Product launches and acquisitions are the key growth strategies adopted by players in the global Protein Sequencing Market
The global protein sequencing market is projected to reach USD 1,088 million by 2023 from USD 925 million in 2018, at a CAGR of 3.3%. Factors such as increasing financial support from government and private bodies for proteomic research, advancements in clinical mass spectrometry and analytical techniques, and significant adoption of target-based drug development by pharmaceutical and biotechnology companies are expected to propel the growth of the market.
Some of the prominent players in the protein sequencing market are Shimadzu (Japan), Thermo Fisher Scientific Inc. (US), SGS S.A. (Switzerland), Waters Corporation (US), Rapid Novor (Canada), Agilent Technologies (US), Charles River Laboratories (US), and Selvita (Poland).
Analysis of the developments in the protein sequencing market from 2015 to 2018 shows that product launches and acquisitions are the most widely adopted growth strategies by players in the market. Players adopted these strategies to strengthen their market positions.
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Thermo Fisher Scientific has a strong global presence with more than 48% of its revenue generated from the US and around 9% from China. It led the market with its flagship mass spectrometry platforms Q Exactive UHMR Hybrid Quadrupole - Orbitrap (launched in June 2018), Thermo Scientific TSQ 9000 Triple Quadrupole GC-MS/MS system (launched in April 2018), and Orbitrap Fusion Lumos Tribrid Mass Spectrometer (launched in June 2017). The company also provides reagents and consumables for protein sequencing. The company’s growth in consumables sales also contributed to its position in the protein sequencing market. The company focuses on strengthening its product portfolio by launching new products in the market. From 2015 to 2018 (October), the company launched more than 8 mass spectrometry products for protein sequencing.
SGS S.A. is a leading provider of protein sequencing services. The company adopts acquisitions as a key inorganic growth strategy to expand its geographic coverage and enhance its services capabilities. The company utilizes technologies and resources of its subsidiary companies to provide advanced services, including protein sequencing solutions, to its customers across the globe. This strategy helps the company to enhance its innovative protein sequencing service offering capabilities. The company acquired TraitGenetics GmbH (Germany), Vanguard Sciences Inc. (US), and Laboratoire de Contrôle et d’Analyse (Belgium) in 2018.
Related Reports:
Protein Sequencing Market by Product (Sample Preparation, MS, Sequencer, Reagent, Consumable), Service, Technology (MS, Edman), Application (Biotherapeutics, Genetic Engineering), Enduser (Academia, Pharma, Biotechnology, CROs) - Global Forecast to 2023
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