Protein Sequencing Market Growth Worldwide Business Overview By Top Manufacturers And Sales Revenue Forecast to 2023

The Protein Sequencing Market is projected to reach USD 1,088 million by 2023 from USD 925 million in 2018, at a CAGR of 3.3%. Factors such as increasing financial support from government and private bodies for proteomic research, advancements in clinical mass spectrometry and analytical techniques, and significant adoption of target-based drug development by pharmaceutical and biotechnology companies are expected to propel the growth of the market.

 

 

The protein sequencing market comprises several stakeholders such as protein sequencing equipment manufacturers, vendors, and distributors; protein sequencing service companies; protein sequencing bioinformatics/data analysis companies; research laboratories and academic institutes; venture capitalists and other government funding organizations; research and consulting firms; pharmaceutical and biotechnology companies; contract manufacturing organizations (CMOs); and contract research organizations (CROs).

The demand side of this market is characterized by increasing use of proteomic research in drug discovery (cell line development, verification of correct protein expressions, and protein degradation analysis), increasing RD expenditure of major pharmaceutical and biotechnology companies, and patent expiry of major blockbuster drugs. The supply side is characterized by advancements in technology. Various primary sources from both the supply and demand sides of the market were interviewed to obtain qualitative and quantitative information. The following is a breakdown of primary respondents:

By product service, the protein sequencing services segment is expected to grow at the highest rate during the forecast period
Growth in the protein sequencing services segment can be attributed to factors such as the launch of technologically advanced instruments, software, and services for protein sequencing; the high cost of sequencing infrastructure; complexities associated with protein sequencing procedures; and the availability of cutting-edge sequencing infrastructure among service providers.

By technology, mass spectrometry is expected to be the largest contributor to the protein sequencing market
The large share of the mass spectrometry segment can be attributed to its advantages, such as high-throughput sequencing capabilities, cost efficiency, and identification of blocked or modified proteins. Market growth is also due to the increasing focus of market players on launching technologically advanced mass spectrometry instruments and increasing application of mass spectrometry in Proteomics research.

By end user, the academic institutes and research centers segment is expected to be the largest contributor to the protein sequencing market
The increase in funding for proteomic research by public and private institutes is a major factor driving the growth of the academic institutes and research centers segment. Academic institutes and research centers use protein sequencing for proteomic research. These facilities rely on protein sequencing providers to carry out proteomic research due to lack of infrastructure, a limited number of samples, and budget constraints to procure protein sequencing consumables. Also, various academic institutes and research centers provide various protein sequencing services, such as mass spectrometry and Edman degradation.
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