The Proteomics Market size in the European region is expected to grow at a CAGR of 11.2% and reach USD 7.11 billion in 2027 from USD 4.18 billion in 2022.
The European proteomics market is expected to be driven by the proliferation of cancer, raising awareness, and protein interactions in cancer. Also, increasing research and development activities and the growing usage of proteomics to research cancer genes are augmenting the market growth. On the other hand, Various market players in the region collaborate with major companies to study the 3d structures and interactions proteins using mass spectrometry. Furthermore, the government and private organizations invest and fund infrastructure development, which is expected to encourage market growth. In addition, the Increasing research and development activities on personalized medicine and drug delivery, which positively impact market growth.
Proteomics has gotten a lot of attention in the recent decade, especially in diagnostics, medication development, and research. It has a wide range of uses, from protein identification to purification and separation to studying the composition and characteristics of the protein. In addition, it has a wide range of uses in detecting protein-related illnesses or diseases in the body. As a result, it's becoming a valuable instrument in the field of life sciences. Over the recent period, the preference for personalized medicine increases the market growth; however, the demand for personalized medicine is witnessing significant growth.
One of the most ongoing developments in studying human genes and proteins has been identifying innovative and effective medicines in the treatment of disease. This research and development method uses genome and proteome data to find proteins linked to an infection, then used software tools as targets for novel medicines.
On the other hand, lucrative opportunities connected with biomarker identification and advancements in mass spectrometry-based proteomics will likely drive the proteome industry forward.
However, government regulations, high drug, and device prices, a shortage of skilled researchers, increased research and development costs, insufficient financing, and a lack of knowledge about proteomics in underdeveloped countries are expected to limit the proteomics market growth in the European region.
This research report on the European Proteomics Market has been segmented and sub-segmented into the following categories:
By Instrument Type:
By Software & Service:
Regionally, the European proteomics market is predicted to account for the second-largest share of the global proteomics market during the forecast period due to the region's substantial government funding. Besides, due to the increasing prevalence of chronic diseases in the area, the region has been an early accepter of new diagnostics and medications. Therefore, it is predicted that microarrays are the key contributors, accounting for approx. 70% of the biochip market, while services contribute only 15%. Presently, only microarrays in protein-based diagnostics provide high-throughput screening. The United Kingdom is the major shareholder, 60% of the business, led by Germany and France.
The German proteomics market dominated the European market in 2020. However, it is likely to witness a significant share in the coming years.
The UK proteomics market is anticipated to witness a considerable share in the proteomic during the forecast period. The market growth is attributed to the rising research increasing spending on the discovery and development of drugs, favorable reimbursement policies, and availability of advanced technology.
On the other hand, the countries such as France, Spain, and Italy are projected to showcase a moderate share in the European proteomics market during the forecast period. Favorable government policies, improving healthcare infrastructure, and increasing collaboration and partnership activities by key players in these regions are expected to expand the market growth.
KEY MARKET PLAYERS:
A few promising companies in the European proteomics market profiled in this report are Agilent Technologies Inc., Bio-Rad Laboratories, Inc., Bruker Corporation, Danaher Corporation, GE Healthcare, and Luminex Merck KGaA, PerkinElmer Inc., Thermo Fisher Scientific, Inc., and Waters Corporation.
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