Protein Chip Market Highlights
According to MRFR analysis, the global protein chip market is expected to register a CAGR of 6.71% from 2022 to 2030 and hold a value of over ~USD 1.53 billion by 2030.
The global protein chip market trends is driven by several factors, such as rising incidences and prevalence of cancer, developments in protein chip assays, and the increasing application of protein chips in infectious disease. There is an increasing prevalence of infectious diseases such as coronavirus, chickenpox, dengue, and diphtheria across the globe. There are numerous methods used to diagnose and treat infectious diseases in patients. The protein chip technology enhances the efficiency in diagnosing various diseases. It plays an increasingly important role in the discovery of diagnostic markers, vaccines, and therapeutics for infectious diseases. For instance, a protein chip is being used for displaying peptides and proteins representing antigens from SARS-CoV-2 as well as other coronaviruses.
The players in the global protein chip market are focusing on new product development, partnerships, and acquisitions. For instance, in March 2022, Sengenics launched the i-Ome Protein Array Kit with KREX technology that will help researchers identify autoantibody biomarkers.
Regional Analysis
North America is likely to dominate the market of protein chip, owing to the rise in the number of cancer patients and the well-developed healthcare infrastructure in the region. For instance, according to the Centers for Disease Control and Prevention, in the year 2019, a large number of cancer cases were reported in the US. Additionally according to Canadian Cancer Statistics, 2 in 5 Canadians are predicted to receive a cancer diagnosis during their lifetime, and 1 in 4 will die from the disease. These factors are fueling the expansion of the region's protein chip market.
Europe is likely to account for a significant market share in the protein chip due to increasing government initiatives and funding in genomic and proteomic research. For instance, in April 2022, the Danish National Genome Center partnered with Lifebit to deliver nationwide personalised medicine.
Asia-Pacific is projected to be the fastest-growing regional market during the forecast period due to factors such as high demand for protein chips in various diagnostic applications and a rise in the awareness of personalized medicine in the region. Similarly, the COVID-19 pandemic augmented the demand for protein chip technology across research laboratories and academic institutes throughout the region.
Furthermore, the growth of the market in the rest of the world is slower compared to the other regions due to the lack of healthcare infrastructure and limited research activities. However, the cost effectiveness of the protein chip technology is expected to drive the regional protein chip market.
Segmentation
The global protein chip market insights has been segmented into type, application and end user.
Based on type, the market has been segmented into analytical microarrays, functional protein microarrays, and reverse phase protein microarrays. The analytical microarrays segment expected the largest market share in 2021 due to an increase in the adoption of analytical microarrays by leading pharmaceutical and biopharmaceutical companies for various applications.
Based on application, the market has been segmented into protein identification, clinical diagnostics, proteomics, and others. The protein identification segment expected the largest share of the market in 2021 due to the increasing use of protein chips for capturing and measuring proteins from biologic samples.
Based on end users, the market has been segmented into hospitals & clinics, diagnostic laboratories, academic & research institutes, and pharmaceutical & biotechnology companies. Academic and research institutes expected the largest market share in 2021 due to a rise in the use of microarrays in drug discovery and research applications.
Key Players
Some of the key market players are Sengenics (US), Thermo Fisher Scientific Inc. (US), Microarrays Inc. (US), Agilent Technologies, Inc. (US), Bio-Rad Laboratories, Inc. (US), Full Moon BioSystems, Inc. (US), CDI Laboratories Inc. (US), OriGene Technologies, Inc. (US) and Innopsys (France).
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