Protein Chip Market

Global Protein Chip Market Size (2024 to 2029)

The global protein chip market is estimated to be worth USD 3.32 billion in 2024. This value is expected to grow at a CAGR of 18.21% CAGR during the forecast period and reach USD 7.67 billion by 2029. 

A protein chip is an advanced, high-performance method to detect proteins, investigate protein functions, and monitor their expressions. A protein Chip is a technique for monitoring protein activity. In a single experiment, this technique is used to monitor protein expression and determine the function of many proteins. A surface such as a nitrocellulose membrane, microtitre plate, glass slip, and bead make up a protein chip. This surface assists in the monitoring of all protein activities. Protein chips are also known as protein microarrays. These protein chips are low-cost, automated, quick, and responsive and can track small amounts of reagents or samples. Antibody characterization, protein function analysis, proteomics, and diagnostics are all examples of protein chip applications. For example, in proteomics, DNA microarray could not track gene expression levels. Many common methods, such as chromatography and DNA microarray, can be replaced with a protein chip. Large-scale functional chips, analytical capture arrays, and lysate are currently available in the three types of protein chips. Diagnostics, proteomics, protein functional analysis, and antibody characterization are just some areas where protein arrays are used.

MARKET DRIVERS

The growing preference and demand for personalized medicines is majorly propelling the global protein chip market growth.

The massive investments in research and development of these methods have further contributed to the market growth. Another factor positively affecting the market is the rising incidences of cancer worldwide. The popularity of advanced diagnostic testing has also led to advancements in the protein chip market. The growing quality of healthcare facilities and rising diseases will help the market grow and cater to a considerable population.

Additionally, factors such as the growing rate of cancer incidences, the practice of advanced technology in diagnostic tests, and rising knowledge about personalized medicines are propelling the protein chip market growth. Furthermore, increasing government initiatives and massive investments in the research and development of these methods contribute to the market's growth. Protein chips are also used to understand the fundamental biology of different organisms based on gene expression. As a result, sales of $731 million in 2016 are expected to expand to $2,024 million by 2023 in the United States. Besides that, developed countries with sophisticated healthcare equipment and facilities, such as the United States, Canada, and others, are expected to catalyze the growth of the protein chip market over the forecast period.

Protein chip technologies are advancing rapidly, improving economies in some areas, such as Asia. This factor is expected to open numerous opportunities for market growth. Protein chips produce array patterns converted into proteomic maps or fingerprints that show the proteome's detailed composition. In the coming years, protein expression profiling, biomarker discovery, and disease diagnostics will be prioritized. These methodologies are expected to affect biomedicine, biotechnology, and high-throughput proteomics research hugely. 

Furthermore, the latest advancements in on-chip services, such as lab-on-a-chip and Organ-on-chip, are further boosting the growing use of this technology in the healthcare sector, along with research and analytical development in bioassays and cell biology. Furthermore, there are also other sectors incurring on-chip services like system-on-chip. Therefore, the growing trend of on-chip services is expected to boost the market expansion during the forecast period. 

MARKET RESTRAINTS

The global protein chip market has numerous restraints in various critical areas, especially in producing proteins in a high-throughput manner. It's a scientific experimentation approach that automates the screening for activity against biological targets. Besides that, protein quality must be considered since it will decide the quality of the resulting protein microarrays. Despite significant investments by many firms, proteins are scarce on the market. Changes in the microenvironment have a significant impact on proteins. Maintaining protein arrays in a stable state for long periods is a challenge for market players. Low-yield production of consistent and reliable proteins can stifle market growth in the future.

REPORT COVERAGE

SEGMENTAL ANALYSIS

Protein Chip Market By Technology

Based on technology, the functional protein microarray segment accounts for a significant market share due to its widespread application in advanced diagnostics. The functional protein microarray held the largest market share in 2023 and is expected to grow at a healthy growth rate during the forecast period. The application of functional protein microarray has flourished in studying protein function and the construction of networks and pathways. Further research and development fully unlock the technology's potential.

The analytical microarray segment is expected to grow at a prominent growth rate during the forecast period. The key features of analytical microarray include high throughput and relatively low costs due to minimal reagent consumption. Other features are multiplexing, fast kinetics, and hence measurements, and the possibility of functional integration. The increased funding for research and development in this technology will help us exploit the full benefits of protein microarray in the future.

