New York, USA, Dec. 19, 2022 (GLOBE NEWSWIRE) -- Protein Chip Market Overview
According to a Comprehensive Research Report by Market Research Future (MRFR), “Protein Chip Market Information by Type, Application and End User, and Region - Forecast till 2030”, the market size is projected to be worth USD 1.53 billion by 2030, registering a CAGR of 6.71% during the forecast period (2022 - 2030).
Market Synopsis
Due to the rising popularity of protein chips in recent years, the market for them is expected to grow rapidly in the years to come. Additionally, there has been a noticeable rise in the amount of money spent on R & D activities for product creation. Additionally, an increase in cancer cases around the globe will support market demand.
Due to ongoing lifestyle changes, there has been a considerable rise in the number of diseases in recent years. Additionally, it has been predicted that rising healthcare service quality will promote market expansion potential globally in the years to come. Opportunities will also arise in the near future as our understanding of customized medicine expands and more modern technology is used in diagnostic procedures.
Rising public awareness of customized medicine, the growth of infectious diseases, and increasing government financing for the expansion of the healthcare industry are just a few of the reasons why MRFR anticipates the Asia Pacific region to exhibit the greatest CAGR throughout the projected period. The Asia Pacific Protein Chip Market is being propelled by rising awareness of the benefits of personalized medicine over conventional medical treatments. Additionally, the area has a high prevalence of infectious diseases such as the flu, TB, and pneumonia.
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Report Scope:
| Report Attribute | Details |
| Market Size in 2030 | USD 1.53 Billion |
| CAGR | 6.71% |
| Base Year | 2021 |
| Forecast Period | 2022-2030 |
| Historical Data | 2020 |
| Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | By Type, Application and End User. |
| Geographies Covered | North America, Europe, Asia-Pacific, and Rest of the World (RoW) |
| Key Market Drivers | Growing demand for personalized medicine |
| Increasing application of protein chip in infectious disease |
Competitive Landscape:
The important participants in the protein chip industry are
- Sengenics (US)
- Thermo Fisher Scientific Inc. (US)
- Microarrays Inc. (US)
- Agilent Technologies, Inc. (US)
- Bio-Rad Laboratories, Inc. (US)
- Full Moon BioSystems, Inc. (US)
- CDI Laboratories Inc. (US)
- OriGene Technologies, Inc. (US)
- Innopsys (France)
The protein chip market is very fragmented. The existence of certain regional and international companies further defines the market. Additionally, the market players are concentrating on a variety of methods to help them reach their intended profitability, build their brands, and gain a foothold in emerging markets. These industry players also focus on improving their offerings in order to attract a sizable customer base. During the projection period, it is anticipated that new product releases, agreements or collaborations, the development of company networks, and mergers and acquisitions will all contribute to growth opportunities in the global market.
- In March 2022 Sengenics officially unveiled the i-Ome Protein Array Kit. The high-density, slide-based protein microarrays in the i-Ome Protein Array Kit contain 1600+ immobilised, fully extended, appropriately folded human proteins.
Protein Chip Market Dynamics:
Market Drivers:
The rise in demand for proteomics in life sciences research, drug development, and personalised medicine is responsible for the revenue growth of the protein chip industry. A thorough investigation of proteins that are produced by the genome is called proteomics. Understanding how proteins work and how they interact with other biomolecules has received more attention in recent years. As a result, numerous methods for studying proteins have been developed, including mass spectrometry, nuclear magnetic resonance spectroscopy, and two-dimensional gel electrophoresis. Numerous life science fields, including medication development, the search for biomarkers, and personalised treatment, use proteomics.
The booming biomedical and biotechnology sectors will also contribute to a rise in the market's demand for protein chips. As a result, it is predicted that this trend will help the global protein chips market grow the fastest, particularly in the APAC region. This is primarily because of the rising population in combination with the rise in infectious diseases, the advancement of technology, and the growing awareness of target-oriented drug delivery therapies for the treatment of cancer.
Market Restraints:
One of the main barriers to the market for protein chips is the automated screening of targets utilizing these chips because they are system-based and the output is entirely dependent on the input. The lack of protein availability in the market despite substantial investments would be another barrier for this industry.
Browse In-depth Market Research Report (120 Pages) on Protein Chip: https://www.marketresearchfuture.com/reports/protein-chip-market-11067
COVID-19 Analysis
During the first half of 2020, the COVID-19 pandemic had a detrimental impact on the protein chip market. Several governments implemented lockdowns and shutdowns during this time. As a result, the market's manufacturing and supply chains were disrupted.
However, there has been a significant increase in demand for protein chip technology for use in the creation of the COVID-19 vaccine. Antibody responses in COVID-19 patients are thoroughly analysed using a SARS-CoV-2 multi-antigen protein chip. The protein chip is one of the best tools for assessing the antibodies in the blood because of its fast, multiplexed, and sensitive capabilities. It helps in the early detection of diseases including cancer, autoimmune conditions, and other infectious diseases. Consequently, the protein chip market experienced success.
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Protein Chip Market Segmentation
By Type
Functional Protein Microarrays, Reverse Phase Protein Microarrays and Analytical Microarrays are the major types of protein chips in the worldwide market.
By Application
applications of protein chips include Clinical Diagnostics, Proteomics as well as Protein Identification.
By End User
Key end-users in the worldwide industry are Diagnostic Laboratories, Hospitals & Clinics, Pharmaceutical & Biotechnology Companies, and Academic & Research Institutes.
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Protein Chip Market Regional Insights
Due to factors like rising public awareness of customized medicine, an increase in the transmission of infectious diseases, and rising government financing for the expansion of the healthcare industry, the Asia Pacific region will exhibit the highest CAGR throughout the projected period. The Asia Pacific Protein Chip Market is being propelled by rising awareness of the benefits of personalized medicine over conventional medical treatments. Additionally, the region has a high prevalence of infectious diseases such as the flu, TB, and pneumonia.
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