The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2024 and forecasted to 2033

As per The Business Research Company’s Protein Sequencing Global Market Report 2024, the protein sequencing market is expected to show significant growth in the forecast period.

The protein sequencing market has been experiencing robust growth and is poised for continued expansion in the coming years. This article delves into the key drivers, trends, and projections shaping this dynamic industry.

Market Overview
Recent Growth:

• The market grew from $1.55 billion in 2023 to $1.70 billion in 2024, at a CAGR of 9.8%.
• Key drivers include:
  • Research demand
  • Medical diagnostics
  • Pharmaceutical development
  • Agricultural applications
  • Forensic analysis
  • Biomarker discovery
  • Genetic evolution studies

Future Projections:

• Expected to grow to $2.51 billion by 2028, at a CAGR of 10.2%.
• Anticipated growth drivers include:
  • Clinical genomics integration
  • Expanded agricultural genomics
  • Drug safety and pharmacogenomics
  • Prenatal and newborn screening
  • Environmental DNA analysis

View More On The Protein Sequencing Market Report 2024 – https://www.thebusinessresearchcompany.com/report/protein-sequencing-global-market-report

Key Trends in the Forecast Period
Next-Generation Sequencing:

• Growing demand for next-generation sequencing technologies.
• These advanced technologies offer greater accuracy and efficiency in protein analysis.

Clinical Diagnostics:

• Increasing applications in clinical diagnostics.
• Protein sequencing helps in identifying disease-specific biomarkers, aiding in early diagnosis and treatment planning.

Genomics Research Investments:

• Rising investments in genomics research.
• Significant funding is directed towards developing new sequencing technologies and applications.

Personalized Medicine:

• Expanding use in personalized medicine.
• Protein sequencing enables tailored treatment plans based on individual genetic profiles.

Impact of Genetic Illness on Market Growth
Rising Genetic Illness:

• The increase in genetic illnesses is propelling market growth.
• Genetic illnesses arise from DNA mutations, which can be spontaneous or inherited.

Role of Protein Sequencing:

• Identifies specific genetic variants responsible for diseases.
• Helps in discovering protein biomarkers indicative of disease states.

Statistics:

• In the UK, approximately 30,000 children are newly diagnosed with genetic conditions annually.
• Over 2.4 million individuals live with genetic conditions, driving demand for advanced diagnostic tools.

Major Players in the Market
Leading Companies:

• 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

Technological Advancements:

• Companies are developing advanced sequencing kits.
• Example: Quantum-Si’s Protein Sequencing Kit V2, launched in February 2024, offers enhanced sequencing performance and cost-efficiency.

Strategic Acquisitions
Thermo Fisher Scientific’s Acquisition of Olink Holding AB:

• Acquired Olink Holding AB in October 2023 for $3.1 billion.
• Enhances Thermo Fisher’s capabilities in proteomics, complementing its existing life sciences and mass spectrometry offerings.

Market Segmentation
Product and Service:

• Protein Sequencing Products
• Protein Sequencing Services

Application:

• Bio-Therapeutics
• Genetic Engineering
• Other Applications

End Users:

• Pharmaceutical and Biotechnology Companies
• Other End Users

Regional Insights
North America:

• The largest region in the protein sequencing market in 2023.

Europe:

• Expected to be the fastest-growing region during the forecast period.

Conclusion
The protein sequencing market is on a trajectory of significant growth, driven by advancements in technology, rising genetic illness diagnoses, and increasing applications in various fields. With key players innovating and strategic acquisitions enhancing capabilities, the market is set to expand rapidly, offering new opportunities for research, diagnostics, and personalized medicine.

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