The Proteomics Market size in the Asia Pacific has been estimated at USD 3.57 billion in 2023. It is projected to reach USD 6.87 billion by 2027, at a CAGR of 14% during the forecast period. The market is driven by growing proteomics-related R&D activities, increasing government and business proteomics support, and enhanced technological innovations for protein purification and extraction.
The term proteome refers to the whole complement of proteins, including the modifications made to a specific set of proteins produced by an animal or a cell framework. Proteomics refers to the complete comprehensive study of proteomes. Proteomics is used to find proteins that cause cancer and other biological illnesses.
Besides, personalized medicine, which has become a significant area of medical science, has penetrated clinical practice in the mainstream and is improving the way most illnesses are diagnosed, categorized, and treated. Therefore, increased demand for personalized medicine is boosting the growth of the region’s proteomics market.
However, there have been some significant restrictions on the market, like the high equipment costs and stringent regulatory standards that make the authorization of the proteomic technology process expensive and extensive. Besides, low funds in the market, U.S. sequestration cuts, lack of assets for research in proteomics, and lack of skilled scientists are other factors challenging the market.
The Asia-Pacific offers several profitable opportunities to increase the proteomics market due to increased demand for drug discovery and advancements in the biotechnology industry. In the last few years, the proteomics market has witnessed rapid growth and development. For example, China launched a human proteome project to encode the human genome and laid the foundation for physiology and pathology.
This research report on the APAC Proteomics Market has been segmented and sub-segmented into the following categories:
By Instrument Type:
By Software & Service:
The APAC is one of the fastest-growing regions in the global proteomics market. The market growth in the region is attributed to the favorable reimbursement policies to promote research and development activities in proteomics, genomics, and bioinformatics. In addition, the government is taking initiatives to develop the healthcare infrastructure in the region. For instance, the 13th International Conference on Proteomics, Genomics, and Bioinformatics was held in 2019 in Tokyo, Japan. 'Leading Edge Innovations in Life Sciences was the subject of the conference. The objective will be to look at current advances and novel techniques that may be used to research to enhance proteomics and bioinformatics. The major growth contributors in the region are China, India, and Japan.
The Chinese proteomics market dominated the APAC market in 2022. The market growth is driven by a rising preference for personalized medicine, increasing investment and funding by the pharmaceutical and biotechnology companies. In addition, over the years, China witnessed technological advancements in the healthcare sector and proteomics, augmenting the market growth.
On the other hand, the Indian proteomics market will witness a promising share during the forecast period. Improving the healthcare sector, supportive government initiatives, and the prevalence of genetic diseases are fuelling the market growth. Moreover, the availability of funds government for research and development activities is encouraging the proteomics market growth.
KEY MARKET PLAYERS:
Agilent Technologies Inc., Bio-Rad Laboratories, Inc., Bruker Corporation, Danaher Corporation, GE Healthcare, Luminex Corporation, Merck KGaA, PerkinElmer Inc., Thermo Fisher Scientific, Inc., and Waters Corporation are currently playing a leading role in the APAC proteomics market.
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