Protein Characterization & Identification Market: Current Analysis and Forecast (2021-2027)

Report Description

Global Protein Characterization & Identification Market is anticipated to grow with an elevated CAGR of around 12% over the forecast period (2021-2027). Protein characterization and identification is the method for analyzing the contents of protein on the basis of their molecular weight and charge. It is the basic research process which is commonly used in various clinical diagnosis procedures, environmental research and drug discovery and development.

With rapid technological advancement and rising investment in research & development of pharmaceutical & biotechnology companies, the protein characterization and identification market is witnessing an uptick all over the globe. For instance, the Pharmaceutical Research and Manufacturers of America (PhRMA) trade group represents the leading biopharmaceutical research companies in the United States. In 2019, the research and development (R&D) expenditure of its member companies reached USD 83 billion worldwide, up from USD 79.6 billion in 2018. Furthermore, the growing focus on the launch of new drugs owing to the support by the government for research and investments is propelling the growth of this market.

Furthermore, the rapid advancement in technology, rising demand for personalized medicine and government funding for proteomics leading to an increase in the strategic alliances in this field to address the challenges faced by many industry players for finding all the necessary expertise to cover all activities involved in proteomics are some of the prominent factors that are significantly impacting the growth of protein characterization and identification market. For example, in 2020, Bruker Corporation and Utrecht University came into a collaboration for developing new methods for studying protein structures & interactions using mass spectrophotometry.

Number of Drugs In the R&D Pipeline Worldwide 2020 Vs. 2021, By Development Phase

Merck KGaA, Thermo Fisher Scientific, Inc., Danaher Corporation, Sartorius AG, Agilent Technologies, Waters Corporation, QIAGEN N.V., Bio-Rad Laboratories, Inc., PerkinElmer, Inc., Promega Corporation, are some of the prominent players operating in the protein characterization and identification market. Several M&As along with partnerships have been undertaken by these players to facilitate customers with new products for protein characterization and identification.

Insights Presented in the Report

“Amongst Product & Services, Consumables segment holds the major share”

Based on product & services, the protein characterization and identification market is segmented into consumables, instruments, and services. The consumables segment accounted for a significant market share in 2020 and it is estimated that it will exhibit the highest CAGR during the forecast period. The growth of this segment is attributed to the increase in research for the discovery of novel drugs and thus, the requirement of the repeat purchase of a wide range of reagents and other consumables. Also, the need for reliable and rapid detection of diseases at the early stages are also some of the factors contributing to the growth of this segment.

“Amongst Application, Drug Discovery & Development segment holds the major share”

Based on application, the protein characterization and identification market is divided into drug discovery & development, clinical diagnosis, and other applications. The drug discovery & development segment occupied the major share of the protein characterization and identification market in 2020 and it is expected to grow with substantial CAGR in the upcoming years. The growth of this segment is attributed to the rise in R&D expenditure and increase in the number of clinical trials for developing advanced therapeutics.

“Amongst End-User, Pharmaceutical & Biotechnology Companies segment holds the major share”

Based on end-user, the market is fragmented into pharmaceutical & biotechnology companies, academic research institutions, contract research organizations, and others. In 2020, the pharmaceutical & biotechnology companies segment grabbed the considerable market share, and it is expected to grow at the significant CAGR during the forecast period owing to growth in drug discovery activities in these companies ensuring the sustained demand for market technologies.

“North America represents one of the largest markets of protein characterization & identification market”

For a better understanding of the market dynamics of the protein characterization and identification market, a detailed analysis was conducted for different regions across the globe including North America (the U.S, Canada, and the Rest of North America), Europe (Germany, France, Spain, United Kingdom, Italy, and Rest of Europe), Asia-Pacific (China, India, Australia, Japan, and Rest of APAC), Rest of World has been conducted. North America constitutes a major market for the protein characterization and identification market industry and generated revenue of USD XX Million in 2020 owing to the presence of well-established market players in the region.

