According to the research report titled ‘Global Protein Assays Market Size study, By Product (Reagents, Kits, Instruments & Accessories), By Technology (Absorbance-based Protein Assays, Colorimetric-based Protein Assays, Fluorescence-based Protein Assays), By Type (Dye-binding Assays, Copper-ion-based Assays, Test Strip-based Assays, Other Protein Assays), By Application (Drug Discovery and Development, Disease Diagnosis, Other Applications), By End User (Pharmaceutical & Biotechnology Companies, Hospitals, Clinical Laboratories, Academic Institutes, Other End Users), and Regional Forecasts 2022-2028’, available with MarketStudyReport, global protein assays market accounted for USD 2.17 billion in 2021 and is anticipated to reach USD 4.52 billion by 2028, witnessing to record an 11.1% CAGR during the study timeline.

The favorable government outlook toward proteomics research, rising investment in R&D activities, and the rapid expansion of the pharmaceutical and biotech sectors are some of the factors driving the expansion of global protein assays market.

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For those unaware, concentration of protein or an array of different proteins in a sample solution can be determined using the analytical technique known as protein assay. It is essential to the pharmaceutical and biotechnology research that is mostly used in studies of life science.

Apart from this, the rising demand for protein assays from the pharma sector, rising healthcare expenditure, and the rapid development of health infrastructure are expected to add traction to overall market growth.

However, the high cost of multiplex assay equipment and several problems related to the advancements in protein assays for numerous disorders might restrain market expansion through 2028.

Based on the product gamut, the market is divided into instruments & accessories, kits, and reagents. Moving on to the technology type, the industry is fragmented into fluorescence, colorimetric, and absorbance-based protein assays.

In terms of type, global protein assays market is segmented into test strips, copper-ion, dye-binding, and other protein assays segments. Citing the application landscape, the industry is categorized into disease diagnosis, drug discovery & development, and other applications.

With respect to end-user terrain, the market is segregated into academic institutes, clinical laboratories, hospitals, pharmaceutical & biotechnology companies, and other end-users.

Geographically, North America is expected to hold the largest share in global protein assays industry over the forecast period, owing to the increase in private-public partnerships for drug development and the rising presence of major players in the market.

Whereas Asia-Pacific market is projected to exhibit the highest CAGR over the forecast timeline, ascribed to increasing investment for R&D activities and rapid growth in pharmaceutical and biotechnology industries.

Geno Technology Inc., Novus Biologicals LLC, GE Healthcare Company, PerkinElmer Inc., General Electric Company, Abcam plc, Cell Signaling Technology Inc., The Merck Group, Bio-Rad Laboratories Inc., and Thermo Fisher Scientific Inc. are the leading players influencing global protein assays market.