PROTEIN SEQUENCING MARKET SIZE AND SHARE ANALYSIS - GROWTH TRENDS AND FORECASTS (2023 - 2030)

The protein sequencing market size is expected to reach US$ 4.22 billion by 2030, from US$ 1.90 billion in 2023, at a CAGR of 12.1% during the forecast period. Protein sequencing is the process of determining the amino acid sequence of a protein. It provides vital information about protein structure, function, and interactions. The key technologies used are Edman degradation, mass spectrometry, and others. Protein sequencing finds applications in academic research, clinical diagnosis, biopharmaceuticals, forensics, and food analysis. The growth of the market is driven by increasing investments in proteomics research, growth in the biopharmaceutical sector, and technological advancements in sequencing methods.

The protein sequencing market is segmented by technology, product, application, end user and region. By technology, the Edman degradation segment accounts for the largest share of the market. This is attributed to its accuracy and reliability for N-terminal sequencing.

Protein Sequencing Market Regional Insights:

• North America is expected to be the largest market for protein sequencing during the forecast period, accounting for over 33.5% of the market share in 2022. The growth of the market in North America is attributed to the high investments in proteomics and genomics research, presence of leading players, and increasing biopharma sector. Increasing product launches in the region is expected to drive the growth of the protein sequencing market in the region over the forecast period. For instance, in December 2022, Quantum-Si Incorporated, a protein sequencing company, announced the commercial availability of Platinum, the world’s first next-generation single-molecule protein sequencing platform. Platinum will be offered at an unprecedented low price-point of US$ 70,000, while its small 19.5 inch by 8.5 inch footprint benchtop design is poised to greatly improve access to high-resolution protein sequencing data, ultimately accelerating breakthroughs across scientific disciplines—from drug discovery to biotech—and helping people live healthier and longer lives.
• Europe is expected to be the second-largest market for protein sequencing, accounting for over 22% of the market share in 2022. The growth of the market in the region is attributed to increasing research on proteomics and molecular biology, funds for biotechnology research, and increasing inorganic growth strategies by market players in the region. For instance, on July 24 2023, SomaLogic Operating Co. Inc., a leader in data-driven proteomics technology, announced its partnership with Dante Genomics, a global leader in genomics and precision medicine, to offer a comprehensive solution for proteomics testing at scale in Europe. Dante will be the first SomaLogic authorized site in Italy.
• Asia Pacific is expected to be the fastest-growing market for protein sequencing, exhibiting a CAGR of over 17% during the forecast period. The growth of the market in Asia Pacific is attributed to the improving R&D infrastructure, growing biopharma sector, and opportunities in emerging economies. For instance, on May 7 2023, SomaLogic, Inc., a global leader in proteomics technology, announced that it is sponsoring the Genomax Research Grant Award for researchers in Singapore. This effort is SomaLogic’s first grant in the APAC region. The winners of the award will receive proteomic data from SomaLogic’s 7,000-plex assay, which will be run at Singapore-based Molecular Genomics, a Genomax Technologies company. The Genomax site, opened in November 2022, was the first SomaLogic authorized site in Asia to offer the SomaScan Platform.

Figure 1. Global Protein Sequencing Market Share (%), by Region, 2023

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Analyst View:

While declining costs and greater usability of protein sequencing platforms will incentivize more widespread adoption, ensuring high sequence accuracy and coverage remains a challenge restricting broader use especially for complex protein samples. Laboratories also face pressure to enhance productivity given the immense amount of data generated which requires expensive computational storage and analysis. Furthermore, inadequate proteomics skills and expertise in developing regions act as a hindrance. Nonetheless, expanding applications in drug development, disease biomarker discovery and clinical diagnostics are likely to keep demand robust. Sustained proteomics research focus on multi-omics is opening up new revenue streams as well for sequencing firms. Overall, the market remains on a positive growth trajectory over the long term.

