The Protein Analysis Market is projected to grow from an estimated USD 925 million in 2018 to USD 1,088 million by 2023, at a CAGR of 3.3% during the forecast period. Growth in the Protein Sequencing market is mainly driven by the increasing focus on target-based drug development by pharmaceutical and biotechnology companies, advancements in clinical mass spectrometry and analytical techniques, and increasing public-private financial support for proteomic research.
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.
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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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