Protein Characterization and Identification Market worth $23.9 billion by 2026 - Exclusive Report by MarketsandMarkets™
CHICAGO, Sept. 8, 2021 /PRNewswire/ -- According to the new market research report "Protein Characterization and Identification Market by Instruments (Chromatography, Electrophoresis, Mass Spectrometry), Consumables & Services, Application (Clinical Diagnosis, Drug Discovery), End User (Pharma, Biotech, CROs) - Global Forecast to 2026", published by MarketsandMarkets™, the Protein Characterization and Identification Market is projected to reach USD 23.9 billion by 2026 from USD 12.6 billion in 2021, at a CAGR of 13.7% during the forecast period.
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The Growth in the protein identification market can mainly be attributed to factors such as growing acceptance of personalized medicine, increased expenditure in R&D for drug discovery and development, technological advancements, and growth in proteomics research.
The consumables segment accounted for the largest share of protein characterization and identification market
Based on product & service, the market is segmented into consumables, instruments, and services. The consumables segment is further divided into immunoassay consumables, mass spectrometry consumables, chromatography consumables, electrophoresis consumables, and other consumables. The instruments segment is further divided mass spectrometry instrument, chromatography instrument, electrophoresis instrument, label-free detection instrument, spectroscopy instrument, and other instruments. The services segment is further divided based on the applications such as drug discovery & development, clinical diagnosis, and other applications. The consumables segment dominated the market in 2020. The large share of this segment can be attributed to increase in use of assays and reagents for chronic disease and COVID-19.
Drug discovery & development segment accounted for the largest share of the protein identification market
Based on application, the global protein characterization market is broadly categorized into drug discovery & development, clinical diagnosis, and other applications. The drug discovery & development segment is the largest segment in the market, whose growth is attributed to increasing number of clinical trials for developing advanced therapeutics.
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Pharmaceutical & biotechnological companies segment accounted for the largest share of protein characterization and identification market
Based on end user, the global protein identification market is segmented into pharmaceutical & biotechnology companies, academic research institutes, contract research organization (CROs) and other end users. In 2020, the pharmaceutical & biotechnology companies segment dominated the market owing to the increasing R&D expenditure of pharmaceutical and biotechnology companies and rising drug discovery activities.
North America accounted for the largest share of the protein characterization and identification market
The protein characterization market is segmented into North America, Europe, the Asia Pacific (APAC), Latin America (LATAM), and the Middle East and Africa (MEA). In 2020, North America accounted for the largest share of the protein characterization and identification consumables market, followed by Europe. The large share of the North American regional segment can be attributed to growing number of agreements & collaborations among large companies, and increasing R&D investments in proteomics research.
The prominent players operating in the protein characterization and identification market are Thermo Fisher Scientific (US), Merck KGaA (Germany), Danaher Corporation (US), Agilent Technologies (US), and Waters Corporation (US).
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