Protein Sequencing Market Size to Hit Around USD 1.91 BN by 2030

The global protein sequencing market was surpassed at USD 1.4 billion in 2021 and is expected to hit around USD 1.91 billion by 2030, growing at a CAGR of 3.51% from 2022 to 2030.

Report Highlights

• The protein sequencing products segment led the market with a share of over 80.07% in 2021. 
• The bio-therapeutics segment captured the largest share of over 55.02% in 2021.
• The academic institutes and research centres segment held the largest share of over 45.11% in 2021. 
• North America held the largest revenue share of over 35.21% in 2021. 

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The increasing research in genomics and proteomics, coupled with the rising demand for protein-based therapeutics around the world, is contributing to the demand for protein sequencing. For instance, in May 2022, Amphista Therapeutics announced a collaboration with Bristol Myers Squibb for discovering and developing small-molecule protein degraders. Bristol Myers Squibb is expected to receive an exclusive license to manufacture and commercialize the product. Hence, the rising demand for protein degradation is anticipated to extend the application scope for protein sequencing.

Increasing funding and grants for biomedical R&D by governments and major companies are anticipated to have a significant impact on the usage of sequencing. As per a WHO report published in January 2022, in 2019, approximately 80,178 grants were awarded to biomedical research from 11 funders. Out of those, 69.4% of grants were assigned for research, while 19.5% were for training purposes. Moreover, approximately 75% of the overall grants were awarded to organizations in the U.S. Federal funding in the U.S. has created the demand for protein sequencing from end-users.

Similarly, the usage of recombinant antibodies is growing in the management of rheumatoid arthritis, cancer, and other pathological conditions, which is likely to increase the use of protein sequencing. According to research published in February 2022, the de novo antibody sequencing through mass spectrometry techniques is feasible for numerous complicated clinical samples via endogenous sources including serum. Hence, such research is likely to increase applications of the market in the area of therapeutics.

The COVID-19 pandemic resulted in increased usage of protein sequencing in assessing the components of the COVID-19 virus, along with assessing the changes in the genome post-COVID-19. A study published in September 2022 performed 97,437 COVID-19 protein sequencing to detect non-synonymous mutations in 26 various sequences. This had a positive impact on the global market.

The growing demand for personalized medicine and vaccination is likely to be an essential factor for the market growth since it is an emerging application of the market. For instance, in January 2022, Amgen collaborated with Generate Biomedicines in order to discover and advance protein-based therapeutics for multiple fields. The collaboration is estimated to be valued at around USD 1.9 billion.

On the other hand, advancements in sampling technologies covering proteomes are expected to support the growth of the technique in the proteome market. However, the regulation on intellectual property such as patents on protein sequencing is not formally drafted. For instance, in Australia, a patent on sequencing highly depends on the jurisdiction. The lack of patenting regulations restrains academic institutions to conduct R&D on developing new technologies.

Scope of The Report

Key Market Trends

Protein Engineering Studies is the Segment by Application expected to be Fastest Growing Segment

Protein engineering is the manipulation of the structures of proteins to produce the desired properties or the synthesis of proteins with particular structures. The majority of therapeutic drugs in the current market are bioformulations, such as antibodies, nucleic acid products, and vaccines. The companies are focusing on field in protein engineering for the site-specific conjugation of functional moieties to biopharmaceuticals is the incorporation of unnatural amino acids (uAA). The rapid developments in post-translational engineering and strain development to produce better-defined products, faster approval of biopharmaceuticals can be expected. Furthermore, according to the data published by the Genetics & Protein Engineering Conferences 2018, roughly 3,000 professionals from 60 over universities in the country, currently work on protein engineering. Thus, owing to the rising focus on protein engineering the market is expected to witness high growth.

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Product & Service Insights

The protein sequencing products segment led the market with a share of over 80.07% 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 55.02% 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 45.11% 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 35.21% 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 Players

• 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

Market Segmentation

• By Product & Service Outlook
  • Protein Sequencing Products
    • Reagents & Consumables
    • Instruments
      • Mass Spectrometry Instruments
      • Edman Degradation Sequencers
    • Software
  • Protein Sequencing Services
• By Application Outlook
  • Bio-therapeutics
  • Genetic Engineering
  • Others
• By End-user Outlook
  • Academic Institutes & Research Centers
  • Pharmaceutical & Biotechnology Companies
  • Others
• By Regional Outlook
  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East & Africa

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