PUBLISHER: The Business Research Company | PRODUCT CODE: 1484850
PUBLISHER: The Business Research Company | PRODUCT CODE: 1484850
Protein sequencing involves deciphering the specific sequence of amino acids within a protein or peptide, which is essential for comprehending its structure and function in biomedical research.
The primary offerings in protein sequencing encompass both products and services. Protein sequencing products comprise tools and materials utilized in the determination of amino acid sequences in proteins. These products find applications in various fields such as bio-therapeutics, genetic engineering, among others, catering to end-users including pharmaceutical and biotechnology companies. Additionally, protein sequencing services provide specialized expertise and support in performing protein sequencing analyses for research and development purposes.
The protein sequencing market research report is one of a series of new reports from The Business Research Company that provides protein sequencing market statistics, including protein sequencing industry global market size, regional shares, competitors with protein sequencing market share, detailed protein sequencing market segments, market trends, and opportunities, and any further data you may need to thrive in the protein sequencing industry. This protein sequencing market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.
The protein sequencing market size has grown strongly in recent years. It will grow from $1.55 billion in 2023 to $1.70 billion in 2024 at a compound annual growth rate (CAGR) of 9.8%. The expansion witnessed in the historic period can be attributed to various factors, including increased demand for research, advancements in medical diagnostics, developments in pharmaceuticals, applications in agriculture, forensic analysis, biomarker discovery, and studies in genetic evolution.
The protein sequencing market size is expected to see rapid growth in the next few years. It will grow to $2.51 billion in 2028 at a compound annual growth rate (CAGR) of 10.2%. The anticipated growth during the forecast period stems from the integration of clinical genomics, the expansion of agricultural genomics, advancements in drug safety and pharmacogenomics, the enhancement of prenatal and newborn screening, and the analysis of environmental DNA. Key trends expected during this period encompass heightened demand for next-generation sequencing, expanding applications within clinical diagnostics, and escalating investments in genomics research, furthering its role in personalized medicine.
The surge in genetic illnesses is poised to drive growth in the protein sequencing market. Genetic illnesses, stemming from abnormalities or mutations in an individual's genetic material, notably DNA, have been on the rise due to spontaneous mutations or inheritance from parents. Protein sequencing plays a pivotal role in identifying specific genetic variants responsible for diseases by pinpointing protein biomarkers, indicative molecules of particular disease states or physiological conditions. For example, Gene People reported in March 2024 that approximately 30,000 babies and children are newly diagnosed with genetic conditions annually in the UK, with over 2.4 million individuals, encompassing both children and adults, living with such conditions. This underscores the pivotal role of protein sequencing in addressing the challenges posed by genetic illnesses, thereby propelling market growth.
Leading companies in the protein sequencing market are innovating with advanced technology products, particularly upgraded sequencing kits, to maintain a competitive edge. Sequencing kits, comprising reagents, chemicals, and materials necessary for sample preparation and sequencing experiments, are continually evolving to meet the demands of the market. For instance, Quantum-Si unveiled its Protein Sequencing Kit V2 in February 2024, an enhancement for its Platinum protein sequencing platform. This upgrade offers improved sequencing performance, incorporating assay enhancements such as a new amino acid recognizer and advanced analytical and inference tools for identifying unknown proteins. These advancements not only enhance sequencing performance and reproducibility but also enable the identification of unknown proteins, accompanied by a significant reduction in cost per amino acid.
In October 2023, Thermo Fisher Scientific bolstered its presence in the proteomics market through the acquisition of Olink Holding AB for $3.1 billion. This strategic move is poised to augment Thermo Fisher's capabilities in the high-growth proteomics market, complementing its existing life sciences and mass spectrometry offerings. Olink Holding AB, based in Sweden, is dedicated to accelerating proteomics research across multiple disease areas, fostering collaborations with the scientific community to drive new discoveries and improve patient outcomes. This acquisition underscores Thermo Fisher's commitment to advancing proteomics and underscores the market's potential for growth.
Major companies operating in the protein sequencing market are F Hoffmann-La Roche Ltd, Thermo Fisher Scientific Inc, Merck KGaA, Eurofins Scientific SE, Illumina Inc, Beckman Coulter Inc, PerkinElmer Inc, BGI Group, LGC Limited, GenScript Biotech Corporation, Oxford Nanopore Technologies Ltd, Pacific Biosciences of California Inc, Macrogen Inc, GENEWIZ Inc, Quintara Biosciences Inc, Source BioScience plc, Microsynth AG, Fasteris SA, GenHunter Corporation, Nucleics Pty Ltd, SciGenom Labs Pvt Ltd, StarSEQ GmbH, GATC Biotech AG, Agilent Technologies Inc, CeMIA SA
North America was the largest region in the protein sequencing market in 2023. Europe is expected to be the fastest-growing region in the forecast period. The regions covered in the protein sequencing market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the protein sequencing market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The protein sequencing market consists of revenues earned by providing services such as N-terminal protein sequencing, de novo amino acid sequencing, peptide mapping, de novo antibody sequencing, and amino acid analysis. The market value includes the value of related goods sold by the service provider or included within the service offering. The protein sequencing also includes sales of mass spectrometry instruments and Edman degradation sequencers. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Protein Sequencing Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on protein sequencing market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for protein sequencing ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The protein sequencing market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.
The impact of higher inflation in many countries and the resulting spike in interest rates.
The continued but declining impact of COVID-19 on supply chains and consumption patterns.