The Protein Chip Market is estimated to hit $4.498 billion by 2023

According to the new market research report by IndustryARC titled “Protein Chip Market: By Technology (Analytical, Functional Protein and Reverse Phase Protein Microarray), By Application (Diagnostics, Proteomics, Protein Functional Analysis, Antibody Charactyerization) & By Region-Forecast (2018-2023)”, the market is driven by increasing number of cancer incidences rate.

Browse 92 Market Tables, 178 Figures spread through 162 slides and an in-depth TOC on “Protein Chip Market (2018 - 2023)”

Asia-pacific continues to lead the market share during 2018-2023.
North America is the leading region for protein chip market in 2017, with revenue of $853.87 million in 2017 and is projected to grow to $2.024 billion by 2023. In the U.S., these protein chips are also used to understand fundamental biology of various diseases based on gene expression. These are also used for developing therapies related to different allergies. The growth of genome testing in this market is also set to significantly propel the market.
The APAC region is forecast to be the fastest growing market led by China, projected to register growth rate of 17.29% CAGR. Due to the increase in cancer patients in China, more protein chips are demanded by the research and development centers and the hospitals to monitor the condition and state of these patients through their blood samples. This factor in turn is driving the growth of protein chips market in China.

Selected / Sample Analysis done in the full Report:

• Protein functional application for analysis is the dominant protein chip market, generating revenue of $543.22 million in 2017 and is projected to reach $1,828.78 million by 2023, growing at a CAGR of 15.89% throughout the forecast period 2017-2023.
• Medical Research is the fastest growing sector with the rising incidences of cancer and protein disrupting diseases leading to significant growth.
• Biotechnology is the largest market for protein chips with revenue of $409 million in 2017 and projected to grow to $1,159.9 million by 2023. Protein microarrays has been playing important role in studying human cancer, discovery of biomarker and molecular fingerprinting.

Excerpts on Market Growth Factors Mentioned in the Full Report:

• Increasing rate of incidences of cancer and increasing practice for advanced technology in diagnostic testing is set to drive the market growth during the forecast period.
• Increasing cancer disease instances across the globe is the key driver for protein chip market for analyzing the functional parameters of proteins.
• Europe is the highest elderly population region worldwide, which is projected to act as a significant factor, is driving the sales of protein chips in this market.

Key Players of the Protein Chip Market:
The key players in the Protein Chip Market include Thermo Fisher Scientific, Agilent Technologies, F Hoffmann-La Roche Ltd, Bio-Rad. Thermo Fisher Scientific has launched a product, The ProtoArray® Human Protein Microarray, which is the first high-density microarray and contains thousands of unique, full length human proteins, including kinases, phophatases, GPCRs, nuclear receptors, and proteases, spotted in duplicate on a 1 inch x 3 inch thin nitrocellulose coated glass slide. Agilent Technologies offers Epigenetic and Specialty Microarrays, Protein Analysis Kits, High Sensitivity Protein Analysis Kits.