According to the research report titled ‘Global Protein Sequencing Market 2019-2028’, available with Market Study Report, global protein sequencing market is anticipated to record a CAGR of 6.78% throughout 2019-2028.
 

Increasing focus on development of target-based drugs and technological advancements in mass spectrometry & analytical techniques are the major factors driving the global protein sequencing market growth. Moreover, rapid developments in computational proteomics are also generating lucrative prospects for the market majors.
 

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Speaking of the negatives, factors such as lack of workforce due to the complexity of the process and the absence of an automated process are likely to restrain the market progression over the estimated timeline. In addition, high operational costs and huge prices of infrastructure & equipment like mass spectrometers are posing a major challenge for the market growth.
 

Based on product & services, worldwide protein sequencing industry is segmented into instruments, reagents and consumables, analysis product, and protein sequencing services. Considering the technology ambit, the marketplace is categorized into mass spectrometry, and edman degradation. Speaking of application range, the business space is divided into biopharmaceuticals, academia, and biotechnology research.
 

The geographical analysis of worldwide protein sequencing industry extends to Latin America, Middle East & Africa, Asia Pacific, Europe, and North America. Expert analysts speculate that Asia Pacific market is likely to showcase strong growth over the analysis period, owing to developing biotechnology sector in countries like Japan and China and favorable government initiatives.
 

For instance, the government in South Korea targets to triple the export rate and overall market share of pharmaceutical products by 2030. For this, the country is planning to augment its investments in R&D activities around USD 3.4 billion by 2025, with anticipation to develop next-generation technologies such as targeted therapy.
 

Prominent players in the industry sphere are Takara Bio Inc., Bruker Corporation, SGS S.A., Rapid Novor Inc., Selvita S.A., Charles River Laboratories International Inc., Bioinformatics Solutions Inc., Water Corporation, Proteome Factory AG, Thermo Fisher Scientific Inc., Agilent Technologies Inc., and Shimadzu Corporation.