Burlingame, Dec. 12, 2023 (GLOBE NEWSWIRE) -- According to Coherent Market Insights, The global protein sequencing market was valued at US$ 1.9 Billion in 2023 and is forecast to reach a value of US$ 4 Billion by 2030 at a CAGR of 11.2% between 2023 and 2030.
Market Dynamics:
The driving factors contributing to the growth of the Protein Sequencing Market include the rising demand for personalized medicine and advancements in proteomics research. Personalized medicine requires understanding the unique genetic makeup of an individual to tailor treatment plans and therapies. Protein sequencing plays a crucial role in identifying specific proteins and peptides necessary for personalized medicine. Moreover, advancements in proteomics research, such as the development of high-throughput protein sequencing techniques and mass spectrometry, are further driving market growth. These techniques allow for the identification and characterization of proteins, leading to significant advancements in drug discovery and development.
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Market Trends:
Two key trends shaping the Protein Sequencing Market are the increasing adoption of Next-Generation Sequencing (NGS) technologies and the growing focus on bioinformatics analysis. NGS technologies allow for high-throughput sequencing of proteins, enabling researchers to analyze large quantities of protein data quickly and cost-effectively. This trend is driving the demand for advanced protein sequencing technologies, leading to market growth. Additionally, there is a growing focus on bioinformatics analysis, which involves the collection, storage, and interpretation of protein sequencing data. This trend is driven by the need for efficient data analysis and interpretation to enhance the understanding of protein functions and interactions.
Protein Sequencing Market: Seizing Opportunities for Growth
The Protein Sequencing market, valued at US$ 1.9 billion in 2023, is expected to experience a robust CAGR of 11.2% during the forecast period of 2023-2030. This significant growth can be attributed to the increasing demand for accurate and comprehensive proteomic analysis, which has driven the adoption of protein sequencing technologies and methods. As the demand for personalized medicine and targeted therapeutics continues to rise, the Protein Sequencing market presents substantial opportunities for market players.
Advancements in Edman Degradation Technology
Edman Degradation is the dominating technology in the Protein Sequencing market. This technology has witnessed significant advancements in recent years, leading to increased accuracy and efficiency in protein sequencing. With the ability to accurately determine the sequence of amino acids in a protein, Edman Degradation has become an essential tool for pharmaceutical and biotechnology companies in drug discovery and development. The growing adoption of this technology is driving market growth in the Protein Sequencing segment.
Increasing Demand for Instruments in Protein Sequencing
Instruments are the dominating product segment in the Protein Sequencing market. This is primarily due to the rising demand for advanced and innovative instruments that can handle complex proteomic analyses. The development of high-performance mass spectrometers and other sequencing instruments has revolutionized the field of protein sequencing, enabling researchers to obtain precise and reliable data. As a result, the demand for instruments is expected to continue growing, driving market expansion in the coming years.
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Recent development:
In March 2022, Bruker Corporation introduced the high-throughput 4 D proteomics timesTOF flex platform.
In September 2022, BioProof AG, a contract laboratory with expertise in GMP biolics testing was purchased by SGS.
Key Market Takeaways:
The Protein Sequencing market is anticipated to witness a CAGR of 11.2% during the forecast period 2023-2030, owing to increasing demand for accurate proteomic analysis. On the basis of technology, Edman Degradation is expected to hold a dominant position, owing to its advancements and accuracy in protein sequencing. In the product segment, instruments are expected to dominate the market due to the increasing demand for advanced and innovative sequencing instruments.
In terms of applications, academic research is the dominating segment in the Protein Sequencing market. The academic research sector extensively utilizes protein sequencing for various studies and experiments. Moreover, with the increasing focus on understanding complex biological processes and diseases, the demand for protein sequencing in academic research is projected to grow significantly.
Pharmaceutical and biotechnology companies are the dominating end-users in the Protein Sequencing market. These companies heavily rely on protein sequencing for drug discovery, target identification, and therapeutic development. The need for accurate protein analysis in the pharmaceutical industry is driving the adoption of protein sequencing technologies.
Among the regions, North America is expected to hold a dominant position in the Protein Sequencing market over the forecast period. The region is known for its significant investments in research and development activities, advanced healthcare infrastructure, and the presence of key market players. These factors contribute to the market's growth in North America.
Key players operating in the Protein Sequencing market include Agilent, Thermo Fisher Scientific, SGS SA, Shimadzu Corp, Waters Corp., Bio-Rad Laboratories, Bruker, Charles River Labs, Selvita, and Rapid Novor. These leading market players focus on technological advancements and strategic collaborations to gain a competitive edge in the market.
Read complete market research report," Protein Sequencing Market, By Technology, By Product, By Application, By End-user, By Region, and Segment Forecast 2023-2030", Published by Coherent Market Insights.
Market Segmentation:
- By Technology
- Edman Degradation
- Mass Spectrometry
- Others
- By Product
- Instruments
- Reagents, Kits & Consumables
- Software & Services
- By Application
- Academic Research
- Clinical Diagnosis
- Biopharmaceuticals
- Others
- By End user
- Pharmaceutical & Biotechnology Companies
- Academic & Research Institutes
- Contract Research Organizations
- By Geography
- North America
- U.S.
- Canada
- Latin America
- Brazil
- Mexico
- Rest of Latin America
- Europe
- Germany
- U.K.
- Spain
- France
- Italy
- Russia
- Rest of Europe
- Asia Pacific
- China
- India
- Japan
- Australia
- South Korea
- Rest of Asia Pacific
- Middle East & Africa
- South Africa
- GCC Countries
- Rest of Middle East & Africa
- North America
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