Market Challenges And Opportunities
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 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.
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