The size of the Middle East and Africa Proteomics market is estimated to be worth USD 2.60 billion by 2028 from a market value of USD 1.70 billion in 2023, growing at a CAGR of 8.89% from 2023 to 2028.
The proteomics market is majorly driven by the increasing research and development activities in personalized and drug delivery. As a result, the major players in the region are significantly investing in research and development activities which are expected to influence the market growth positively.
In addition, the pharmaceutical and biotechnology companies are adopting R&D activities for better results.
Other factors such as the increasing prevalence of cancer, rising R&D, and growing usage of proteomics to research cancer genes are fuelling the market growth. Moreover, increasing investment and funding by the government and private organizations to develop healthcare infrastructure in the region is accelerating market growth. Additionally, using mass spectrometry, several market participants in the region collaborate with big firms to investigate the 3d structures and interactions of proteins.
On the other hand, technological advancements in nanotechnology have been linked to a variety of proteomics applications. A few examples are phosphoproteomics/metal oxide nanoparticles, nanostructured surfaces for protein separation, and array techniques for biomarker protein detection. Nanoproteomics, a science incorporating proteomics techniques assisted by nanotechnology, has emerged due to this.
Identifying innovative and effective medications in treating sickness is one of the most continuing advancements in studying human genes and proteins. This research and development technique uses genome and proteome data to identify proteins associated with an infection, which are subsequently utilized as targets for new medications using software tools.
However, increased research and development costs, lack of skilled researchers, and insufficient funds limit the market growth. In addition, a lack of knowledge about the application of proteomics in underdeveloped countries is impeding the market growth. In addition, the stringent government regulations and high drug and devices prices are impeding market growth.
This research report on the MEA proteomics market has been segmented and sub-segmented into the following categories:
By Instrument Type:
By Software & Service:
The MEA proteomics market is projected to account for a moderate share during the forecast period. The market growth is driven by the proliferation of cancer, increasing awareness of proteomics applications, and the availability of raised government funds. On the other hand, a significant increase in the R&D activities in cancer and proteomics and the growing influence of key market players are expected to propel the market. Moreover, the major countries in the region, such as South Africa, Saudi Arabia, and UAE, rapidly contribute to the MEA regional market growth.
South Africa is projected to account significant share in the Proteomics market. Improving healthcare infrastructure, government support, and increasing healthcare spending are fueling the market growth.
Similarly, emerging countries such as UAE and Saudi Arabia are anticipated to witness a promising share in the proteomics market during the forecast period; the prevalence of genetic diseases, the growing demand for customized medicine, and increasing finance for proteomics ventures contribute to the MEA regional 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 a few of the leading companies in the MEA proteomics market profiled in this report.
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