Protein Chip Market Size to Reach USD 1370.49 Million 2030 | Emergen Research
The global protein chip market size is expected to reach USD 1370.49 Million at a steady revenue CAGR of 7.5% in 2030, according to latest analysis by Emergen Research. Protein chip market revenue growth can be attributed to the rising demand for proteomics in life sciences research, drug discovery, and personalized medicine. Proteomics is a large-scale study of proteins that are expressed by the genome. In recent years, there has been an increasing focus on understanding the functions of proteins and their interactions with other biomolecules. This has led to the development of various techniques, such as two-dimensional gel electrophoresis, mass spectrometry, and nuclear magnetic resonance spectroscopy, to study proteins. Proteomics is used in a variety of life science applications, such as drug discovery, biomarker discovery, and personalized medicine.
Protein chips are biosensors that consist of an immobilized protein or antibody on a solid surface. These devices offer rapid and specific detection of proteins in samples, thereby find wide applicability in proteomics research. Increasing proteomics research activities to understand the structure and function of proteins is a key factor driving market growth. Proteins play an important role in numerous cellular processes and are associated with various diseases. Proteomics research is, therefore, gaining traction to develop diagnostic & therapeutic solutions for disease management.
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Additionally, government initiatives to support proteomics research are creating a positive outlook for market growth. For instance, the National Institutes of Health (NIH) in the U.S. has invested over USD 2.5 Billion in proteomics research under the American Recovery and Reinvestment Act of 2009 (ARRA).
However, the high cost of protein chips is a major factor restraining market growth. Protein chips are used for specialized applications and require skilled labor for their handling, which increases overall project costs. Additionally, the lack of skilled labor for handling these devices is another challenge faced by the market.
Some Key Highlights From the Report
- On 5 January 2022, Illumina and SomaLogic signed a definitive agreement to form a new, independent company that will develop and commercialize next-generation protein chips and associated software. Illumina will be the majority shareholder in the joint venture with an investment of $100 million.
- Analytical microarrays segment is expected to account for largest revenue share over the forecast period due to government initiatives to promote adoption of precision medicine and personalized healthcare.
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- The clinical segment is expected to grow at fastest CAGR over the forecast period due to rising adoption of protein chips in drug discovery, target identification, and toxicology studies.
- The antibody characterization segment is expected to account for larger revenue share in the global market over the forecast period, owing to the large number of ongoing research studies for the development of new antibodies and their use in various therapeutic applications. In addition, advancements in protein microarray technologies coupled with increasing demand for personalized medicine is expected to fuel growth of this segment over the forecast period.
- The North America region is expected to account for largest revenue share in the global market over the forecast period, owing to the presence of major market players in this region. In addition, increasing government funding for protein microarray research and development is expected to support growth of the protein chip market in North America over the forecast period.
- The Asia Pacific region is expected to witness fastest growth over the forecast period, owing to increasing healthcare expenditure and availability of advanced healthcare infrastructure in this region.
- Some of the major companies profiled in the global market report include Agilent Technologies, Inc., Bio-Rad Laboratories, Inc., Danaher, Illumina, Inc., Merck KGaA, Arrayit Corporation, PerkinElmer Inc., Quotient, RayBiotech Life, Inc., Thermo Fischer Scientific, Inc.
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Emergen Research has segmented the global protein chip market on the basis of technology, application, end-use, and region:
- Technology Outlook (Revenue, USD Million; 2019–2030)
- Analytical Microarrays
- Functional Protein Microarrays
- Reverse Phase Protein Microarrays
- Application Outlook (Revenue, USD Million; 2019–2030)
- Antibody Characterization
- End-Use Outlook (Revenue, USD Million; 2019–2030)
- Hospitals & Clinics
- Diagnostic Laboratories
- Academic & Research Institutes
- Pharmaceutical & Biotechnological Companies
- Regional Outlook (Revenue, USD Million; 2022-2030)
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of APAC
- Latin America
- Rest of LATAM
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of MEA
- North America
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