Rapid developments in pharmaceutical and biotechnological industries is driving revenue growth of the market
The global protein binding assay market size is expected to reach USD 710.8 million by 2028 at a CAGR of 10.8%, according to the report by Reports and Data. Global protein binding assay market revenue growth is expected to increase rapidly owing to rapid developments in pharmaceutical and biotechnological industries, increasing drug development procedures, and rising expenditure in healthcare industries over the forecast period. Moreover, rising prevalence of various genetic disorders is another factor contributing to the revenue growth of the market.
Protein binding assay is a procedure that helps in analyzing interaction between the two types of proteins. It is gaining traction owing to its extensive usage in the process of new drug development. In the process of protein binding assays, thermophoresis techniques are being used widely for analyzing the interaction between proteins. Moreover, this enables identification and provides researchers and scientists with invaluable information regarding the reaction between two proteins or other biomolecules. Protein binding assays aid in enhancing the therapeutic effects of compounds and help in reducing the amount of target molecule. This is one of the major factors fueling revenue growth of the market.
Leading companies operating in the market and profiled in the report include: Charles River; Sovicell GMBH; Thermo Fisher Scientific, Inc.; Absorption Systems LLC; Eurofins Scientific; GE Healthcare; 3B Pharmaceuticals; Evotec (Cyprotex); Creative Biolabs; and Bioduro.
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Some key findings in the report
- Based on technology, the market is segmented into ultrafiltration, equilibrium dialysis, ultracentrifugation, and others. The equilibrium dialysis segment is expected to account for largest revenue share in the global market between 2021 and 2028. Factors attributed to steady revenue growth of this segment are various advantages of this technology such as low costs, physical simplicity, and high accuracy.
- The instruments segment is expected to register fastest revenue CAGR in the global market during the forecast period. This is attributed to increasing demand for user-friendly, automated systems, which aid in determining the distribution capacity of several drug candidates.
- Based on end-use, the contract research organizations segment is dominating other segments in terms of revenue share in the market. The segment’s dominance is resultant of rising need for cost-effective protein binding services.
- North America market revenue is expected to increase significantly in the global market going ahead, owing to increasing R&D investments, presence of leading biotechnology and pharmaceutical companies, and well-established pharmaceutical industry in countries in this region.
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Dominant key players in the market are adopting various strategies like mergers and acquisition, partnerships, collaborations, joint ventures and product launches to gain a robust footing in the market. Growing demand for various medical products, increasing adoption of home-care settings, point-of-care diagnosis, high demand for vaccines and medication for controlling COVID-19 is expected to benefit the key companies throughout the forecast period.
Global Protein Binding Assays Market Segmentation:
Technology Outlook (Revenue, USD Million, 2018 - 2028)
- Equilibrium dialysis
- Other technologies (chromatography (size exclusion/gel filtration), surface plasmon resonance, and transil partitioning)
End Use Outlook (Revenue, USD Million, 2018 – 2028)
- Pharmaceutical & biotechnology companies
- Contract research organizations (CROs)
- Other end users (academic institutes and government organizations)
The global Protein Binding Assays market is broadly divided into 5 major regions, viz. North America, Europe, Asia Pacific, Latin America and Middle East & Africa.
- 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
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