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15

Jun-2022

Global Proteomics Market Size Is Estimated To Be Growing At A CAGR of 11.82% From 2022 To 2027

North America led the proteomics market in 2021.

The global proteomics market is estimated to grow at a CAGR of 11.82% during the forecast period. As a result, the market is expected to reach USD 34.21 billion by 2027 from USD 19.57 billion in 2022. 

COVID-19 pandemic has had a variety of effects on the various sector of healthcare, and it has also had an impact on the proteomics market. However, the pandemic has had a chiefly positive effect on the market as scientists have been trying to study the 3D structure of the severe acute respiratory syndrome coronavirus 2 (SARS-CoV-2) proteins. Understanding the system, characterization, and interactions of the proteins helps develop effective medication for diseases; the proteomics diagnostics were a great help during the pandemic. 

The increasing research & development activities in the study of proteomes and the supportive government policies & investments by the private organizations are driving the market growth. Furthermore, the developments in biomarker identification and mass spectrometry studies based on proteomics, along with the development of protein biochips & pharmacoproteomic and protein-based molecular diagnostics, will support the market.

The technological advancements in the healthcare sector are supporting market growth. These advancements with the expanding popularity of personalized medicine are expected to provide lucrative growth opportunities for market growth. An example of the investments in the field is when the Novo Nordisk Foundation provided a grant of up to $1.5 million to the students of the University of Copenhagen to establish a mass spectrometry facility. 

An increment in genetic disorders and cancer cases worldwide propels the proteomics market.

Several notable discoveries in life sciences have been made in the last decade, one of which is the completion of human genome sequencing. The characterization of human protein, a relatively new and highly dynamic discipline of study focusing on evaluating gene expression at the proteome level, was the next significant biomedical milestone. Current proteomics deals with challenges such as protein identification, quantification, characterization of post-translational modification, structure and function elucidation, and description of putative interactions due to the little research done in the field to date. With increased monetary and technical research efforts, the discipline of proteomics is projected to encompass technologies that may be used for serum and tissue samples to understand them better.

High costs of instruments hinder the growth of the proteomics market.

Companies rely on publicly available structural data and trial-and-error procedures to find the chemicals that stimulate or disable target proteins. Protein structure is achieved using high-throughput techniques and machinery. For example, Gene cloning, protein expression, purification, and crystallization of proteins are all done using X-ray crystallography, one of the most extensively used procedures in proteomics. However, these procedures necessitate a substantial number of laboratory hours, raising the cost of testing per sample. Because of the high price of instruments and reagents, developing nations find it difficult to enter the field of proteomics. In addition, the low rates of professionals in the field of proteomics could be a barrier to the market's growth.

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KEY MARKET INSIGHTS:

  • Based on reagents, the immunoassay reagents segment held the highest proportion of the market in 2020. The availability of a wide range of reagents and the necessity for reliable, specific, and quick disease detection at an early-stage account for the substantial share of this category.
  • Based on the application, Clinical diagnostics is the most significant application in the industry as it helps understand protein expression for the effective diagnosis of diseases and drug development. Further, the proteomics market has an important role in cancer research, and the segment is expected to grow during the forecast period.
  • North America held the largest share of the global proteomics market in 2020 and is expected to continue growing during the forecast period. The reasons for this domination of the region are the growing research in the field of omics, increasing investments in the advancement of structure-based drug design, increased demand for high-quality research tools for data reproducibility, and the presence of the critical number of global players along with the growing emphasis on personalized treatments in countries like the U.S. and Canada.
  • Europe is expected to have a growing CAGR during the forecast period. The growth is attributed to the increasing government initiatives and research activities by key pharmaceutical companies in countries like the U.K., France, Germany, Italy, etc.
  • The Asia -Pacific region is estimated to have a CAGR of 15.6% and show growth in the market due to the prevalence of chronic diseases and increased interest in research and utilization of proteomics diagnostics and treatment. As a result, countries like India, china, japan, and South Korea are expected to grow.
  • There are several companies and organizations in the market of proteomics. Here are a few key market players, Agilent Technologies, Bruker Corporation, Danaher Corporation, Merck KGaA, Bio-Rad Laboratories, Thermo Fisher Scientific Inc., PerkinElmer Inc., Waters Corporation, Ilumina, Eurofins Scientists, Creative Proteomics, Promega Corporation, QIAGEN Bioinformatics, Biomax Informatics AG, WuXi NextCODE, Fios Genomics, GENEWIZ, Biognosyns AG, Integrated Proteomics Applications, Poochon Scientific, Proteome Factory AG, VProteomics, Applied Bionics, etc.

This report can be customized as per the requirements; talk to our team @ https://www.marketdataforecast.com/market-reports/proteomics-market/customization

 

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WRITTEN BY: Market Data Forecast

Market Data Forecast