companies operating in the protein assays industry competitive landscape include:

•  Abcam plc
• Bio-Rad Laboratories
•  BECTON
•  DICKINSON AND COMPANY
• Cayman Chemical
• BioVision
• General Electric
• Thermo Fisher Scientific Cell Signaling Technology
• Merck KGaA
• Oz Biosciences
• Geno Technology
• PROMEGA CORPORATION
•  PerkinElmer
   

Protein Assays Industry News

In December 2023, Danaher Corporation (DHR) finalized its acquisition of Abcam plc, based in Cambridge, UK, for $24.00 per share in cash, totaling approximately $5.7 billion. Established in 1998, Abcam specializes in producing, distributing, and selling protein research tools critical for drug discovery, life sciences research, and diagnostics. By integrating Abcam into its Life Sciences segment, DHR aimed to enhance its ability to address complex diseases and expedite drug discovery. Leveraging Abcam's innovation, product quality, and extensive antibody portfolio, Danaher sought to tackle significant healthcare challenges effectively.