Protein Biochips Market Trends

Growth Drivers

Growing Diabetes Prevalence- Protein biochips are used to measure level of glucose and other proteins in the blood. This can be used to detect early signs of diabetes, which is becoming increasingly common owing to changes in lifestyle and diet. Nearly 37.3 million Americans have diabetes according to the Centers for Disease Control and Prevention. Additionally, protein biochips can be used to monitor the progression of diabetes and to ensure that patients are receiving proper treatment.
Intensified Funding for Pharmaceutical R&D Activities Across the Globe- A wide range of activities were covered by the costs, including medication research and testing, incremental enhancements, or expansions of products, and medical studies to monitor their safety. For instance, the US pharmaceutical companies spent more than USD 85 billion on research and development in 2019.
Rapid Emergence of Next-Generation Sequencing- The Next-Generation Sequencing NGS technology has revolutionized genomic research with its high throughput capabilities. Thousands to millions of molecules can be sequenced simultaneously using NGS methods as they are highly parallelized. Protein biochips are used to capture and analyze proteins in a sample. By analyzing the proteins, researchers can gain insights into the biological processes taking place within the sample. This makes it a valuable tool for Next-Generation Sequencing NGS which seeks to analyse a large number of samples quickly and efficiently.

Challenges

The Shortage of Experienced Professionals for Developing and Operating Protein Biochip- The Technology's complexity and the necessity of it highly specialized knowledge and skills to develop and operate protein biochips makes it difficult to find the right people with the necessary skills. That's making things difficult. Companies want to use the technology more widely. It also restricts the growth possibilities of the market.
Biochips are Expensive to Produce
Lack of Understanding Between People on the Subject Use of Protein Biochips for Potential Benefits

Protein Biochips Market: Key Insights

Base Year	2023
Forecast Year	2024-2036
CAGR	~15%
Base Year Market Size (2023)	~ USD 8 Billion
Forecast Year Market Size (2036)	~ USD 36 Billion
Regional Scope	North America (U.S., and Canada) Latin America (Mexico, Argentina, Rest of Latin America) Asia-Pacific (Japan, China, India, Indonesia, Malaysia, Australia, Rest of Asia-Pacific) Europe (U.K., Germany, France, Italy, Spain, Russia, NORDIC, Rest of Europe) Middle East and Africa (Israel, GCC North Africa, South Africa, Rest of the Middle East and Africa)

Frequently Asked Questions (FAQ)

The increasing prevalence of chronic diseases and the growing demand for personalized medicine are creating a strong demand for protein biochips.

The market size of protein biochips is anticipated to attain a CAGR of 15% over the forecast period, i.e., 2024-2036.

High cost of the biochips and the lack of awareness among people about the potential benefits of using protein biochips are major factors that are slowing down the growth of the protein biochips market.

The market in the North America region is projected to hold the largest market share by the end of 2036 and provide more business opportunities in the future.

The major players in the market are Dynamic Biosensors GmbH, PerkinElmer Inc., Bio-Rad Laboratories, Inc., Illumina, Inc., ABTECH Scientific, Inc., Standard BioTools Inc., Merck KGaA, LI-COR, Inc., and others.

Protein Biochips Market Trends