Protein Characterization and Identification Market to be Dominated by Drug Discovery & Development through 2028

According to TechSci Research report, “Protein Characterization and Identification Market - Global Industry Size, Share, Trends, Opportunity, and Forecast, 2018-2028F”, Global Protein Characterization and Identification market is expected to grow at an impressive rate during the forecast period, 2024-2028. This can be ascribed to the rise in R&D expenditure in the pharmaceutical sector and government funding, opportunities in the field of proteomics, and advancements in protein technology across the region. Moreover, rising incidences of chronic diseases and rising research and development activity are the major factors driving the growth of the market during the forecast period. Furthermore, growing adoption of biologics and biomarkers for detecting different diseases is expected to further boost the growth of the global Protein Characterization and Identification market during the forecast period. Besides, governments around the world are providing support for development of healthcare industry, including funding for research and development, which is driving the demand for Protein Characterization and Identification market during the forecast period.

However, the cost of proteomic technologies, such as mass spectrometry and chromatography can slow down the growth of the global Protein Characterization and Identification market during the forecast period. Moreover, lack of skilled professionals may restrict the growth of the global Protein Characterization and Identification market. Similarly, complexity of protein analysis, challenges related to data analysis interpretation of protein characterization and stringent regulatory requirements, particularly in the pharmaceutical industry may hamper the growth of the market during the forecast period.

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Global Protein Characterization and Identification market is segmented on the basis of product and service, technology, application, and region.

Based on the application, the global Protein Characterization and Identification market can be further segmented into drug discovery & development, clinical diagnosis, and others. The drug discovery & development segment dominated the market in 2022 and is expected to continue maintaining its dominance throughout the forecast period. This can be ascribed to rising research and development expenditure and increasing number of clinical trials for developing advanced techniques. Moreover, growing investments are now being made in firms that are developing the next generation of genomics and bioinformatics is expected to create lucrative growth during the forecast period.

Based on end user, the market can be further segmented into pharmaceuticals & biotechnology companies, academic research institutes, contract research organizations, and others. The Pharmaceuticals & Biotechnology companies segment is expected to dominate during the forecast period on account of the increasing research and development activities in the pharmaceutical and biotechnology industries for novel drug discovery along with collaboration between market players and academic institutes.

Major companies operating in the global Protein Characterization and Identification market are:

·         Agilent Technologies

·         Analytik Jena

·         Bio-Rad Laboratories

·         Bruker Corporation

·         Cleaver Scientific

·         Danaher Corporation

·         Eurofins Scientific

·         Horiba Ltd.

·         Jeol Ltd.

·         Merck KGaA

·         PerkinElmer, Inc.

·         Promega Corporation

·         QIAGEN NV

In April 2022, PerkinElmer, Inc. launched two ready-to-use HTRF and AlphaLISA no-wash assay kits designed to quickly and easily detect and quantify CHO HCP (Host Cell Protein) impurities during biopharmaceutical manufacturing.

In April 2022, Waters Corporation WAT added the new Xevo TQ Absolute system to its portfolio offerings of mass spectrometers.

In April 2019, Perkin Elmer completed the acquisition of Cisbio Bioassays to expand its DELFIA, Alpha, and LANCE assay technologies. The acquisition added Cisbio’s capabilities to PerkinElmer, which provided its researchers access to an expanded range of assay tools for small molecule and biologic drug discovery.

In June 2021, Thermo Fisher Scientific launched a mass spectrometer, Orbitrap IQ-X Tribrid, principally to reveal complex chemical structures for compound identification & structure explanation of small molecules.

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“North America is expected to dominate in the Global Protein Characterization and Identification market owing to the presence of many pharmaceutical and biotechnology companies in the region, as well as significant government funding for research and development in life sciences. Similarly, growing demand for protein characterization and identification services, as these technologies are critical for developing new treatments and therapies along with growing prevalence of chronic diseases is expected to create lucrative growth in the market during the forecast period. Moreover, growing government funding for healthcare infrastructure, and a large and rapidly expanding population is expected to drive the growth of the market during the forecast period. Furthermore, increased R&D spending in proteomics research and increased market demand for high-quality analytical equipment for protein analysis is further expected to create lucrative opportunities for market growth,” said Mr. Karan Chechi, Research Director with TechSci Research, a research-based global management consulting firm.

“Protein Characterization and Identification Market - Global Industry Size, Share, Trends, Opportunity, and Forecast, 2018-2028F” Segmented By Product & Services (Consumables, Instruments, Services), By Application (Drug Discovery & Development, Clinical Diagnosis, Others), By End-Use (Pharmaceuticals & Biotechnology Companies, Academic Research Institutes, Contract Research Organizations, Others), By Region and By Competition”, has evaluated the future growth potential of global Protein Characterization and Identification market and provides statistics & information on market size, structure, and future market growth. The report intends to provide cutting-edge market intelligence and help decision-makers take sound investment decisions. Besides, the report also identifies and analyzes the  emerging trends along with essential drivers, challenges, and opportunities in the Global Protein Characterization and Identification market.