Protein Characterization and Identification Market Worth $ 23.9 Billion By 2026
CHICAGO, September 8, 2021 / PRNewswire / – According to New Market Research Report “Protein Characterization and Identification Market by instruments (chromatography, electrophoresis, mass spectrometry), consumables and services, application (clinical diagnostics, drug discovery), end user (pharma, biotechnology, CRO) – Global forecasts until 2026 “, published by MarketsandMarkets ™, the protein characterization and identification market is expected to reach $ 23.9 billion by 2026 from $ 12.6 billion in 2021, at a CAGR of 13.7% over the forecast period.
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The growth of the protein identification market can mainly be attributed to such factors as the growing acceptance of personalized medicine, increased R&D spending for drug discovery and development, technological advancements and growth. of proteomics research.
Consumables segment accounted for largest share of protein characterization and identification market
Based on products and services, the market is segmented into consumables, instruments, and services. Consumables segment is further divided into Immunoassay Consumables, Mass Spectrometry Consumables, Chromatography Consumables, Electrophoresis Consumables, and other consumables. The instrument segment is further divided into Mass Spectrometry Instrument, Chromatography Instrument, Electrophoresis Instrument, Tagless Detection Instrument, Spectroscopy Instrument and other instruments. The services segment is further divided based on applications such as drug discovery and development, clinical diagnostics and other applications. The consumables segment dominated the market in 2020. The significant share of this segment can be attributed to the increase in the use of tests and reagents for chronic disease and COVID-19.
Drug discovery and development segment accounted for the largest share of the protein identification market
On the basis of applications, the global protein characterization market is broadly classified into drug discovery and development, clinical diagnostics, and other applications. The drug discovery and development segment is the largest segment of the market, the growth of which is attributed to the increasing number of clinical trials for the development of advanced therapies.
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Pharmaceutical and Biotech segment accounted for largest share of protein characterization and identification market
Based on the end user, the global protein identification market is segmented into pharmaceutical and biotechnology companies, academic research institutes, contract research organizations (CROs), and other end users. In 2020, the pharmaceutical and biotech companies segment dominated the market due to increased R&D spending by pharmaceutical and biotech companies and increased drug discovery activity.
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 (AEM). 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 the growing number of agreements and collaborations between large companies and the increase in R&D investments in proteomics research.
The major players operating in the protein characterization and identification market are Thermo Fisher Scientific (USA), Merck KGaA (Germany), Danaher Corporation (United States), Agilent Technologies (United States) and Waters Corporation (United States).
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