PUBLISHER: UnivDatos Market Insights Pvt Ltd | PRODUCT CODE: 1055776
PUBLISHER: UnivDatos Market Insights Pvt Ltd | PRODUCT CODE: 1055776
Global Protein Characterization & Identification Market is anticipated to grow with an elevated CAGR of around 12% over the forecast period (2021-2027). Protein characterization and identification is the method for analyzing the contents of protein on the basis of their molecular weight and charge. It is the basic research process which is commonly used in various clinical diagnosis procedures, environmental research and drug discovery and development.
With rapid technological advancement and rising investment in research & development of pharmaceutical & biotechnology companies, the protein characterization and identification market is witnessing an uptick all over the globe. For instance, the Pharmaceutical Research and Manufacturers of America (PhRMA) trade group represents the leading biopharmaceutical research companies in the United States. In 2019, the research and development (R&D) expenditure of its member companies reached USD 83 billion worldwide, up from USD 79.6 billion in 2018. Furthermore, the growing focus on the launch of new drugs owing to the support by the government for research and investments is propelling the growth of this market.
Furthermore, the rapid advancement in technology, rising demand for personalized medicine and government funding for proteomics leading to an increase in the strategic alliances in this field to address the challenges faced by many industry players for finding all the necessary expertise to cover all activities involved in proteomics are some of the prominent factors that are significantly impacting the growth of protein characterization and identification market. For example, in 2020, Bruker Corporation and Utrecht University came into a collaboration for developing new methods for studying protein structures & interactions using mass spectrophotometry.
Merck KGaA, Thermo Fisher Scientific, Inc., Danaher Corporation, Sartorius AG, Agilent Technologies, Waters Corporation, QIAGEN N.V., Bio-Rad Laboratories, Inc., PerkinElmer, Inc., Promega Corporation, are some of the prominent players operating in the protein characterization and identification market. Several M&As along with partnerships have been undertaken by these players to facilitate customers with new products for protein characterization and identification.
Based on product & services, the protein characterization and identification market is segmented into consumables, instruments, and services. The consumables segment accounted for a significant market share in 2020 and it is estimated that it will exhibit the highest CAGR during the forecast period. The growth of this segment is attributed to the increase in research for the discovery of novel drugs and thus, the requirement of the repeat purchase of a wide range of reagents and other consumables. Also, the need for reliable and rapid detection of diseases at the early stages are also some of the factors contributing to the growth of this segment.
Based on application, the protein characterization and identification market is divided into drug discovery & development, clinical diagnosis, and other applications. The drug discovery & development segment occupied the major share of the protein characterization and identification market in 2020 and it is expected to grow with substantial CAGR in the upcoming years. The growth of this segment is attributed to the rise in R&D expenditure and increase in the number of clinical trials for developing advanced therapeutics.
Based on end-user, the market is fragmented into pharmaceutical & biotechnology companies, academic research institutions, contract research organizations, and others. In 2020, the pharmaceutical & biotechnology companies segment grabbed the considerable market share, and it is expected to grow at the significant CAGR during the forecast period owing to growth in drug discovery activities in these companies ensuring the sustained demand for market technologies.
For a better understanding of the market dynamics of the protein characterization and identification market, a detailed analysis was conducted for different regions across the globe including North America (the U.S, Canada, and the Rest of North America), Europe (Germany, France, Spain, United Kingdom, Italy, and Rest of Europe), Asia-Pacific (China, India, Australia, Japan, and Rest of APAC), Rest of World has been conducted. North America constitutes a major market for the protein characterization and identification market industry and generated revenue of USD XX Million in 2020 owing to the presence of well-established market players in the region.
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