by Protein sequencing is a technique used to determine the amino acid sequence in the protein. It provides information about the protein’s structure and function. Proteins are an important component of living cells and are responsible for most of the processes essential to life. Proteins are continuously being added and removed in cells and body fluids based on the body’s needs and state. Protein sequencing helps in analyzing these changes and detecting proteins associated with various diseases and cancers at an early stage. This leads to targeted and personalized treatment approaches.
The global Protein Sequencing Market is estimated to be valued at US$ 1.9 billion in 2023 and is expected to exhibit a CAGR of 30% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Opportunity:
The rise in personalized medicine and precision medicine has opened up opportunities for protein sequencing. Personalized medicine uses an individual’s genetic profile to guide decisions made regarding prevention and treatment of diseases. Protein sequencing aids in developing personalized treatment plans taking factors like individual genetic variations, lifestyle choices and environment into consideration. This improves treatment efficacy and safety. Identification of specific proteomic biomarkers through protein sequencing allows for early disease diagnosis and selection of suitable medications and dosages tailor made for each individual. The growing adoption of personalized healthcare approaches is expected to drive significant growth of the protein sequencing market over the forecast period.
Porter’s Analysis:
Threat of new entrants: The protein sequencing market requires high R&D investment and stringent regulatory norms which acts as a barrier for new entrants.
Bargaining power of buyers: The presence of many established players leaves less bargaining power to buyers. However, customized solutions demand can slightly increase buyer power.
Bargaining power of suppliers: Due to specialized technology and intellectual property rights, suppliers enjoy strong bargaining power in the form of high switching costs.
Threat of new substitutes: There are limited substitute technologies available for protein sequencing currently. However, continuous innovations may lead to new substitutes.
Competitive rivalry: The protein sequencing market is highly competitive due to the presence of established global players. Price wars and new product launches are common.
SWOT Analysis:
Strengths: Protein sequencing helps in drug discovery, disease diagnostics and customized nutrition. Advance technologies like mass spectrometry provides faster and accurate protein sequencing.
Weaknesses: High costs of instruments, data storage and analysis makes it inaccessible for small labs and developing regions. Low throughput is also a concern.
Opportunities: Untapped developing markets, multi-omics approch, increased proteomics research worldwide will boost demand. Expanding applications in precision medicine offer growth prospects.
Threats: Stringent regulations, intellectual property theft, and unstable commodity prices can negatively impact the market. Emerging alternative technologies also pose threats.
Key Takeaways:
The Global Protein Sequencing Market Demand is expected to witness high growth due to expanding applications in drug discovery, disease diagnosis and precision medicine. The market size for protein sequencing is forecasted to reach US$ 1.9 Bn by 2024.
Regionally, North America dominates the global protein sequencing market currently due to presence of major players, stringent regulatory framework and high healthcare spending. However, Asia Pacific region is expected to witness the highest CAGR during the forecast period owing to growing research investment, low material costs and improving capabilities in China, India and Japan.
Key players operating in the protein sequencing market are Stratasys Ltd., 3D Systems Corporation, HP Inc., General Electric Company, Materialise NV, Proto Labs Inc., Voxeljet AG, ExOne Company, Autodesk Inc., Siemens AG, EOS GmbH, Renishaw plc, SLM Solutions Group AG, Carbon Inc., Desktop Metal Inc. These companies are investing in developing advanced desktop 3D printers with multi-material printing capabilities for various applications.
Note:
Source: Coherent Market Insights, Public sources, Desk research
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