Proteomics Market to Reach US$ 68.4 Bn by 2032, driven by Increasing investment in research and development activities: Global Insight Services
New York, April 2023: According to a new research study by Global Insight Services (GIS), the global Proteomics Market is expected to grow rapidly over the next 10 years to reach a value of more than the US $ 68.4 Billion by 2032.
Proteomics is the large-scale study of proteins, including their structure, function, and interactions. Proteins are the main components of cells and play a vital role in all biological processes. By understanding proteins, we can better understand how cells work and how diseases develop. Proteomics research often uses high-throughput techniques to analyze thousands of proteins at once. This allows us to identify patterns and trends that would be difficult to see using traditional methods. Proteomics has been used to discover new proteins, understand the function of existing proteins, and develop new drugs and diagnostic tests.
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Proteomics Market: Key Trends and Drivers
The rising prevalence of chronic diseases like cancer, Cardiovascular Diseases (CVDs), respiratory diseases, CKD, and others is another factor anticipated to propel the market growth. For instance, according to Globocan, in December 2020, there were 19.3 million new cases of cancer across the world and 10 million cancer-related deaths were reported. Similarly, CVDs are one of the major causes of death worldwide. For instance, as per the WHO (2021), target diseases kill 41 million patients per year. Thus, owing to the increasing prevalence of life-threatening diseases, the demand for personalized therapies is also increasing resulting in a positive impact on the industry.
Proteomics Market: Restraints & Challenges
Proteomics is the large-scale study of proteins, their structures and functions. It is a relatively new field, only coming into its own in the late 1990s with the advent of new technologies that allow for the rapid identification and characterization of proteins.
Despite its promise, proteomics faces a number of key challenges that must be overcome if it is to fulfill its potential. Perhaps the most significant challenge is the sheer size and complexity of the proteome. The human proteome is estimated to contain upwards of 20,000 different proteins, each with its own unique structure and function. Understanding the role of all of these proteins in health and disease is a daunting task.
Another challenge facing proteomics is the lack of standardization. Unlike genomics, which has benefited from years of research and standardization efforts, proteomics is still in its early stages. This lack of standardization makes it difficult to compare results across different studies and to replicate findings. Finally, proteomics is an expensive field of research. The cost of the necessary equipment and reagents can be prohibitive, making it difficult for many laboratories to get started in proteomics.
Proteomics Market Report Findings
The Electrophoresis equipment segment is likely to hold a dominant Proteomics Market share and grow at a substantial CAGR during the forecast period.
By product, the market is segmented into Spectroscopy, Chromatography, Electrophoresis, Protein Microarrays, and Others. Electrophoresis equipment and biochip analyzers are the commonly used instruments for protein analysis. Furthermore, the increasing demand for automation in diagnostic techniques and the need for a cost-effective platform for sample analysishave increased interest among manufacturers to focus on innovations and product development. Moreover, technological breakthroughs (the growing downsizing and integration of biochips as well as advancements in the instruments and workflows for mass spectrometry) in proteomics instruments are expected to drive market trends over the years to come.
The drug discovery segment is anticipated to hold a majority of the Proteomics Market size throughout the study period.
By application, the proteomics market is classified into clinical diagnostics, drug discovery, and other application. The drug discovery segment dominated the global market with a revenue share of over xx% in 2022. On the other hand, the drug discovery segment is estimated to register the fastest growth rate during the projected period. The development of structure-based drug design, a greater emphasis on creating personalized drugs, and more investments in these areas can all be credited for the segment growth. In addition, proteomics technologies also offer a way to show early on in a drug discovery program, saving pharmaceutical corporations a significant amount of capital and eventually benefiting patients as well as the healthcare systems, which contributes to the segment growth.
The clinical laboratories segment is anticipated to hold a majority of the Proteomics Market size throughout the study period.
