The major factors for the growth of the protein sequencing market include the rising focus on target-based drug development, and increasing funding for proteomics research.
The rising funding for proteomic research is expected to boost the protein sequencing market over the forecast period. In the United States, the Office of Cancer Clinical Proteomics Research (OCCPR) supports the development of technologies and reagents that will advance understanding of protein biology in cancer. Furthermore, recently on January 2018, more than USD 18 million in funding awarded to two national platforms in which the University of Victoria plays a key role to improve the diagnosis and treatment of various diseases such as cancer and Alzheimer’s. In addition, one of the market player Biognosys, in July 2017 announced that it has secured USD 5 million funding from new and existing investors in an extended series C round. Thus, rising funding for the proteomic research is expected to propel the overall growth of the Protein Sequencing market over the forecast period.
Key Market Trends
Protein Engineering Studies is the Segment by Application expected to be Fastest Growing Segment
Protein engineering is the manipulation of the structures of proteins to produce the desired properties or the synthesis of proteins with particular structures. The majority of therapeutic drugs in the current market are bioformulations, such as antibodies, nucleic acid products, and vaccines. The companies are focusing on field in protein engineering for the site-specific conjugation of functional moieties to biopharmaceuticals is the incorporation of unnatural amino acids (uAA). The rapid developments in post-translational engineering and strain development to produce better-defined products, faster approval of biopharmaceuticals can be expected. Furthermore, according to the data published by the Genetics & Protein Engineering Conferences 2018, roughly 3,000 professionals from 60 over universities in the country, currently work on protein engineering. Thus, owing to the rising focus on protein engineering the market is expected to witness high growth.
North America is Expected to Hold Largest Market Share over the Forecast Period
The North America is expected to be the largest protein sequencing market owing to the rising technological advancements and the presence of better healthcare infrastructure. In the United States, the pharmaceutical industry has one of the most research-intensive organizations. And this pharmaceutical industry is deeply invested in applying innovative solutions to enhance the pipeline development to support improvements in patient care. Furthermore, there is a rising focus on target-based drug development and protein sequencing studies helping in the target-based drug development. Also, government and non-government organizations are providing funds to carry out research in the field of proteomics. Thus, owing to all above-mentioned factors the market is expected to witness high growth over the forecast period.
The market studied is a fragmented market owing to the presence of various market players. Some of the market players are Agilent Technologies, Inc., Bioinformatics Solutions, Charles River Laboratories, Proteome Factory, Rapid Novor Inc., Selvita SA, SGS SA, Shimadzu Corporation, Thermo Fisher Scientific Inc., and Waters
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