Protein Binding Assay Market ($694.63 Million by 2028) Growth Forecast at 10.7% CAGR During (2021-2028) – The Insight Partners

According to our new research study on “Protein Binding Assay Market to 2028 – Global Analysis and Forecast – by Technology, End User, and Geography,” the Protein Binding Assay Market Size is projected to reach US$ 694.63 million by 2028 from US$ 340.14 million in 2021; it is expected to grow at a CAGR of 10.7% during 2021–2028.

Protein Binding Assay Market: Competition Landscape and Key Developments
Thermo Fisher Scientific, Inc., Merck KGaA, Eurofins Scientific, General Electric Company, Sovicell GmbH, Pharmaron Beijing Co., Ltd., Biotium, Inc., MicroConstants, Inc. and Sartorius AG are among the key companies operating in the protein binding assay market. The leading market players are focusing on the new product launch, expansion and diversification, and acquisition  strategies, which allows them to tap into prevailing business opportunities.

In April 2020, Sartorius acquired the selected assets of Danaher Life Sciences. The transaction was completed after obtaining the necessary regulatory approvals.   

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In November 2020, Pharmaron Beijing Co., Limited acquired 100% assets of Absorption Systems, US, for up to US$ 137.5 million in cash. Absorption Systems is a leading scientific, non-clinical contract research organization (CRO) that provides small and large molecules, cell and gene therapies, and ocular and medical device products, among others, to pharmaceutical, biotechnology, and medical device companies; regulatory agencies; and research and testing organizations.

In 2020, North America dominated the global protein binding assay market. The market growth in the region is attributed to the elevation in research and development expenditures by the healthcare and life sciences companies in the region, especially in the US and Canada. After patent expiration, pharmaceutical and biotechnology companies face narrow profit margins, prompting manufacturers to reduce in-house R&D efforts by outsourcing these studies, such as through contract research organizations. According to Statistics Canada 2020, 6,280 companies are operating in Canada. The pharmaceuticals industry accounts for 41% and the research and development industry accounts for 31% of the total healthcare sector in the country. Such prominent presence of the pharmaceutical and R&D players, and CROs is bolstering the demand for protein binding assay products and solutions in North America.  

A clinical trial is a crucial and significant step in the determination of the safety and effectiveness of a medical strategy, treatment, and device for commercial usage. These studies also help understand and determine the best medical approaches for a particular therapeutic area. Before the approval of drug molecules or medical devices by the regulatory authorities, a series of clinical studies are conducted. The increasing prevalence of communicable and non-communicable diseases is triggering the demand for the development of new drugs and medical devices, which, in turn, propels the demand for the protein binding assay. As per the data from the US National Library of Medicine, in 2018, there were ~280,801 clinical studies ongoing in 50 states and 204 countries. The following figure shows the rise in the number of studies registered in period of year 2015 to 2020.

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Number of Registered Studies for Clinical Trials

Year First Posted	Studies at Start of Year	Studies During Year	Studies at End of Year
2015	181,304	24,130	205,434
2016	205,434	27,809	233,243
2017	233,243	29,198	262,441
2018	262,441	17,836	280,277
2019	293,275	32,519	325,794
2020	325,794	36,740	362,534

Source: Clinical Trials.gov and the Insight Partners Analysis

Furthermore, pharmaceutical, medical device, and biotechnology companies focus on research and development (R&D) activities to develop new molecules for therapeutic applications with the greatest medical and commercial potential. The companies invest majorly in the R&Ds intending to deliver high quality and innovative products to the market.

 

Top 10 Pharmaceutical R&D Spenders, 2019

Name of Company (R&D Budget as % of Revenue)	Name of Company (R&D Budget as % of Revenue)
1. F. Hoffmann La-Roche Ltd. (19.0%)	2. Johnson & Johnson Services, Inc. (13.8%)
3. Merck KGaA (21.1%)	4. Novartis AG (19.8%)
5. Pfizer, Inc. (16.7%)	6. Sanofi S.A (16.7%)
7. AbbVie, Inc. (19.0%)	8. Bristol Myers Squibb Company Limited (23.6%)
9. AstraZeneca Plc. (24.8%)	8. GlaxoSmithKline Plc (13.8%)

Source: PhRMA, The Insight Partner’s Analysis

In the early stages of the drug development process, protein binding assays are being developed. Because unbound circulating drugs have the best access to targets and excretion pathways, drug candidate binding to plasma proteins is crucial for drug distribution, efficacy, and safety margin definition. According to Statista, around 7,493 drugs entered the preclinical stage in 2017, and the number is estimated to reach 8,040 in 2018. As a result, the total number of drug candidates being screened each year is increasing. Protein binding studies, which are conducted early in the drug development process, are an important aspect of the preclinical phase. Hence, the rising drug discovery activities coupled with increasing pharmaceutical R&D expenditure drives the growth of the protein binding assay market.

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Protein Binding Assay Market: Segmental Overview
Based on technology, the protein binding assay market is segmented into ultracentrifugation ultrafiltration, equilibrium dialysis, surface plasmon, and others. In 2020, the equilibrium dialysis segment held the largest share of the market. However, the ultrafiltration segment is expected to register the highest CAGR in the protein binding assay market during 2021–2028. Equilibrium dialysis is one of the most widely accepted methods for evaluating protein binding, and it can be performed with the help of rapid equilibrium dialysis (RED) devices. Researchers prefer it as it has fewer binding effects to extraneous and unintended factors affecting research results. The equilibrium dialysis segment is expected to account for more than 36.90% share in the protein binding assay market in 2021. In terms of end user, the protein binding assay market is segmented into contract research organizations, pharmaceutical and biotechnology companies, and research and diagnostic laboratories. The market for the pharmaceutical and biotechnology companies segment is expected to grow at the fastest CAGR during the forecast period.   

 

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