Protein Sequencing Market : Analysed By Business Growth, Development Factors, Applications, And Future Prospects
The global protein sequencing market is growing continually. Market growth attributes to the exponential growth in research related to nucleotides such as DNA, RNA, or proteins in the pharmaceutical, agriculture, and biotech industries. Also, there are surging patent filings encompassing nucleotide or protein sequences. Moreover, rise in the information about the targets of immune responses to coronaviruses across different species provides a valuable resource for protein sequencing.
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Besides, increasing studies targeting novel coronaviruses and awareness for the importance of their research escalate the market growth to furthered height. According to Market Research Future (MRFR), the global protein sequencing market created a value of USD 892.5 million in 2017, further expected to be appreciated at 3.6% CAGR over the estimated period (2018 – 2023). Rising focus of biotechnology and pharmaceutical companies on target-based drug development boosts the market growth.
Protein Sequencing Market - Segments
The report is segmented into six dynamics.
By Products & Services: Reagents and consumables and Instruments (Mass Spectrometry Instruments and Edman Degradation Sequencers), Analysis Products/Software, Protein Sequencing Services, and others.
By Technology : Mass Spectrometry, Edman Degradation, and others.
By Application : Biotherapeutics, Genetic Engineering, and others.
By End User : Pharmaceutical & Biotechnology Companies, Academic Institutes & Research Centers, and others.
By Regions : America, Europe, Asia Pacific, and Rest of the World.
Protein Sequencing Market - Regional Analysis
North America dominates the global protein sequencing market. The largest market share attributes to the rising application of protein sequencing in proteomics research and the development of protein sequencing in the region. Besides, the availability of research funding and the presence of global players encourage research and development in the field. Moreover, the rising demands for protein sequencing procedures and increased uptake of advanced technologies substantiate market growth.
Europe stands second in the global protein sequencing market. The market is predominantly driven by the increasing proteomics research and the availability of funding and infrastructure for research. Also, recent advancements in biotechnology, coupled with the augmenting uptake of advanced technologies in the region, push the market growth. Additionally, the presence of a large medical device industry and rising R&D investments facilitate regional market growth.
The protein sequencing market is brisk in the Asia Pacific region. Factors such as the increasing government funding for R&D and growing numbers of biopharmaceutical companies in the region drive the market growth. Also, support and funding from public & private sectors for research & development fuel the market growth.
Moreover, the rising demand for protein sequencing procedures and increasing adoption of advanced techniques propel the regional market growth. The regional market receives major contributions from South Korea, Japan, India, and China. The APAC protein sequencing market is expected to register a phenomenal CAGR during the forecast period.
Global Protein Sequencing Market - Competitive Analysis
The rapidly growing market for protein sequencing appears highly competitive and fragmented due to the presence of many well-established players. To gain a larger competitive share, these players incorporate strategies such as mergers & acquisitions, collaboration, expansion, and product launch. Players invest substantially in R&D and trials to develop new processes.
Companies also focus on regions with high unmet needs and require further innovation despite the progress that has been made. This market demonstrates pretty good growth prospects that are expected to attract new entrants, further intensifying the market competition.
Players leading the global protein sequencing market include Charles River Laboratories, Bioinformatics Solutions, Agilent Technologies, Inc., Rapid Novor Inc., Proteome Factory, Selvita, Shimadzu Corporation, SGS, Waters Corporation, and Thermo Fisher Scientific Inc., among others.
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