Number of pages: 100-120 | Report Format: PDF | Published date: 18 July, 2022
Historical Years – 2018 & 2019 | Base Year – 2020 | Forecasted Years – 2021 to 2031
The global proteomics market was pegged at ~US$ 21.7 billion in 2020 and is expected to witness a CAGR of 16.2% during the forecast period.
Proteomics is a field of molecular biology that deals with the study of proteome. It consists of study of protein interaction, protein modification, analysis of metabolic pathways, rates of protein production, degradation, and steady-state abundance. Proteomics plays a critical role for early disease prognosis, diagnosis, and monitoring the disease development. Further, in the drug discovery, proteomics helps in target identification and validation, and investigating the mechanisms of drug action or toxicity.
Growing applications of proteomics in the diagnosis of diseases, the rising demand for personalized medicines, and increasing proteomics research activities are some of the major factors expected to fuel the market growth. Moreover, technological advancements and increasing funding for research activities are some of the other factors playing a pivotal role in propelling the global proteomics market growth. However, high cost of instruments and reagents is hindering the growth of proteomics market to certain extent. Collaborations, partnerships, alliances and agreements have become a priority in this area as it is a major challenge to the companies to capture and develop all the required expertise encompassing all the aspects of proteomics. Realizing this companies with mass spectrometry expertise are increasing their collaborations with biochip companies. Furthermore, another chief market driver is increasing demand for and research activities in personalized medicine.
The global proteomics market has been analyzed from four perspectives: Product & Services, Application, End User, and Region.
Proteomics Market by Product & Services
Based on product & services, the proteomics market has been segmented into instruments, reagents, and software & services. Instruments are further categorized into spectroscopy, chromatography, protein microarrays, electrophoresis, X–ray crystallography, and other instruments. Instruments segment held the largest share of the market in 2020. Instruments are used for determining the structure of proteins. Development and launches of technologically advanced instruments and increasing research studies on proteins during drug development process have led to increasing adoption of the instruments.
Proteomics Market by Application
Based on application, the market has been segmented into clinical diagnostics, drug discovery, and other applications. The clinical diagnostics segment held the largest share of the proteomics market in 2020. Proteomics is being used by clinical researchers for identifying various disease biomarkers. These biomarkers help in disease prognosis, diagnosis, staging, and monitoring. It helps in identifying diagnostic or prognostic markers for a range of diseases such as cancer, and infectious diseases such as malaria and tuberculosis.
Proteomics Market by End User
Based on end user, the market has been segmented into hospitals, clinical laboratories, pharmaceutical companies, and other end users. Pharmaceutical companies segment accounted for the largest share of the proteomics market in 2020. Increasing research activities and the rising funding for the development of new drug molecules are some of the factors fueling the growth of pharmaceutical companies.
Proteomics Market by Region
Regionally, the global proteomics market has been segmented into North America, Europe, Asia Pacific, and the Rest of the World (RoW). North America dominated the market for proteomics holding the largest market share in 2020. The major factors contributing to the growth of proteomics market in this region include increasing number of R&D activities for developing new drug molecules, the rising funding for proteomics research, and the growing awareness for early diagnosis for diseases. Moreover, developed health care infrastructure and high health care expenditure are some of the other factors boosting the proteomics market growth in this region.
Some of the prominent players operating in the global proteomics market include