Protein Assays Market Expected to Reach $4.5 Billion by 2032—Allied Market Research

According to a new report published by Allied Market Research, titled, “Protein Assays Market," The protein assays market size was valued at $2.4 billion in 2022, and is estimated to reach $4.5 billion by 2032, growing at a CAGR of 6.5% from 2023 to 2032. Protein quantification assays are also used to standardize other analysis results to the mass used. Since protein quantitation is an elementary prerequisite for many different downstream applications, it is the most frequently practiced protein assay.

The purpose of the protein assay is to determine the amount or concentration of a specific protein or an array of different proteins in a sample. Isolating and detecting protein is used for many clinical and research processes. 

The growth of the protein assays market size is majorly driven by an increase in pharmaceutical and biotech R&D expenditure and favorable government funding for proteomic research. Moreover, the increase in prevalence of diseases such as cancer and neurological disorders and the rise in focus on personalized medicines are the major factors that propel the growth of the market.  

Furthermore, the increase in number of protein assays industry and the strategies they adopt such as collaboration, acquisition, product approval and others to provide a wide range of technologically advanced protein assays kits and analyzers are the factors that propel the growth of the market. For instance, in August 2022 Verichem Laboratories launched a new extensive offering of liquid stable and ready-to-use clinical reference materials for protein testing. The multi-level and combined total protein/albumin standard kit, along with the optional and stand-alone, total protein/ albumin standard – Level F, and the microprotein standard kit are all specifically designed and manufactured for the calibration and calibration verification of albumin and total protein assays on a wide number of clinical testing systems.  

Moreover, the increase in collaboration and partnership between biotechnology and pharmaceutical companies has led to the development of more sophisticated and versatile protein assay platforms that propel the growth of the protein assays market share. For instance, in October 2022 Amphista Therapeutics Ltd., a global leader in the discovery and development of next generation targeted protein degradation (TPD) therapeutics and recently named Fierce Biotech, had selected Domainex Ltd as one of its trusted partners to provide integrated drug discovery services to support its research programs.  

Based on product type, the protein assays market analysis is segmented into kits & reagents and instruments & accessories. The kits & reagents segment contributed maximum protein assays market share in 2022, owing to the fact that kits and reagents used for protein assays typically include a combination of specialized tools and components that enable the parallel measurement of multiple protein biomarkers that helps in drug discovery and disease diagnosis. However, the instruments & accessories segment is expected to witness a significant CAGR during the forecast period.   

Based on technology, the absorbance-based protein assays segment dominated the protein assays industry in 2022, owing to the fact that absorbance-based protein assays technology offers increasing sensitivity and accuracy owing to the advent of new technologies. The colorimetric based protein assays segment is expected to witness the highest CAGR during the forecast period. 

Based on application, the drug discovery and development segment dominated the market in 2022, owing to large number of ongoing drug discovery and development activities initiated by pharmaceutical companies around the world. The disease diagnosis segment is expected to witness the highest CAGR during the forecast period. 

Based on end user, the pharmaceutical and biotechnology companies segment dominated the market in 2022, owing to increase in the number of developments in the life sciences industry's related to proteomics that help in drug development process could hasten the use of protein assays even more.  The others segment is expected to witness the highest CAGR during the forecast period.  

On the basis of region, North America generated maximum revenue in 2022 owing to presence of advanced healthcare infrastructure, increasing prevalence of chronic diseases such as cancer and various other chronic disease that has driven the demand for protein assay for disease diagnosis and supportive regulatory agencies such as the U.S. FDA that have established clear pathways for the approval and commercialization of protein assay test kits and reagents, providing a conducive environment for companies to develop and market protein assays products.                                                                   
However, Asia-Pacific is expected to witness the highest CAGR during the forecast period owing to large patient population, increase in healthcare infrastructure and rise in focus on research and development in the industry. Additionally, China’s biotech sector has resulted in promising results in areas such as biologics and vaccines that increases the demand for protein assay kits and reagents and hence propel the growth of the market. 

The major players profiled in the report are Sartorius AG, Agilent Technologies, Inc., Thermo Fisher Scientific Inc., Perkin Elmer Inc., Meril Life Sciences Pvt. Ltd., Abcam PLC, Cell Signaling Technology, Merck KGaA, Bio-Rad Laboratories Inc, and Bio-Techne. 

Key findings of the study 

• Based on product type, the kits & reagents held the largest share in the protein assays market in 2022. 

• Based on technology, the absorbance-based protein assays dominated the market in 2022. 

• Based on application, the drug discovery and development dominated the market in 2022. 

• Based on end user, the pharmaceutical and biotechnology companies dominated the market in 2022 and are expected to remain dominant during the protein assays market forecast period.

• Based on region, North America garnered the largest protein assays market trends in 2022. However, Asia-Pacific is expected to witness the highest CAGR during the forecast period.