Proteomics Market
Proteomics is a science which is used to estimate the rate of protein production, interaction of proteins with one another, involvement of proteins in metabolic pathways, and modification of proteins. Also, it has extensive applications in drug discovery, development of personalized medicines, and identification of markers for disease diagnosis.
The Global Proteomics Market is anticipated to hold a market value of USD 65.2 billion in 2032 and is expected to grow at a CAGR of 12.4% during the forecast period.
Increasing need for personalized medicine, RD expenditure, technological advancements and increased funding for proteomics project are expected to drive the market growth over the forecast period. For instance, in July 2017, Biognosys AG received USD 5 million funding from its new as well as existing investors. These new funds will be used for extending commercial operations and also to accelerate the development of next generation proteomics workflows. However, reduced funding in key markets of proteomics, high cost of tools equipment and lack of skilled researchers can restrain the market growth over the assessment period.
Major Key Players:
Some of the prominent Proteomics Market Players are GENERAL ELECTRIC COMPANY, Bio-Rad Laboratories, Inc., Danaher, Siemens Ltd., Thermo Fisher Scientific Inc., Agilent Technologies, Inc., Genzyme Corporation, Biognosys AG, Bruker, Luminex Corporation, Merck KGaA, PerkinElmer Inc., WATERS, Caprion Biosciences Inc. and Others.
Segment Analysis
The global proteomics market, as per the discussion of MRFR analysts, has been studied on the basis of equipment, service, and application. This study holds details regarding factors and revenues that will facilitate strategy-devising procedures.
By equipment, the global market for proteomics has been segmented into mass spectroscopy, protein microarray, chromatography, protein fractionation, x-ray crystallography, and others. The protein fractionation is getting traction for its rising demand in the research process encompassing COVID-19.
By services, the global market report will cover segments like laboratory services and data analysis services. The largest market share is getting enjoyed by the laboratory services segment as it has a significant contribution to finding effective diagnosis and research for drug discovery. The data analysis and services segment will register the fastest CAGR during the forecast period for its rising demand in the data analytics sector.
By application, the global report on the proteomics market has been segmented into clinical diagnosis, drug discovery, and others. The drug discovery segment is witnessing demand as several pharmaceutical companies have started procedures to find a proper drug and vaccine for COVID-19.
Regional Analysis
Geographically, the Americas is expected to dominate the global market owing to the easy availability of funds from various organizations and rising interest in personalized medicines. According to the Personalized Medicine Coalition, number of available personalized medicines increased to 113 in 2014 from 13 in 2006. Europe is expected to hold the second largest position in the global market owing to the rising cancer research activities and high funding from the government. Asia-Pacific is expected to be the fastest growing market owing to the high prevalence of cancer and rising healthcare expenditure. Moreover, the Middle East and Africa region is expected to account for the least market share in the global market.
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