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The protein assay should be selected, keeping the appliance in mind. Different protein assays are available on the market, varying in supported methodology, specificity, sensitivity, quantity, and reproducibility. Estimating protein concentration may be a crucial step in processes for protein purification, biology, cell biology, electrophoresis, and other research applications. Although many research and development activities were conducted and are currently being conducted with the aid of protein assays, they played a significant role in understanding the mechanism of the virus. This is anticipated to have a positive impact on the protein assay market.
Key Growth Drivers:
- Increased funding in research and development surges the demand
The favourable government funding climate for proteomics research and the sizeable investment made in numerous research and development projects that are funded by both public and private sources. Increased spending on research and development will help pharmaceutical and biotech companies dominate the market. Through its numerous applications in pre-clinical, clinical, and later stages of drug development, the protein assay market is also anticipated to experience high demand. Furthermore, it is anticipated that Europe will see a quick rise as a result of the region's significant investment in a range of publicly and privately funded research and development initiatives as well as the region's consistently rising spending on the advancement of the pharmaceutical and biotechnology industries will fuel market expansion.
- Rapid development in the infrastructure of healthcare drives the market
The market for protein assays is anticipated to increase due to the infrastructure that supports healthcare. Medical professionals with specialized training, such as doctors and nurses and advanced pharmaceutical companies make up the infrastructure known as healthcare. Since protein assays are helpful for the diagnosis of numerous conditions, such as kidney, cardiovascular, and cancers, the growth of the healthcare sector will be a key factor in the market for protein assays. For instance, according to a report released in November 2022 by the Organization for Economic Co-operation and Development (OECD), a France-based intergovernmental organization designed to promote economic growth and international trade, health spending as a percentage of GDP increased across OECD countries from 8.8% in 2019 to 9.7% in 2020.
The report outlines the involvement of key players, including:
BD (U.S.), F. Hoffmann-La Roche Ltd (Switzerland), Thermo Fisher Scientific Inc. (U.S.), Bio-Rad Laboratories, Inc. (U.S.), Novus Biologicals (U.S.), Merck KGaA (Germany), BioVision Inc (U.S.), Cell Signaling Technology, Inc. (U.S.), Cytiva (U.S.), Abcam plc. (U.K.), PerkinElmer Inc. (U.S.), QIAGEN (Germany), G-Biosciences (U.S.), Lonza (Switzerland), Bio-Techne (U.S.), Illumina, Inc. (U.S.), New England Biolabs (U.S.), Takara Bio Inc (Japan), Promega Corporation (U.S.), Elabscience Biotechnology Inc. (U.S.)
Key Market Segmentation
Product (Reagents, Kits, Instruments, Accessories), Technology (Colorimetric Protein Assays, Fluorescence-Based Protein Assays, Absorbance-Based Protein Assays), Application (Drug Discovery and Development, Disease Diagnosis, Others), End Users (Pharmaceutical and Biotechnology Companies, Clinical Laboratories, Hospitals, Academic Research Institutes, Others)
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