Protein Binding Assays Industry to Grow to be Worth 425.7 million USD by 2023


Posted December 8, 2020 by mmvaidya

The global protein binding assays market is projected to reach USD 425.7 million in 2023 from USD 256.1 million in 2018
 
The global protein binding assays market is projected to reach USD 425.7 million in 2023 from USD 256.1 million in 2018, at CAGR of 10.7%. The increasing use of protein binding assays in pre-clinical research for studying the distribution properties of the drug, and the growing number of drug discovery activities, the minimizing drug discovery and development costs, and the increase in pharmaceutical R&D expenditure is driving the growth of this market.

Based on technology, equilibrium dialysis segment is expected to grow at the highest CAGR in the market during the forecast period

On the basis of technology, the global protein binding assays market is divided into equilibrium dialysis, ultrafiltration, ultracentrifugation, and other technologies. In 2018, the equilibrium dialysis segment is expected to grow at the highest CAGR in the protein binding assays market. The growth can be attributed to the technique’s physical simplicity, low cost, and high accuracy. It is also considered as a gold standard technique for protein binding studies.

Target Audience:

# Government and academic institutes
# Protein binding assay providers
# R&D departments
# Contract research organizations
# Pharmaceutical & biotechnology companies
# Consulting firms
# Government associations

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Based on end user, Contract Research Organizations (CROs) segment is expected to grow at the highest CAGR in the market during the forecast period

On the basis of end user, the global protein binding assays market is divided into pharmaceutical and biotechnology companies, CROs, and other end users. In 2018, the CROs segment is expected to grow at the highest CAGR in the global protein binding assays market. This high growth can be attributed to the increase increased protein binding studies for drug discovery & development by pharmaceuticals and the growing focus of biotechnology companies on developing biologics.

Asia Pacific is expected to grow at the highest CAGR during the forecast period

The APAC market is projected to register the highest growth rate during the forecast period primarily due to factors such as, growth of clinical trial activities in several APAC countries. As a result of this, the pharmaceutical and biopharmaceutical companies are outsourcing their drug discovery and development activities to APAC-based CROs. This is one of the major factors driving the growth of the protein binding assay market in the Asia Pacific.

Market Players

The key players in the global protein binding assays market are HTDialysis (US), Thermo Fisher Scientific (US), Merck (Germany), and Sovicell (Germany).

Most companies focus on agreements, collaborations, and partnerships to compete in the market. The players also focus on increasing their presence in high-growth markets through acquisitions and product launches. Thermo Fisher (US), Sovicell (Germany) and 3B Pharmaceutical focus on partnerships, collaboration and license agreements to strengthen their position in the market.

Some other leading players in the global protein binding assay market are Merck (Germany), Sovicell (Germany) GE Healthcare (US), and Absorption systems (US). These companies focus on product launches, agreements, collaborations, and partnerships to maintain their strong position in the market in the coming years.

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Issued By Makarand Vaidya
Country United States
Categories Biotech , Industry , Medical
Tags protein binding assays , protein binding assays industry , protein binding assays market
Last Updated December 8, 2020