Protein Binding Assays Market Size (2024 - 2029)

Protein Binding Assay Market Analysis

The Protein Binding Assays Market size is estimated at USD 390.60 million in 2024, and is expected to reach USD 647.60 million by 2029, growing at a CAGR of 10.60% during the forecast period (2024-2029).

The protein binding assay market is influenced by several factors that impact its growth and adoption in life sciences. Some of the major driving factors include rising demand for personalized medicine, increasing drug development activities, and technological advancements in assay technologies.

The growing pharmaceutical industry and continuous efforts in drug discovery drive the demand for protein-binding assays. These assays are essential for evaluating drug-protein interactions, optimizing drug candidates, and improving therapeutic efficacy. Drug development is rising year-over-year, with many medicines undergoing clinical evaluation and achieving quicker approval timelines. For instance, according to the data published by the Government of Canada in August 2023, the global pipeline boasted over 9,000 new medicines in diverse stages of clinical development in 2022, a notable increase from the previous year's count of under 8,500. This shows the growing number of drug developments, which is expected to increase the need for protein-binding assays, thereby boosting the market growth during the forecast period.

Also, advancements in assay technologies, such as high-throughput screening, fluorescence-based assays, and automated systems, enhance protein binding assays' efficiency, sensitivity, and accuracy. This attracts pharmaceutical companies and research institutions to adopt these technologies, which is expected to propel the market growth during the forecast period. In addition, in January 2023, Thermo Fisher Scientific Inc. completed its acquisition of The Binding Site Group, a prominent global player in specialty diagnostics. The Binding Site specializes in diagnostic assays, focusing on protein binding, and offers cutting-edge instruments. Hence, these company's strategic activities, such as acquisitions and collaborations, will likely increase market growth during the forecast period.

However, the high cost of assay development and implementation and the complexity of assay standardization are expected to restrain the market growth during the forecast period.

Protein Binding Assay Industry Segmentation

As per the scope of the report, protein binding assays refer to a set of laboratory techniques designed to measure the interaction between proteins and other molecules, such as drugs, ligands, small molecules, nucleic acids, or other proteins. These assays assess how strongly and specifically a molecule binds to a protein of interest.

The protein binding assays market is segmented by product type, technology, application, end users, and geography. By product type, the market is segmented into assay kits and reagents and instruments. By technology, the market is segmented into fluorescence-based assays, equilibrium dialysis, ultrafiltration, and other technologies. By application, the market is segmented into drug discovery, clinical diagnostics, proteomics research, and other applications. By end user, the market is segmented into academic and research institutes, pharmaceutical and biotechnology companies, contract research organizations, and other end users. By geography, the market is segmented into North America, Europe, Asia-Pacific, and the Rest of the world. The report offers the value (in USD) for the above segments.