Global Peptide Microarray Market is valued at approximately USD 761.42 million in 2021 and is anticipated to grow with a healthy growth rate of more than 4.20% over the forecast period 2022-2029. In the field of proteomics and clinical testing, peptide microarrays are a reliable approach that can monitor the function of protein linkages, histone-modifying enzymes, and binding activity on a wide scale. It can be used for in-vitro diagnostic tests, diagnostics, and vaccine development to identify IgG and IgM antibody responses on the epitope level in patient samples. The Peptide Microarray market is expanding because of factors such as rising diabetes and prevalence of chronic diseases, and technological advancements in diagnostic testing. However, reimbursement issues may halt market growth.
One of the chronic conditions with the fastest rate of development is diabetes. It has gotten more frequent during the last few decades. According to the World Health Organization, 537 million people have diabetes worldwide in 2021, with one in ten having more than one type of the disease. Chronic diseases are also more prone to emerge in older and obese populations. According to the World Bank Group, there were 727 million senior people on the earth in 2020; by 2050, that number is expected to quadruple to 1.5 billion.. The United States Food and Drug Administration revised its definition of a biologic on February 21, 2020, to include chemically synthesised polypeptides with a length of at least 40 amino acids but no more than 100 amino acids (synthetic proteins) and synthetic peptides with no more than 40 amino acids. Therefore, it is anticipated that the reasons will fuel market expansion going forward. In addition, rising adoption of Peptide Microarrays is creating lucrative growth in the market. However, the high cost of Peptide Microarray stifles market growth throughout the forecast period of 2022-2029.
The key regions considered for the Global Peptide Microarray Market study include Asia Pacific, North America, Europe, Latin America, and Rest of the World. North America dominated the market in terms of revenue, owing to the dominance of branded products and the region’s increasing disease prevalence. Whereas Asia Pacific is expected to grow with the highest CAGR during the forecast period, owing to factors such as rising geriatric and target populations, an increase in the number of collaborations for biosimilar development, geographic expansion of key players, and active participation of government and nonprofit organizations in the market space.
Major market players included in this report are:
Raybiotech Life, Inc.
Aurora Instruments Ltd.
Kinexus Bioinformatics Corporation
Jpt Peptide Technologies
Recent Developments in the Market:
Ø In June 2022, with a EUR 25 million Series A financing round, Ariceum Therapeutics began developing its star product, Satoreotide, for the management of both low- and high-grade neuroendocrine tumours.
Ø In May 2022, Pfizer Inc. announced the acquisition of Biohaven Pharmaceutical Holding Company Ltd, the manufacturer of the ground-breaking dual-acting migraine treatment NURTEC ODT, which is approved for both episodic prevention and acute treatment of migraine in adults.
Global Peptide Microarray Market Report Scope:
Historical Data 2019-2020-2021
Base Year for Estimation 2021
Forecast period 2022-2029
Report Coverage Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
Segments Covered Type, Application, End-User, Region
Regional Scope North America; Europe; Asia Pacific; Latin America; Rest of the World
Customization Scope Free report customization (equivalent up to 8 analyst’s working hours) with purchase. Addition or alteration to country, regional & segment scope*
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.
The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and Typeofferings of key players. The detailed segments and sub-segment of the market are explained below:
Protein Functional Analysis
Pharmaceutical & Biotechnology Companies
Hospitals & Clinics
Rest of the World