Protein Chip Market Size to worth $3.55 billion by 2031, growing at a CAGR of 6.9%, says Coherent Market Insights
Burlingame, Sept. 19, 2024 (GLOBE NEWSWIRE) -- The global Protein Chip Market Size to Grow from USD 2.23 Billion in 2024 to USD 3.55 Billion by 2031, at a Compound Annual Growth Rate (CAGR) of 6.9% during the forecast period, as highlighted in a new report published by Coherent Market Insights. Growing focus on personalized medicine is boosting adoption of protein chips for proteomic analysis and disease diagnostics. Protein chips provide insights on molecular-level disease pathways, which help develop targeted therapies tailored to individual patients.
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Market Dynamics:
The growth of the protein chip market is driven by technological advancements in protein chip development and increasing applications of protein chips in proteomics research and disease diagnosis. Protein chips offer high-throughput analysis of thousands of proteins simultaneously, making it an attractive technology for disease biomarker discovery and diagnosis. Technology advances such as miniaturization and automation have increased protein binding capacities and detection sensitivity of protein chips. This has enhanced their utilization in biomedical research for studying protein-protein interactions, expression profiling, and screening of potential drug targets.
Protein Chip Market Report Coverage
| Report Coverage | Details |
| Market Revenue in 2024 | $2.23 billion |
| Estimated Value by 2031 | $3.55 billion |
| Growth Rate | Poised to grow at a CAGR of 6.9% |
| Historical Data | 2019–2023 |
| Forecast Period | 2024–2031 |
| Forecast Units | Value (USD Million/Billion) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | By Type, By Application, By Detection Technique, By End-user |
| Geographies Covered | North America, Europe, Asia Pacific, and Rest of World |
| Growth Drivers | • Growing healthcare needs and preventive care • Personalized medicine and companion diagnostics |
| Restraints & Challenges | • Availability of alternative technologies • High costs involved |
Market Trends:
Multiplexing technology allows testing of multiple protein samples and analytes on a single protein chip. This significantly enhances throughput and analysis of large sample sets. Incorporation of multiplexing has widened the applications of protein chips beyond proteomics tofields such as drug discovery, clinical diagnosis and biodefense. Many research labs and universities are increasingly adopting multiplexing protein chips for evaluating disease biomarkers.
Biochip manufacturers are actively collaborating with academic research institutes and pathology labs to develop customized protein chips tailored to their specific research applications. This helps address the need for protein chips designed for analyzing distinct protein subsets involved in diverse disease conditions. Ongoing collaborations also provide early adopter advantages to academic institutes and assist manufacturers in strengthening their product portfolios.
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The analytical microarrays segment is expected to hold the largest share of the global protein chip market during the forecast period. Analytical microarrays are used for high-throughput protein expression and interaction analysis. They are capable of capturing thousands of protein interactions on a single microarray slide. Rising demand for novel diagnostic and therapeutic targets is contributing to the growth of this segment.
The functional protein microarrays segment is anticipated to witness the highest CAGR over 2024-2031. These protein chips assist in assessing protein function by analyzing protein-protein, protein-DNA, and protein-ligand interactions. Growing applications of functional protein microarrays in proteomics research and drug discovery are fueling the segment growth.
The antibody characterization application segment accounted for the largest revenue share in 2024 owing to increasing research activities in disease proteomics and drug discovery. Protein chips help analyze antibodies and characterize protein interactions rapidly. This is positively impacting the growth of this segment.
The fluorescence detection technique dominated the global market in 2024 as it offers high sensitivity and allows multiplexing capabilities. Protein chips with fluorescence detection are widely used in key application areas such as proteomics and drug discovery. Integration of fluorescence into protein microarray platforms is augmenting the growth of this segment.
Key Market Takeaways:
The global protein chip market is projected to witness a CAGR of 6.9% during 2024-2031. Growing proteomics research and increasing demand for personalized therapeutics are driving the market.
By type, analytical microarrays held the highest share in 2024 due to their ability to capture thousands of protein interactions simultaneously.
Based on application, the antibody characterization segment dominated the market owing to rising research evaluating disease proteomics.
On the basis of detection techniques, fluorescence led the market as it provides high sensitivity for protein expression analysis.
Regionally, North America is expected to dominate the protein chip market through 2031 because of strong presence of key players and advancing biotechnology infrastructure.
Some of the prominent players operating in the protein chip market are Agilent Technologies, PerkinElmer, Bio-Rad Laboratories, Thermo Fisher Scientific, Illumina, and Shimandzu Corporation among others. Strategic collaborations and new product launches are the commonly adopted strategies by companies to gain competitive edge.
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Recent Developments:
In July 2024, Herblife, launched its latest product, Protein Chips, in the U.S. and Puerto Rico. These new protein snacks offers a tasty. Savory, and convenient option for consumers looking to meet their daily nutritional needs while enjoying a healthy treat.
In January 2024, Agilent Technologies, introduced the ProteoAnalyzer system, a cutting-edge automated parallel capillary electrophoresis platform designed to streamline protein analysis.
Detailed Segmentation:
By Type:
- Analytical Microarrays
- Functional Protein Microarrays
- Reverse Phase Protein Microarrays
- Others
By Application:
- Antibody Characterization
- Clinical Diagnostics
- Proteomics
- Others
By Detection Technique:
- Fluorescence
- Chemiluminescence
- Mass Spectrometry
- Electrical
- Others
By End User:
- Hospitals & Clinics
- Diagnostic Laboratories
- Academic & Research Institutes
- Pharmaceutical & Biotechnology Companies
By Region:
North America:
- U.S.
- Canada
Latin America:
- Brazil
- Argentina
- Mexico
- Rest of Latin America
Europe:
- Germany
- U.K.
- Spain
- France
- Italy
- Russia
- Rest of Europe
Asia Pacific:
- China
- India
- Japan
- Australia
- South Korea
- ASEAN
- Rest of Asia Pacific
Middle East:
- GCC Countries
- Israel
- Rest of Middle East
Africa:
- South Africa
- North Africa
- Central Africa
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Author Bio:
Ravina Pandya, PR Writer, has a strong foothold in the market research industry. She specializes in writing well-researched articles from different industries, including food and beverages, information and technology, healthcare, chemical and materials, etc. With an MBA in E-commerce, she has an expertise in SEO-optimized content that resonates with industry professionals.
About Us:
Coherent Market Insights is a global market intelligence and consulting organization that provides syndicated research reports, customized research reports, and consulting services. We are known for our actionable insights and authentic reports in various domains including aerospace and defense, agriculture, food and beverages, automotive, chemicals and materials, and virtually all domains and an exhaustive list of sub-domains under the sun. We create value for clients through our highly reliable and accurate reports. We are also committed in playing a leading role in offering insights in various sectors post-COVID-19 and continue to deliver measurable, sustainable results for our clients.
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