Global Protein Chip Market - 2022-2029
The global protein chip market size was valued at US$ XX million in 2021 and is estimated to reach US$ XX million by 2029, growing at a CAGR of XX% during the forecast period (2022-2029).
Protein chips, also known as protein microarrays, are parallel assay systems with small amounts of purified proteins in a high-density format. They enable the determination of a wide range of analytes from small volumes of samples in a single experiment.
Protein chips, or protein microarray strategies, are a promising high-throughput technique used in disease rate monitoring and clinical diagnostics. While it has become a crucial tool for use in a wide range of biological tests in recent years, its widespread appeal is expected to come from clinical research, diagnostics, and drug discovery areas. The ever-increasing pervasiveness of malignancies is expected to remain a primary factor behind researchers' brisk acceptance of protein chips.
Massive investments in research and development will drive the market growth
Massive investments in research and development of these approaches have also aided market expansion. The increased incidences of cancer worldwide are another factor that is positively boosting the market. The increased popularity of advanced diagnostic testing has also resulted in developments in the protein chip sector. The rising number of ailments and the increasing quality of healthcare facilities would help the market grow and serve a large population.
Furthermore, factors such as the rising prevalence of cancer incidences, improved technology in diagnostic tests, and increased awareness about tailored medications are moving the protein chip market forward. High government initiatives and significant spending on research and development of these approaches all contribute to market expansion. Protein chips are also utilized to investigate the fundamental biology of many creatures based on gene expression, with sales in the United States totaling $731 million in 2016 and predicted to reach $ 2024 million by 2023. Furthermore, developed countries with sophisticated healthcare equipment and facilities, such as the United States, Canada, and Others, are likely to stimulate the protein chip market demand during the forecast period.
Protein chip technologies are quickly advancing, resulting in improved economics in some places, such as Asia. This element is projected to create a slew of new prospects for market expansion. Protein chips generate array patterns that are then translated into proteomic maps or fingerprints that reflect the detailed composition of the proteome. Protein expression profiling, biomarker identification, and disease diagnostics will be prioritized in the future years. These methods are predicted to impact biology, biotechnology, and high-throughput proteomics research significantly.These factors are likely to boost the protein chip market.
Proteins are scarce on the market, despite major investments by several companies is likely to hamper the market growth
There are several limitations in the worldwide protein chip market in different crucial areas, particularly in terms of generating proteins in a high-throughput manner. It's a scientific experimentation method that involves automating the screening of biological targets for activity. Aside from that, protein quality is important because it determines the quality of the generated protein microarrays. Proteins are scarce on the market, despite major investments by several companies. Proteins are greatly affected by changes in the microenvironment. Protein arrays must be kept in a stable form for long periods of time, which is a difficulty for market players. Low yields of consistent and reliable proteins have the potential to hinder future market growth.
COVID-19 Impact Analysis
The COVID-19 pandemic has had a favorable influence on the global protein chip sector. Due to COVID-19, there has been a surge in demand for protein microarray in diagnostic laboratories. In 2020, a digital protein microarray platform for quick multiplex quantification of cytokines from critically ill COVID-19 patients admitted to the University of Michigan Hospital's intensive care unit (ICU) assisted in a tailored strategy led by rapid cytokine assays in the United States. China created a SARS-CoV-2 proteome microarray in April 2020, which contained 18 of the 28 anticipated proteins and was used to characterize IgG and IgM antibody responses in 29 convalescent patients. These answers offer information that can be used to build more successful diagnostic, therapeutic, and vaccine techniques. The market is predicted to rise as a result of these advancements.
The analytical microarrays segment is expected to grow at the fastest CAGR during the forecast period (2022-2029)
According to technology, the analytical microarrays segment is predicted to increase rapidly during the projection period. The main aspects include the ability to multiplex fast kinetics and thus measurements and the possibility of functional integration. Increased investment in research and development of this technology will enable us to utilize the benefits of protein microarray in the future fully.
North America region holds the largest market share of the global protein chip market
North America is likely to lead the market over the forecast period among all other regions. The development of healthcare facilities due to government initiatives and the allocation of more funding has aided the growth of this sector. The noteworthy industry players in the biotechnology area and their collaborations to utilize the technology for new applications are projected to boost the expansion of the North American protein chips market.
North American region is developing novel treatment and diagnostic methods. Furthermore, rising death rates increased patient awareness of the availability of new protein chip procedures. Advanced healthcare infrastructure is expected to drive the growth of the protein chip market in North America.
Some of the key players which are contributing to the growth of the market include Raybiotech Inc, Illumina Inc, Bio-Rad Laboratories, Arrayit Corporation, Merck, Agilent Technologies, Perkin Elmer, Sigma Aldrich, Affymetrix, Ciphergen, among others. The key players are adopting several growth strategies such as product launches, acquisitions, and collaborations, which are contributing to the growth of the Protein Chip market globally. For instance, in February 2020, Atkins Protein Chips, a novel keto-friendly chip with protein instead of carbs, have been launched by Atkins Nutritionals, Inc.
Thermo Fisher Scientific Inc.
Thermo Fisher Scientific Inc. is a global provider of life sciences solutions, analytical instruments, specialty diagnostics, laboratory goods, and services. The Life Sciences Solutions segment of the company provides reagents, instruments, and consumables for biological and medical research, drug discovery, vaccine production, and infection and disease diagnosis to pharmaceutical, biotechnology, agricultural, clinical, healthcare, academic, and government markets.
Pierce Magnetic ChIP Kit: The Pierce Magnetic ChIP Kit includes enough reagents to run 30 chromatin immunoprecipitation (ChIP) tests with adequate controls following an optimized methodology. The kit includes reagents for cell lysis, protein-DNA complex capture, crosslinking reversal, and DNA isolation.
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