According to a new report published by Allied Market Research, titled, " Protein Sequencing Market by Product and Service, Technology, Application, and End User: Global Opportunity Analysis and Industry Forecast, 2019-2026," the global protein sequencing market size is expected to reach $ 9,926.7 million by 2026, registering a CAGR of 7.8% from 2019 to 2026, in terms of value.
Protein sequencing is a method used to determine the amino acid sequence of proteins and scrutiny of the sequence, for instance, to infer protein conformation. Protein sequencing finds its wide applications in the field of genetic engineering, and biotherapeutics. Techniques used for performing protein sequencing include mass spectrometry and the Edman degradation. Sequencing plays a vital role in proteomics as the information deduced can be used to infer function, structure, and location of novel proteins as well as to understand the cellular processes.
Surge in focus toward target-based drug development by pharmaceutical and biotechnology companies is the major factor anticipated to drive the protein sequencing market growth. Further, advancements in clinical mass spectrometry & analytical techniques and rise in public-private financial support for proteomic research propels the market growth in the near future. However, the uptake of protein sequencing method is constrained by the high cost of infrastructures and equipment, such as that of mass spectrometers. In addition, dearth of skilled researchers and laboratory professionals are also the major factors hampering the market growth. On the contrary, technological advancements for the identification of isobaric residues in protein sequences are expected to create lucrative opportunities and thus, generating new protein sequencing market trends in near future.
Based on technology, the Edman degradation segment accounted for 58% share in the protein sequencing market in 2018. This segment is expected to exhibit a prominent growth rate, owing to its wide usage for protein sequencing. However, mass spectrometry is anticipated to grow at the fastest growth rate during the forecast period. This is attributed to its fast, precise, accurate protein sequencing ability. The technique can even sequence large peptide sequences that too in lesser time than Edman degradation.
Based on protein sequencing market analysis, by application, the biopharmaceuticals segment dominated the protein sequencing market in 2018 and is anticipated to maintain its dominance during the forecast period. This is attributed to the increased research toward the development of protein-based innovative and novel biotherapeutics for treatment of various diseases. The usage of protein sequencing for development of biopharmaceuticals in the new and potent are of research that is anticipated to create lucrative opportunities in the near future.
Key Findings of the Protein Sequencing Market :
- By product & service, the reagent & consumables segment accounted for the highest market share of 57% in 2018 and is anticipated to grow at the fastest rate during the forecast period.
- By region, North America was the major shareholder and accounted for the highest share of 40% in 2018.
- By application, the biopharmaceuticals segment is expected to grow at a CAGR of 8.5% during the forecast period.
- By end user, the biotechnology & pharmaceutical company segment dominated the market in 2018 and is anticipated to maintain its dominance during the forecast period.
Comprehensive competitive analysis and profiles of major market players such as Bioinformatics Solutions Inc., Charles River Laboratories, Agilent Technologies, Inc., Proteome Factory, Rapid Novor Inc., Selvita, SGS, Shimadzu Corporation, Thermo Fisher Scientific Inc., and Waters Corporation are provided in this report.