Proteomics Global Market Report 2023
Major players in the proteomics market are Thermo Fisher Scientific Inc., Agilent Technologies Inc., Danaher Corporation, Merck KGaA, Waters Corporation, Perkinelmer Inc., Bio-Rad Laboratories Inc., Bruker Corporation, GE Healthcare, Caprion Biosciences, Luminex Corporation, LI-COR Inc.
New York, Feb. 23, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Proteomics Global Market Report 2023" - https://www.reportlinker.com/p06229156/?utm_source=GNW
, Becton Dickinson and Company, Siemens Ltd, Genzyme Corporation, Creative Proteomics, and Promega Corporation.
The global proteomics market is expected to grow from $23.70 billion in 2021 to $26.98 billion in 2022 at a compound annual growth rate (CAGR) of 13.8%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, surge in commodity prices, and supply chain disruptions, causing inflation across goods and services effecting many markets across the globe. The proteomics market is expected to reach $44.96 billion in 2026 at a CAGR of 13.6%.
The proteomics market consists of sales of proteins that are used for drug discovery, clinical diagnosis, molecular medicine and others.Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers.
The value of goods in this market includes related services sold by the creators of the goods.
Proteomics is a study of the structure and functions of proteins that are used in drug discovery, diagnosis, and treatment of diseases. Proteomics is used to evaluate the protein production rate, the involvement of proteins in metabolic pathways, and modifications of proteins.
North America was the largest region in the proteomics market in 2022.Western Europe was the second largest region in the proteomics market.
The regions covered in the proteomics market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The main types of proteomics are protein microarrays, spectroscopy, X-Ray crystallography, chromatography, electrophoresis, surface plasmon resonance, and protein fractionation. The various component used are reagents, instruments, and software that are used for proteomic analytical services and instrument services.
Rising government funds for research on proteomics drives the growth of the proteomics market.Government funds help researchers in drug discovery, diagnosis, and treatment of diseases.
For instance, in 2020, the IRB Barcelona’s Mass Spectrometry and Proteomics Core Facility, which is led by a research team with extensive expertise in the field, has received funding from the Catalan government through the European Regional Development Fund (ERDF) to purchase next-generation protein analysis equipment in collaboration with the Josep Carreras Leukemia Research Institute (IJC), the Sant Joan de Déu Research Institute (SJD), the Vall d’Hebron Institute of Oncology (VHIO), and the (UB). Therefore, rising government funds positively impacts the proteomics market.
The high cost of instruments is expected to limit the growth of the proteomics market.The broad implementation of new technologies expands the use of proteomics research from the discovery of new drugs, vaccines, and diagnostic targets, and due to its high-cost process, developments in different instruments have resulted in high prices compared to the traditional ones.
For instance, the price of mass spectrometers can range from $20,000 to $300,000, which will be extremely expensive for small-scale pharmaceutical companies and academic institutions. Therefore, the high prices associated with proteomics instruments make it difficult for developing countries to enter the proteomics sector, affecting the market’s growth.
Companies are launching new products in order to increase their revenue and also gain a competitive edge over their rivals.For instance, in June 2021, Bruker Corporation, a USA-based scientific instruments manufacturing company, announced the availability of two new trapped ion mobility spectrometry time-of-flight (timsTOF) instruments at its 4D-Proteomics eXceed Symposium.
The devices, which are based on ion mobility separation and mass spectrometry, will provide additional advances in proteomics, epiproteomics/PTM characterisation, and deep multiomic biomarker discovery.
In January 2020, Abcam, a UK-based company specialized in manufacturing research grade antibodies, acquired Expedeon’s Proteomics and Immunology Business for an undisclosed amount.The acquisition is expected to help Abcam to enhance its protein conjugation technology and to create new products for supporting research and diagnostic development.
Expedeon Ltd. is a UK-based company that specializes in the development of next-generation tools for biological research, diagnostics, and drug discovery.
The countries covered in the proteomics market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, and USA.
The market value is defined as the revenues that enterprises gain from goods and/or services sold within the specified market and geography through sales, grants, or donations in terms of currency (in USD ($) unless otherwise specified).
The revenues for a specified geography are consumption values – that is, they are revenues generated by organizations in the specified geography within the specified market, irrespective of where they are produced. It does not include revenues from resales either further along the supply chain or as part of other products.
The proteomics market research report is one of a series of new reports that provides proteomics market statistics, including proteomics industry global market size, regional shares, competitors with a proteomics market share, detailed proteomics market segments, market trends, and opportunities, and any further data you may need to thrive in the proteomics industry. This proteomics market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
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