Proteomics Market to Grow with a CAGR of 12.21% through 2028
Rising demand for personalized medicine and increasing R&D expenditure
& government funding for proteomics is expected to drive the Global Proteomics
Market growth in the forecast period, 2024-2028.
According to TechSci Research report, “Proteomics
Market – Global Industry Size, Share, Trends, Competition Forecast &
Opportunities, 2028”, the Global Proteomics Market stood at USD 35.88 billion in 2022
and is anticipated to grow with a CAGR of 12.21% in the forecast period,
2024-2028. The remarkable growth of the Global Proteomics Market can be
primarily attributed to the surge in research activities focused on
personalized medicine.
With the increasing investments in research and
development by pharmaceutical and biotechnology companies, coupled with
continuous technological advancements, the field of proteomics is experiencing
a significant boost. Moreover, the rising amount of monetary support provided
by governments worldwide further fuels the expansion of this market, fostering
innovation and driving breakthrough discoveries in the field.
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The proteomics industry is poised for significant
growth and advancements in the near future. Proteomics, the study of proteins
and their functions within biological systems, plays a crucial role in
understanding disease mechanisms, identifying therapeutic targets, and
developing personalized medicine approaches. With advancements in technology
and analytical techniques, the proteomics industry is expected to witness
remarkable progress. One of the key areas of growth is the development of
high-throughput proteomics platforms that enable the analysis of large numbers
of proteins simultaneously. This allows for a comprehensive understanding of
complex protein networks and their interactions, leading to insights into
disease pathways and potential biomarkers. Additionally, advancements in mass
spectrometry and bioinformatics tools are enhancing the accuracy and speed of
protein identification and quantification. This enables researchers to delve
deeper into proteomic data and extract meaningful information for drug
discovery, precision medicine, and diagnostics. Moreover, the integration of
proteomics with other omics technologies, such as genomics and metabolomics,
holds immense potential for gaining a holistic understanding of biological
systems and disease processes. Overall, the proteomics industry is expected to
contribute significantly to advancements in medical research, diagnostics, and
therapeutic development, ultimately leading to improved patient outcomes soon.
Another growth driver of the Global Proteomics Market
is the increasing prevalence of cancer and other diseases. Ongoing proteomics
research can aid doctors in understanding how proteins react in dynamic
environments, such as in patients with cancer. The field of proteomics can
provide significant information in the form of biomarkers. However, there are
also significant challenges to the growth of the Global Proteomics Market.
Venturing into proteomics requires substantial capital expenditure on equipment
and carries the risk of failure due to the trial-and-error nature of research.
Despite these challenges, the proteomics market
presents several growth opportunities as a relatively new technology that has
shown considerable progress. Nanoproteomics, which combines nanotechnology with
proteomics, is expected to have a positive impact on market growth in the
forecast period.
Increased investments by leading players in the
development of improved medications and diagnostic technologies are expected to
promote expansion in the proteomics market. For example, in June 2021, Bruker
Corp. plans to release two new Tim stop equipment. These advancements enable
the development of innovative methods and applications, such as
epiproteomics/PTM characterization and the discovery of unbiased and
comprehensive multi-omic biomarkers. They also improve and facilitate unique
applications and methodologies in cancer liquid biopsy research. Such corporate
activities are likely to augment market expansion in the coming years.
These key drivers will continue to propel the
biopharmaceutical industry's pursuit of breakthrough pharmaceuticals, along
with recent technology improvements in gene and protein research. In December
2020, Thermo Fisher Scientific announced the successful conclusion of its
purchase of Phitonex, Inc., a North Carolina-based company that has developed a
spectroscopic dye platform for elevated biology applications, accelerating
research and development in immuno-oncology, cell therapy, and immunology research.
The addition of Phitonex's products will allow Thermo company to offer more
flow cytometry and image multiplexing capabilities to meet evolving client
needs in protein and cell analysis investigations. As it is challenging for
corporations to possess all the necessary knowledge to cover all tasks involved
in proteomics, alliances are becoming increasingly essential in this market.
Furthermore, the increased prevalence of chronic
diseases such as cancer, cardiovascular disorders (CVDs), respiratory diseases,
chronic kidney disease (CKD), and others is expected to propel market
expansion. As the prevalence of life-threatening diseases rises, the need for
tailored therapeutics increases, resulting in a beneficial impact on the
sector.
The Global Proteomics Market is segmented into product,
technology, application, type, end user, regional distribution, and company.