Protein Chip Market By Application

Based on the application, the proteomics segment is the largest revenue-generating segment in the global protein chip market. Proteomics had the largest share in revenue in 2022. Proteomics is used in biomedical research and drug discovery studies based on conduction chips, and due to this factor, the growth is expected to be healthy in the future. It had half the market share in the overall protein chip market in 2020. Its broad spectrum of applications includes spectroscopy, X-ray Crystallography, and Chromatography. Other proteomics applications are Supercritical Fluid Chromatography, Electrophoresis, SPR (Surface Plasmon Resonance) Systems, and Protein Fractionation Systems.

Diagnostics using protein chips are expected to grow with a promising growth rate in the future. The prevalence of COVID-19 has increased the market growth and, thus, increased the market growth of protein chips. In addition, monoclonal antibodies and recombinant antibodies provide a never-ending source of molecules and can produce endless possibilities for novel genetic constructs.

The protein function analysis sub-segment is expected to grow at a reasonable rate in the future. This is because protein chips are used to assign roles to the proteins. Thus with the development of technology, we can see revolutionary applications of protein chips in this segment.

REGIONAL ANALYSIS

Geographically, the global protein chip market was dominated by North America, followed by Europe in 2023. However, the Asia Pacific is expected to grow significantly during the forecast period.

The North American protein chip market is expected to lead the market among all other regions during the forecast period. The development of healthcare facilities due to government initiatives and the allotment of more funding has helped this market's growth. In addition, the notable market players in the biotechnology field and their collaborations to use the technology for different applications are expected to propel the North American protein chip market growth.

The European protein chip market is expected to grow steadily and was captured as the second-largest in 2022. The development of quality healthcare and the rise in cancer cases due to the increasing population driven the market growth. Governments are now more interested in this method due to its wide applications. Thus, initiatives from the government will boost the confidence of research centers in the region.

The Asia Pacific protein chip market is expected to grow at the highest rate among all other regions in the global market during the forecast period. The rise in population in countries like India and China is the primary reason for the growth. In addition, the rising cases of diseases requiring diagnosis in the region drive the development of the market.

The protein chip market in the Latin American region is expected to grow at a steady CAGR during the forecast period.

The protein chip market in the Middle East and Africa is predicted to rise at a moderate CAGR during the forecast period.

KEY MARKET PARTICIPANTS

A few of the notable companies leading the global protein chip market profiled in this report are SEQUENOM, Inc., Sigma Aldrich Corporation, Affymetrix, Inc., EMD Millipore, Illumina, Inc., Life Technologies Corporation, and Agilent Technologies.

RECENT HAPPENINGS IN THIS MARKET

• In October 2022, the method used by Protein Evolution, a New York-based corporation, is comparable to spontaneous mutations occurring randomly in organisms. Today, the business announces its technology and first investment of more than $20 million as it exits stealth mode. They find millions of distinct mutations and choose the most potent ones using artificial intelligence and natural science. This strategy will have a considerable influence when businesses, communities, and governments are obliged to reach global sustainability targets in the future. In addition, it will assist in decarbonizing the chemicals sector.
• In October 2022, U.S. Senator Chris Murphy awarded Guilford-based Quantum-Si the "Innovator of the Month" for October. Quantum-Si, a life sciences company, has developed a next-generation, single-molecule protein sequencing technology to advance drug discovery and diagnostics beyond what has been made possible with DNA sequencing. This technology is powered by a semiconductor chip that is the first of its kind.
• In October 2022, drug discovery and diagnostics will advance thanks to the semiconductor chip and Time Domain SequencingTM technology, allowing people to live healthier and longer lives. A new study from Quantum-Si Incorporated demonstrates how Time Domain Sequencing and single-molecule protein sequencing on semiconductor chips can revolutionize biomedical and life science research.
• In August 2022, the growing life sciences city of San Diego, California, now has a new subsidiary firm called Proteintech Genomics under the ownership of Proteintech Group. To improve the capabilities of multi-omic analysis across various spatial and single-cell research platforms, Proteintech Genomics is developing completely optimized and highly multiplexed proteomic assays. The objective is to widely release the potential of multi-omics throughout the research community.

DETAILED SEGMENTATION OF THE GLOBAL PROTEIN CHIP MARKET INCLUDED IN THIS REPORT

This research report on the global protein chip market has been segmented and sub-segmented based on the technology, application, and region.

By Technology

• Analytical Microarrays     
• Functional Protein Microarrays    
• Reverse Phase Protein Microarray

By Application

• Diagnostics
• Proteomics
• Protein Functional Analysis
• Antibody Characterization

By Region

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East and Africa