Protein Diagnostics Market Shows Strong Growth Potential, Estimated at US$8.3 Billion by 2033, According to FMI

In accordance with the most recent industry analysis from Future Market Insights, the global protein diagnostics market was valued at approximately $4.7 billion in 2022. It is forecasted to experience a robust compound annual growth rate (CAGR) of nearly 5.4% over the projected period, leading to an estimated market valuation of $8.3 billion by 2033.

As of 2020, the European Union emphasized the critical role of medical diagnostic tests in clinical decisions, contributing to over 75% of these decisions. The concept of early diagnosis, which involves the use of cutting-edge technologies to detect diseases sooner than traditional methods, has been gaining substantial recognition within the medical community. This emerging trend not only enhances the quality of care but also expedites treatment procedures while reducing healthcare costs. Anticipated future outcomes indicate further improvements in healthcare.

The rapid evolution of technology plays a pivotal role in early disease identification and diagnosis. This shift in diagnostic focus, from disease management to overall well-being, is facilitated by advanced technologies such as Artificial Intelligence (AI). AI systems exhibit the potential to assist in various medical tasks, including disease diagnosis and treatment, while simultaneously mitigating human errors. Notably, visual pattern recognition software, a prominent application of AI, has demonstrated initial accuracy levels comparable to those of medical professionals. This development marks a significant milestone in the integration of AI in healthcare.

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Governments all throughout the world have implemented various screening programs for their populations in higher-risk groups, placing a stronger emphasis on prevention. Breast, colon, and cervical cancer screenings are a few examples. Although these screening initiatives can be quite successful at identifying diseases earlier on, it is important to consider their psychological and financial effects as well.

Overall, these factors are contributing to the growth of the Protein Diagnostics market, and are expected to continue to drive demand for effective and innovative treatment options in the coming years.

Key Takeaways:

• Reagent Kits are the leading segment of products among end users and held about 62.3% market share in 2022, the growing number of infectious diseases has led to their high adoption of reagent kits.
• By sample, serum is the most compatible because it is an abundant source of protein, accessibility, and stability than other samples. The segment contributes 35.4% value share to the global market in 2022.
• Disease diagnosis held the dominant market share of 85.0% among other applications in 2022, due to the recent rise of infectious diseases and hospital-acquired infections.
• Turbidimetry held a market share of 76.3% in 2022, owing to the factor that it shortens the assay time by enabling faster binding of the antibodies and antigen
• Hospital segment by end user accounted for a revenue share of 36.9% in the global market at the end of 2022. Hospitals are built to provide coordinated care across departments and specializations, which can be useful when many diagnostic tests are required to reach a diagnosis.
• By region, North America is leading in the global Protein Diagnostics market and is expected to continue to do so with a projected CAGR rate of 6.7% during the forecasted years.

“Increasing adoption of protein diagnostic testing for the identification of underlying diseases and early detection of chronic disease are the key drivers of the Protein Diagnostics market,” says an analyst at Future Market Insights (FMI).

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Market Competition:

To expand their market share, major players in the Protein Diagnostics industry are adopting various growth strategies, including acquisitions, mergers, collaborations, and partnerships. These companies are also focused on enhancing their sales efforts and developing innovative products by leveraging new technologies.

• In October 2022, StoCastic, LLC, a premier artificial intelligence startup that delivers evidence-based decision support for hospital emergency departments (ED), has been acquired by Beckman Coulter Diagnostics.
• Biognosys, a prominent provider of next-generation proteomics technologies for drug discovery and development, reported in April 2021 that it has engaged in a strategic partnership with Siemens Healthineers, a multinational medical technology business, through its clinical laboratory in Berkeley, California. Biognosys’ expertise in unbiased biomarker discovery methods and solutions is combined with Siemens Healthineers’ skills in biomarker assay development, laboratory testing, and commercialization.

Key Players:

Beckman Coulter, Inc., Siemens Healthineers, F. Hoffmann-La Roche Ltd., Agilent Technologies, Inc. Shenzhen Mindray Bio-Medical Electronics Co., Ltd., Elabscience Biotechnology Inc., Goldsite Diagnostics Inc., Getein Biotech, Inc., Randox Laboratories Ltd., Hipro Biotechnology Co., Ltd., and Beijing Strong Biotechnologies, Inc

What Does the Report Cover?

Future Market Insights offers a unique perspective and actionable insights on the Protein Diagnostics market in its latest study, presenting a historical demand assessment of 2017 to 2022 and projections for 2023 to 2033. The global Protein Diagnostics market is segmented in detail to cover every aspect of the market and present a complete market intelligence approach to the reader.

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Key Segments Covered:

By Product:

• Analyzers
• Reagents
  • Albumin Test Kits
  • Alpha-1-Microglobulin Albumin Test Kits
  • Alpha-2-Macroglobulin Albumin Test Kits
  • C-Reactive Protein Test Kits
  • Fibrinogen Test Kits
  • Fibronectin Test Kits
  • Haptoglobin Test Kits
  • Kappa Light Chains Kits
  • Lambda Light Chains Kits
  • Transferrin Test Kits
  • Alpha-1-Acid Glycoprotein Test Kits
  • Alpha-1-Antitrypsin Test Kits
  • Apolipoprotein B Test Kits
  • Cystatin Test Kits
  • Ferritin Test Kits
  • Immunoglobulin Test Kits
    • IgA
    • IgE
    • IgG
    • IgG 1
    • IgG 2
    • IgG 3
    • IgG 4
    • IgM
  • Lipoprotein Test Kits
  • Others
  • Calibrators & Controls Kits/Reagents

By Sample:

• Serum
• Plasma
• Urine
• Cerebrospinal Fluid
• Others

By Application:

• Drug Discovery and Development
  • Antigen-Antibody Reaction
  • Immunocomplex Reaction
  • Protein Measurement
  • Others
• Disease Diagnosis
  • Cancer
  • Infectious Disease
  • Blood Coagulation
  • Renal Function
  • Liver Diseases
  • Autoimmune Disorder
  • Others
• Other Applications

By Technology:

• Turbidimetry
• Nephelometry

By End User:

• Hospital
• Diagnostic Labs
• Reference Labs
• Speciality Clinics/Standalone

About Future Market Insights (FMI)

Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5,000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.

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