Protein Sequencing Market Size 2021 to Reach $9.92 Billion Globally at 7.8% CAGR by 2026
Pune, Maharashtra, India, February 16 2021 (Wiredrelease) Allied Analytics –:Increase in focus on target-based drug development and advancements in analytical techniques & mass spectrometry drive the global protein sequencing market. However, scarcity of skilled labor and laboratory professionals hinders the market growth. On the other hand, untapped potential in computational proteomics create new opportunities in the market.
“Protein Sequencing Market by Product and Service (Reagents & Consumables, Instruments, Analysis Products, Protein Sequencing Services, and Others), Technology (Mass Spectrometry, and Edman Degradation), and Application (Academia Research, Biopharmaceuticals and Biotechnology Research): Global Opportunity Analysis and Industry Forecast, 2019–2026.”
According to the report, the global protein sequencing industry garnered $5.39 billion in 2018, and is estimated to generate $9.92 billion by 2026, growing at a CAGR of 7.8% from 2019 to 2026.
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The operations have been continued according to the guidance provided by the World Health Organization and the US and European Centers to Protein Sequencing manufacturing companies.However, the supply chain of various products has been hampered due to the global lockdown.
Based on product & services, the reagents & consumables segment accounted for the highest market share in the global protein sequencing market, contributing to nearly three-fifths of the total market share in 2018, and is estimated to contribute the highest share in terms of revenue during the forecast period. This is due to increase in usage of different types of kits, reagents, and others to carry out protein sequencing. However, the protein sequencing services segment is expected to register the highest CAGR of 8.3% from 2019 to 2026. This is attributed to surge in usage for research and development activities.
Based on technology, the Edman degradation segment accounted for nearly three-fifths of the total market share of the global protein sequencing market in 2018, and is estimated to maintain its lead position during the forecast period. This is due to surge in usage of the technique to decode peptide sequences. However, the mass spectrometry segment is expected to maintain the highest CAGR of 8.5% from 2019 to 2026, owing to its ability to offer rapid, accurate sequencing in lesser time.
Based on region, North America held the largest market share based on revenue, accounting for nearly one-third of the global protein sequencing market in 2018, and is expected to dominate throughout the forecast period. This is due to technological advancements in sequencing platforms and rise in implementation of protein sequencing in this region. However, Asia-Pacific is expected to contribute the highest CAGR of 9.2% from 2019 to 2026, owing to rise in awareness and surge in demand for protein sequencing.
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Leading market players analyzed in the research include 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
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