Proteomics Market by Instrument (Spectroscopy, Chromatography, Electrophoresis, Microfluidics, X-ray Crystallography), Reagents, Services & Software (Protein Identification, Characterization, Bioinformatics), Application - Global Forecast to 2024
“The proteomics market is projected to grow at a CAGR of 14.1% during the forecast period (2019-2024).”
The proteomics market is projected to reach USD 38.7 billion by 2024 from USD 19.5 billion in 2019, at a CAGR of 14.7%. An increase in the research activity, especially in the area of personalized medicine and drug discovery is the primary growth driver for this market. In addition, the increasing R&D expenditure by pharmaceutical and biotechnology companies, increasing government funding, and technological advancements are also propelling the growth of the proteomics market. The growing prominence of nanoproteomics and personalized proteomics for precision health offers significant growth opportunities for players in this market. However, low biomarker discovery-to-approval ratio and data management in proteomics research are some of the major market challenges.
“The protein fractionation segment is expected to grow at the highest rate during the forecast period.”
Based on instrumentation technology, the proteomics market is segmented into spectroscopy, chromatography, electrophoresis, protein microarrays, X-ray crystallography, surface plasmon resonance, and protein fractionation. The protein fractionation segment is projected to witness the highest growth in the proteomics market during the forecast period. This growth is attributed to the benefits of protein fractionation, such as its ability to effectively separate thousands of proteins in a complex structure. The need for the analysis of complex mixtures comprising proteins is increasing in proteomics research; this serves to drive the market demand for protein fractionation systems.
“The bioinformatics software & services segment is expected to grow at the highest CAGR during the forecast period.”
Based on services and software, the proteomics market is segmented into core proteomics services and bioinformatics software & services. The bioinformatics software & services segment is projected to witness the highest growth rate during the forecast period. With the exponential growth in the determination of protein sequences and structures via genome sequencing and structural genomics efforts, there is a growing need for reliable computational methods to determine the biochemical function of these proteins. This is expected to drive the growth of the bioinformatics segment in the coming years.
“APAC is projected to witness the highest growth during the forecast period.”
Even though North America is expected to account for the largest share of the global proteomics market in 2018, APAC is expected to witness the highest CAGR during the forecast period. The growing Asian scientific base and capability, growing proteomics and genomics research and increasing research funding, increasing investments by pharmaceutical and biotechnology companies, growing awareness about personalized therapeutics, and increasing research activities in the field of mAb-based therapeutics are factors driving the growth of this regional segment.
A breakdown of the primary participants referred to for this report is provided below:
By Company Type: Tier 1-48%, Tier 2-34%, and Tier 3-18%
By Designation: C-level-42%, Director-level-40%, and Others-18%
By Region: North America-38%, Europe-25%, Asia Pacific-30%, Latin America-5%, and the Middle East & Africa-2%
The prominent players in the proteomics market are Thermo Fisher Scientific, Inc. (US), Agilent Technologies, Inc. (US),GE Healthcare (US), Bio-Rad Laboratories, Inc. (US), Danaher Corporation (US), Luminex Corporation (US), Bruker Corporation (US), Merck KGaA,(Germany), Waters Corporation (US), PerkinElmer, Inc. (US), Creative Proteomics (US), and Promega Corporation (US).
The report analyzes the market for various clinical workflow solutions and their adoption pattern. It aims at estimating the market size and future growth potential of the proteomics market and the different segments such as by instrumentation technology, reagent, service and software, and application. The report also includes an in-depth competitive analysis of the key players in this market along with their company profiles, product & service offerings, and recent developments.
Reasons to Buy the Report
The report will enrich established firms as well as new entrants/smaller firms to gauge the pulse of the market, which, in turn, would help them to garner a greater share. Firms purchasing the report could use one or a combination of the below-mentioned five strategies for strengthening their market presence.
This report provides insights on the following pointers:
Market Penetration: Comprehensive information on the product portfolios offered by the top players in the proteomics market.
Product & Service Development/Innovation: Detailed insights on the upcoming trends, R&D activities, and product or service launches in the proteomics market.
Market Development: Comprehensive information on lucrative emerging regions.
Market Diversification: Exhaustive information about new products and services, growing geographies, and recent developments in the global proteomics market.
Competitive Assessment: In-depth assessment of market shares, growth strategies, revenue analysis, and products & services of the leading players in the proteomics market.
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