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The protein microarray market share is expected to increase by USD 1.48 billion from 2021 to 2026, and the market's growth momentum will accelerate at a CAGR of 8.92%.
This protein microarray market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers protein microarray market segmentation by class type (analytical protein microarrays and functional protein microarrays) and geography (North America, Europe, Asia, and ROW). The protein microarray market report also offers information on several market vendors, including Agilent Technologies Inc., Bio Rad Laboratories Inc., Cepheid Inc., Fluidigm Corp., Illumina Inc., Merck and Co. Inc., Molecular Devices LLC, PerkinElmer Inc., RayBiotech Life Inc., and Thermo Fisher Scientific Inc. among others.
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The increase in adoption of microarrays in genomics and proteomics is notably driving the protein microarray market growth, although factors such as standardization and accuracy issues may impede market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the protein microarray industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.
Key Protein Microarray Market Driver
The increased adoption of microarray in genomics and proteomics is one of the key drivers for the protein microarray market growth. Miniaturization by microarray technologies is rising significantly, enabling high production processing. Furthermore, these protein microarrays have numerous advantages such as low sample requirements because they can display multiple proteins simultaneously. Also, microarray technology helps in diagnosing diseases, which aids in deciding better treatment strategies. Thus, the rising use of microarray technology in the healthcare sector, despite of its high price, is expected to propel the protein microarray market during the forecast period.
Key Protein Microarray Market Challenge
The standardization and accuracy issues is a major challenge for the protein microarray market growth. Technical issues that arise during the incorporation of the biochip technology in the drug delivery processes are limiting the use of protein microarray. Moreover, protein microarrays are not being preferred to be installed in the diagnostic industry as they lack precision in data. Therefore, the researchers are forced to discard the raw data available on the chips. Hence, the technical, ethical, standardization, and precision issues are expected to hinder the development of biochips, resulting in hampering the market growth of protein microarray during the forecast period.
This protein microarray market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2022-2026.
The global protein microarray market is characterized by the presence of numerous players. Vendors compete based on R&D, quality, price, innovations, marketing strategies, market expansion, investments, and distribution networks. Some vendors have high investment capabilities, and they constantly focus on increasing their production capacity.
The report analyzes the market's competitive landscape and offers information on several market vendors, including:
This statistical study of the protein microarray market encompasses successful business strategies deployed by the key vendors. The protein microarray market is fragmented and the vendors are deploying organic and inorganic growth strategies to compete in the market.
To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
The protein microarray market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.
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38% of the market's growth will originate from North America during the forecast period. US and Canada are the key markets for protein microarray market in North America. Market growth in this region will be slower than the growth of the market in Europe and Asia.
The strong distribution network will facilitate the protein microarray market growth in North America over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.
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The protein microarray market share growth by the analytical protein microarray segment will be significant during the forecast period. Complex mixture of proteins in order to measure the expression levels, specialties, and binding affinities is done by using analytical protein microarray technology. One of the most powerful multiplexed detection technology for deriving environmental stress and healthy versus diseased tissues, and analytical protein microarray are often deployed through antibodies. Altogether, these biochips are highly productive and have relatively low costs, enhancing the demand, and elevating the protein microarray market growth during the forecast period.
This report provides an accurate prediction of the contribution of all the segments to the growth of the protein microarray market size and actionable market insights on post COVID-19 impact on each segment.
Protein Microarray Market Scope |
|
Report Coverage |
Details |
Page number |
120 |
Base year |
2021 |
Forecast period |
2022-2026 |
Growth momentum & CAGR |
Accelerate at a CAGR of 8.92% |
Market growth 2022-2026 |
$ 1.48 billion |
Market structure |
Fragmented |
YoY growth (%) |
5.98 |
Regional analysis |
North America, Europe, Asia, and ROW |
Performing market contribution |
North America at 38% |
Key consumer countries |
US, Canada, Germany, China, and UK |
Competitive landscape |
Leading companies, Competitive strategies, Consumer engagement scope |
Key companies profiled |
Agilent Technologies Inc., Bio Rad Laboratories Inc., Cepheid Inc., Fluidigm Corp., Illumina Inc., Merck and Co. Inc., Molecular Devices LLC, PerkinElmer Inc., RayBiotech Life Inc., and Thermo Fisher Scientific Inc. |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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Executive Summary
Market Landscape
Market Sizing
Five Forces Analysis
Market Segmentation by Class type
Customer landscape
Geographic Landscape
Vendor Landscape
Vendor Analysis
Appendix
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