Protein Binding Assay Market: Growing Drug Discovery Activities Drive Protein Binding Assay Market Growth

The protein binding assay market is projected to reach US$ 694.63 million by 2028 from US$ 340.14 million in 2021; it is estimated to grow at a CAGR of 10.7% from 2021 to 2028.

Protein binding assays assist in analyzing the interaction between two types of proteins. These assays are widely used in the new drug development process.

The protein binding assay market is segmented on the bases of technology, end user, and geography. By geography, the market is broadly segmented into North America, Europe, Asia Pacific, the Middle East and Africa, and South and Central America. The report offers insights and in-depth analysis of the market, emphasizing on parameters such as market trends, technological advancements, and market dynamics, along with the analysis of competitive landscape of the globally leading market players. 

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Protein Binding Assay Market: Competitive Landscape and Key Development

A few prominent players operating in the protein binding assay market are Thermo Fisher Scientific, Inc., Merck KGaA, Eurofins Scientific, General Electric Company, Sovicell GmbH, Pharmaron Beijing Co., Ltd., Biotium, Inc., MicroConstants, Inc. and Sartorius AG.

Companies are adopting organic and inorganic growth strategies to sustain their position in the protein binding assay market. 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.

Based on technology, the global 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 market during 2021–2028. Equilibrium dialysis is among 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 this method as it has fewer binding effects to extraneous and unintended factors affecting research results.           

The pace of research and development of drugs and vaccines against the disease has increased during the COVID-19 pandemic. Protein binding is one of the key biochemical phenomena studied during the drug development process, as the cell receptors to which antigens on the infectious agents or drug molecules attach are mostly proteinic in nature. Thus, the pharmaceutical and biotechnological companies investing in product innovations frequently need protein binding assay materials and equipment.

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Growing Drug Discovery Activities Drive Protein Binding Assay Market Growth

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.

1. Number of Registered Studies for Clinical Trials

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.

 The R&Ds intending to deliver high quality and innovative products to the market.

2. Top 10 Pharmaceutical R&D Spenders, 2019

Drug discovery and development is a costly process as it requires investments in funding, human resources, and technologies. Before launching a new drug in the market, strict adherence to regulations on testing and manufacturing standards is required. Furthermore, the failure of drug candidate during the development stage results in the wastage of entire investment. Protein binding studies assist in assessing binding and absorption capabilities in preclinical phases, resulting in lower drug attrition in the later stages of development, which helps optimize drug discovery expenses. Thus, rising need of reducing the cost of drug discovery and development process is fueling the protein binding assay market growth.

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