Research Nester released a report titled “Protein Biochips Market: Global Demand Analysis & Opportunity Outlook 2030” which delivers detailed overview of the protein biochips market in terms of market segmentation by technology, end-user, and by region.
Further, for the in-depth analysis, the report encompasses the industry growth indicators, restraints, supply and demand risk, along with detailed discussion on current and future market trends that are associated with the growth of the market.
The global protein biochips market is projected to grow with a moderate CAGR during the forecast period, i.e., 2022-2030, on account rising rate of cancer deaths and increasing practice for using advanced technology for more effective diagnosis of diseases, such as, cancer, cardiovascular diseases, and other chronic ailments. According to the statistics by the WHO, cancer is the second leading cause of death globally, accounting for 9.6 million deaths in 2018.
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The market is segmented on the basis of technology into microarrays and microfluidics, out of which, the microfluidics segment is projected to grab the most significant share by the end of 2021. The increasing demand for improved precision for diagnostics, which can be easily achieved by microfluids, along with technological advancements in the medical industry are estimated to boost the segment growth during the forecast period.
The market is segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. The protein biochips market in the Asia Pacific region is estimated to grow at the highest CAGR throughout the forecast period owing to the improving healthcare sector, backed by increased government funding, economic development, and raised international investment in the market in the region. Moreover, increasing geriatric population, rising health awareness among the public, and increasing disposable income are estimated to boost the growth of the regional market.
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Increasing Prevalence of Cancer and Need of Cancer Diagnostics to Drive the Market Growth
According to the World Health Organization, the cancer mortality rate is increasing constantly, with over 10 million deaths in 2020, up from 9.6 million in 2018. 30 to 50% of the cases of cancers can currently be prevented by avoiding risk factor and early diagnosis.
Rising cases of cancer and other diseases is the major factor driving the market growth. Protein biochips are being increasingly adopted for various applications in genomics, drug discovery, and proteomics. In addition to this, the development of targeted and personalized medicines for the treatment of cancer and comprehensive product portfolio owing to new product launches are anticipated to boost the market growth. However, the cost of manufacturing protein biochips is high, which is likely to hamper the market growth.
This report also provides the existing competitive scenario of some of the key players of the global protein biochips market which includes company profiling of Abbott Laboratories, Agilent Technologies, Inc., PerkinElmer, Inc., Fluidigm Corporation, Illumina, Inc., GE Healthcare, Bio-Rad Laboratories, Inc., Thermo Fisher Scientific, Inc., and Sigma Aldrich Corporation. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global protein biochips market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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