MarketsandMarkets New release: Protein Sequencing Market Report with Competitive Analysis
The study involved four major activities to estimate the current market size for protein sequencing. Exhaustive secondary research was done to collect information on the market and its different subsegments. The next step was to validate these findings, assumptions, and sizing with industry experts across the value chain through primary research. Both top-down and bottom-up approaches were employed to estimate the complete market size. Thereafter, market breakdown and data triangulation were used to estimate the market size of segments and subsegments.
[118 Pages Report] The global 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% during the forecast period.
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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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Key Market Players
Some of the prominent players in the protein sequencing market include Shimadzu (Japan), Thermo Fisher Scientific Inc. (US), SGS S.A. (Switzerland), Waters Corporation (US), Rapid Novor (Canada), Agilent Technologies (US), Charles River Laboratories (US) and Selvita (Poland).
Report Objectives
To define, describe, and forecast the protein sequencing market based on product & service, technology, application, end user, and region
To provide detailed information regarding the major factors influencing the growth of the market (drivers, restraints, opportunities, and industry-specific challenges) along with the current trends
To strategically analyze micromarkets1 with respect to their individual growth trends, prospects, and contributions to the total market
To analyze market opportunities for stakeholders and provide details of the competitive landscape for key players
To forecast the size of the protein sequencing market in North America, Europe, Asia Pacific, and the Rest of the World (RoW)
To strategically profile key players and comprehensively analyze their market shares and core competencies