Global Proteomics Market Set to Reach $39.03 Billion by 2023, Fueled by Advancements in Drug Discovery and Disease Diagnosis

DUBLIN, Nov. 3, 2023 /PRNewswire/ — The “Global Proteomics Market (by Product, Application, Technology, End User, & Region): Insights and Forecast with Potential Impact of COVID-19 (2022-2027)” report has been added to ResearchAndMarkets.com’s offering.

The global proteomics market is poised for significant growth, with a projected value of US$39.03 billion by 2023, reflecting an impressive compound annual growth rate (CAGR) of 25% during the forecast period from 2022 to 2027.

Proteomics, the study of proteins encompassing their structure, function, and expression, plays a crucial role in comprehending the functions and interactions of an organism’s entire protein repertoire. Moreover, it contributes to the discovery of prognostic indicators and diagnostic tools for infectious diseases such as malaria and cancer. Additionally, the pharmaceutical sector relies on proteomics to identify and validate biomarkers, as well as investigate the mechanisms of therapeutic action and toxicity.

The proteomics market’s growth is expected to be driven by technological advancements, increased research funding, rising healthcare expenditures, a growing demand for personalized treatments, and higher rates of genetic disorders.

Segment Coverage

By Product: The global proteomics market is segmented into three primary categories by product: Reagents, Instruments, and Services. The reagents segment holds the majority of the market share, driven by the extensive use of reagents, consumables, kits, chemicals, and strips for analyzing various biological samples in academic institutions, research labs, and other settings. This segment is also expected to grow at a significant CAGR in the future due to technological advancements in advanced instruments such as 2-D electrophoresis protein analyzers.
By Application: The market report divides the global proteomics market into three segments based on application: Drug discovery, Disease diagnosis, and Others. The drug discovery segment accounts for the majority of the market share due to developments in structure-based drug design, a greater emphasis on personalized drug creation, and increased investments in these areas. The drug discovery segment is also expected to exhibit the highest CAGR in the future, as proteomics technologies offer early insights into drug discovery programs, saving pharmaceutical companies significant capital and benefiting patients and healthcare systems.
By Technology: The report further segments the global proteomics market into seven categories based on technology: X-Ray crystallography, Surface Plasmon Resonance, Protein Fractionation, Electrophoresis, Protein Microarrays, Spectroscopy, and Chromatography. The Protein Microarrays segment dominates the market due to its high utilization in tracking protein interactions more efficiently than other technologies. This segment is also predicted to experience the highest CAGR in the future, driven by its cost-effectiveness and labor-intensive nature.
By End Users: According to end users, the global proteomics market is divided into five segments: Pharmaceutical companies, Hospitals, Clinical laboratories, Academic research laboratories, and Others. Pharmaceutical companies lead the market with the highest share, owing to increased investments in research and development (R&D) in genomics and proteomics. Academic research laboratories are expected to have the highest CAGR in the future, supported by growing government support for clinical research projects.

Geographic Coverage

The global proteomics market is analyzed across four major regions: North America, Asia Pacific, Europe, and the Rest of the World (RoW). North America encompasses the US, Canada, and Mexico, while Europe includes Germany, UK, France, Italy, Spain, and the Rest of Europe.

Additionally, Asia Pacific comprises China, Japan, India, and the Rest of Asia Pacific. The North America proteomics market holds the largest market share, primarily due to the increasing adoption of personalized medicine and favorable government funding and initiatives to develop innovative therapeutics.

The US remains a prominent region within the North America proteomics market, driven by rising awareness and utilization of proteomics and technological advancements that significantly contribute to regional market growth.

Top Impacting Factors

Growth Drivers:

Rising Prevalence Of Cancer And Associated Genetic Disorders: Increasing incidences of cancer and genetic disorders are driving the demand for proteomics research, leading to the growth of the market.
Faster Turn-around Times (TAT): Proteomics technologies enable faster turn-around times in diagnostics and drug discovery, facilitating quicker patient management and pharmaceutical development.
Growth in Investments in Biotech Companies: Increased investments in biotech companies, particularly during the COVID-19 pandemic, have supported the development of the proteomics market.
Increased Investments in R&D in the Field of Proteomics: Research and development activities in proteomics have witnessed significant investments, driving innovation and market growth.

Challenges:

Dynamic Range: The dynamic range of proteomics analysis, which involves accurately measuring the concentration of proteins across a wide range, poses a challenge for researchers and instrument developers.
High Cost Of Instruments: The high cost of instruments and reagents used in proteomics can limit the accessibility of this technology in developing countries and increase overall treatment costs.

Trends:

Artificial Intelligence in Proteomics: Artificial intelligence (AI) is making significant contributions to proteomics research by optimizing various stages of the analytical pipeline, enhancing drug discovery, and simplifying the analysis of complex protein interactions.
Surge in Drug Discovery: Proteomics technologies are increasingly being used to accelerate drug discovery processes, leading to the development of novel therapeutic agents.
Emerging Method: High-Plex Proteomics: High-plex proteomics methods that allow the simultaneous measurement of a large number of proteins are gaining prominence, enabling comprehensive insights into complex biological systems.
Increasing Prominence Of Nanoproteomics: Nanoproteomics is gaining traction as a specialized approach for studying proteins at the nanoscale, providing new insights into cellular processes and disease mechanisms.

The COVID-19 Impact

The COVID-19 pandemic temporarily disrupted some clinical studies worldwide, but it also generated significant demand for proteomics services. Advanced mass spectrometry technologies were utilized in 2020 to identify proteins unique to COVID-19. Despite pandemic-related challenges, the proteomics industry experienced positive growth during this period.

Analysis of Key Players

The proteomics market is characterized by a concentration of a few major players that dominate the global landscape. Key players in the market include:

Bio-Rad Laboratories, Inc.
Thermo Fisher Scientific Inc.
Danaher Corporation
Agilent Technologies
PerkinElmer, Inc.
Bruker Corporation
Illumina Inc.
Waters Corporation
DiaSorin SpA (Luminex Corporation)
Promega Corporation
Horiba, Ltd.

For more information about this report visit https://www.researchandmarkets.com/r/6gl4a1

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