Growing trend of personalized medicine is a key factor projected to support growth of proteomics market.
New York, December 23,2021 – The global proteomics market is expected to reach a market size of USD 65.91 billion by 2028 and register a high CAGR during the forecast period, according to a new report by Reports and Data.
The proteomics market is witnessing increased revenue growth due to the growing popularity of personalized medicines, advancements in technology, and rise in research & development expenditure and initiatives. A key driving factor is the rising trend of personalized medicine. Biotechnology and pharmaceutical companies have over the years doubled their investment in R&D of personalized medicine. Advancement in proteomics technologies contributed to the development of personalized medicines by enabling detection of proteomics molecular diagnostics, protein biomarkers, pharmacoproteomics, and protein biochips. Personalized medicine is commonly used in cancer treatment.
High cost of proteomics equipment and lack of skilled workforce is a factor hampering growth of the market. However, growth in biomarker identification and advancements in mass spectrometry-based proteomics are expected to provide growth opportunities in the proteomics market. Development of efficient and advanced technologies, rise in genetic and birth disorders, increasing healthcare expenditure, and availability of funds from both public and private sectors will contribute significantly to growth of the market.
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The COVID-19 impact:
The COVID-19 pandemic has spurred growth of the proteomics market. Biopharmaceutical companies are investing significantly in research for the development of SARS-COV-2 vaccine. Researchers are identifying drugs for treatments by using separation and identification techniques to examine both new and existing drugs, which is driving growth of the proteomics market.
Further key findings in the report
- The reagent segment among the product segments accounted for the largest revenue share in 2019. Increasing research activities and growing need for protein separation from complex mixtures for effective analysis is expected to continue to drive revenue growth of this segment.
- Microarray segment dominated other technology segments in terms of revenue share in 2019. Microarray offers label-free detection, full imprint of proteins, and produces vast amounts of information from small samples, which is driving demand for application in biopharmaceutical companies.
- The drug discovery segment revenue is expected to continue to register a robust growth rate due to increasing application of proteomics in identification of toxicity and efficacy from biological fluids and target validation and identification. Identification of new drugs by proteomics is one of the major factors supporting market growth.
- North America accounted for the largest share in the global proteomics market in 2020. Increasing research activities in healthcare, high funding from governments, and rising need for improved healthcare infrastructure are some key factors driving growth of the market.
- Key participants include Agilent Technologies, Inc., Danaher Corporation, Bio-Rad Laboratories, Inc., Thermo Fisher Scientific, Inc., Merck KgaA, PerkinElmer, Inc., Promega Corporation, Waters Corporation, Bruker Corporation, and GE Healthcare.
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For the purpose of this report, Reports and Data has segmented the global proteomics market on the basis of product, technology, application, and region:
Product Outlook (Revenue, USD Billion; 2018-2028)
Technology Outlook (Revenue, USD Billion; 2018-2028)
- X-Ray Crystallography
- Microarray Instruments
- Protein Fractionation Systems
- Surface Plasma Resonance (SPR) Systems
Application Outlook (Revenue, USD Billion; 2018-2028)
- Clinical Diagnosis
- Drug Discovery
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Regional Outlook (Revenue, USD Billion; 2018-2028)
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of APAC
- Saudi Arabia
- Rest of MEA
- Latin America
- Rest of LATAM
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