The Protein Sequencing Market is estimated to be valued at US$ 1.9 Billion in 2022 and is expected to exhibit a CAGR of 11.2% over the forecast period 2023-2030, as highlighted in a new report published by Coherent Market Insights.
Protein sequencing refers to the process of determining the amino acid sequence or order of polypeptides or proteins. It is an important part of proteomics and protein science that helps understand protein functions. Advancements in mass spectrometry tools have enabled high-throughput protein sequencing at low costs. Protein sequencing finds widespread applications in disease diagnostics, drug discovery and development, and other fields of life science research.
The protein sequencing market is expected to witness significant growth over the forecast period, owing to rising demand for disease diagnosis and drug discovery. Protein sequencing is increasingly being used in precision medicine to understand disease biology at the protein level for developing targeted therapies. It helps identify potential protein biomarkers for early disease detection. Moreover, advancements in mass spectrometry technologies have improved throughput and reduced costs of protein sequencing, making it feasible for large-scale applications. This is encouraging incorporation of protein sequencing in early drug discovery workflows to aid lead optimization and clinical candidate selection. Additionally, growing R&D investments by pharma/biotech companies and rising government funding for proteomics research are fueling the market growth.
Strength: The protein sequencing market has witnessed significant advancements in technology. Three new technologies such as ion mobility spectrometry, nanopore sequencing and native mass spectrometry have improved accuracy and speed of protein sequencing. Fragmentation techniques have become more efficient reducing analysis time.
Weakness: Protein sequencing requires highly skilled professionals for operation and data analysis which increases costs. Sample preparation is a time taking process limiting high throughput capabilities.
Opportunity: Growing focus on developing personalized medicine and disease diagnostics is driving protein sequencing adoption. Rising R&D investments to discover novel biomarkers will boost revenues. Expanding proteomics market presents lucrative opportunities.
Threats: High installation and maintenance costs of sequencing instruments poses significant barrier. Intense competition from emerging players erodes profit margins. Stringent regulatory approval delays market access.
Global Protein Sequencing Market Size is expected to witness high growth, exhibiting CAGR of 11.2% over the forecast period, due to increasing focus on proteomic research and drug development.
North America dominates the global protein sequencing market and is expected to maintain its lead over the forecast period. Rising government funding for proteomic research, presence of prominent players and growing biotech industry are some factors attributing to its large market share. Asia Pacific is anticipated to be the fastest growing market growing at a CAGR owing to increasing healthcare spending, rising disease burden and growing focus on precision medicine.
Key players operating in the protein sequencing market are Agilent Technologies, Thermo Fisher Scientific, SGS S.A., Shimadzu Corp, Waters Corp., Bio-Rad Laboratories, Bruker Corporation, Charles River Laboratories, Selvita, Rapid Novor Inc. Thermo Fisher Scientific and Danaher Corporation hold the major market share currently due to their strong product portfolio and global presence.
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it