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Home ➤ Life Science ➤ Healthcare ➤ Protein Sequencing Market
Protein Sequencing Market
Protein Sequencing Market
Published date: Aug 2024 • Formats:
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  • Home ➤ Life Science ➤ Healthcare ➤ Protein Sequencing Market

Protein Sequencing Market By Product & Service [Protein Sequencing Products (Reagents & Consumables, Instruments, Mass Spectrometry Instruments, Edman Degradation Sequencers, Software), Protein Sequencing Services], By Application (Bio-therapeutics, Genetic Engineering, and Others), By End-user (Academic Institutes & Research Centers, Pharmaceutical & Biotechnology Companies, and Other End Users), Region and Companies – Industry Segment Outlook, Market Assessment, Competition Scenario, Trends and Forecast 2024-2033

  • Published date: Aug 2024
  • Report ID: 127451
  • Number of Pages: 345
  • Format:
  • Overview
  • Table of Contents
  • Major Market Players
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  • Quick Navigation

    • Report Overview
    • Key Takeaways
    • Product & Service Analysis
    • Application Analysis
    • End-user Analysis
    • Key Market Segments
    • Drivers
    • Restraints
    • Opportunities
    • Impact of Macroeconomic / Geopolitical Factors
    • Latest Trends
    • Regional Analysis
    • Key Players Analysis
    • Recent Developments
    • Report Scope

    Report Overview

    The Protein Sequencing Market size is expected to be worth around USD 4.7 billion by 2033 from USD 3.2 billion in 2023, growing at a CAGR of 3.7% during the forecast period 2024 to 2033.

    Protein Sequencing Market Size

    The global protein sequencing market is poised for substantial growth during the forecast period. Factors driving this expansion include increased investment by biotechnology companies in proteomics research, both in commercial and non-commercial antibody studies. However, despite some well-studied proteins like p53, a significant portion of human proteins remains understudied.

    Biomedical research advancements and growing R&D activities supporting protein expression contribute to the market surge. Protein sequencing facilitates the detection of new biomarkers for cancer diagnosis and enhances our understanding of healthy cell functionality. Academic institutions are taking strategic initiatives to modify protein sequencing techniques, further fueling market momentum.

    For instance, according to the data published by the Chemical & Engineering News in August 2024, a team at Oxford Nanopore Technologies has found that unfolding proteins and reading repeatedly enables the team to even out such signals and easily match proteins to the reference proteome in a commercially existing ONT DNA sequencing device.

    Key Takeaways

    • In 2023, the market for Protein Sequencing generated a revenue of USD 3.2 billion, with a CAGR of 3.7%, and is expected to reach USD 4.7 billion by the year 2033.
    • The product & service segment is divided into protein sequencing products, reagents & consumables, instruments, mass spectrometry instruments, Edman degradation sequencers, software, and protein sequencing services, with protein sequencing products taking the lead in 2023 with a market share of 76%.
    • Considering application, the market is divided into bio-therapeutics, genetic engineering, and others. Among these, bio-therapeutics held a significant share of 54.2%.
    • Furthermore, concerning the end-user segment, the market is segregated into academic institutes & research centers, pharmaceutical & biotechnology companies, and other end users. The academic institutes & research centers sector stands out as the dominant player, holding the largest revenue share of 44.7% in the protein sequencing market.
    • North America led the market by securing a market share of 41.2% in 2023.

    Product & Service Analysis

    The protein sequencing products segment led in 2023, claiming a market share of 76% owing to the increasing demand for precise protein analysis in research and diagnostics. Advances in technology, such as mass spectrometry and Edman degradation drive the innovation in protein sequencing products.

    Furthermore, factors such as the need for accurate protein identification and quantification in biomarker discovery, drug development, and disease diagnosis fuel the growth of this segment. The growing adoption of next-generation sequencing (NGS) and proteomics technologies expands the market for protein sequencing products.

    Application Analysis

    The bio-therapeutics held a significant share of 54.2% due to the increasing development and approval of biological drugs, which require precise protein sequencing for characterization and quality control. Advances in protein sequencing technologies enable detailed analysis of biological drugs, driving the growth of the segment.

    The need for bio-therapeutics in treating complex diseases such as cancer and autoimmune disorders further fuels the demand for protein sequencing in drug development and manufacturing. In addition, the increasing adoption of biosimilars also boosts the growth of this segment.

    Protein Sequencing Market Share

    End-user Analysis

    The academic institutes & research centers segment had a tremendous growth rate, with a revenue share of 44.7% owing to the rise in research activities in proteomics, genomics, and personalized medicine.

    An increase in funding for life science research and growing collaboration between academia and industry also propel the growth of this segment. The need for precise protein analysis in biomarker discovery, drug development, and disease diagnosis also contributes to the growth of this segment.

