According to the research report titled ‘Global Protein Binding Assays Market Size study, By Technology (Equilibrium dialysis, Ultrafiltration, Ultracentrifugation, Other technologies), By End-Users (Pharmaceutical & biotechnology companies, Contract research organizations (CROs), Other end users), and Regional Forecasts 2022-2028’, available with MarketStudyReport, global protein binding assays market was valued at USD 347.35 million in 2021 and is expected to reach USD 707.63 million through 2028, registering more than 10.7% CAGR during the analysis timeframe.

The increasing number of drug discovery activities, focus towards reducing the development costs, flourishing pharmaceutical sector, and surging R&D activities are some of the primary factors driving the expansion of global protein binding assays market.

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For those unaware, protein binding assays are the form of compounds that are used to produce many drugs as well as identify and offer vital data on reactions between two molecules. Moreover, these are also beneficial to present perceptions of the protein concentration that exists during the specific chemical reaction between the components.

Apart from this, rising investment in the pharma space and the rapid development of the CRO sector are projected to contribute towards the overall market expansion. However, the increasing development of in silico-based prediction models and various issues associated with existing technologies is likely to restrain the overall market growth.

Based on the technology type, the market is subdivided into ultracentrifugation, ultrafiltration, equilibrium dialysis, and other technologies. Moving on to the end-user spectrum, the industry is classified into contract research organizations, pharmaceutical & biotechnology companies, and other end-users.

Regionally, North America is expected to hold the highest share in global protein binding assays market over the review period, on account of the mounting R&D investments and the presence of top pharmaceutical and biotechnology companies.

Meanwhile, Asia-Pacific market is expected to record a modest CAGR over the forecast period, owing to the favorable government initiatives and the emergence of novel technologies.

The major players operating in global protein binding assays industry are Arrayit Corporation, Promega Corporation, GVK Biosciences Private Limited, Abcam plc, Abzena Ltd., Bio-Rad Laboratories Inc., Sartorius Stedim BioOutsource Limited, Beckman Coulter Inc., ADMEcell Inc., and Thermo Fisher Scientific Inc.