The global peptide microarray market is projected to expand at a CAGR of 4.5% during the forecast period of 2024 to 2032. In the fields of proteomics and clinical assays, peptide microarrays are a robust technique for tracking the binding activity, histone-modifying enzymes, and protein linkage function on a large scale. The rising incidence of cancer and advances in technology are the primary factors driving the industry's expansion worldwide. In recent years, there has been an increase in the demand for molecular diagnostic tools due to the rise in chronic diseases. In addition, peptide microarray diagnostic tools are affordable, which drives industry expansion. The proteome-wide peptide microarray containing the COVID-19 2019-nCoV coronavirus was introduced by the company PEPperPRINT in January 2020. It is used to detect and localize IgG and IgM Abs in the serum of a patient. This is done for diagnostic tests regarding vaccine production. It is one of the factors accelerating the market and driving industry expansion.
Increasing Cancer Prevalence
Cancer's increasing prevalence and technological development are the primary forces driving the global market under study. In addition, the increasing prevalence of chronic diseases will boost the peptide microarray market. According to the International Diabetes Federation Diabetes Atlas Tenth edition 2021, approximately 537 million adults worldwide had diabetes in 2021; this number is projected to increase to 643 million by 2030 and 785 million by 2045. The anticipated increase in diabetes incidence will increase the demand for diabetes diagnostic products and techniques, thereby driving the studied market. According to the Global Cancer Observatory (GLOBOCAN), Statistics 2020, there are an estimated 206,606,063 prevalent cases of cancer in Asia in 2020 for all types of cancer and both sexes. It also reported a 5-year prevalence of 9,738,936 cases of all types of cancer in men and 10,857,127 cases in women. Such a high prevalence of cancer in the regions generates demand for cancer treatment therapies, thereby driving the growth of the studied market. In addition, the market for peptide microarrays is dominated by the rising demand for molecular-based diagnostics techniques and the development of diagnostic testing technology. The United States Food and Drug Administration updated its definition of a biologic on February 21, 2020, to include chemically synthesized polypeptides greater than 40 amino acids but less than 100 amino acids in size (synthetic proteins) and synthetic peptides containing 40 amino acids or fewer. Thus, it is anticipated that the aforementioned factors will increase market growth in the future.
Reimbursement Issues Constrained the Market Growth
However, reimbursement obstacles are anticipated to impede industry growth. Understanding the role of COVID-19 in the SARS-CoV-2 infection process is essential for the development of effective treatments. Proteomics is well-equipped with the necessary techniques to address this challenge. In an article published in the Journal of Proteins &Proteomics in October 2020, for instance, researchers emphasized that advances in proteome technology will not only expedite efforts to combat the coronavirus pandemic but also help to address the current COVID-19 situation.
Instruments Segment Dominates the Revenue Share, while Service Segment Grows the Fastest
On the basis of product types, the global market is subdivided into services, instruments, and reagents. During the forecast period of 2023 and 2031, the services type segment is anticipated to experience the highest CAGR of 5%. Multiple specialized businesses provide microarray service solutions. This application may be outsourced to save time and resources while gaining access to specialized technical skills and facilities for microarray-based research diversification. These services can offer researchers the advantages of customized screening of a large number of distinct targets and markers. Consequently, it is anticipated that this will increase the demand for peptide microarrays and further boost the segment's growth.
The instruments subsegment represented a major portion of the peptide microarray market Due to technologically advanced peptide microarray products and various types of research in chronic disorders, such as cancer, autoimmune and infectious diseases, it is anticipated that the instrument segment will experience robust growth in the market and will continue to do so over the forecast period. PEPperPRIINT'sPEPperCHIP Standard Peptide Microarrays, which cover epitopes, antigens, and viral proteomics, are widely utilized in a variety of scientific fields (allergen, cancer, and signature discovery). In addition, they are utilized for antibody epitope mapping, biomarker discovery, immune monitoring, detection, and validation of protein interaction. PepStar Peptide Microarrays, manufactured by JPT Peptide Technologies, aid in enzyme profiling and identifies substrates for orphan enzymes. The research and development of peptide products is increasing because they are cost-effective, efficient, and less toxic. Nimble Therapeutics, a biotechnology company engaged in the discovery and development of peptide therapeutics, announced in September 2021 that their strategic research partnership with Incyte has been expanded to include the discovery of additional novel peptide therapies. Similarly, PEPperPRINT announced a partnership with Lucena-Chem in November 2020. Customers in Switzerland can now access PEPperCHIP Peptide Microarray products and PEPperMAP Services through Lucenna-Chem, per a new distribution agreement. Consequently, it is anticipated that such agreements will increase market growth by providing advanced instruments in the region.
Diagnostics Segment Contributed to More than Half of Market Revenue in 2023
In 2023, the disease diagnostics segment led the industry and accounted for more than 55% of total revenue. The increasing complexity of chronic diseases is anticipated to increase the demand for early disease diagnosis in hospitals, resulting in an expansion of diagnostic capacities, which is anticipated to increase the use of peptide microarrays. The American Cancer Society projects that there will be 1,9 million new cancer cases and 609,360 cancer-related deaths in the United States in 2023. Cancers of the breast, lungs, prostate, and colon were the most prevalent in the United States.
