Global Protein Labeling Market To Have Growth Rate Of 13.5% Through 2023
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%. Increased spending on the R&D of proteomics and genomics is driving the growth of the protein labeling reagents market. However, label-free techniques are preferred over labeled techniques because of the drawbacks associated with them, such as wet-lab complexity and inflexibility.
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.
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The global protein labeling market is further segmented based on type and geography.
By Product: Reagents, Protein, Enzymes, Probes/ Tags, Monoclonal Antibodies
Labeling Method: In-Vitro Labeling, In-Vivo Labeling
By Application: Cell Based-Assay, Fluorescence Microscopy, Immunological Techniques, Mass Spectrometry, Protein Micro Assay.
By Geography: The global protein labeling market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, the North American protein labeling market accounts for the largest share in the global protein labeling market.
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Trends In The Protein Labeling Market
Companies in the protein labeling market are increasing their product innovation through strategic collaborations. To continue in the increasingly competitive market, companies are developing innovative products as well as sharing skills and expertise with other companies. While companies have long collaborated with each other as well as academic and research institutions in this market by way of partnerships, in or out-licensing deals, this trend has been increasing over recent years.
Protein Labeling Global Market Report 2020 is one of a series of new reports from The Business Research Company that provides protein labeling market overviews, analyzes and forecasts protein labeling market size and growth for the global protein labeling market, protein labeling market share, protein labeling market players, protein labeling market size, protein labeling market segments and geographies, protein labeling market trends, protein labeling market drivers and protein labeling market restraints, protein labeling market’s leading competitors’ revenues, profiles and market shares. The protein labeling market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.