Newark, March 16, 2023 (GLOBE NEWSWIRE) -- The Brainy Insights estimates that the USD 1.34 billion in 2022 Protein chip market will reach USD 3.07 billion by 2032. Long-term sun exposure and increased rates of alcohol and cigarette use have all contributed to the rising cancer rates. The global obese population has increased, which has contributed to the rise in the diabetic population as well. This increase is attributed to the unhealthy lifestyle associated with processed food intake, no exercise and a sedentary work environment. Obesity and diabetes increase the risk of cancer. Additionally, the ageing elderly population significantly impacts the rising number of cancer patients.
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According to the Centre for Disease Control and Prevention (CDC), there were over 500,000 cancer-related fatalities and around 1.7 million new cancer diagnoses in the US in 2019. For every 100,000 people in the US, there are 439 new cases of cancer and 146 cancer-related deaths each year. Given the widespread usage of protein chips in biomarker identification, the development of targeted cancer medicines will fuel the growth of the worldwide protein chip market. The increased focus on molecular biology research and development by private and public companies will also contribute significantly to the market's growth. The expansion of the global protein chip market will also be aided by simplifying regulatory procedures and major financial investments in healthcare infrastructure.
Key Insight of the global protein chip Market
North America is expected to dominate the market during the forecast period.
Due to the increased incidence of cancer, North America now dominates the global market for protein chips. Given the increased rate of obesity, sedentary lifestyle, excessive intake of processed sugary foods, and lack of physical activity, the prevalence is on the rise. Significant industry players and premier academic and research institutes also contribute to the regional market's expansion. The regional protein chip market is also expanding due to the expanding number of contract research organizations, or CROs, which provide the pharmaceutical and biotechnology sectors with the necessary knowledge and assistance on a contract basis.
In 2022, the analytical protein microarrays segment dominated the market with the largest market share of 48% and market revenue of 0.64 billion.
The technology segment is divided into analytical protein microarrays, functional protein microarrays, and reverse-phase protein microarrays. In 2022, the analytical protein microarrays segment dominated the market with the largest market share of 48% and market revenue of 0.64 billion.
In 2022, the antibody characterization segment accounted for the largest share of the market, with 54% and a market revenue of 0.72 billion.
The application is divided into diagnostics, antibody characterization, proteomics, and others. In 2022, the antibody characterization segment accounted for the largest share of the market, with 54% and a market revenue of 0.72 billion.
In 2022, the academic and research institutes segment accounted for the largest market share, with 37% and a market revenue of 0.49 billion.
The end user is divided into hospitals and clinics, academic and research institutes, diagnostic laboratories, pharmaceutical and biotechnology companies and others. In 2022, the academic and research institutes segment accounted for the largest market share, with 37% and a market revenue of 0.49 billion.
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Advancement in market
January 2023 - To improve capabilities and capacity for developing and producing diagnostics and life sciences products, SCHOTT opened its first factory in the US. The construction of a brand-new facility in the state of Arizona is a strategic move intended to increase market size. Custom DNA, protein, and other microarray biosensors will be made using it. SCHOTT MINIFAB provides a wide range of contract design and manufacturing options for quick diagnostic devices to enable precise treatments and therapies. The new factory expands its capabilities in Germany and Australia, allowing SCHOTT MINIFAB to cooperate locally with clients. One of SCHOTT's main strategic focus areas is enabling businesses to create cutting-edge life science research tools and sophisticated diagnostics that explore the subtleties of genetic and proteomic markers linked to disease.
