Protein Sequencing Market Size, Share & Trends Analysis Report By Product & Service (Protein Sequencing Products, Protein Sequencing Services), By Application, By End-user, And Segment Forecasts, 2022 - 2030

Report Overview

The global protein sequencing market size was valued at USD 1.30 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 3.5% from 2022 to 2030. The development of commercial and non-commercial antibody research, coupled with the growing investment by biotechnology companies in the advancement of proteomics, is anticipated to become a key growth determinant of the market. However, except for some proteins, such as p53, a considerable amount of human proteins is understudied. The understanding of protein’s biological function is lacking amongst researchers.

The market has witnessed a surge in revenue owing to the COVID-19 pandemic. The widespread nature of the virus compelled countries to perform protein sequencing on a large scale in order to gain insights for drug discovery. For instance, a research published in April 2021 employed protein sequencing for the comparative study between HIV-1 and COVID-19. The virus classification of HIV-1 and COVID-19 is crucial for COVID-19 drug discovery.

The global market is surging owing to the outcome of advancing biomedical research and the rapidly growing R&D activities that support protein expression. Protein sequencing eases the detection of new biomarkers for the diagnosis of cancer and other diseases. Along with that, it improves the understanding of healthy cell functionality. However, the study of the diversity of proteins through the genome is still an untapped market.

Strategic initiatives by academic institutions in order to modify sequencing techniques for proteins are expected to support the rising market momentum. For instance, researchers from the University of Texas published developed technologies such as DNA sequencing for understanding protein. Fluorosequencing is a patented technology that offers comprehensive and rapid information regarding thousands of proteins. The inventors of the technology established a startup company, Erisyion Inc., to market the technology. The applications of the technology include Parkinson's disease detection and diagnosis, identification of antigen proteins for treating immune-oncology, detecting the camouflage system, drug development, and industrial biology.

Similarly, in June 2021, a collaborative study was published by researchers across the globe, including Poland, Netherlands, the U.S., Israel, Switzerland, Italy, France, Luxembourg, Spain, Germany, and Canada, on single-molecule protein sequencing technologies. The researchers stated that transformation in techniques of protein sequencing would enable protein examination at the single-cell even with low abundance proteins. Hence, whole proteome sequencing is anticipated to open up a range of opportunities in the area of medical diagnostics.

However, the maintenance and operation of equipment for protein sequencing are complex. Even if a mass spectrometer is appropriately maintained, it may require troubleshooting in a short period to get it to work as required. This is one of the operational challenges faced by the users.

Product & Service Insights

The protein sequencing products segment led the market with a share of over 80.0% in 2021. In the instruments segment, the mass spectrometry instruments sub-segment held the largest share in 2021. Over the past few years, several bio-analytical tools are being employed to study proteins and peptides in the field of proteomics. Mass spectrometry has become a promising tool for proteomics research for the determination of the molecular mass of proteins, peptides, and sequences.

Along with that, the reduced pricing of instruments has positively impacted market growth. For instance, in 2018, the price of mass spectrometry was estimated at around USD 400,000; however, in 2020, the unit price ranges from below USD 10,000 to USD 100,000. Increasing financing options such as leasing the instruments have enabled researchers to employ the technology at the minimal cost possible.

The protein sequencing services segment is anticipated to witness lucrative growth during the forecast period. The increasing number of academic institutions and research centers offer access to researchers to their labs and instruments at a nominal cost, ranging from USD 8 per hour to USD 300 per hour.

Along with that, various companies are developing innovative technologies that ease protein sequencing for the service providers. For instance, in September 2022, NVIDIA Corporation announced to combine NeMo LLM cloud service with BioNeMO, which offers researchers access to biology language models and pre-trained chemistry. These services assist in research interaction and manipulate protein and data for various applications, including drug discovery.

Application Insights

The bio-therapeutics segment captured the largest share of over 55.0% in 2021. This can be attributed to the increasing participation of pharmaceutical companies in developing bio-therapeutics. Recombinant therapeutic proteins, specifically monoclonal antibodies, are considered to be the essence of bio-therapeutics for treating numerous diseases. As of May 2021, 100 monoclonal antibodies were approved by the U.S. FDA.

