The global market for peptide microarrays is anticipated to expand at a 4.5% CAGR during the forecast period of 2024 and 2032. Peptide microarrays are a robust technique for tracking the binding activity, histone-modifying enzymes, and protein linkage function on a large scale in the fields of proteomics and clinical assays. Rising cancer rates and technological advancements are the primary factors driving the industry's global expansion. Due to the increase in chronic diseases, the demand for molecular diagnostic tools has increased in recent years. In addition, peptide microarray diagnostic tools are reasonably priced, which promotes industry growth. In January of 2020, the company PEPperPRINT introduced the proteome-wide peptide microarray containing the COVID-19 2019-nCoV coronavirus. It is utilized to detect and localize IgG and IgM Abs in a patient's serum. This is done for diagnostic vaccine production testing. This is one of the factors driving market growth and industry expansion.
The market under study is primarily driven by the increasing incidence of cancer and technological advancement. In addition, the rising prevalence of chronic diseases will increase the demand for peptide microarrays. This number is projected to increase to 643 million by 2030 and 785 million by 2045, according to the International Diabetes Federation Diabetes Atlas Tenth edition 2021. The anticipated increase in diabetes incidence will increase demand for diabetes diagnostic products and techniques, driving the market under study. According to the Global Cancer Observatory (GLOBOCAN), Statistics 2020, there will be an estimated 206,606,063 cases of all cancer types and both sexes in Asia in 2020. In addition, it reported a 5-year prevalence of 9,738,936 cases of all types of cancer among men and 10,857,127 cases among women. This high incidence of cancer in the regions generates demand for cancer treatment therapies, thereby driving the expansion of the market under study. In addition, the market for peptide microarrays is driven by the increasing demand for molecular-based diagnostic techniques and the advancement of diagnostic testing technology. On February 21, 2020, the Food and Drug Administration updated its definition of a biologic 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 or fewer amino acids. Thus, it is anticipated that the aforementioned factors will contribute to future market expansion.
However, reimbursement barriers are expected to impede industry expansion. Understanding the role of COVID-19 in SARS-CoV-2 infection is crucial for the development of effective treatments. The field of proteomics is equipped with the necessary techniques to address this difficulty. In an article published in the Journal of Proteins & Proteomics in October 2020, for example, researchers emphasized that advances in proteome technology will not only expedite efforts to combat the coronavirus pandemic but will also aid in addressing the current COVID-19 situation.
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The global market is subdivided by product type into services, instruments, and reagents. During the period between 2024 and 2032, it is anticipated that the services segment will experience the highest CAGR of 5%. Multiple businesses with specialized expertise offer microarray service solutions. This application may be outsourced to save time and money while gaining access to specialized technical skills and facilities for the diversification of microarray-based research. These services can provide researchers with the benefits of customized screening of a vast array of distinct targets and markers. As a result, it is anticipated that demand for peptide microarrays will increase, contributing to the segment's expansion.
The instruments subsegment of the peptide microarray market was the largest. 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 segment of the market for instruments will experience robust growth and continue to do so over the forecast period. PEPperPRIINT'sPEPperCHIP Standard Peptide Microarrays, which cover epitopes, antigens, and viral proteomics, are utilized in a number of scientific disciplines (allergen, cancer, and signature discovery). In addition, they are employed for antibody epitope mapping, biomarker discovery, immune monitoring, protein interaction detection, and validation. JPT Peptide Technologies' PepStar Peptide Microarrays aid in enzyme profiling and identify substrates for orphan enzymes. Because peptide products are cost-effective, efficient, and less toxic, their research and development are increasing. In September 2021, Nimble Therapeutics, a biotechnology company engaged in the discovery and development of peptide therapeutics, announced that their strategic research partnership with Incyte had been expanded to include the discovery of additional novel peptide therapies. In November 2020, PEPperPRINT also announced a partnership with Lucena-Chem. A new distribution agreement grants customers in Switzerland access to PEPperCHIP Peptide Microarray products and PEPperMAP Services via Lucenna-Chem. As a result, it is anticipated that these agreements will increase market growth by supplying the region with advanced instruments.
