The global protein sequencing market is anticipated to grow at a CAGR of 6.47% over the forecast period of 2020-2028. The factors boosting the growth of the global market are growing focus on target-based drug development, advances in computational proteomics, and developments in mass spectrometry and analytical techniques.
The process of protein sequencing provides information regarding the amino acids that make up a protein. An increasing number of innovations based on proteomics have propelled innovative drug development over the last few years. Moreover, several drugs have been developed with an emphasis on a single protein target. A target is usually a single gene, gene product, or molecular mechanism toward disease prognosis. Furthermore, protein sequencing has been adopted previously by big pharma and biotech companies. However, the latest technologies are becoming accessible and are developed even in academic research and small biotech.
The factors restraining the growth of the market are a shortage of trained researchers and laboratory professionals, and excessive costs imposed on mass spectrometry equipment. Samples to be processed for protein production are often precious and limited, and thus require detailed proteome coverage. The purchase and the required support for the instruments are costly. The need for skilled professionals and the lack of automated processes also hinder the growth of the market. The market is consolidated due to the presence of a limited number of leading players.
The global protein sequencing market is geographically studied on the basis of markets present across the region of North America, Europe, Asia Pacific, and the Rest of the World. As of 2019, the region of North America captured the largest market share in terms of revenue and continues the trend by the end of the forecast period. This is attributed to technological advancements in sequencing platforms, and increasing applications of protein sequencing in this region.
Shimadzu Corporation, Proteome Factory Agilent Technologies Inc, SGS SA, Water Corporation, Bruker Corp etc. are some of the major players establishing their presence in the global market.
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