Global Market Study on Proteomics: Increasing Application in Molecular Disease Diagnosis & Drug Discovery Boosting Demand
Proteomics Market is segmented by its components such as Instruments, Reagents and Kits,Core Proteomics Services, also by technology that is Microarrays, X-Ray Crystallography, Spectroscopy, Chromatography, Protein Fractionation Systems, Electrophoresis, Surface Plasma Resonance Systems and by its applications such as Drug Discovery, Clinical Diagnosis, Cancer Research.
Proteomics is a rapidly evolving field in disease diagnosis. Proteomics are used to identify proteins involved in a disease and study their expression, function, and structure.
Proteomic studies are also used to identify prognostic markers, and offer diagnostics for cancer, infectious diseases, malaria, and tuberculosis. Proteomics are used in the drug industry to investigate the mechanism of drug action or toxicity. They are also being used widely for the identification and validation of the efficacy of biomarkers.
Proteomics play a significant role in drug development, and therefore, many drug manufacturers have started their own proteomic divisions, which is boosting the growth of the global proteomics market, expected to surge at a high CAGR of 17% from 2019 to 2029.
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- Agilent Technologies, Inc.
- Thermo Fisher Scientific, Inc. (US)
- GE Healthcare (US)
- Danaher Corporation (US)
- PerkinElmer, Inc. (US)
- Merck KGaA (Germany)
- Caprion Proteomics Inc.
- Bio-Rad Laboratories
- Luminex Corporation (US)
- Waters Corporation
- Promega Corporation
- Bruker Corporation
Increasing Demand for Personalized Medicine Surging Proteomics Market
Advances in proteomic research have made important contributions to the development of personalized medicine by expediting the detection of protein biomarkers, protein biochips & pharmacoproteomics, and proteomics-based molecular diagnostics. Personalized medicines are a promising approach and effective treatment against cancer, neurodegenerative diseases, and rare genetic conditions.
In cancer, personalized medicine is prescribed according to genetic modification, and also provides information about a person’s tumor profiling and plan treatment.
The progress of proteomics in achieving personalized therapy has been possible due to tremendous advancements in protein interactions, protein expression patterns, modifications, and translation techniques.
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Demand in East Asia and South Asia on Upswing
North America and Europe currently hold more than 55% of the global proteomics market. The high prevalence of genetic diseases such as cancer and infectious diseases such as malaria and tuberculosis are propelling the demand for proteomic products and services in North America.
However, East Asia and South Asia are poised for significant growth in the global proteomics market over the forecast period, owing to factors such as large population base, increased burden of cancer & infectious diseases, and wide use of proteomics in genetic disease diagnosis.
Increased R&D investments and government initiatives are expected to boost the demand for proteomic-based disease diagnosis in these regions.
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COVID-19 Pandemic Altering Drug Manufacturing Scenario
The global pandemic is expected to have a measurable impact on the rapid growth of the proteomic market. Pharmaceutical companies, which have been significant end users of the proteomics market, are limiting the manufacturing of drugs due to the shortage of raw materials.
Active pharmaceutical players are shifting toward the manufacturing of essential medicines that are of utmost need at the moment. Owing to this fact, the proteomics market is expected to take a backseat in the priorities of manufacturers for now.
On a positive note, numerous proteomic labs are exploring therapeutic options, and these studies have yielded potential drug targets, some of which are now being tested, and are finding information that could potentially aid the development of more rapid diagnostics for the virus. This is expected to alleviate the loss that the pandemic is expected to cause, to some extent.
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An extensive analysis of the proteomics market has brought our analysts to a conclusion that, the market is growing at a significant pace. Currently, reagents & kits is the target segment for major players operating in the proteomics market. Hence this segment dominates the global proteomics market by component, in term of market growth.
Europe and North America collectively hold more than 55% of revenue share due to the high adoption of proteomic components in these regions. Emerging countries such as Brazil, South Africa, and Argentina are expected to offer lucrative opportunities for players in the proteomics market in the coming years, owing to increasing awareness and initiatives by local governments for research & development in protein engineering.
Key Segments of Proteomics Market
PMR’s study on the proteomics market offers information divided into five important segments - component, technology, application, end user, and region. This report offers comprehensive data and information about important market dynamics and growth parameters associated with these categories.
Key Questions Answered in Report
- How much is the proteomics market worth?
The global proteomics market is estimated to be worth US$ 26 Bn in the year 2021.
- What will be the demand outlook?
The global proteomics market is expected to grow five-fold between 2021 and 2031.
- What was the last 5 year market CAGR?
The last 5 year CAGR witnessed by proteomics market was 15.5%
- What are the key trends of proteomics market?
The current trend is that of nanoproteomics being preferred with increasing applications like metal oxide nanoparticles/phosphoproteomics, analytically detecting biomarker proteins by making use of array techniques, and nanosaturated surfaces to enable protein separation.
- What is driving the demand for proteomics?
Gene expression’s evaluation at proteome level is driving the demand for proteomics.
- What is the market share of top 5 players?
The top 5 players such as Thermo Fisher Scientific, Inc., Bio-Rad Laboratories, Inc., Merck KGaA, Agilent Technologies, and Bruker Corporation hold more than 60% of the market share.
- What are the top 5 countries driving demand?
The top 5 countries driving the demand include the US, Germany, China, Switzerland, and Canada.
- What is North America’s market Outlook?
North America will continue to drive the proteomics market on a remarkable note with majority of the key market participants based in the US.
- At what percentage proteomics market is going to register growth in Europe?
Europe is expected to witness growth at the rate of 15% in the proteomics market between 2021 and 2031.
- Which countries are key producers of proteomics?
The US is the key producer of proteomics.