Protein Sequencing Market
Number of pages: 100 | Report Format: PDF | Published date: March 22, 2023
Historical Years – 2021 | Base Year – 2022 | Forecasted Years – 2023-2031
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Report Attribute |
Details |
|
Market Size Value in 2022 |
US$ 1.32 billion |
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Revenue Forecast in 2031 |
US$ 1.79 billion |
|
CAGR |
3.4% |
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Base Year for Estimation |
2022 |
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Forecast Period |
2023-2031 |
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Historical Year |
2021 |
|
Segments Covered |
Product, Application, End-users, and Region |
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Regional Scope |
North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa |
According to the deep-dive market assessment study by Growth Plus Reports, the global protein sequencing market was valued at US$ 1.32 billion in 2022 and is expected to register a revenue CAGR of 3.4% to reach US$ 1.79 billion by 2031.
Protein Sequencing Market Fundamentals
Protein sequencing is a technique for establishing a protein’s precise sequence of amino acids. It is a useful technique in molecular biology for analyzing the structure and function of proteins. Protein sequencing can discover unknown proteins, define a protein’s function, or examine its evolution. Because of the rising need for proteins in research and development, as well as the need for more accurate and precise sequencing technologies, the protein sequencing market is likely to rise in the coming years. Protein sequencing is a time-consuming and sophisticated procedure. The industry will likely expand as more businesses enter the market and offer new and improved protein sequencing services.
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Protein Sequencing Market Dynamics
A prominent global protein sequencing market driver is the increasing emphasis on target-based drug development operations by biotechnology and pharmaceutical businesses in various emerging and developed areas. Recent improvements in de novo protein-sequencing technologies and analytical approaches, including the usage of neural networks, have opened up new commercial opportunities. The increasing emphasis on target-based drug development efforts by biotechnology and pharmaceutical firms in various emerging and developed areas is a significant factor driving the market. Increasing funding for proteomics research in developing and established countries is fueling market revenue growth. The need for protein biomarkers in drug development is a significant factor driving the rapid rise of the protein sequencing market. Increasing funding for proteomics research in developing and established countries is a major market. The surge in demand for protein biomarkers in the drug development process is a significant factor propelling the protein sequencing market’s rapid revenue growth.
Protein sequencing techniques are increasingly used to detect new peptides in human antibodies and antigens, driving the protein sequencing industry. Additionally, in some regions of the world, a lack of relevant technical knowledge and laboratory facilities are issues that prevent the industry from reaching its full potential. Nevertheless, technical advances in identifying isobaric residues in protein sequences are projected to open up many new opportunities in the global protein sequencing industry.
However, various factors are restricting the market revenue growth. The high cost of protein sequencing devices and reagents is a significant commercial limitation. These expensive tools and reagents are necessary for carrying out protein sequencing investigations. Another market constraint is a scarcity of skilled workers. Performing protein sequencing is a complex process requiring skilled professionals to execute it accurately. Another market restraint is the time required for protein sequencing investigations. These investigations can take several hours to several days, which is a significant time limitation for many facilities. The final major market constraint is the scarcity of commercially available protein sequencing tools.
Protein Sequencing Market Ecosystem
The global protein sequencing market has been analyzed from four perspectives: product, application, end-users, and region.
Protein Sequencing Market by Product
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Based on the product, the global protein sequencing market can be further segmented into protein sequencing products and protein sequencing services.
The protein sequencing products segment dominates the global market with the largest revenue share. Reagents & consumables, instruments, and software constitute the protein sequencing products. Various bio-analytical technologies have been developed recently to analyze proteins and peptides in proteomics. Mass spectrometry has emerged as a potential method in proteomics research for determining the molecular mass of proteins, peptides, and sequences. Mass spectrometry has various advantages, such as high-tech sequencing capability, affordability, and the ability to discover blocked or changed proteins, further encouraging segment revenue growth. The market is also developing due to the increased emphasis on introducing technologically sophisticated mass spectrometry equipment and extending usage in proteomics research. In addition, lower instrument pricing has boosted market expansion. The launch of technologically advanced protein sequencing instruments, enabling the availability of enhanced sequencing systems among service providers, is attributed to the revenue growth of the protein sequencing services segment.
