Impact Analysis of Covid-19
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The global protein assays market was valued at US$ 1,503.7 million in 2016 and is projected to exhibit a robust CAGR of 7.6% over the forecast period (2017-2025).
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Protein quantification is a protein extraction process in biochemistry and molecular biology laboratories, which gradually involves the processes of protein extraction, analysis, and labeling. The most commonly used protein assays are Bradford, Lowry, BCA, and UV spectroscopic protein assays. In April 2017, Millipore Sigma launched a new Single Molecule Counting Platform, called SMCxPROTM, based on the principle of immunoassay, which enables precise and sensitive detection.
Pharmaceutical companies across the globe are increasingly investing in protein assays, which is assisting in the development of various drugs. Several initiatives have led to new breakthroughs and development of treatments, specifically tailored for the genetic profile of an individual tumor that helps to offer relatively better and effective treatment methods. According to a publication by Pharmaceuticals Research and Manufacturers of America (PhRMA), the member organizations (pharmaceutical companies) of PhRMA invested around US$ 58.8 billion in research & development in the U.S. in 2015.
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Among regions, Asia Pacific is foreseen to witness the highest growth in the global protein assays market over the projected timeframe. Market growth in this region is accredited to the growing application of protein content determination in the fields of pharmacy and biotechnology. Increasing private-public partnerships for genetic analysis has further facilitated the regional market growth. Furthermore, the expanding biotechnology and life sciences sectors in this region, coupled with higher focus on R&D by the top market players of Asia Pacific, are fueling the expansion of the regional market. For instance, in January, 2016, Thermo Fisher Scientific Inc. acquired Affymetrix to strengthen its position in biosciences and genetic analysis as well as extend geographic reach of Affymetrix’s products by leveraging Thermo Fisher’s market presence and infrastructure in Asia Pacific, especially in China.
A multitude of novel biomarker identification systems and emerging uses of protein assays are estimated to offer lucrative growth prospects for the global protein assays market. For instance, in June 2017, Gyros Protein Technologies AB launched a new version of its anti-drug antibody (ADA) solution for the immunogenicity segment. The Gyrolab ADA solution enables to automatically run drug-tolerant ADA assays in a time-efficient way reducing hands-on time, using small volumes of patient samples and reagents, and reducing run-times. Furthermore, in June 2015, Thermo Fisher Scientific Inc. introduced the Orbitrap Fusion Lumos Tribrid mass spectrometer. In 2017, the company launched the Integrated Ultraviolet Photo separation (UVPD) system that enables specialists to perform substantial and little atom structure assurance on a Lorentz focus (LC) time scale.
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Key Takeaways of the Global Protein Assays Market:
- Increasing collaborations among the key pharmaceutical companies, academic researchers, regulators, and government organizations are predicted to provide a significant momentum to the global market growth in the coming years.
- Among product types, the reagents and kits segment is expected to account for the largest share over the forecast timeline, supported by the quick and ready-to-use modifications of reagents.
- Speaking of the technology outlook, the absorbance-based segment is expected to emerge as the largest contributor to market growth, owing to the growing effectiveness and accuracy of absorbance-based proteins.
- The well-known players actively involved in the global protein assays market are Thermo Fisher Scientific Inc., GE Healthcare, Merck KGaA, Bio-Rad Laboratories, Inc., Lonza, Abcam Plc, PerkinElmer Inc., Bio-Techne, BioVision Inc., Cell Signaling Technology, Inc., and Geno Technology Inc.
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