Protein Sequencing Market Drivers:

• Increasing investments in proteomics research: Increasing investments in proteomics research is driving the protein sequencing market growth. Proteomics, the study of proteins and their structure and functions, has seen rising interest and investments globally. Public and private funding for proteomics reached over US$ 2.7 billion in 2020. Moreover, the number of proteomics studies published annually crossed 14,000 in 2019, up from just 2500 in 2001. These investments are fueling the adoption of protein sequencing as it provides vital insights into protein pathways, interactions, and disease biomarkers to advance proteomics research. Growth of the biopharmaceutical sector: is propelling the demand for protein sequencing. The biopharma market has witnessed rapid expansion in recent years, reaching over US$ 290 billion in 2021. Biologics accounted for over 30% of new drug approvals in 2021. As protein sequencing is critical for biopharmaceutical R&D and manufacturing, its growth is fueled by the rise of biologics. Protein sequencing aids in developing biologics like monoclonal antibodies, identifying drug targets, and ensuring drug safety and quality.
• Technological advances in protein sequencing methods: Technological advances in protein sequencing methods are driving their increased adoption. Market Players have introduced mass spectrometry platforms like the timsTOF fleX that enable 4D proteomics with higher resolution, mass accuracy, and sequencing speeds. Similarly, novel Edman sequencers offer automated N-terminal degradation and analysis. These advances allow deeper proteome coverage, detection of PTMs, and real-time, high-throughput sequencing to benefit research.
• The emergence of personalized medicine: The emergence of personalized medicine and increasing focus on targeted therapies are fueling the use of protein sequencing. Sequencing helps identify unique protein biomarkers that allow the development of personalized diagnostics and treatments tailored to individuals. Moreover, knowledge of mutant protein sequences guides the design of targeted therapies against them. Protein sequencing thus underpins precision diagnostics and medicines.

Protein Sequencing Market Opportunities:

• Significant growth opportunities exist in emerging economies: Significant growth opportunities exist in emerging economies due to expanding R&D and biopharma investments. Emerging markets like China, India, and Brazil are ramping up investments in life science research and drug development. This creates substantial opportunities for protein sequencing equipment and services to support proteomics projects and biologics advancement in these high-growth markets.
• The rising adoption of next-generation sequencing: The rising adoption of next-generation sequencing is opening immense opportunities in the global protein sequencing market. Next-generation sequencing (NGS) allows high-throughput sequencing of biomolecules like DNA and RNA, and enables sequencing of entire genomes and proteomes at an unprecedented scale and speed. Compared to traditional Sanger sequencing, NGS platforms have significantly reduced the time and cost of sequencing. For instance, according to the National Human Genome Research Institute (NHGRI), the sequencing cost per genome has dropped from US$3 billion in 2001 when the human genome was first sequenced, to just US$600 in 2020. This cost reduction has made NGS technologies affordable for widespread use in proteomics research.
• Advances in sequencing technologies: Advances in sequencing technologies offer a great opportunity for growth in the global protein sequencing market. Next generation sequencing platforms now allow for fast, inexpensive and accurate sequencing of entire genomes as well as protein-coding regions. Technologies such as nanopore sequencing and sequencing by synthesis have greatly increased sequencing throughput and speed. Where previously it took weeks to sequence a single genome, now an entire human genome can be sequenced in a single day for a fraction of the previous cost. This has made genomic and proteomic analysis far more accessible for scientific and medical research.
• Growth of large-scale proteomics projects: Growth of large-scale proteomics projects provides opportunities for protein sequencing. Initiatives like the Human Proteome Project and the 100K Pathogen Genome Project increase interest in high-throughput, comprehensive protein sequencing to characterize proteomes. This provides growth avenues for analytics companies.

Protein Sequencing Market Trends:

• The growing adoption of mass spectrometry for protein sequencing: The growing adoption of mass spectrometry techniques for protein sequencing is having a significant influence on the global protein sequencing market. Mass spectrometry has emerged as a powerful analytical tool that enables rapid, precise and sensitive characterization and identification of proteins from complex biological samples. It allows sequencing proteins de novo without relying on genomic database searching, thereby increasing the scope of proteome coverage. This rising adoption can be evidenced from protein research publications data. According to recent statistics from the United States National Library of Medicine, the number of research articles featuring the terms "mass spectrometry and protein sequencing/characterization" has grown by over 35% from 2020 to 2022.
• Companies are increasingly focusing on developing integrated, automated sequencing systems. For instance, in March 2022, Thermo Fisher Scientific, a biotechnology company, launched the CE-IVD marked Ion Torrent Genexus Dx Integrated Sequencer, an automated, next-generation sequencing (NGS) platform that delivers results in as little as a single day. Designed for use in clinical laboratories, the fully validated system enables users to perform both diagnostic testing and clinical research on a single instrument.
• Use of bioinformatics tools and AI: Use of bioinformatics tools and AI for sequence analysis is rising given the vast data generated from high-throughput techniques. Software platforms like Protein Metrics' Byos allow automated, real-time protein identification from mass spec data. Sophisticated algorithms for de novo sequencing and PTM characterization also continue advancing.
• There is growing adoption of microfluidics and nanoPOTS: There is growing adoption of microfluidics and nanoPOTS for protein sequencing. Microfluidic chips allow sequencing from tiny samples, integrating sample prep and analysis. Nano- Plotter systems automate sample deposition for high-throughput Edman sequencing. These provide greater efficiency and flexibility.

