Protein Characterization and Identification Market: By Product (Consumables, Instruments, Software, and Services), Application (Drug Discovery and Development, Disease Diagnosis, Scientific Research, and Others), By End User (Diagnostic Laboratories, Academic and Research institutions, Biotechnology and Pharmaceutical Industries, Contract Research Organizations. and Others) and Geography

Protein Characterization And Identification Market size was valued at USD 12,846.3 Million in 2023 and is poised to grow at a CAGR of 14.4% over 2024-2030. The protein characterization and identification market refers to the industry involved in the study and analysis of proteins to understand their structure, function, interactions, and tasks in various biological processes. The protein characterization and identification market has witnessed significant growth in recent years majorly due to growth in drug discovery and development process. For instance, CDER identified 20 of the 37 novel drugs approved in 2022 (54%) as first-in-class and from 2013 through 2022, CDER has averaged about 43 novel drug approvals per year.

Moreover, fast advancement in technologies such as protein microarrays, spectroscopy, and chromatography has significantly contributed to the market growth. However, the high cost associated with sophisticated protein characterization techniques is creating challenges for the growth of the protein characterization and identification market. Furthermore, developing markets with unexplored potential in developing regions and rising demand for biomarker discovery create potential opportunities. Additionally, protein characterization and identification market players are investing in research and development activities to meet the evolving demands of the customers. For Instance, in March 2021, Thermo Fisher Scientific announced a collaboration with Protein Metrics’ Byos software solution to enhance mass spectrometry data analysis for biopharmaceutical and proteomics applications.

Protein Characterization And Identification Market Key Developments:

• In May 2022, Agilent Technologies Inc. announced a collaboration with APC Ltd., to provide a solution for automated process analysis via liquid chromatography (LC).
• In June 2023, Bruker Corporation announced the launch of the new timsTOF Ultra mass spectrometer which can identify over 55K peptides that map into 5000 protein groups at the single-cell level.