Protein Sequencing Market by Application
Based on the application, the global protein sequencing market can be further segmented into bio-therapeutics, genetic engineering, and others.
Bio-therapeutics are often used in personalized medicine, where treatments are tailored to each patient’s needs. As the demand for personalized medicine grows, so does the demand for bio-therapeutics, driving the revenue growth of the protein sequencing market. Chronic diseases such as cancer, diabetes, and autoimmune disorders are rising. Bio-therapeutics are becoming an increasingly important part of the treatment arsenal for these conditions. As a result, the demand for bio-therapeutics is increasing, driving the revenue growth of the protein sequencing market. Proteomics research is advancing rapidly, with new techniques and technologies always emerging. This leads to an increased understanding of proteins’ role in health and disease, and it is also driving the development of new biotherapeutics. Regulatory bodies, such as the FDA, are providing increased support for the development of bio-therapeutics, which is helping to drive their adoption and use. As a result, companies are investing heavily in developing bio-therapeutics, which is driving the revenue growth of the protein sequencing market.
Protein Sequencing Market by End-user
Based on the end-user, the global protein sequencing market can be further segmented into academic institutes & research centers, pharmaceutical & biotechnology companies, and others.
Academic institutes and research centers typically have a wealth of experience and expertise in protein sequencing, thus leading the global protein sequencing market with the largest revenue share. This segment has highly trained researchers that aim to focus on understanding the intricacies of protein sequencing. Academic institutes and research centers also often have access to the most advanced sequencing technologies available. They have the resources and funding to invest in state-of-the-art equipment and facilities that allow them to conduct cutting-edge research. They often collaborate with other institutions and researchers worldwide, allowing them to pool their resources and knowledge. This collaboration and networking can lead to breakthroughs in protein sequencing and accelerate the pace of scientific discovery. Academic institutes and research centers typically have access to significant funding from governments, foundations, and private donors. This funding allows them to invest in expensive equipment and facilities and attract and retain top talent in the field of protein sequencing.
The pharmaceutical and biotechnology firms segment is expected to expand rapidly throughout the projected period. Protein sequencing, particularly mass spectrometry, is used in the pharmaceutical industry for drug discovery and development. As a result, the increasing need for biomolecule analysis and medication component analysis is propelling the industry forward. The sophisticated mass spectrometry instruments provide high throughput and an optimal testing environment. As a result, the demand for such sophisticated goods among these end-users is growing. It is one of the market’s major revenue drivers. The institutes are performing extensive research and development to develop protein sequencing technology. As a result, technical developments in protein sequencing techniques are expected to drive market expansion.
Protein Sequencing Market by Region
Based on the region, the global protein sequencing market can be further segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.
The North America protein sequencing market has a significant revenue share and will likely dominate the target market throughout the forecast period. Increased investment in proteomic research from governmental and commercial institutions and significant important players in regional countries, such as the United States and Canada, are expected to boost the expansion of the target market.
Asia Pacific is estimated to be the fastest-growing region in the global protein sequencing market. The market revenue growth in this region can be attributed to various factors, such as increasing cases of chronic diseases among the population, and the growing geriatric population, thus increasing the need for protein sequencing. Growing technological advancements and improving healthcare infrastructure with increasing healthcare expenditure are projected to propel regional market growth. Furthermore, rising government efforts and investments in life science research and development in countries, such as Japan and India, will assist the region’s revenue growth during the forecast period.
Protein Sequencing Market Competitive Landscape
The prominent players operating in global protein sequencing are:
Protein Sequencing Market Strategic Developments
The global protein sequencing market is expected to be US$ 1.79 billion in 2031.
The high cost of infrastructures and the required equipment, such as mass spectrometers, hamper the market revenue growth.
The market is expected to register growth at a revenue CAGR of 3.4% during the forecast period from 2023 to 2031.
Rising technological advancements and growing acquisitions and collaborations are key drivers in the global market.
Nihon Kohden Corporation, Thermo Fisher Scientific Inc., Shimadzu Corporation, and Agilent Technologies Inc. are prominent players in the global protein sequencing market.
*Insights on financial performance are subject to the availability of information in the public domain