Protein Sequencing Market Restraints:

• High costs of protein sequencing instruments and services: High costs of protein sequencing instruments and services constrain market growth, especially across price-sensitive emerging markets. Advanced mass spec systems like the timsTOF fleX cost over US$500,000. Even outsourced sequencing services can be expensive for academic researchers with limited budgets. This impedes adoption outside well-funded institutes and companies.
• The need for specialized personnel to operate advanced protein sequencing platforms: The need for specialized personnel to operate advanced protein sequencing platforms also limits their adoption. Expertise is required for tasks ranging from sample preparation to data analysis. Lack of qualified personnel increases reliance on service providers. Training programs for sequencers can help address this gap.
• Technical limitations of existing techniques in terms of throughput and depth of coverage: Technical limitations of existing techniques in terms of throughput and depth of coverage continue to restrain applications. Edman sequencing is low-throughput and provides only N-terminal information. Mass spec analysis of whole proteins remains challenging. Such issues limit comprehensive characterization of complex proteomes.

Figure 2. Global Protein Sequencing Market Share (%), by Technology, 2023

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Recent Developments:

New product launches:

• On June 05, 2023, Bruker Corporation, an American manufacturer of scientific instruments announced transformative sensitivity on the 4D-Proteomics timsTOF platform with the launch of the new timsTOF Ultra mass spectrometer. It incorporates a new Captive Spray Ionization (CSI) Ultra ion source with larger capillary and optimized vortex gas flow, a novel 4th-generation TIMS (trapped ion mobility separation) XR cell and 14bit digitizer.
• In December 2022, Quantum-Si Incorporated, a protein sequencing company, announced the commercial availability of Platinum, the world’s first next-generation single-molecule protein sequencing platform
• In June 2020, Agilent Technologies, a global company announced that the company has introduced 6560 Ion Mobility Q-TOF LC/MS system for biopharma applications. It enables enhanced protein characterization.

Acquisition and partnerships:

• On October 17 2023, Thermo Fisher Scientific Inc., the world leader in serving science, and Olink Holding AB, a leading provider of next-generation proteomics solutions, announced that their respective boards of directors have approved Thermo Fisher’s proposal to acquire Olink for US$ 26.00 per common share in cash, representing US$ 26.00 per American Depositary Share (ADS) in cash.
• On January 05, 2023, QIAGEN, a provider of molecular testing solutions announced an exclusive strategic partnership with California-based population genomics leader Helix to advance companion diagnostics for hereditary diseases. Under the agreement, QIAGEN will be the exclusive marketing and contracting partner in the U.S. for Helix’s companion diagnostic services. The partnership will leverage the Helix® Laboratory Platform, which was granted the first-ever U.S. Food & Drug Administration de novo class II authorization for a whole exome sequencing platform.
• In January 2022, Illumina, Inc., a biotechnology company announced it has entered into a definitive co-development agreement with SomaLogic to bring the SomaScan Proteomics Assay onto Illumina's current and future high throughput next-generation sequencing (NGS) platforms. This partnership accelerates the rapidly growing high throughput sector of the proteomics market. With the scale and speed of Illumina NGS technology, researchers can more effectively and efficiently make biological connections from genetic sequence (genotype) to cellular function (phenotype) and accelerate opportunities for clinical impact.

Top companies in Protein Sequencing Market:

• Agilent Technologies
• Thermo Fisher Scientific
• SGS S.A.
• Shimadzu Corp
• Waters Corp.
• Bio-Rad Laboratories
• Bruker Corporation
• Charles River Laboratories
• Selvita
• Rapid Novor Inc.

Definition: Protein sequencing is the analytical process of determining the linear amino acid sequence of a protein. It provides vital information about the protein's structure, post-translational modifications, function, and interactions. The key technologies used are Edman degradation, mass spectrometry, and others. Protein sequencing has applications in academic research to study biological pathways, clinical diagnosis for detecting variations, biopharmaceutical development and quality control, forensics, and food analysis. With growth in proteomics and genomics research, investments in biopharma, and technological advances, the protein sequencing market is poised for strong growth.