The protein characterization and identification market is projected to reach USD 23.9 billion by 2026 from USD 12.6 billion in 2021, at a CAGR of 13.7% during the forecast period. Growth in the protein characterization and identification market is mainly be attributed to factors such as rising acceptance of personalized medicine, increased drug discovery and development activities, and technological advancements in various technologies.
The prominent players operating in the protein characterization and identification market are Thermo Fisher Scientific (US), Merck KGaA (Germany), Danaher Corporation (US), Agilent Technologies (US), and Waters Corporation (US).
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Merck KGaA (Germany) is a major player operating in the market The company operates in over 150 locations across the US, Canada, Europe, Asia, and Latin America. The company has a strong product portfolio to bolster its wide geographic presence and ensure a large market share. It focuses on collaborations and partnerships to expand its presence in the market. For instance, in April 2021, Merck KGaA collaborated with the University of Indonesia to support the development of the country’s life science sector in Indonesia.
Thermo Fisher Scientific (US) is another major player in the market, owing to its extensive portfolio of analytical instruments. Thermo Fisher focuses on expanding its product portfolio by introducing new and advanced instruments for customers in various fields, such as biotechnology, pharmaceuticals, toxicology, and forensics. In 2020, the company launched new triple quadrupole LC-MS systems, Orbitrap 240 and Orbitrap 120 LC-MS systems. Thermo Fisher also engages in collaborations and agreements. For instance, in 2019, it collaborated with NX Prenatal Inc. (US) to develop clinical mass spectrometry-based proteomics assays to monitor fetal health during pregnancy and assess the risk of adverse outcomes.
Protein Characterization and Identification Market by Instruments (Chromatography, Electrophoresis, Mass Spectrometry), Consumables & Services, Application (Clinical Diagnosis, Drug Discovery), End User (Pharma, Biotech, CROs) - Global Forecast to 2026
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