Protein Sequencing Market 2024 Size, Product Trends, Key Drivers, Share Analysis And Forecast To 2033

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 growth in the historic period can be attributed to research demand, medical diagnostics, pharmaceutical development, agricultural applications, forensic analysis, biomarker discovery, and genetic evolution studies.

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 growth in the forecast period can be attributed to clinical genomics integration, expanded agricultural genomics, drug safety and pharmacogenomics, prenatal and newborn screening, and environmental DNA analysis. Major trends in the forecast period include growing demand for next-generation sequencing, increasing applications in clinical diagnostics, and rising investments in genomics research, expanding use in personalized medicine.

Market Overview -
Protein sequencing refers to the process of determining the precise order of amino acids within a protein or peptide. This technique is used to determine the precise order of amino acids within a protein molecule, which is crucial for understanding its structure and function in biomedical research

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Genetic Illness Propels Protein Sequencing Market Growth
The rise in genetic illness is expected to propel the growth of the protein sequencing market going forward. A genetic illness refers to any disease or disorder that is caused by abnormalities or mutations in an individual's genetic material, generally their DNA. The rise in genetic illness is caused due to genetic mutations that can occur spontaneously or be inherited from parents. Protein sequencing can help identify specific genetic variants responsible for causing diseases thereby helping identify protein biomarkers, which are molecules indicative of a particular disease state or physiological condition. For instance, in March 2024, according to the Gene People, a UK-based registered charity with a vision to improve the lives of individuals, in the UK, approximately 30,000 babies and children are newly diagnosed with genetic conditions annually, with over 2.4 million individuals, encompassing both children and adults, living with such conditions. Therefore, the rise in genetic illness is driving the growth of the protein sequencing market.

Competitive Landscape -
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

Technologically Advanced Kits For Providing Accessible And Cost-Efficient Alternately
Major companies operating in the protein sequencing market are developing advanced technology products that are upgraded, such as sequencing kits, to gain a competitive edge in the market. Sequencing kits are collections of reagents, chemicals, and materials required to prepare samples and conduct sequencing experiments. For instance, in February 2024, Quantum-Si, a US-based protein sequencing company, launched Protein Sequencing Kit V2, an enhancement for its Platinum protein sequencing platform. It offers increased sequencing performance with assay improvements, including the addition of a new amino acid recognizer, as well as the ability to identify unknown proteins through advanced analytical and inference tools. These upgrades provide increased sequencing performance, the ability to identify unknown proteins, high reproducibility, and a three-fold reduction in cost per amino acid.

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Key Segments -
The protein sequencing market covered in this report is segmented -
1) By Product And Service : Protein Sequencing Products, Protein Sequencing Services
2) By Application: Bio-Therapeutics, Genetic Engineering, Other Applications
3) By End User 3: Pharmaceutical And Biotechnology Companies, Other End-Users

Key highlights covered in the report -
1. Detailed market size forecast and historical data analysis
2. Key drivers influencing market growth
3. Identification of upcoming trends and potential opportunities in the market
4. Analysis of major players strategies, to understand competitive dynamics and market positioning
5. Evaluation of regional dynamics

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