Triton Market Research predicts that the global market for protein sequencing would witness a CAGR of 6.78% over the forecast period 2019-2028. The market that was assessed to be worth $4.97 billion in the year 2019, is predicted to generate a revenue of approximately $8.97 billion by the year 2028.
The protein sequencing market is showcasing a steady growth owing to the demand for target-based drug development. Protein sequencing delivers data about the amino acids that create a protein. During the process, amino acids present are consecutively detached from the end of the protein element and acknowledged in the order they occur in the protein.
Triton Market Research’s report on the protein sequencing market provides an in-depth insight of the market. The detailed analysis of the market includes key market insights, Porter’s five force analysis and market attractiveness index.
Factors such as advancements in mass spectrometry and focus on target-based drug development are driving the growth of the market. The rise in the number of advancements in proteomics has surged demand for the development of drugs. Further, several drugs have been developed with an emphasis on a single protein target.
Also, new methods in mass spectrometry (MS) are one of the chief analytical methods that ionize chemical elements and sort them out based on their mass-to-charge ratio of the ions, which is also fueling the market demand.
However, the purchase and the required support for the instruments are costly. Moreover, the overall workflow needs to be run by skilled professionals due to the complexity of the instrument operation and the lack of automated processes, presenting another expensive aspect of the workflow is restraining market growth.