Protein Binding Assays Market - Growing Pressure to Reduce Drug Discovery and Development Costs

The base year considered for the study is 2017, and the forecast for the market size is provided for the period between 2018 and 2023.

(EMAILWIRE.COM, June 24, 2021 ) Major Growth Drivers for the Global Protein Binding Assays Market:

Rise in drug discovery activities

The global shortage of novel drugs and the demand for advanced drug therapies have both increased the focus on drug discovery. Most pharmaceutical and biotechnology companies are striving to cater to the demand for new drugs, leading to an increase in drug discovery activities. According to Statista, around 7,493 drugs entered the preclinical stage in 2017; this number is expected to reach 8,040 in 2018. This is translating into an increase in the total number of drug candidates being screened every year. Protein binding studies, carried out during the early stage of drug development, are a major part of the preclinical process.

Growing pressure to reduce drug discovery and development costs

The discovery and development of a drug is a very cost-intensive process as it requires major investments in terms of capital, human resources, and technological expertise. It also requires strict adherence to regulations on testing and manufacturing standards before a new drug can be prescribed to the general population. Moreover, if the drug fails in the later stages of development, the entire investment is lost. Thus, to avoid such late-stage attritions in drug development, pharmaceutical companies are investing extensively in early stage, preclinical testing methods.

Download PDF Brochure@
https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=44025612

Research Methodology Followed for This Study:

Top-down and bottom-up approaches were used to validate the size of the global protein binding assay market and estimate the size of various other dependent submarkets. Major players in the market were identified through secondary research and their market presence was studied through primary and secondary research. Secondary research included the study of the annual and financial reports of top market players, white papers, medical journals, certified publications, articles from recognized authors, directories, and databases such as Statista, WHO, OECD, American Association for Clinical Chemistry (AACC), European Federation of Pharmaceutical Industries and Associations (EFPIA), International Trade Association, NCBI, and National Health Service (NHS).

Primary research included extensive interviews with key opinion leaders such as CEOs, directors, and marketing executives. The percentage splits, shares, and breakdowns of the segments were determined using secondary sources and verified through primary sources. This data is consolidated and added to detailed inputs and analysis from MarketsandMarkets and presented in this report.

Expected Revenue Growth:

The global protein binding assays market is projected to reach USD 425.7 million in 2023 from USD 256.1 million in 2018, at CAGR of 10.7%.

End Users:

Based on end user, Contract Research Organizations (CROs) segment is expected to grow at the highest CAGR in the market during the forecast period

On the basis of end user, the global protein binding assays market is divided into pharmaceutical and biotechnology companies, CROs, and other end users. In 2018, the CROs segment is expected to grow at the highest CAGR in the global protein binding assays market. This high growth can be attributed to the increase increased protein binding studies for drug discovery & development by pharmaceuticals and the growing focus of biotechnology companies on developing biologics.

Asia Pacific is expected to grow at the highest CAGR during the forecast period

The APAC market is projected to register the highest growth rate during the forecast period primarily due to factors such as, growth of clinical trial activities in several APAC countries. As a result of this, the pharmaceutical and biopharmaceutical companies are outsourcing their drug discovery and development activities to APAC-based CROs. This is one of the major factors driving the growth of the protein binding assay market in the Asia Pacific.

Request Sample Pages@
https://www.marketsandmarkets.com/requestsampleNew.asp?id=44025612

Market Players

The key players in the global protein binding assays market are HTDialysis (US), Thermo Fisher Scientific (US), Merck (Germany), and Sovicell (Germany).

About MarketsandMarkets™

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets’s flagship competitive intelligence and market research platform, "Knowledgestore" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

Contact:
Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA : 1-888-600-6441
sales@marketsandmarkets.com