Protein Binding Assays market to Eyewitness Huge Marginal Growth by 2027Posted by Mrudula Karmarkar on December 31st, 2021 The global protein binding assays market size is expected to reach USD 683.09 million by 2026 at a CAGR of 10.6%, according to a new report by Grand View Research, Inc. Protein binding assays are increasingly being adopted in preclinical stages of drug discovery & development programs. These assays help in detection of target molecules and provide critical information about the properties of therapeutics and biologics. Increase in number of R&D outsourcing activities by pharmaceutical companies for development of therapeutics is anticipated to increase the adoption of protein binding assays. Presence of several companies that provide these services for molecule investigation and analysis is expected to positively impact the market growth over the forecast period. According to U.S. FDA, 59 novel therapeutics and biologics were approved by Center for Drug Evaluation and Research (CDER) in 2018 as compared to 46 new drugs approved in 2017. Therefore, increase in the number of drug candidates being screened and approved annually drives the adoption of protein binding assays. Pharmaceutical companies are investing in preclinical screening activities for preventing late-stage failures in development of therapeutics. As per the estimates, in June 2018, a majority of pharmaceutical firms invested approximately USD 1.13-5.65 million in preclinical testing. Drug discovery & development is cost-intensive and requires high capital investment, technological capabilities, and human resources. If the drug candidate fails during the development stages, manufacturers incur a substantial loss. Protein binding assays help optimize drug discovery costs by analyzing the binding & absorption capabilities in preclinical phases, thus reducing drug attrition in late stages of drug development. To Request Sample Copy of this report, click the link: https://www.grandviewresearch.com/industry-analysis/protein-binding-assays-market/request/rs1 Protein Binding Assays Market Report Highlights
Key players operating in the market include Thermo Fisher Scientific, Inc.; Charles River; Sovicell GMBH; Absorption Systems LLC; GE Healthcare; Eurofins Scientific; 3B Pharmaceuticals; Creative Biolabs; Evotec (Cyprotex); and Bioduro. Market players are undertaking several strategic initiatives to strengthen protein binding assays portfolio and increase their footprint in the market. Some of the strategies implemented include agreements, collaborative models, business expansion, and product developments. For instance, in March 2018, Thermo Fisher signed an agreement with Montreal Neurological Institute, under which the institute generated cell lines by using Fisher’s antibodies and protein binding assays to study neurodegenerative diseases. Similarly, in February 2019, Charles River signed an agreement to acquire Citoxlab to strengthen its market position in the field of drug discovery & development. About Grand View Research Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare. Like it? Share it!More by this author |