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North America Protein Sequencing Market Forecast 2020-2028

The protein sequencing market of North America is evaluated to grow at a CAGR of 5.66% during the estimated period of 2020-2028. The rise in the availability, and accessibility of protein sequencing, and well-established healthcare infrastructure is one of the essential factors driving market growth in the region.

The North American protein sequencing market is segregated into the countries of the US and Canada for further analysis. The Canadian biotechnology industry is expected to grow considerably in the next five years. Government programs play a significant role in obtaining commercial success and product development. The SR&ED was the most accessed program, with 72% of the respondents benefitting from it. The second position was acquired by IRAP, with 58% of respondents, followed by provincially funded programs with 33%. The Canadian biotechnology industry is heavily concentrated in three provinces, Quebec, Ontario, and British Columbia, which account for 75% of all the biotech companies in the country. Quebec has 146 companies, Ontario 129, and British Columbia 91. As far as research and development are concerned, Quebec is the leading province with 33% of Canadian R&D expenditure, followed by Ontario at 31%, and finally, British Columbia with 25%. These three leading jurisdictions have prospered around four cities, Montreal, Ottawa, Toronto, and Vancouver, that could be considered as serious competitors to the status of clusters. Biologics carry on to dominate market share and is an extraordinary driver of market growth. Patent expiry triggering colossal revenue losses for brand products and expansion of the generic sector is in disparity with innovation in biologics.

Agilent Technologies Inc, Charles River Laboratories Inc, Thermo Fisher Scientific Inc, Bruker Corporation, Bioinformatics Solutions Inc, etc. are some of the renowned companies operating in the region.

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North America Protein Sequencing Market Forecast 2020-2028
Published By :Inkwood Research
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