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Global Proteomics Market: Analysis By Product, By Application, By Technology, By End User, By Region Size & Forecast with Impact Analysis of COVID-19 and Forecast up to 2027
Proteomics is the study of proteins involved in disease and their structure, function, and expression. It aids in understanding the process and interactions of an organism’s entire protein content. Proteomic research also identifies prognostic markers and provides diagnostics for infectious diseases such as malaria and cancer.
New York, Dec. 08, 2022 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Global Proteomics Market: Analysis By Product, By Application, By Technology, By End User, By Region Size & Forecast with Impact Analysis of COVID-19 and Forecast up to 2027" - https://www.reportlinker.com/p06370528/?utm_source=GNW
Proteomics is also used in the pharmaceutical industry to investigate the mechanism of drug action or toxicity, as well as to identify and validate the efficacy of biomarkers. In 2021, the global proteomics market was valued at US$24.98 billion, and is probable to reach US$95.29 billion by 2027.
Technical advancements, increased funding for research, rising healthcare costs, growing demand for tailored medication, and rising rates of genetic illnesses are also expected to drive market growth over the next coming years. The proteomics market is projected to grow at a CAGR of 25%, during the forecast period of 2022-2027.
Market Segmentation Analysis:
By Product: According to the report, the global proteomics market is segmented into three products: Reagents, Instruments and Services. Reagents segment acquired majority of share in the market in 2021, due to extensive use of reagents & consumables, kits, chemicals, and strips for the examination of various biological samples in academic institutions, research labs, and others, which will increase the demand for reagents & consumables fueling the segment growth. The same segment is expected to have the highest CAGR in the future due to technological developments of advanced instruments, such as 2-D electrophoresis protein analyzers.
By Application: According to the report, the global proteomics market is segmented into three applications: Drug discovery, Disease diagnosis and others. Drug discovery segment acquired majority of share in the market in 2021, due to 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. Drug discovery segment is expected to have the highest CAGR in the future due to 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.
By Technology: The report splits the global proteomics market into seven technology: X-Ray crystallography, Surface Plasmon Resonance, Protein Fractionation, Electrophoresis, Protein Microarrays, Spectroscopy and Chromatography. In 2021, Protein Microarrays segment held the maximum share in the market, because of high usage of this technology to track protein interactions in lesser time as compared to other technologies. Also, Protein Microarrays is predicted to have the highest CAGR in the future because this method is labor-intensive and cost-effective.
By End Users: The report splits the global proteomics market into five end users: Pharmaceutical companies, Hospitals, Clinical laboratories, Academic research laboratories and others. In 2021, Pharmaceutical companies segment held the maximum share in the market, due to the increasing investments in R&D that the companies have been making in the field of genomics and Proteomics. However, Academic research laboratories is predicted to have the highest CAGR in the future because of the increase in government support for clinical research projects.
By Region: According to this report, the global proteomics market can be divided into four major regions: North America (The US, Canada and Mexico), Asia Pacific (China, Japan, India, and Rest of Asia Pacific), Europe (Germany, UK, France, Italy, Spain and Rest of Europe), and Rest of the World. The North America proteomics market enjoyed the highest market share in 2021, primarily owing to increase in popularity and adoption of personalized medicines and favorable government funding & initiatives to develop novel therapeutics.
While the US continues to be a prominent region of North America proteomics market, accounting to the rise in awareness and use of proteomics and technological advancements contribute majorly to the market growth of the region.
Global Proteomics Market Dynamics:
Growth Drivers: Increased investment in biotech companies in 2020 supported the development of the proteomics market. The pandemic has adversely affected most sectors, including healthcare. However, publicly traded biotech companies saw investment growth in March 2020 after the first indiscriminate shock in share prices. This is considered a positive indicator for the proteomics market. Further, the market is expected to increase due to rising prevalence of cancer and associated genetic disorder, faster turn–around times (tat), increased investments in R&D in the field of proteomics, accessibility and reproducibility, etc.
Challenges: Companies rely on publicly available structure data and trial-and-error methods to identify compounds that either stimulate or inhibit target proteins. Protein structure requires the use of fast, high throughput tools and machines. All of these procedures necessitate a large number of laboratory hours, which raises the per-sample testing costs. Other challenges that proteomics market face is dynamic range, PTMs explode the level of complexity in proteomics, high cost of instruments, etc.
Trends: A major trend gaining pace in proteomics market is artificial intelligence in proteomics. Artificial intelligence (AI) applications in proteomics are already reshaping the drug discovery landscape. Understanding how and why specific proteins interact is critical for progressing cell biology, developing new drugs, and determining how drugs may have both therapeutic and adverse effects. More trends in the market are believed to augment the growth of proteomics market during the forecasted period include surge in drug discovery, emerging method: high-plex proteomics, emerging technologies, increasing prominence of nanoproteomics and new applications based on proteomics technology advancements, etc.
Impact Analysis of COVID-19 and Way Forward:
Due to the COVID-19 pandemic, some clinical studies were temporarily delayed around the world. The pandemic created a lot of demand for proteomics services, which has had a big impact on the market. There is continued interest in using advanced mass spectrometers to improve quality outcomes for patients. In 2020, new technologies in mass spectrometers allowed the identification of proteins unique to COVID-19. The proteomics industry had seen positive growth during the pandemic.
Competitive Landscape and Recent Developments:
The proteomics market is concentrated with the presence of a few number of players majorly dominating worldwide. Key players of the proteomics market are:
Danaher Corporation
Agilent Technologies
PerkinElmer, Inc.
Bio-Rad Laboratories, Inc.
Thermo Fisher Scientific Inc.
Bruker Corporation
Illumina Inc.
Horiba, Ltd.
Waters Corporation
DiaSorin SpA (Luminex Corporation)
Promega Corporation
The key players are constantly investing in strategic initiatives, such as new product launches, introducing their products to emerging markets and more, to maintain a competitive edge in this market. For instance, In March 2022, Biognosys introduced an expanded suite of proteomics platforms, namely The True Discovery, True Target, and True Signature, which provides biological insights across the entire R&D pipeline, from early-stage discovery to clinical settings for pharmaceutical and diagnostics customers. Also, In January 2021, SCIEX acquired Intabio Inc. with this acquisition, SCIEX aims to use its knowledge of the biopharma market, capillary electrophoresis, and mass spectrometry, and Intabio’s technology to swiftly introduce the life-saving drugs to the market.
Read the full report: https://www.reportlinker.com/p06370528/?utm_source=GNW
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