According the research report titled ‘GLOBAL Protein Sequencing Market 2019-2028’, available with Market Study Report, global protein sequencing market is set to record an appreciable CAGR of 6.78% throughout 2019-2029.
 

Rising focus on target-based drug development and innovations in mass spectrometry & analytical techniques are spurring global protein sequencing market growth. Further, advancements in the field of computational proteomics are anticipated to present new opportunities for business expansion in the upcoming years, claims the study.
 

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On the contrary, lack of skilled workforce due to complexities associated with the procedure and absence of automated processes are hindering the market development. Moreover, high cost of infrastructure and equipment is proving to be a major challenge for companies operating in this business sphere.
 

Based on product & services, global protein sequencing industry is split into reagents and consumables, product, analysis product, instruments (mass spectrometry, Edman degradation), and protein sequencing services. In terms of technology, the market is bifurcated into mass spectrometry and Edman degradation. Moving on, the application segmentation comprises biopharmaceuticals, academia, and biotechnology research.
 

From a geographical perspective, Europe, Asia Pacific, North America, Latin America, and Middle East & Africa are the key contributors to the overall protein sequencing market remuneration. Expert analysts cite that Asia-Pacific is touted to display immense growth over the forecast period, creditable to developing biotechnology sector in Asian countries like Japan and China.
 

Moreover, favorable government initiatives is adding to the regional market development. For instance, the South Korean government aims to triple the export rate and the global market share of pharmaceutical products by 2030. It plans to do so through investments worth USD 3.4 billion in R&D by 2025. This initiative will promote development of next-gen technologies like target therapy, subsequently pushing the demand for protein sequencing.
 

Prominent players in global protein sequencing market sphere are Takara Bio Inc., Bruker Corp., SGS S.A., Rapid Novor Inc., Selvita S.A., Charles River Laboratories Intl. Inc., Bioinformatics Solutions Inc., Water Corp., Proteome Factory AG, Thermo Fisher Scientific Inc., Agilent Technologies Inc., and Shimadzu Corp.