According to the recent research report titled ‘GLOBAL Protein Sequencing Market 2019-2028’, available with Market Study Report, global protein sequencing market size is expected to expand at 6.78% CAGR over 2019-2028.
 

Advancements in mass spectrometry and analytical techniques, along with growing focus on target-based drug development are the key factors driving global protein sequencing market growth. Moreover, developments in computational proteomics is contributing to the overall market outlook.
 

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Considering the restraints, lack of efficient researchers and laboratory professionals is anticipated to hinder worldwide protein sequencing industry expansion. Further, hefty cost of mass spectrometry equipment is also negatively impacting the business scenario.
 

Elaborating on product & services terrain, the market is split into protein sequencing services, instruments, analysis product, and reagents & consumables. On the basis of technology type, the market is bifurcated into Edman degradation, and mass spectrometry.
 

Moving on to application spectrum, global protein sequencing industry is segmented into biotechnology research, biopharmaceuticals, and academia.
 

From regional perspective, Asia Pacific protein sequencing industry is expected to accrue huge profits over the ensuing years, owing to developing biotechnology vertical in economies such as Japan and China, coupled with supportive government initiatives.
 

The report states that South Korean government intends to triple export rate and overall market share of pharmaceutical products by 2030. To accomplish this, research & development spending is expected to increase to about USD 3.4 billion by 2025. This program is expected to aid in the development of next-generation technologies such as target therapy, benefitting protein sequencing sector.
 

Major contenders influencing global protein sequencing market dynamics are Takara Bio Inc., Bruker Corporation, SGS SA, Rapid Novor Inc., Selvita S.A., Charles River Laboratories Inc., Bioinformatics Solutions Inc., Water Corporation, Proteome Factory AG, Thermo Fisher Scientific Inc., Agilent Technologies Inc., and Shimadzu Corporation.
 

Of these, Charles River Laboratories Inc., a US-based company, offers preclinical and clinical laboratory services to firms in various verticals, including medical devices, pharmaceuticals, agrochemicals, and biotechnology. It offers a variety of biomedical products as well as research & development consulting services.