LONDON, May 24, 2023 (GLOBE NEWSWIRE) -- The Business Research Company’s research on the protein characterization and identification market forecasts the market to grow from $14.6 billion in 2022 to $16.7 billion in 2023, at a compound annual growth rate (CAGR) of more than 14%. Further, it is anticipated that the market will reach $28.5 billion by 2027, with a CAGR of more than 14%. In 2022, North America held the largest protein characterization and identification market share.
One of the key drivers behind this growth is the increasing number of drug development activities. Drug development involves the introduction of new therapeutic molecules for clinical use. Protein characterization and identification play a crucial role in this process, as accurate measurement of protein quantities is essential for the development of biopharmaceutical drugs and other research projects. Precise determination of protein content is crucial in determining the dosage of the drug product and quantifying other critical quality attributes.
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Major protein characterization and identification market companies include Agilent Technologies Inc., Bio-Rad Laboratories Inc., Bruker Corporation, Danaher Corporation, General Electric Company and Merck KGAA. In terms of market trends, product innovation is a significant focus for these major players.
For example, SCIEX, a US-based life science analytical technologies company, launched the Fast Glycan Labeling and Analysis kit and a software upgrade for the Biologics Explorer program. These innovations enhance the characterization of biotherapeutics by providing high sequence coverage, improved understanding of crucial alteration sites, and reliable, consistent results in the characterization and identification of glycan heterogeneity.
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The global protein characterization and identification industry is segmented as-
1) By Product Type: Consumables, Instruments, Services
2) By Application: Drug Discovery And Development, Clinical Diagnosis
3) By End User: Pharmaceutical And Biotechnology Companies, Academic Research Institutions, Contract Research Organizations, and Other End Users
The protein characterization and identification market report provide a comprehensive analysis of the market, offering insights into its growth prospects across various geographical regions. The report emphasizes the driving factors behind the market's expansion, with a particular focus on the increasing drug development activities worldwide. The report further highlights other driver s and factors that will drive the market’s growth in the coming years.
Protein Characterization And Identification Global Market Report 2023 by The Business Research Company provides insights on the protein characterization and identification market size, protein characterization and identification market segments, protein characterization and identification market trends, drivers and restraints, major competitors’ market positioning, revenues and market shares.
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