These factors are anticipated to help the segment maintain its industry dominance. From 2023 to 2030, antibody characterization is expected to experience the highest growth rate. In the development of new pharmaceuticals and biosimilars, antibodies are characterized both upstream and downstream. During the early stages of drug development, characterization studies are essential for screening the correct mAb molecule by defining the critical qualitative parameters. In addition, it can be used to determine antibody type, epitope specificity, binding kinetics, cross-reactivity, and antibody affinity, thereby fostering segment expansion.
Pharma and Biotech Remain the Dominant End User Segment
In 2023, the pharmaceutical and biotechnology companies segment dominated the industry and accounted for more than 55% of total revenue. From 2023 to 2030, it is anticipated that the segment will expand at a substantial rate. Numerous major corporations are investing in research and development to develop products and services for the early detection and management of chronic diseases. Consequently, organizations are adopting improved microarray technologies, which is driving the global microarray market.
In September 2021, Nimble Medicines, a biotechnology company engaged in the discovery and production of peptide therapeutics, announced that its strategic research agreement with Incyte had been extended to include the development of additional innovative peptide therapeutics. PEPperPRINT announced a collaboration with Lucena-Chem in November 2020. A new distribution agreement gives customers in Switzerland access to PEPperCHIP Peptide Microarray products and PEPperMAP Services via Lucerna-Chem. As a result, it is anticipated that such agreements will stimulate market growth in the region by providing advanced instruments.
North America Remains as the Global Leader
In 2023, the North American region dominated the global industry and accounted for more than 45% of the overall revenue. The market for peptide microarrays is anticipated to be dominated by North America due to its rising healthcare expenditures and well-developed healthcare infrastructure. The increasing complexities of chronic diseases are anticipated to increase the demand for early disease diagnosis in hospitals, thereby increasing the use of diagnostic capabilities, which is anticipated to increase the use of peptide microarrays. According to Globocan 2020, the estimated incidence of new cancer cases in the United States in 2020 is 2,281,658, and the number of cancer-related deaths is 612,390. In the United States, the most prevalent cancers were breast, lung, prostate, and colon (101,809). The prevalence of cancer will increase the demand for peptide microarrays. Increasing molecular-based diagnostic techniques and rising population awareness also contribute to the expansion of the regional market. In June 2021, for instance, Nimble Therapeutics and RayzeBio announced a strategic partnership to discover and develop novel peptide-based radiopharmaceuticals for the treatment of cancer. Analysts anticipate that generic versions of Advair, Revlimid, and Abraxane will be introduced in the United States during Cipla's fiscal year 2023, as announced in May 2021. Partnered filings for injectable peptides also enhance pipeline opportunities. Consequently, such an expanding product pipeline in the region is anticipated to stimulate market expansion. On the other hand, the Asia-Pacific region is anticipated to experience the highest growth rate over the forecast period, owing to increased government support in the healthcare industry, high awareness about antibody-based research, and expansion of proteomics in the region. The prevalence of chronic diseases has increased in Indonesia, and the rising demand for rapid and accurate diagnosis can be met by microarrays, which will further propel market growth in the Asia-Pacific region.
Market Competition to Intensify During the Forecast Period
The market for peptide microarrays is moderately competitive and comprises a number of major players. Merck KGaA, ProImmune Ltd, JPT Peptide Technologies, Terra Universal Inc., and Arrayit Corporation, among others, currently dominate the market. Multiple end-users ongoing demand for peptide microarray solutions has created numerous growth opportunities for industry participants. In June 2023, for instance, Ariceum Therapeutics raised EUR 25 million in Series A funding to enhance its lead asset, Satoreotide, for the diagnosis of low- and high-grade neuroendocrine cancers.
Historical & Forecast Period
This study report represents analysis of each segment from 2022 to 2032 considering 2023 as the base year. Compounded Annual Growth Rate (CAGR) for each of the respective segments estimated for the forecast period of 2024 to 2032.
The current report comprises of quantitative market estimations for each micro market for every geographical region and qualitative market analysis such as micro and macro environment analysis, market trends, competitive intelligence, segment analysis, porters five force model, top winning strategies, top investment markets, emerging trends and technological analysis, case studies, strategic conclusions and recommendations and other key market insights.
Research Methodology
The complete research study was conducted in three phases, namely: secondary research, primary research, and expert panel review. key data point that enables the estimation of Peptide Microarrays market are as follows:
Market forecast was performed through proprietary software that analyzes various qualitative and quantitative factors. Growth rate and CAGR were estimated through intensive secondary and primary research. Data triangulation across various data points provides accuracy across various analyzed market segments in the report. Application of both top down and bottom-up approach for validation of market estimation assures logical, methodical and mathematical consistency of the quantitative data.
| ATTRIBUTE | DETAILS |
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| Research Period | 2022-2032 |
| Base Year | 2023 |
| Forecast Period | 2024-2032 |
| Historical Year | 2022 |
| Unit | USD Million |
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Key questions answered in this report
