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The global protein labeling market size was USD 2.24 Billion in 2022 and is expected to reach USD 4.12 Billion in 2032 and register a revenue CAGR of 7%

NEW YORK CITY, NY, UNITED STATES, June 30, 2023/EINPresswire.com/ -- The Protein Labeling Market had a size of USD 2.24 Billion in 2022 and is projected to reach USD 4.12 Billion by 2032, with a compound annual growth rate (CAGR) of 7% during the forecast period. The increasing adoption of air conditioning systems in residential and commercial sectors due to rapid urbanization, population growth, and rising global temperatures is fueling the growth of the market. To cater to the growing demand for efficient and comfortable cooling solutions, manufacturers are focusing on the development of energy-efficient air conditioning systems.

The release of harmful chemicals such as Chlorofluorocarbons (CFC) and Hydro-Chlorofluorocarbons (HCFC) into the atmosphere damages the ecosystem and depletes the ozone layer, contributing significantly to global warming. The growing demand for portable and energy-efficient air conditioning systems is driving the market revenue growth. Moreover, increasing awareness among consumers about the importance of improving indoor air quality to prevent respiratory conditions caused by polluted air is leading to a rise in demand for air conditioning systems equipped with filters. These systems are becoming increasingly essential across various industries such as pharmaceuticals, building & construction, and food & beverages, thereby contributing to the growth of the market.

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Advancements in air filtration system technology are also bolstering the market revenue. The proliferation of Artificial Intelligence (AI) assistants and connected devices is driving the adoption of modern air filters and air conditioning systems in residential construction projects, which further contributes to the market's revenue growth.

Segments Covered in the Report –

The protein labeling market can be categorized into different product types. One of the types is fluorescent labeling, which involves the attachment of fluorescent molecules to proteins for detection and visualization purposes. This method allows researchers to track protein localization and study protein interactions. Another product type is enzymatic labeling, which utilizes enzymes to covalently attach labels to proteins. This technique is commonly used in enzyme-linked immunosorbent assays (ELISA) and other biochemical assays. Additionally, there are other types of protein labeling methods available in the market.

In terms of applications, protein labeling finds extensive use in various fields. One of the key applications is cell-based assays, where labeled proteins are employed to study cellular processes, protein expression, and drug discovery. Fluorescence microscopy is another important application, where fluorescently labeled proteins enable visualization and analysis of cellular structures and functions. Immunological techniques also utilize protein labeling, such as in immunohistochemistry and flow cytometry, to detect specific proteins in biological samples. Lastly, protein labeling has diverse applications beyond the mentioned categories, catering to a wide range of research needs.

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Strategic development:

• Thermo Fisher Scientific made an announcement in 2021 about its acquisition of PPD, Inc., a prominent contract research organization (CRO) offering drug development and laboratory services. The acquisition, valued at $17.4 billion, aimed to enhance Thermo Fisher's presence and expertise in the drug development and clinical research sectors.

• Merck KGaA, in 2020, revealed its acquisition of AmpTec GmbH, a biotechnology company based in Germany specializing in RNA synthesis. This strategic move aimed to strengthen Merck's capabilities in the development of mRNA-based therapeutics and vaccines.

• In the same year, PerkinElmer, Inc. completed the acquisition of Horizon Discovery Group plc, a UK-based biotechnology company known for its gene editing and gene modulation tools. This acquisition was intended to expand PerkinElmer's capabilities in the fields of gene editing and personalized medicine.

• F. Hoffmann-La Roche Ltd, in 2020, announced a collaboration with Illumina, Inc., a leading provider of DNA sequencing technology. Their joint objective was to develop a sequencing-based diagnostic test for cancer, aiming to create a new generation of cancer diagnostics that are faster, more accurate, and less invasive than existing methods.

• General Electric Company, also in 2020, disclosed its acquisition of Prismatic Sensors AB, a Swedish company specializing in the development of sensors for bioprocessing applications. This acquisition aimed to broaden GE's capabilities in the bioprocessing market.

Competitive Landscape:

The global protein labeling market is characterized by intense competition among key players, both large and medium-sized. These companies play a significant role in driving market revenue and employ various strategies to strengthen their market position and expand their market share.

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Some of the major players in the global protein labeling market are Thermo Fisher Scientific Inc., Merck KGaA, PerkinElmer, Inc., F. Hoffmann-La Roche Ltd, General Electric Company, KANEKA CORPORATION, Bio-Rad Laboratories, Inc., Agilent Technologies, Inc., New England Biolabs Inc., and Promega Corporation. These companies are actively involved in mergers and acquisitions, partnerships, and product launches to gain a competitive edge in the market.

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