Market Trends of Protein Sequencing Industry
This section covers the major market trends shaping the Protein Sequencing Market according to our research experts:
Protein Engineering Studies are Expected to Witness a Growth in the Protein Sequencing Market Over the Forecast Period
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 bio formulations, such as antibodies, nucleic acid products, and vaccines. The protein engineering segment is anticipated to witness growth in the market due to the rise in research activities in protein engineering and an increase in funding for developing different products involving proteins. For instance, in October 2022, the Upstate Medical University professor was awarded more than USD 1.5 million from the National Institute of General Medical Sciences for combining protein and DNA engineering. In the study, the researcher is building a few select protein switches that have powerful biological activities and using DNA engineering to turn on those activities by DNA or RNA sequences of choice, such as those from coronavirus or cytomegalovirus.
Similarly, in September 2022, a Chemical & Materials Engineering assistant professor at the University of Nevada, received a grant from the NIH's National Institute on Aging (NIA) to engineer novel enzyme inhibitors (molecules that interact with enzymes that play a role in neurodegenerative disease. The researcher is developing novel enzyme inhibitors using state-of-the-art protein engineering techniques based on a specific protein that will block the enzymes that play a role in neurodegenerative diseases. Hence, such research studies utilizing protein engineering are anticipated to drive market growth over the forecast period. Furthermore, in March 2022, the University of North Texas Department of Biomedical Engineering researcher recently received a USD 1.5 million National Institutes of Health (NIH) Maximizing Investigators' Research Award (MIRA) to study protein and cellular engineering. The new funding allows the researcher the opportunity to discover and design new functions and properties in biological proteins to ultimately generate new biological behavior.
Thus, an increase in research funding and a rise in future opportunities offered by protein engineering is anticipated to drive the segment growth over the forecast period.
North America is Expected to Hold Significant Market Share Over the Forecast Period
North America is expected to hold a significant share of the protein sequencing market owing to rising technological advancements and the presence of better healthcare infrastructure. Also, government and non-government organizations are providing funds to carry out research in the field of proteomics.
Furthermore, company activities by key players in North America are expected to drive market growth over the forecast period. For instance, in January 2023, United States-based Quantum-Si began commercial shipments of the platinum protein sequencing system and provided business updates at the 41st Annual J.P. Morgan Healthcare Conference. The company partnered with Aviva Systems Biology, a provider of antibody, protein, and immunoassay reagent products, to co-develop sample preparation kits for protein sequencing research workflows with Platinum.
Furthermore, in June 2022, Manitoba Government unveiled the release of the Manitoba Protein Research Strategy, a comprehensive research plan that will form the blueprint for the province's ultimate success in this burgeoning market segment. The MPRS highlights 46 strategic research projects under four main themes, including climate resilience of sustainable protein food systems, novel sustainable protein product development and processing, digital agriculture to enable sustainable food systems, and waste, water, by-product, and co-product utilization.
Thus, due to the rise in research funding, and the increase in technological advancements in protein sequencing, North America is anticipated to witness growth in the studied market over the forecast period.