    Key Market Segments

    By Product & Service

    • Protein Sequencing Products
      • Reagents & Consumables
      • Instruments
      • Mass Spectrometry Instruments
      • Edman Degradation Sequencers
      • Software
    • Protein Sequencing Services

    By Application

    • Bio-therapeutics
    • Genetic Engineering
    • Others

    By End-user

    • Academic Institutes & Research Centers
    • Pharmaceutical & Biotechnology Companies
    • Other End Users

    Drivers

    Growing Emphasis on Target-based Drug Development

    The growing emphasis on target-based drug development drives the market by increasing the need for precise protein analysis to identify and validate drug targets. Protein sequencing enables researchers to understand protein structures, functions, and interactions, crucial for target-based drug development. Advances in protein sequencing technologies facilitate the discovery of novel drug targets and biomarkers, further fueling the market growth. Target-based drug development requires detailed protein characterization, driving demand for protein sequencing products and services.

    Additionally, the need for personalized medicines and tailored therapies further further emphasizes the importance of protein sequencing in the drug development process. According to the data published in Science Daily in June 2024, recent research highlights the potential of a straightforward peptide modification to unlock a new class of drug discovery targets. Scientists from the University of Birmingham, in collaboration with the Universities of Bristol and Leeds, successfully demonstrated how modified peptides could serve as promising reagents for disease diagnostics and drug development.

    Restraints

    High Cost of Infrastructure and Equipment

    The high cost of equipment and infrastructure, particularly mass spectrometers, poses a barrier to the market’s expansion. Additionally, the need for suitable technological expertise and well-equipped laboratories in various regions can hinder growth. While mass spectrometry is a powerful technique for protein sequencing, its specialized and expensive equipment, along with the need for experienced personnel, can be challenging for smaller enterprises and research organizations with limited resources.

    Beyond equipment costs, other expenses related to protein sequencing—such as reagents and consumables—add to the overall financial burden. These costs accumulate, especially during sophisticated experiments or when sequencing multiple proteins.

    Opportunities

    Increasing Research & Development Activities

    The protein sequencing sector is poised for growth due to increased research activities and funding aimed at developing various protein-based products. Government support for innovative sequencing infrastructure in research institutions, coupled with rising R&D expenditures by businesses, contributes to the expansion of the protein sequencing market. Proteomic research benefits from both governmental and private funding.

    For instance, in October 2022, the National Institute of General Medical Sciences granted over USD 1.5 million to a professor at Upstate Medical University. The researcher is merging protein and DNA engineering to create select protein switches with robust biological activities. DNA engineering is used to activate these activities using RNA or DNA sequences of choice, such as those related to coronavirus or cytomegalovirus.

    Impact of Macroeconomic / Geopolitical Factors

    Macroeconomic and geopolitical factors wield a significant sway on the Protein Sequencing market, shaping its growth trajectory and dynamics. Macroeconomic factors such as economic growth and increased healthcare spending positively impact the protein sequencing market by driving investment in research & development. Geopolitical factors such as trade agreements and partnerships facilitate collaborations and technology transfer, thereby benefitting the market. However, economic downturns and trade tensions can negatively impact the market by reducing funding and creating uncertainty.

    Latest Trends

    Increasing Funding for Proteomics Research

    The increasing funding for proteomics research drives the market by providing financial support for the development of new technologies and applications. Government agencies, foundations, and private organizations invest in proteomics research, fueling innovation and adoption of protein sequencing technologies.

    Researchers from multiple countries (including Poland, the Netherlands, the United States, France, Italy, Switzerland, Luxembourg, Israel, Spain, Germany, and Canada) collaborated on a study involving single-molecule protein sequencing technology. Released in June 2021, this technology enables the examination of proteins at the single-cell level, even for proteins with low abundances. The potential applications of whole proteome sequencing hold promise for medical diagnostics.

    Regional Analysis

    North America is leading the Protein Sequencing Market

    North America dominated the market with the highest revenue share of 41.2% owing to several factors, including technological advancements, robust healthcare infrastructure, and increased governmental support through funding for proteomics research. Additionally, major players in North America are expected to drive market growth through their business activities.

    In December 2022, a protein sequencing company, Quantum-Si Inc., disclosed the commercial availability of Platinum, the world’s first next-generation platform for single-molecule protein sequencing. Remarkably, Platinum is priced at just USD 70,000 and boasts a compact benchtop design measuring 19.5 inches by 8.5 inches. This accessibility is expected to accelerate scientific breakthroughs across various disciplines, from drug discovery to biotechnology, ultimately contributing to improved health and longevity.

    The Asia Pacific region is expected to experience the highest CAGR during the forecast period

    Asia Pacific is expected to grow with the fastest CAGR owing to increasing investment in biotechnology and pharmaceutical research. Countries such as China, Japan, South Korea, and Singapore are emerging as hubs for proteomics research, driving market growth. Rising demand for personalized medicine and biomarker discovery in the region also fuels the adoption of protein sequencing technologies.

