Key Growth Strategies Adopted by Market Players in the Protein Binding Assays Market

The growing number of drug discovery activities, the minimizing drug discovery and development costs, and the increase in pharmaceutical R&D expenditure are driving the growth of this market.

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

The major players operating in the global protein binding assay market are Thermo Fisher (US), HTDialysis (US), Merck (US), GE Healthcare (US), and Absorption Systems (US). 

Most companies focus on agreements, collaborations, and partnerships to compete in the market.

The players also focus on increasing their presence in high-growth markets through acquisitions and product launches. Thermo Fisher (US), Sovicell (Germany) and 3B Pharmaceutical focus on partnerships, collaboration and license agreements to strengthen their position in the market.

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Some other leading players in the global protein binding assay market are Merck (Germany), Sovicell (Germany) GE Healthcare (US), and Absorption systems (US). These companies focus on product launches, agreements, collaborations, and partnerships to maintain their strong position in the market in the coming years.

Target Audience:

# Government and academic institutes
# Protein binding assay providers
# R&D departments
# Contract research organizations
# Pharmaceutical & biotechnology companies
# Consulting firms
# Government associations

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.

Restraints:
# Issues With Existing Technologies

Opportunities:
# Growing CRO Industry

Challenges:
# Development of in Silico-Based Prediction Models 

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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.