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(Health-NewsWire.Net, August 10, 2020 ) The Protein Binding Assay Technologies Market is projected to reach USD 425.7 million in 2023 from USD 231.3 million in 2017, at CAGR of 10.7% during the forecast period.
The increasing use of protein binding assays in pre-clinical research for studying the distribution properties of the drug, and the growing number of drug discovery activities, the minimizing drug discovery and development costs, and the increase in pharmaceutical R&D expenditure is driving the growth of this market.
In this report, the protein binding assays market has been categorized based on technology, end user, and region. On the basis of technology, the protein binding assay market is segmented into equilibrium dialysis, ultrafiltration, ultracentrifugation, and other technologies. In 2018, the equilibrium dialysis segment is expected to account for the largest share of the protein binding assay market.
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The large share and high growth rate of this segment can be attributed to the advantages associated with the use of equilibrium dialysis, which include physical simplicity, low costs, and high accuracy. The simpler workflow equilibrium dialysis also makes it the preferred choice for protein binding studies.
On the basis of end user, the protein binding assay market is divided into pharmaceutical & biotechnology companies, CROs, and other end users. CROs segment is expected grow at highest CAGR during the forecast period. The adoption of protein binding assays in CROs is mainly driven by the need for cost-effective protein binding services.
In 2018, North America is expected to account for the largest share of the global Protein Binding Assay Technologies Market, while Asia Pacific is expected to grow at the highest rate during the forecast period. The dominant share of the North American market is primarily due to its well-established pharmaceutical industry, the presence of leading pharmaceutical and biotechnology companies, and high R&D investments in this region.
Most companies focus on agreements, collaborations, and partnerships to compete in the market. The players also focus on increasing their presence in high-growth markets through acquisitions and product launches. Thermo Fisher (US), Sovicell (Germany) and 3B Pharmaceutical focus on partnerships, collaboration and license agreements to strengthen their position in the market.
Some other leading players in the global protein binding assay market are Merck (Germany), Sovicell (Germany) GE Healthcare (US), and Absorption systems (US). These companies focus on product launches, agreements, collaborations, and partnerships to maintain their strong position in the market in the coming years.
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