The protein labeling market consists of sales of protein labeling products and related services by entities (organizations, sole traders and partnerships) that produce protein labeling products to diagnose various diseases. Protein labeling refers to the use of appropriate molecular labels to detect or purify proteins and their binding partners in tissues, cells, and biochemical assays.
The global protein labeling market is expected to decline from $1.67 billion in 2019 to $1.61 billion in 2020 at a compound annual growth rate (CAGR) of -3.66%. The decline is mainly due to the COVID-19 outbreak that has led to restrictive containment measures involving social distancing, remote working, and the closure of industries and other commercial activities resulting in operational challenges. The entire supply chain has been disrupted, impacting the market negatively. The market is then expected to recover and reach $2.35 billion in 2023 at a CAGR of 13.56%.