According to the report, the global proteomics market was pegged at $24.36 billion in 2017 and is projected to reach $72.44 billion by 2025, registering a CAGR of 14.5% from 2018 to 2025.
Rise in popularity of personalized medicines, surge in R&D expenditure, and rapid technological advancements associated with proteomics components have boosted the growth of the global proteomics market. However, high costs associated with proteomics components and dearth of skilled professionals hamper market growth. On the contrary, developments in mass spectrometry-based proteomics and opportunities associated with biomarker identification are expected to propel the growth of the market.
The global proteomics market is segmented on the basis of component, application, and geography. Based on component, the market is divided into instruments, reagents, and services. The reagent segment held the largest share in 2017 and is estimated to grow at a CAGR of 14% during the study period. However, the instrument segment is estimated to manifest the fastest CAGR through 2025. The other segments are also expected to register a gradual growth. The reagent segment is further segmented into microarray, spectroscopy, X-ray crystallography, chromatography, electrophoresis, immunoassay, and protein fractionation reagents. The instruments segment is further divided into microarray, spectrometry, X-ray crystallography, chromatography, electrophoresis, surface plasmon resonance, and protein fractionation reagents.
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On the basis of application, the market is bifurcated into drug discovery, disease diagnosis, and others. The drug discovery application segment held the largest share in 2017, contributing nearly three-fifths of the total market. The other segments are also expected to show gradual growth during the forecast period.
Based on region, the market is segmented into North America, Europe, Asia-Pacific, and LAMEA. The market across North America held the largest market share in 2017, contributing nearly two-fifths of the total market, owing to rise in popularity and adoption of personalized medicines and favorable government funding & initiatives to develop novel therapeutics. Additionally, the market across the U.S. held the largest share in 2017. However, the market across Asia-Pacific regions is expected to manifest CAGR of 16.8% during the forecast period, owing to increase in prevalence of chronic diseases and rise in interest of researchers to use proteomics in disease diagnosis & treatment.
The report includes in-depth analysis of the major market players including Danaher Corporation, Agilent Technologies Inc., PerkinElmer, Inc., LI-COR, Inc., HORIBA, Ltd., Thermo Fisher Scientific, Inc., Bruker Corporation, Bio-Rad Laboratories, Inc., Waters Corporation, and General Electric (GE).
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