Similarly, increasing strategic initiatives by the players in the bio-therapeutics sector are expected to support the growth of the market. For instance, in November 2021, Generate Biomedicines announced to raise USD 370 million via Series B to support the development of a drug generation platform. The platform is to understand the genetic coding in the functionality of proteins. It is a revolutionary technique in drug development and protein therapeutics.

End-user Insights

The academic institutes and research centers segment held the largest share of over 45.0% in 2021. It is one of the major revenue generators of the market. The institutions are conducting thorough research and development to develop protein sequencing technologies. For instance, in January 2022, researchers from the University of Texas announced the development of a practical approach for single-molecule protein sequencing. Hence, technological advancements in the techniques of protein sequencing are anticipated to boost the market growth.

The pharmaceutical and biotechnological companies segment is anticipated to witness the fastest growth during the forecast period. The use of protein sequencing, especially mass spectrometry, in the pharmaceutical industry is associated with the drug discovery and development process. Thus, the growing demand for biomolecule analysis and drug component analysis is surging the segment growth. The advanced mass spectrometry systems offer high throughput and an optimized environment for testing. Thus, the demand for such advanced products is increasing among these end-users.

Regional Insights

North America held the largest revenue share of over 35.0% in 2021. This can be attributed to the existence of well-established academic institutions and research centers in the region, along with increasing funding opportunities in R&D. The government funding in the region is considerably strong in support of organizations. For instance, UniProt is a portal that offers resources for protein sequencing and functional information free of cost. This portal is backed by various government institutions, including the National Eye Institute (NEI); the National Heart, Lung, and Blood Institute (NHLBI); and the National Human Genome Research Institute (NHGRI).

Asia Pacific is estimated to witness the fastest growth in the forecast period owing to the increasing adoption of mass spectrometry-based technologies in India and China for various applications. Additionally, the rising attention toward proteomics and genomics research and growing initiatives by academic institutions for developing protein-based therapeutics have provided the Asia Pacific market with significant growth opportunities.

Key Companies & Market Share Insights

Companies and service providers in this market are using strategies such as technology discovery and development, vertical collaboration, establishing a strong product portfolio through startups, mergers and acquisitions, and regional expansion to increase their global footprints.

For instance, Bruker employed Pittcon as the platform to introduce a range of tools and instruments, such as the mass spectrometry platform, which was developed to replace Edman sequencing tools for sequencing. The launch of technologically advanced products assists companies to gain a competitive edge over competitors. Some prominent players in the global protein sequencing market include:

• Thermo Fisher Scientific, Inc.

• Shimadzu Corporation

• Agilent Technologies, Inc.

• Rapid Novor, Inc.

• Charles River Laboratories

• Proteome Factory AG

• Selvita 

• Bioinformatics Solutions Inc.

• Creative Proteomics

• Alphalyse 

• Bruker

Protein Sequencing Market Report Scope

Global Protein Sequencing Market Segmentation

This report forecasts revenue growth at the global, regional, and country levels and provides an analysis of the latest industry trends and opportunities in each of the sub-segments from 2018 to 2030. For the purpose of this study, Grand View Research has segmented the global protein sequencing market report on the basis of product and service, application, end-user, and region:

• Product & Service Outlook (Revenue, USD Million, 2018 - 2030)

  • Protein Sequencing Products

    • Reagents & Consumables

    • Instruments

      • Mass Spectrometry Instruments

      • Edman Degradation Sequencers

    • Software

  • Protein Sequencing Services

• Application Outlook (Revenue, USD Million, 2018 - 2030)

  • Bio-therapeutics

  • Genetic Engineering

  • Others

• End-user Outlook (Revenue, USD Million, 2018 - 2030)

  • Academic Institutes & Research Centers

  • Pharmaceutical & Biotechnology Companies

  • Others

• Regional Outlook (Revenue, USD Million, 2018 - 2030)

  • North America

    • U.S.

    • Canada

  • Europe

    • U.K.

    • Germany

    • France

    • Italy

    • Spain

  • Asia Pacific

    • Japan

    • China

    • India

    • South Korea

    • Australia

  • Latin America

    • Brazil

    • Mexico

    • Argentina

  • Middle East & Africa

    • South Africa

    • Saudi Arabia

    • UAE