Market Dynamics
Driver: Cancer's rising frequency and prevalence
The population's way of life has undergone a substantial transformation in the modern world. Alcohol usage, smoking, and substance abuse are all on the rise. Also, the modern world is based on a sedentary way of life, which has resulted in a lack of physical activity. A poor diet consisting of highly processed, sugary, and innutritious food from expanding fast-food retail chains has made global health worse. The prevalence of diabetes is also a result of this diet. Furthermore, environmental issues, including air pollution and previous factors, have increased cancer incidence. As every cancer is unique, managing or curing it requires a customized or focused therapy approach. An early cancer diagnosis is the first step in lowering the burden of the disease or stopping its growth in its early stages. The expanding use of protein chips in cancer research and diagnostics can be attributed to rising disease awareness and a strong diagnostic infrastructure. Protein chips are a highly efficient and affordable technique for finding biomarkers in cancer cells, essential for devising a treatment plan. Identifying biomarkers or protein arrays enable the oncologist to create a successful, patient-specific treatment strategy. Protein chips can also be used to analyze biomarkers and their interactions with medications or treatments, giving doctors insightful information about how well their treatment plans function. This makes it possible to modify treatment programmes, intervene early, track progress, and deliver positive outcomes in the best possible way. As a result, the expansion of the worldwide protein chip market will be fueled by the rising incidence and prevalence of cancer.
Restraint: Acquiring substantial and high-quality protein samples is difficult
Proteins must be retrieved from living things since they are minuscule and lose shape, order, and form in an unfamiliar environment. Collecting enough samples for analysis is challenging because of their extreme instability. Given the small volume, some of the biggest obstacles facing the protein chip market are the lack of sampling data and the complexity of analyzing samples. Additionally, considering the samples' dynamic range and the protein chip technology novelty, there is a higher risk of high false positivity due to non-standard sample processing. Furthermore, it is difficult to compile an exhaustive analysis due to the difficulty in accessing the analytic software and the complexity of protein tests. Hence, the market expansion will be hampered by these inherent problems with protein chip technology.
Opportunities: Increasing research and development to advance the technology of protein chips
All organisms carry protein. Every medical research must start with understanding protein structure, organization, and interactions with the environment and other elements. The scientific community can unravel the secrets of the human body or the living world with a greater grasp of proteins. It enables individuals to better understand how the human body functions. A deeper understanding of how various ailments, diseases, disorders, and viruses affect people. This understanding helps in preventing or treating several diseases and illnesses. The development of protein chip technology can aid in illness monitoring, drug discovery, prognosis, and other pertinent medical studies. One excellent illustration of this technology's future promise for medicine is its successful use in the diagnosis, disease monitoring, vaccine, and therapeutic development during the COVID-19 pandemic. Growing demand for protein chips has prompted public and private market participants to invest more in research and development, creating an attractive market growth potential throughout the forecast period.
Challenge: Expensive protein chip
It costs a lot of money to manufacture protein chips. Also, the recurring capital with every sample is high, which adds to the maintenance or working costs. Moreover, access to this revolutionary technology is restricted in low- and middle-income countries, which excludes a sizeable portion of the consumer market. Thus, the high price of protein chips will hamper the market's expansion.
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Some of the major players operating in the global protein chip market are:
• Agilent Technologies Inc.
• Arrayit Corporation
• Bio-Rad Laboratories Inc.
• DANAHER CORPORATION
• Illumina Inc.
• Merck KGAA
• PerkinElmer Inc.
• QUOTIENT LIMITED
• RayBiotech Life Inc.
• Thermo Fisher Scientific Inc.
Key Segments cover in the market:
By Technology
• Analytical Protein Microarrays
• Functional Protein Microarrays
• Reverse Phase Protein Microarrays
By Application
• Diagnostics
• Antibody Characterization
• Proteomics
• Others
By End User
• Hospitals and Clinics
• Academic and Research Institutes
• Diagnostic Laboratories
• Pharmaceutical and Biotechnology Companies
• Others
By Region
• North America (U.S., Canada, Mexico)
• Europe (Germany, France, the UK, Italy, Spain, Rest of Europe)
• Asia-Pacific (China, Japan, India, Rest of APAC)
• South America (Brazil and the Rest of South America)
• The Middle East and Africa (UAE, South Africa, Rest of MEA)
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About the report:
The market is analyzed based on value (USD Billion). All the segments have been analyzed worldwide, regional, and country basis. The study includes the analysis of more than 30 countries for each part. The report analyses driving factors, opportunities, restraints, and challenges to gain critical market insight. The study includes porter's five forces model, attractiveness analysis, Product analysis, supply, and demand analysis, competitor position grid analysis, distribution, and marketing channels analysis.
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