Based on application, the clinical diagnostics segment
is projected to hold the largest market share in the upcoming years, having
already dominated the market in 2022. The increased utilization of proteomics
for disease identification will drive market growth in the future. Early
detection of diseases not only mitigates the risk of mortality but also aids in
understanding potential biomarkers and risk factors. Consequently, this
technique presents a significant growth opportunity. Furthermore, proteomics facilitates
the identification and classification of tumors.
In addition, the drug discovery segment is anticipated
to exhibit substantial growth, with the fastest compound annual growth rate in
the years to come. The development of structure-based drug design will
contribute significantly to market expansion. The rising demand for
personalized drugs has played a pivotal role in driving market growth, leading
to increased investments in this field. Early disease detection also fuels the
necessity for drug development. The incorporation of proteomics technology enhances
the drug discovery process, resulting in significant time savings for
pharmaceutical companies. Moreover, the implementation of this technology has
the potential to reduce capital expenditures associated with drug discovery.
Ultimately, both the healthcare system and patients stand to benefit from the
advancements offered by this technology.
Based on region, North America segment is expected to
grow during the forecast period. Antibody-drug conjugates and protein
therapies play a crucial role in the treatment and diagnosis of diseases in
North America. This field is continuously expanding, with extensive research
focused on innovative and next-generation medicines. Numerous protein therapies
are currently undergoing clinical trials to address cancer, immunological
disorders, infections, age-related diseases, and various other conditions. Moreover,
proteomics research is thriving, particularly in countries like the United
States. The prevalence of hereditary disorders such as cancer, as well as
infectious diseases like malaria and tuberculosis, is driving the demand for
proteomic services in the region.
Europe is expected to be the second-largest market for
proteomics. The growth of the market in this region is fueled by increasing
cancer research activities and government support. The Asia-Pacific region is
projected to be the fastest-growing market due to the rising prevalence of
cancer and other diseases, as well as the presence of numerous personalized
medicine producers. In addition, the huge population, increasing incidence of
cancer and infectious diseases, and widespread use of proteomics in genetic
disorder diagnostics position East Asia and South Asia for significant
expansion in the global market throughout the forecast period. Rising research
and development expenditures and social programs are projected to drive
substantial growth in the diagnosis of diseases based on proteomic approaches
in these regions.
Major companies operating in
Global Proteomics Market are:
- Illumina,
Inc.
- Thermo
Fisher Scientific Company Profile
- Bruker
Corporation
- Promega
Corporation
- Agilent
Technologies Inc. Company Profile
- Merck
KGaA.
- Bio-Rad
Laboratories, Inc. Company Profile
- Danaher
Corporation Company Profile
- F
Hoffmann-La Roche Ltd.
- Luminex
Corporation
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“The growing preference for personalized drugs,
coupled with the increasing focus on research and development in drug discovery
and biotechnology, serves as the primary driver for market growth. Proteomic
systems play a pivotal role in reducing the time, cost, and resources required
for chemical synthesis and biological testing of drugs, thereby simplifying the
drug discovery process. Moreover, the market is further propelled by
opportunities associated with biomarker identification and mass spectrometry-based
proteomics. Additionally, the market benefits from the rising technological
penetration in comprehensive protein analysis techniques, enabling
comprehensive quantitative and qualitative analysis of proteins, as well as
identification of cancer therapies and treatments. Furthermore, favorable
government policies supporting extensive research and development (R&D)
efforts contribute to the market's growth.,” said Mr. Karan Chechi, Research
Director with TechSci Research, a research-based management consulting firm.
“Proteomics Market Segmented By Product
(Reagents & Assays, Instruments, Software & Services), By Technology
(Spectroscopy, Microarray instruments, Chromatography, X-ray crystallography,
Protein Microarrays, Electrophoresis), By Application (Clinical Diagnostic,
Drug Discovery, Diagnostic Biomarker Discovery, Others), By Type (Expression,
Functional, Structural, Computational), By End User (Pharmaceutical and
Biotechnology Companies, Research Institutes, CROs), By
Region and Competition, Forecast
& Opportunities, 2018-2028F”, has evaluated the future growth potential of Global
Proteomics Market and provides statistics & information on market size,
structure and future market growth. The report intends to provide cutting-edge
market intelligence and help decision makers take sound investment decisions.
Besides, the report also identifies and analyzes the emerging trends along with
essential drivers, challenges, and opportunities in Global Proteomics Market.
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