Reasons to buy this report:

• The study includes market sizing and forecasting analysis validated by authenticated key industry experts
• The report presents a quick review of overall industry performance at one glance
• The report covers an in-depth analysis of prominent industry peers with a primary focus on key business financials, product portfolio, expansion strategies, and recent developments
• Detailed examination of drivers, restraints, key trends, and opportunities prevailing in the industry
• The study comprehensively covers the market across different segments
• Deep dive regional level analysis of the industry

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Research Methodology

Analyzing the historical market, estimation of the current market, and forecasting the future market of the global protein characterization and identification market were the three major steps undertaken to create and analyze the adoption of protein characterization and identification in major regions globally. Exhaustive secondary research was conducted to collect the historical market numbers and estimate the current market size. Secondly, to validate these insights, numerous findings and assumptions were taken into consideration. Moreover, exhaustive primary interviews were also conducted, with industry experts across the value chain of the global protein characterization and identification market. Post assumption and validation of market numbers through primary interviews, we employed a top-down/bottom-up approach to forecasting the complete market size. Thereafter, market breakdown and data triangulation methods were adopted to estimate and analyze the market size of segments and sub-segments the industry pertains to. Detailed methodology is explained below:

Analysis of Historical Market Size

Step 1: In-Depth Study of Secondary Sources:

Detail secondary study was conducted to obtain the historical market size of the protein characterization and identification through company internal sources such as annual report & financial statements, performance presentations, press releases, etc., and external sources including journals, news & articles, government publications, competitor publications, sector reports, third-party database, and other credible publications.

Step 2: Market Segmentation:

After obtaining the historical market size of the protein characterization and identification market, we conducted a detailed secondary analysis to gather historical market insights and share for different segments & sub-segments for major regions. Major segments included in the report as product & services, application, and end-user. Further country-level analyses were conducted to evaluate the overall adoption of protein characterization and identification across the globe.

Step 3: Factor Analysis:

After acquiring the historical market size of different segments and sub-segments, we conducted a detailed factor analysis to estimate the current market size of the protein characterization and identification. Further, we conducted factor analysis using dependent and independent variables such as growing number of pharmaceutical & biotechnology companies and rising acceptance of personalized medicine all over the globe. A thorough analysis was conducted for demand and supply-side scenarios considering top partnerships, merger and acquisition, business expansion, and product launches in the protein characterization and identification sector across the globe.

Current Market Size Estimate & Forecast

Current Market Sizing: Based on actionable insights from the above 3 steps, we arrived at the current market size, key players in the protein characterization and identification market, and market shares of the segments. All the required percentage shares split, and market breakdowns were determined using the above-mentioned secondary approach and were verified through primary interviews.

Estimation & Forecasting: For market estimation and forecast, weights were assigned to different factors including drivers & trends, restraints, and opportunities available for the stakeholders. After analyzing these factors, relevant forecasting techniques i.e., top-down/bottom-up approach was applied to arrive at the market forecast about 2027 for different segments and subsegments across the major markets globally. The research methodology adopted to estimate the market size encompasses:

• The industry’s market size, in terms of value (US$) and the adoption rate of protein characterization and identification across the major markets domestically
• All percentage shares, splits, and breakdowns of market segments and sub-segments
• Key players in the protein characterization and identification market in terms of products offered. Also, the growth strategies adopted by these players to compete in the fast-growing market

Market Size and Share Validation

Primary Research: In-depth interviews were conducted with the Key Opinion Leaders (KOLs) including Top Level Executives (CXO/VPs, Sales Head, Marketing Head, Operational Head, and Regional Head, Country Head, etc.) across major regions. Primary research findings were then summarized, and statistical analysis was performed to prove the stated hypothesis. Inputs from primary research were consolidated with secondary findings, hence turning information into actionable insights.

Split of Primary Participants in Different Regions

Market Engineering

Data triangulation technique was employed to complete the overall market estimation and to arrive at precise statistical numbers of each segment and sub-segment of the protein characterization and identification market. Data was split into several segments & sub-segments post studying various parameters and trends in the areas of product & services, applications and end-user of the protein characterization and identification market.

The main objective of the Protein Characterization And Identification Market Study

The current & future market trends of protein characterization and identification were pinpointed in the study. Investors can gain strategic insights to base their discretion for investments from the qualitative and quantitative analysis performed in the study. Current and future market trends were determined the overall attractiveness of the market at a regional level, providing a platform for the industrial participant to exploit the untapped market to benefit as a first-mover advantage. Other quantitative goals of the studies include:

• Analyze the current and forecast market size of protein characterization and identification in terms of value (US$). Also, analyze the current and forecast market size of different segments and sub-segments
• Segments in the study include areas of of product & services, applications and end-user
• Define and analysis of the regulatory framework for the protein characterization and identification industry
• Analyze the value chain involved with the presence of various intermediaries, along with analyzing customer and competitor behaviors of the industry
• Analyze the current and forecast market size of the protein characterization and identification market for the major region
• Major regions studied in the report include North America, Europe, Asia-Pacific and Rest of the world
• Company profiles of the protein characterization and identification market and the growth strategies adopted by the market players to sustain in the fast-growing market

Deep dive regional level analysis of the industry