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

Regional Analysis

• North America: U.S. and Canada
• Latin America: Brazil, Argentina, Mexico, and Rest of Latin America
• Europe: Germany, U.K., Spain, France, Italy, Russia, and Rest of Europe
• Asia Pacific: China, India, Japan, Australia, South Korea, ASEAN, and Rest of Asia Pacific
• Middle East & Africa: GCC Countries, Israel, South Africa, North Africa, and Central Africa and Rest of Middle East

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.