Protein Binding Assay Market is expected to reach US$ 694.63 million by 2028

Increasing Drug Discovery Activities Contribute to Growth of Protein Binding Assay Market

According to our latest market research study on “Protein Binding Assay Market Forecast to 2028 – COVID-19 Impact and Global Analysis – by Technology, End User, and Geography,” the market is expected to reach US$ 694.63 million by 2028 from US$ 340.14 million in 2021; it is estimated to grow at a CAGR of 10.7% from 2021 to 2028. The report highlights the market trends, drivers, and deterrents. Surge in drug discovery activities and growing need to reduce the costs of drug discovery and development are among key factors driving the market growth. However, challenges associated with the existing technologies hinder the market growth.  

Based on technology, the global protein binding assay market is segmented into ultracentrifugation ultrafiltration, equilibrium dialysis, surface plasmon, and others. In 2020, the equilibrium dialysis segment held the largest share of the market. However, the ultrafiltration segment is expected to register the highest CAGR in the market during 2021–2028. Equilibrium dialysis is among the most widely accepted methods for evaluating protein binding, and it can be performed with the help of rapid equilibrium dialysis (RED) devices. Researchers prefer this method as it has fewer binding effects to extraneous and unintended factors affecting research results.            

The pace of research and development of drugs and vaccines against the disease has increased during the COVID-19 pandemic. Protein binding is one of the key biochemical phenomena studied during the drug development process, as the cell receptors to which antigens on the infectious agents or drug molecules attach are mostly proteinic in nature. Thus, the pharmaceutical and biotechnological companies investing in product innovations frequently need protein binding assay materials and equipment. 

A few prominent players operating in the protein binding assay market are Thermo Fisher Scientific, Inc., Merck KGaA, Eurofins Scientific, General Electric Company, Sovicell GmbH, Pharmaron Beijing Co., Ltd., Biotium, Inc., MicroConstants, Inc. and Sartorius AG. Companies are adopting organic and inorganic growth strategies to sustain their position in the protein binding assay market. In November 2020, Pharmaron Beijing Co., Limited acquired 100% assets of Absorption Systems, US, for up to US$ 137.5 million in cash. Absorption Systems is a leading scientific, non-clinical contract research organization (CRO) that provides small and large molecules, cell and gene therapies, and ocular and medical device products, among others, to pharmaceutical, biotechnology, and medical device companies; regulatory agencies; and research and testing organizations.

Protein Binding Assay Market, by Region, 2020 (%)    

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Protein Binding Assay Market to Grow at a CAGR of 10.7% to reach US$ 694.63 million from 2021 to 2028

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Protein Binding Assay Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Technology (Equilibrium Dialysis, Ultracentrifugation, Ultrafiltration, Surface Plasmon, and Others); End User (Contract Research Organization, Pharmaceutical & Biotechnology Companies, and Research & Diagnostic Laboratories), and Geography.