The global 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.
Market Overview
The protein sequencing market involves identification of amino acid sequences in proteins. Protein sequencing finds applications in identification of protein mutations, biomarker discovery and drug development research. It helps in disease research and drug target identification.
Market key trends
One of the key trends in the protein sequencing market is growing demand for personalized medicine. Protein sequencing helps in understanding individual protein differences which influence drug response and disease risk. This is promoting increased investments by research institutes and pharmaceutical industries in development of personalized medicines with the help of protein sequencing techniques. Rapid advances in protein sequencing technologies is expected to further drive their adoption in personalized medicine applications over the forecast period.
Segment Analysis
The global protein sequencing market is segmented by product & service, technology, application and end user. Based on product & service, consumables segment dominates the market and accounts for more than 50% market share. Consumables segment includes reagents, kits and other disposables required for protein sequencing processes. The technology segment is further divided into mass spectrometry, electrophoresis and other technologies. Mass spectrometry technology dominates the market with around 60% share due to its wide applications in proteomics research. Based on application, the clinical diagnostics & drug discovery application segment accounts for the largest share and is expected to witness robust growth during the forecast period. Academic research institutes & laboratories and pharmaceutical & biotechnology companies are the key end users in the protein sequencing market.
Key Takeaways
Global Protein Sequencing Market Size is expected to witness high growth, exhibiting a CAGR of 11.2% over the forecast period, due to increasing research funding and investments in proteomics and genomics.
North America dominates the protein sequencing market with over 40% share due to presence of major pharmaceutical companies and advanced research infrastructure in the region. The Asia Pacific region is expected to witness the fastest growth during the forecast period owing to increasing research activities, presence of emerging economies and rising healthcare expenditure in the region.
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, and Rapid Novor Inc. These players are focusing on new product launches and expansion of manufacturing facilities globally to strengthen their market position. The global protein sequencing market size was valued at US$ 1.9 billion in 2023 and is projected to reach more than US$ 4 billion by 2030.
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1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it