Direct Answer
Proteomics companies build instruments and assays that measure proteins in blood, tissue and cells for research and diagnostics. The field is earlier than genomics, with revenue from instruments, kits and services sold to research labs and drugmakers.
Industry Overview
Proteomics sits within the health care sector. The first numbers to compare across companies here are instrument installed base, consumables revenue per instrument and gross margin. The outside forces that move them are listed under Primary Macro Drivers.
Key Industry Metrics
- Instrument installed base: Number of protein analysis instruments placed with labs. Each machine supports ongoing reagent and service sales, so placement growth shows adoption in a newer field.
- Consumables revenue per instrument: Average kit and reagent sales per installed machine, showing how intensively labs use it. Rising figures suggest deeper use, while falling ones point to idle instruments.
- Gross margin: Share of sales left after cost of instruments, assays and service. Early-stage manufacturing scale often holds margins down, with improvement as volumes and consumables mix grow.
- Backlog and customer count: Contracted orders not yet shipped and the number of buyers. A growing backlog suggests demand, while customer count shows whether adoption is broadening or relies on a few labs.
- Research and development spending: Funds put into new instruments and assays. In a field still developing, high spending is expected, so compare it with revenue growth and cash on hand.
Primary Macro Drivers
- Academic and biotech research budgets: Labs buy instruments and kits out of research budgets, so changes in academic and biotech spending move installed base growth and consumables sales.
- Biomarker discovery needs: Drug developers need markers to select patients and track response, which supports orders for protein measurement tools and services.
- Advances in mass spectrometry and affinity methods: Better instruments measure more proteins at once, which raises the value per sample and can expand the number of studies customers run.
- Falling cost per protein measured: If measuring a protein gets cheaper, studies can be larger, which lifts sample volume and consumables revenue though price per measurement falls.
Major Risks
- Research funding cyclicality: Academic and biotech spending moves with grants and funding markets, so a slowdown delays instrument orders and kit use; watch backlog and customer count.
- Competition from incumbents: Large established tool makers can bundle and discount, limiting share gains for newer firms; watch gross margin and new installed base.
- Technology adoption pace: Labs adopt new methods slowly while they validate them, which delays revenue; watch installed base growth and consumables per instrument.
- Cash burn at early companies: Early companies spend more than they earn, so weak funding forces dilution or cuts; watch cash runway and operating spending.
Industry Characteristics
| Characteristic | Profile |
|---|---|
| Cyclicality | Mixed |
| Capital Intensity | Medium |
| Regulatory Intensity | Low |
| Industry Maturity | Emerging |
| Geographic Importance | Global |
Companies Associated with Proteomics
The SEC's Standard Industrial Classification has no code that describes proteomics as a group, so there is no complete list of its filers. The companies below come from Swoopr's SEC dataset and have operations in or next to the industry. Each is classified by the SEC under its own main business.
| Company | SEC classification | Revenue | Growth | Net margin | Year |
|---|---|---|---|---|---|
| Thermo Fisher Scientific Inc. | Measuring & Controlling Devices, Nec | $44.6 billion | 3.9% | 15.1% | FY 2025 |
| Quanterix Corp | Laboratory Analytical Instruments | $139 million | 1.1% | -77.2% | FY 2025 |
| Seer, Inc. | Laboratory Analytical Instruments | $17 million | 17.0% | -444.0% | FY 2025 |
Source: each company's own annual report as filed with the SEC (XBRL data), figures in U.S. dollars. Listing here describes a business relationship to the industry, not a recommendation. To find more companies, use the company directory and the health care hub.
Where to Go Next
The Proteomics guide describes how the industry earns money, what to measure and what can go wrong. To see how it compares, read the neighbouring industries in the same sector, then apply the same checks to a specific company.
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Frequently Asked Questions
What are the main KPIs for the Proteomics industry?
Key performance indicators for the Proteomics industry include: Instrument installed base, Consumables revenue per instrument, Gross margin, Backlog and customer count, Research and development spending. Which matter most depends on the company's model, so compare them across several companies rather than relying on one.
How cyclical is the Proteomics industry?
The Proteomics industry exhibits mixed cyclicality characteristics. Some segments move with the broader economy while others maintain more stable demand, making stock selection within the group particularly important.
What are the biggest risks in the Proteomics industry?
The primary risks for Proteomics companies include: Research funding cyclicality, Competition from incumbents, Technology adoption pace, Cash burn at early companies. Investors should assess each company's exposure to these factors and its track record of navigating them.