(PRWEB) March 07, 2015
Protein identification is increasingly being used in all fields of biopharmaceutical production, life science research including drug discovery, diagnostics, immunology and oncology.
The global protein characterization market was valued at $ 1,569.00 million in 2014 and is expected to grow at a CAGR of 10.63% to reach $ 2,600.28 million in 2019.
Protein characterization and identification is the characterization of protein based on protein size, shape, sequence and physiochemical properties such as molecular weight, relative hydrophobicity, isoelectric point and spectral analysis. The growth of the protein characterization and identification market will be driven by increased government funding for protein characterization and identification research growing proteomics and biologics markets, technological advancements and increased research activities related to drug discovery.
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The drug discovery and development application segment will be an important revenue pocket of the protein characterization and identification market in the forecast period. The drug discovery and development applications segment is expected to grow at the highest CAGR. Protein characterization and identification find application in research in the investigation of defective proteins in development of new drug and quality control throughout the development pipeline of protein therapeutics. Furthermore protein characterization and identification products are used to identify new biomarkers for cancers. These biomarkers act as key diagnostic targets for various types of cancers. Biomarkers can also be used for devising novel and personalized therapies for diseases like cancer.
North America accounted for the largest share of the global protein characterization and identification market in 2013. However the Asian market is expected to grow at the highest rate during the forecast period and represents new revenue pockets for the protein characterization and identification market. Growth in the Asia regional segment is likely to be centered on China and India. The growth in the Chinese and Indian economies and increasing drug discovery initiatives will be a major driver for growth in the Asian protein characterization and identification market. The Asian segment is also expected to witness a steady year-on-year growth, due to the increase in private equity and venture capital investments in the field of biotechnology in Asia-Pacific region.
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