DUBLIN, September 21, 2021--(BUSINESS WIRE)--The "Global Protein Characterization and Identification Market by Instruments (Chromatography, Electrophoresis, Mass Spectrometry), Consumables & Services, Application (Clinical Diagnosis, Drug Discovery), End User (Pharma, Biotech, CROs) - Forecast to 2026" report has been added to ResearchAndMarkets.com's offering.
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, owing to increasing acceptance of personalized medicine, higher expenditure in R&D for drug discovery and development, technological advancements, and growth in proteomics research.
By product & service, the consumables segment accounted for the largest share of the protein characterization and identification market
The protein characterization and identification market by product & service is categorized 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 into 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 the rising availability of a wide range of reagents and the need for reliable, specific, and rapid detection of diseases at the early stages.
Asia Pacific: The fastest-growing region in the protein characterization and identification market
The Asia Pacific market is projected to grow at the highest CAGR during the forecast period, mainly due to the rising prevalence of chronic diseases, geographical expansion by prominent market players, and increasing demand for high-quality analytical tools for protein analysis.
North America: The largest share of the protein characterization and identification market
North America accounted for the largest share of the protein characterization and identification market. Availability of funds for innovative technologies from government organizations, growing number of agreements and collaborations among large companies, and increasing R&D investments in proteomics research are the major factors driving the market growth in the region.
Growing acceptance of personalized medicines
Increased R&D expenditure for drug discovery and development
Growth in proteomics research
High cost of instruments
Growing prominence of nanoproteomics
Dearth of skilled professionals
Proteome Factory Ag
Thermo Fisher Scientific
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