Meticulous Research®, a leading global market research firm, has published a new report titled, "Protein Assays Market by Type (Dye-based, Copper-based), Technology (Fluorescence, Absorbance, Colorimetric), Offering (Reagents, Kits, Instruments), Application (R&D, Drug Discovery, Diagnostics), End User (Pharmaceutical, Hospital) – Global Forecast to 2031."

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According to the report, the global protein assays market is expected to grow at a compound annual growth rate (CAGR) of 9.3% from 2024, reaching $4.36 billion by 2031. This growth is attributed to increasing pharmaceutical R&D expenditure, the expanding use of protein assays in drug discovery and development, growth in the food and beverage industry, and the rising application of protein assays in clinical diagnostics. However, the high cost of protein assay equipment may hinder market growth.

Opportunities for market expansion are expected to arise from the increasing focus on proteomics research and the use of protein assays in personalized medicine. Despite these opportunities, the market faces challenges such as a shortage of skilled professionals and the potential for errors with complex samples.

Key Market Players
Leading companies in the global protein assays market include Bio-Rad Laboratories, Inc. (U.S.), Thermo Fisher Scientific Inc. (U.S.), Revvity, Inc. (U.S.), Merck KGaA (Germany), Abcam plc (U.K.), F. Hoffmann-La Roche AG (Switzerland), Danaher Corporation (U.S.), Promega Corporation (U.S.), Cell Signaling Technology, Inc. (U.S.), Agilent Technologies, Inc. (U.S.), and Novus Biologicals (U.S.).

Market Segmentation and Future Outlook
The global protein assays market is segmented by offering, type, technology, application, end user, and geography. The report provides a detailed analysis of industry competitors and evaluates their market shares at both global and regional levels.

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• By Offering: The market is divided into reagents & kits and instruments & accessories. In 2024, the reagents & kits segment is expected to hold the largest market share, driven by the increasing demand for accurate and rapid results, wide availability of consumables, and recurring use of protein assay kits for estimating protein concentration in unknown samples.

• By Type: The market is categorized into dye-based assays, copper-based assays, and other assay types. The dye-based assay segment is projected to dominate in 2024 due to its rapid results, ease of use, and reliability, particularly in the determination of residual protein content in biological processes.

• By Technology: The market is segmented into fluorescence-based, absorbance-based, and colorimetric-based protein assays. The absorbance-based protein assay segment is expected to account for the largest share in 2024, as it is a preferred method for researchers due to its simplicity, minimal sample consumption, and lack of need for additional hazardous reagents.

• By Application: The market is divided into drug discovery, research & development, clinical diagnosis, and other applications. The drug discovery segment is anticipated to hold the largest market share in 2024, driven by the increasing use of protein assays in life sciences research and their critical role in downstream processes like structural analysis and immunochemical techniques.

• By End User: The market is segmented into pharmaceutical & biotechnology companies, hospitals & diagnostic laboratories, food & beverage companies, and other end users. The pharmaceutical & biotechnology segment is expected to lead the market in 2024, supported by the growing number of research and clinical laboratories, increased R&D investments, and rising funding for pharmaceutical research.

Geographic Insights
The report provides a comprehensive analysis of the protein assays market across major regions, including North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa. In 2024, North America is expected to dominate the global protein assays market, driven by the presence of key market players, well-established research and clinical laboratories, and significant R&D spending by pharmaceutical and biotechnology companies. The expansion of research and clinical laboratories by major players, such as Thermo Fisher Scientific Inc.'s $59 million investment in its Kentucky facility in October 2022, further supports North America’s leadership position in the market.

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