Proteomics Market Is Anticipated to Witness High Growth Owing to Technological Advancements7/2/2024 Proteomics refers to the study of proteomes which are the entire set of proteins produced or modified by an organism, system or biological context. Proteomics helps scientists to understand how proteins work and interact with each other, as well as identify their structure, function, and expression levels in cells, tissues or biological fluids. The growing applications of proteomics in various fields such as disease biomarker discovery and pharmacology research are spurring the demand for proteomics market globally. With continuous technological innovations in protein separation and mass spectrometry techniques, the field of proteomics promises deeper insights into the mechanisms of life and disease.
The Global Proteomics Market is estimated to be valued at US$ 42.4 Bn in 2024 and is expected to exhibit a CAGR of 19% over the forecast period 2024 to 2031. Proteomics helps in the development of personalized medicines by analyzing protein expressions and modifications. It finds wide application in various sector such as drug discovery, diagnosis of diseases, and developing biomarkers for diseases. Growing demand for high-throughput proteomic techniques from biopharmaceutical and biotechnology companies is expected to fuel market growth. Key Takeaways Key players operating in the proteomics are Thermo Fisher Scientific Inc, Agilent Technologies Inc., Danaher Corporation, Bio-Rad Laboratories, Inc., GE Healthcare, Luminex Corporation, PerkinElmer Inc., Illumina, Inc., QIAGEN N.V., and Waters Corporation. Key opportunities in the market include growing proteomics applications in precision medicine and drug development. Precision medicine or personalized medicine is an innovative approach that takes into account individual variability in genes, environment, and lifestyle for each person. Proteomics provides a powerful toolkit to advance precision medicine by enabling a multidimensional understanding of disease mechanisms. Globally demand for Proteomics Market Size North America and Europe is high however with improved infrastructure and rising healthcare spending Asia Pacific market is projected to witness fastest growth over the forecast period. Various key players are expanding their presence in emerging Asian countries by setting up R&D and manufacturing facilities to tap into opportunities. For instance, in 2023 Thermo Fisher inaugurated a new mass spectrometry innovation center in China. Market Drivers Growing application of proteomics in disease diagnostics and biomarker discovery is a major factor driving the market. Identification of novel disease biomarkers helps in early detection of diseases and developing targeted treatment strategies. Rising R&D investments from pharmaceutical and biotechnology companies in proteomics based drug development is also fueling revenues. Market Restrain High costs associated with proteomics instruments and services is a major challenge especially for small and medium labs and research facilities in developing nations. Additionally, lack of skilled professionals and low proteomics awareness in emerging countries also hampers market growth to some extent. Segment Analysis The proteomics market can be segmented based on sample type, application and consumables/instrument. The instrument segment dominated the market in 2024, accounting for over 50% share. Proteomics instruments including spectrophotometers, chromatography instruments and electrophoresis instruments are extensively used across biomedical and clinical research for protein analysis. The consumables segment is expected to grow at the highest CAGR during the forecast period owing to increasing research activities and rising usage of consumables like antibodies, reagents, solvents and other. Global Analysis North America dominated the proteomics market in 2024 with over 35% share. Presence of advanced healthcare infrastructure and prominent research institutes like National Institute of Health (NIH) drive market growth. Asia Pacific region is projected to witness fastest growth during the forecast period rising at a CAGR of 22%. Increasing R&D investments in proteomic technologies by pharmaceutical and biotechnology companies in countries such as China and India will propel regional market. Additionally, growing collaborations between regional and international market players are helping expand proteomics applications across several industries in Asia Pacific. Get more insights on – Proteomics Market About Author: Money Singh is a seasoned content writer with over four years of experience in the market research sector. Her expertise spans various industries, including food and beverages, biotechnology, chemical and materials, defense and aerospace, consumer goods, etc. (https://www.linkedin.com/in/money-singh-590844163)
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