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.
Protein sequencing refers to the process of determining the amino acid sequence or order of protein molecules. It helps in understanding protein structure and function. Advancements in mass spectrometry and other technologies have simplified protein sequencing. Protein sequencing finds applications in biosimilars development, personalized medicine and molecular biology research. It aids in disease research and development of new biologics and therapeutics. Rapid innovation is occurring in this space due to growing R&D investments.
Market key trends:
Emerging startups are driving innovation in the protein sequencing market. Companies are developing novel techniques like terminal amino acid sequencing, tandem mass tagging and top-down proteomics for robust and high-throughput protein analysis. This is improving proteomic studies. Personalized medicine is creating opportunities where protein sequencing can help devise customized treatment protocols. Technologies like microfluidics are making protein sequencing portable and affordable for various settings. Integration of AI and machine learning is also assisting in automated protein identification and characterization. These trends are supporting the market growth over the forecast period.
Threat of new entrants: The protein sequencing market requires high investment in R&D to develop innovative technologies. This high barrier to entry protects existing players from new competition.
Bargaining power of buyers: The availability of substitute techniques for proteomics analysis limits the bargaining power of buyers in this market.
Bargaining power of suppliers: Key intellectual property rights and expertise in proteomics provides suppliers with bargaining power over buyers in terms of pricing and product development.
Threat of new substitutes: Few substitute technologies exist for protein sequencing currently. Mass spectrometry is the main technique adopted globally.
Competitive rivalry: The protein sequencing market is moderately competitive with the presence of global key players. Companies compete based on technological innovations to gain market share.
The Global Protein Sequencing Market Size is expected to witness high growth, exhibiting CAGR of 11.2% over the forecast period, due to increasing investments in proteomics research and growing significance of protein sequencing in drug discovery and clinical diagnostics.
North America dominates the global protein sequencing market currently due to established pharmaceutical and biotechnology industry and availability of research funding. Asia Pacific is anticipated to be the fastest growing market due to rising R&D expenditure and increasing adoption of proteomics techniques in emerging nations.
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. Companies are focusing on developing advanced technologies and collaborating with research institutes to expand their market presence.