Based on end-user. It is segmented into hospitals, clinical laboratories, pharmaceutical companies, academic research laboratories, and others. Clinical laboratories was the market’s dominant segment in 2022. This is due to the widespread use of protein analysis by researchers and clinicians to identify illness biomarkers for early detection and detecting individual risk factors. This is expected to provide new avenues for disease early detection and prevention. It is feasible to discover prospective biomarkers and protein transcriptional regulation that can be used to identify and predict malignancies, as well as evaluate their prognosis, using proteomics-based diagnosis, which promotes the segment’s growth.
The North America region is estimated to exhibit the highest growth rate during the Proteomics Market forecast period.
Region-wise, it is studied across North America, Europe, Asia Pacific, and the Rest of the World. The North American market is primarily driven by the rise in demand for the preservation of blood, solid tissue specimens, including paraffin-embedded or frozen bio-specimen of tumors, and other tissues (like peripheral blood cells, bone marrow, and stem cells-derived cord blood and its derivatives), across multiple research institutes, pathological centers, and hospitals. The surge in the government’s investment in drug discovery is projected to boost the biopreservation utility for the preservation of cells, tissues, and organs ex-vivo for the purpose of storage, shipment, and transportation. For instance, the Canadian government invested USD 45 million in the current year over the next three years to the Stem Cell Network to encourage stem cell and regenerative medicine research. Such investments are anticipated to boost the utility and demand of biopreservation in the region, thereby boosting market growth during the forecast period.
Additionally, advancements in technology, increasing product approvals, partnerships, and acquisitions by key players are helping in the market growth. For instance, in February 2022, OriGen Biomedical Inc., a global medical device manufacturer of cryopreservation, cell culture, and respiratory products, launched CryoStore FLEX Freezing Bag in the United States and Europe. The CryoStore FLEX Bag is designed for the cryopreservation of blood components and offers the multi-chamber flexibility of small-volume dose solutions.
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The key players in the Proteomics Market are Agilent Technologies Inc., Danaher Corporation, LI-COR, Inc., PerkinElmer, Inc., Thermo Fisher Scientific, Inc., HORIBA, Ltd., Bio-Rad Laboratories, Inc., Bruker Corporation, General Electric (GE), and Waters Corporation, among others.
Recent Developments in the Proteomics Market:
- In January 2022, The Proteograph Product Suite’s Broad Commercial Release and the Centers of Excellence program’s debut were both announced by Seer, Inc. The Proteograph Product Suite offers impartial, unmatched access to the proteome. The approach uses unique designed nanoparticles to produce a ground-breaking product that enables quick, thorough, and unbiased proteomics at scale.
- In June 2021, Bruker Corp. launched the two new timsTOF instruments. It enables new methods & applications, such as epiproteomics/PTM characterization, and unbiased, and, deep multi-omic biomarker discovery.
Proteomics Market Report Coverage
- The report offers a comprehensive quantitative as well as qualitative analysis of the current global Proteomics Market outlook and estimations from 2021 to 2031, which helps to recognize the prevalent opportunities.
- A thorough analysis of market trends and restraints is provided.
- Region-wise, as well as country-wise conditions, are broadly evaluated in this report.
- The forecasts in this report are made by examining the recent trends along with future Proteomics Market potential from 2021 to 2031 in terms of revenue.
- Porter’s five forces analysis, SWOT analysis, COVID-19 impact analysis, Russia-Ukraine war impact, and PESTLE analysis of the Proteomics Market are also analyzed.
- Major players in the market are profiled in this report and their key developmental strategies are studied in detail. This will provide an insight into the competitive landscape of the global kidney stones management market.
Global Proteomics Market Segmentation
- Protein Microarrays
- Clinical Diagnostics
- Drug Discovery
- Other Application
- Clinical Laboratories
- Pharmaceutical Companies
- Academic Research Laboratories
- North America
- The U.S.
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia-Pacific
- Rest of World
- Latin America
- Middle East
- Agilent Technologies Inc.
- Danaher Corporation
- LI-COR, Inc.
- PerkinElmer Inc.
- Thermo Fisher Scientific Inc.
- HORIBA Ltd.
- Bio-Rad Laboratories Inc.
- Bruker Corporation
- General Electric
- Waters Corporation