In 2023, disease diagnostics was the industry leader and accounted for more than 55 percent of total revenue. The increasing complexity of chronic diseases is expected to increase the demand for early disease diagnosis in hospitals, leading to an expansion of diagnostic capacities, which is expected to increase the use of peptide microarrays. In 2023, the American Cancer Society anticipates that there will be 1.9 million new cases of cancer and 609,360 cancer-related deaths in the United States. In the United States, breast, lung, prostate, and colon cancers were the most prevalent.
It is anticipated that these factors will help the segment maintain its industry dominance. Antibody characterization is anticipated to experience the highest growth rate between 2023 and 2030. In the creation of new pharmaceuticals and biosimilars, antibodies are both upstream and downstream characterized. During the early phases of drug development, characterization studies are crucial for identifying the correct mAb molecule by defining the most important qualitative parameters. Additionally, it can be utilized to determine antibody type, epitope specificity, binding kinetics, cross-reactivity, and antibody affinity, thereby promoting segment expansion.
The pharmaceutical and biotechnology companies segment dominated the industry in 2023, generating more than 55 percent of total revenue. From 2023 to 2030, the segment is anticipated to grow at a rapid rate. Numerous major corporations invest in R&D to create products and services for the early detection and management of chronic diseases. As a result, businesses are adopting improved microarray technologies, which is driving the global microarray market.
Nimble Medicines, a biotechnology company that specializes in the discovery and production of peptide therapeutics, announced in September 2021 that its strategic research agreement with Incyte had been extended to include the development of additional innovative peptide therapeutics. In November 2020, PEPperPRINT announced a collaboration with Lucena-Chem. A new distribution agreement grants Lucerna-Chem customers in Switzerland access to PEPperCHIP Peptide Microarray products and PEPperMAP Services. As a result, it is anticipated that these agreements will stimulate market growth in the region by supplying sophisticated instruments.
North America dominated the global industry in 2023, accounting for more than 45 percent of the total revenue. North America is anticipated to dominate the peptide microarrays market due to its rising healthcare expenditures and well-developed healthcare infrastructure. The increasing complexity of chronic diseases is expected to increase the demand for early disease diagnosis in hospitals, thereby increasing the utilization of diagnostic capabilities, which is expected to increase the use of peptide microarrays. The estimated incidence of new cancer cases in the United States in 2020, according to Globocan 2020, is 2,281,658, and the number of cancer-related deaths is 612,390. The most prevalent cancers in the United States were breast, lung, prostate, and colon (101,809). Cancer's prevalence will drive up demand for peptide microarrays. Increasing molecular-based diagnostic techniques and rising population consciousness also contribute to the growth of the regional market. Nimble Therapeutics and RayzeBio, for instance, announced a strategic alliance in June 2021 to discover and develop novel peptide-based radiopharmaceuticals for the treatment of cancer. As announced in May 2021, analysts anticipate the introduction of generic versions of Advair, Revlimid, and Abraxane in the United States during Cipla's fiscal year 2023. Additionally, collaborative filings for injectable peptides improve pipeline opportunities. Consequently, the region's expanding product pipeline is anticipated to stimulate market growth. In contrast, the Asia-Pacific region is projected 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. In Indonesia, the prevalence of chronic diseases has increased, and the rising demand for rapid and accurate diagnosis can be met by microarrays, which will further stimulate market growth in the Asia-Pacific region.
The market for peptide microarrays is moderately competitive, with a number of significant players. The market is currently dominated by Merck KGaA, ProImmune Ltd, JPT Peptide Technologies, Terra Universal Inc., and Arrayit Corporation, among others. The continued demand for peptide microarray solutions from multiple end-users has created numerous growth opportunities for industry participants. Ariceum Therapeutics, for example, raised EUR 25 million in Series A funding in June 2023 in order to enhance its lead asset, Satoreotide, for the diagnosis of low- and high-grade neuroendocrine cancers.
