Dublin, Sept. 08, 2023 (GLOBE NEWSWIRE) -- The "Protein Chip Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2023-2030 - By Product, Technology, Grade, Application, End-user and Region (North America, Europe, Asia Pacific, Latin America and Middle East and Africa)" report has been added to ResearchAndMarkets.com's offering.
The global protein chip market is undergoing rapid growth, primarily driven by the increasing prevalence of chronic diseases and the escalating demand for advanced treatment options.
The evolution of the healthcare sector has played a pivotal role in fueling the market's expansion, owing to the growing necessity for enhanced disease monitoring and clinical diagnostics.
A distinctive feature that has contributed significantly to the market's growth is the protein microarray method, which enables a wide range of analyses within a single experiment. Preliminary findings from Fairfield Market Research suggest that the high global incidence of cancer is expected to be a significant driving factor for the protein chip market.
Impact of COVID-19 and Cancer Prevalence on the Protein Chip Market:
The outbreak of COVID-19 has underscored the critical role of diagnostics in containing the pandemic. Consequently, there has been a surge in demand for functional analysis methods. As researchers focus on identifying protein-virus interactions through various testing methods, functional analysis has emerged as a lucrative growth area.
Cancer, a leading cause of reduced life expectancy globally, remains a significant health challenge. The World Health Organization (WHO) reported over 19 million new cancer cases and approximately 10 million cancer-related deaths in 2020. Protein chips play a crucial role in efficient cancer diagnosis by enabling fast and straightforward diagnostics through parallel tracking of diverse protein interactions, targets, small molecules, protein kinases' substrates, and protein-phospholipid interactions.
This is expected to drive substantial demand for protein chips. The broad application spectrum of protein chips in molecular biology and biochemistry, coupled with the growth of personalized medicine, further amplifies their significance in the healthcare industry.
Proteomics as a Leading Application:
Proteomics emerged as the leading application for protein chips in 2019 and is expected to maintain this position in the foreseeable future. Its extensive usage in biomedical research and drug discovery is anticipated to be a major revenue contributor to the market. Proteomics is integral to various techniques, including chromatography, x-ray crystallography, protein fractionation, spectroscopy, surface plasmon resonance, and electrophoresis. Its ability to offer precise analysis of in-vivo outcomes positions it as a crucial tool for studying tumour resistance mechanisms, disease pathogenesis, and therapeutic advancements.
Regional Outlook: North America and Europe Taking the Lead:
From 2021 to 2026, North America is projected to maintain its dominance in the global protein chip market. Established biotech companies in the region are anticipated to make significant investments in innovative technology research and development. Europe is also poised for positive growth, driven by the rising incidence of cancer and the ongoing impact of COVID-19, prompting swift responses. Asia Pacific is expected to closely follow this trajectory, with the adoption of protein chips for diagnostics presenting promising opportunities.
Key Players in the Market:
The competitive landscape of the global protein chip market is shaped by key players such as Sigma Aldrich Corporation, Affymetrix, Inc., Biacore, SEQUENOM, Inc., Illumina, Inc., Agilent Technologies, HTS Biosystems, EMD Millipore, Life Technologies Corporation, Lumicyte, and Ciphergen Biosystems. These companies contribute significantly to the advancements and innovations driving the protein chip market's growth.
For more information about this report visit https://www.researchandmarkets.com/r/d0h3s5
About ResearchAndMarkets.com
ResearchAndMarkets.com is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.
