What? When? Why?
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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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