    In May 2023, SomaLogic, Inc., a global leader in proteomics technology, announced its sponsorship of the Genomax Research Grant Award for researchers in Singapore. Notably, this marks SomaLogic’s first grant initiative in the Asia-Pacific (APAC) region. Award recipients will gain access to proteomic data from SomaLogic’s 7,000-plex assay, which will be conducted at Molecular Genomics, a Genomax Technologies company based in Singapore.

    Protein Sequencing Market Regions

    Key Regions and Countries

    • North America
      • US
      • Canada
    • Europe
      • Germany
      • France
      • The UK
      • Spain
      • Italy
      • Russia
      • Netherland
      • Rest of Europe
    • Asia Pacific
      • China
      • Japan
      • South Korea
      • India
      • Australia
      • New Zealand
      • Singapore
      • Thailand
      • Vietnam
      • Rest of APAC
    • Latin America
      • Brazil
      • Mexico
      • Rest of Latin America
      • Middle East & Africa
    • South Africa
      • Saudi Arabia
      • UAE
      • Rest of MEA

    Key Players Analysis

    The major players in the Protein Sequencing market are actively engaged in the development and introduction of innovative products, as well as implementing strategic initiatives aimed at enhancing their competitive positioning. On June 5, 2023, Bruker Corporation, a leading American scientific instrument manufacturer, unveiled the timsTOF Ultra mass spectrometer.

    This groundbreaking instrument significantly enhances sensitivity within the 4D-Proteomics timsTOF platform. Notable features include the newly introduced Captive Spray Ionization (CSI) Ultra ion source, improved vortex gas flow, a fourth-generation TIMS XR cell, as well as a 14-bit digitizer.

    Top Key Players in the Protein Sequencing Market

    • Thermo Fisher Scientific, Inc.
    • Shimadzu Corporation
    • Agilent Technologies, Inc.
    • Rapid Novor, Inc.
    • Charles River Laboratories
    • Proteome Factory AG
    • Selvita
    • Bioinformatics Solutions Inc.
    • Creative Proteomics
    • Alphalyse
    • Amphista Therapeutics
    • Amgen
    • Bruker

    Recent Developments

    • In May 2022, Amphista Therapeutics and Bristol Myers Squibb joined forces to discover and develop small-molecule protein degraders. Bristol Myers Squibb is likely to receive an exclusive license for the production and marketing of this product.
    • In January 2022, Amgen and Generate Biomedicines established a collaboration to advance protein-based therapies across various fields. The estimated value of this partnership is approximately USD 1.9 billion.

    Report Scope

    Report Features Description
    Market Value (2023) USD 3.2 billion
    Forecast Revenue (2033) USD 4.7 billion
    CAGR (2024-2033) 3.7%
    Base Year for Estimation 2023
    Historic Period 2019-2022
    Forecast Period 2024-2033
    Report Coverage Revenue Forecast, Market Dynamics, COVID-19 Impact, Competitive Landscape, Recent Developments
    Segments Covered By Product & Service (Protein Sequencing Products, Reagents & Consumables, Instruments, Mass Spectrometry Instruments, Edman Degradation Sequencers, Software, and Protein Sequencing Services), By Application (Bio-therapeutics, Genetic Engineering, and Others), By End-user (Academic Institutes & Research Centers, Pharmaceutical & Biotechnology Companies, and Other End Users)
    Regional Analysis North America – US, Canada; Europe – Germany, France, The UK, Spain, Italy, Russia, Netherlands, Rest of Europe; Asia Pacific – China, Japan, South Korea, India, Australia, New Zealand, Singapore, Thailand, Vietnam, Rest of APAC; Latin America – Brazil, Mexico, Rest of Latin America; Middle East & Africa – South Africa, Saudi Arabia, UAE, Rest of MEA
    Competitive Landscape Thermo Fisher Scientific, Inc., Shimadzu Corporation, Agilent Technologies, Inc., Rapid Novor, Inc., Charles River Laboratories, Proteome Factory AG, Selvita, Bioinformatics Solutions Inc., Creative Proteomics, Alphalyse, Amphista Therapeutics, Amgen, and Bruker.
    Customization Scope Customization for segments, region/country-level will be provided. Moreover, additional customization can be done based on the requirements.
    Purchase Options We have three licenses to opt for: Single User License, Multi-User License (Up to 5 Users), Corporate Use License (Unlimited User and Printable PDF)
    Protein Sequencing Market
    Protein Sequencing Market
    Published date: Aug 2024
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    • Thermo Fisher Scientific, Inc.
    • Shimadzu Corporation
    • Agilent Technologies, Inc.
    • Rapid Novor, Inc.
    • Charles River Laboratories
    • Proteome Factory AG
    • Selvita
    • Bioinformatics Solutions Inc.
    • Creative Proteomics
    • Alphalyse
    • Amphista Therapeutics
    • Amgen
    • Bruker Corp. Company Profile
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