Protein Characterization and Identification Global Market Report 2024

The protein characterization and identification market size has grown rapidly in recent years. It will grow from $16.89 billion in 2023 to $19.41 billion in 2024 at a compound annual growth rate (CAGR) of 14.9%. The growth observed in the historical period can be attributed to factors such as the expansion of proteomics research, a heightened focus on understanding disease mechanisms, the integration of bioinformatics, advancements in protein structure determination, and the transition from genomics to proteomics in scientific research.

The protein characterization and identification market size is expected to see rapid growth in the next few years. It will grow to $34.41 billion in 2028 at a compound annual growth rate (CAGR) of 15.4%. The anticipated growth in the forecast period can be attributed to the demand for bioinformatics solutions, the rise in biopharmaceuticals, the growth of precision medicine, increased funding for research, and the expansion of biomedical research. Major trends expected in the forecast period include advancements in mass spectrometry, the application of proteomics in drug development, progress in chromatography techniques, the adoption of automation and high-throughput methods, and the continued integration of bioinformatics in protein characterization and identification processes.

The growth of the protein characterization and identification market is being fueled by the increasing activities in drug development. Drug development involves the introduction of new therapeutic molecules into clinical use, and accurate protein characterization and identification are crucial during this process. Precise measurement of protein quantities is fundamental for determining drug product doses and quantifying critical quality attributes. A 2021 report by the IQVIA Institute for Human Data Science highlighted the global launch of 66 new active substances (NAS) in 2020, with 40% being developed by emerging biopharma companies. This underscores how the rise in drug development activities is driving the protein characterization and identification market.

Anticipated growth in healthcare expenditure is poised to drive the protein characterization and identification market. Healthcare expenditure involves the consumption of resources to promote, restore, and maintain health. The increased allocation of funds in healthcare supports research techniques and expands the protein characterization and identification sector. A report by the UK's Office for National Statistics indicated a 9.4% nominal and 9.7% real increase in healthcare spending in the UK between 2020 and 2021. The surge in spending on preventive care, reaching $45.72 billion in 2021, further contributes to driving the growth of the protein characterization and identification market.

A key trend in the protein characterization and identification market is product innovation, with major players introducing novel solutions. For example, in January 2023, SCIEX launched the Fast Glycan Labeling and Analysis kit and a software upgrade for the Biologics Explorer program. These innovations provide fast and accurate characterization of biotherapeutics, contributing to the ongoing trend of product innovation in the protein characterization and identification market.

Major companies in the protein characterization and identification market are concentrating on introducing innovative tools, such as mass spectrometers, to maintain a competitive edge. Mass spectrometers, analytical instruments measuring the mass-to-charge ratio of ions, find applications in various fields, including protein identification. In June 2023, Bruker Corporation launched the timsTOF Ultra Mass Spectrometer, incorporating transformative sensitivity and advanced features for protein characterization and identification. This reflects the industry's focus on developing cutting-edge tools to meet evolving needs.

In June 2021, Danaher Corporation acquired Aldevron for an undisclosed amount, reinforcing its commitment to providing life-saving treatments and vaccines. Aldevron, a biotechnology company, specializes in high-quality plasmid DNA, proteins, and enzymes, aligning with Danaher's goals in the dynamic life sciences sector.

Major companies operating in the protein characterization and identification market report are Agilent Technologies Inc., Bio-Rad Laboratories Inc., Bruker Corporation, Danaher Corporation, General Electric Company, The Merck Group, PerkinElmer Inc., Shimadzu Corporation, Thermo Fisher Scientific Inc., Waters Corporation, Promega Corporation, Sartorius AG, Analytik Jena AG, Sigma-Aldrich Corp., Creative Proteomics, Cleaver Scientific, Genedata AG, Proteome Sciences plc, Selvita S.A., Eurofins Scientific SE, Charles River Laboratories International Inc., WuXi AppTec, Eurogentec S.A., Protea Biosciences Group Inc., Bioinformatics Solutions Inc., Biognosys AG, Bioproximity LLC, Biotech Support Group LLC, Biodesix Inc., SGS SA.

North America was the largest region in the protein characterization and identification market in 2023. The regions covered in the protein characterization and identification market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the protein characterization and identification market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The main types of protein characterization and identification components include consumables, instruments, and services. Consumables in protein characterization and identification are used for identifying and measuring protein substances, as well as detecting the presence or concentration of a protein in a solution through antibody-antigen reactions. These applications find use in drug discovery and development, as well as clinical diagnosis. End-users of protein characterization and identification products include pharmaceutical and biotechnology companies, academic research institutions, contract research organizations, and other related entities.

The protein characterization and identification market research report is one of a series of new reports that provides protein characterization and identification market statistics, including protein characterization and identification industry global market size, regional shares, competitors with a protein characterization and identification market share, detailed protein characterization and identification market segments, market trends and opportunities, and any further data you may need to thrive in the protein characterization and identification industry. This protein characterization and identification market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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