Global Proteomics Market Overview
The key driver impacting the proteomics market is the growing occurrence of target diseases such as cancer, diabetes, and cardiovascular. For instance, The National Center for Biotechnology Information (NCBI) report presents that almost one in three adults suffers from multiple chronic conditions (MCCs). The WHO report shows that chronic disease accounts for 60% of the worldwide disease burden in 2020. Globally cancer is responsible for the second most leading cause of death, and it accounted for 9.6 million deaths in 2018. Similarly, diabetes is also one of the most prevalent diseases globally. As per the International Diabetic Federation (IDF), In 2019, over 463 million adults (20-79 years) were living with diabetes, and it is likely to reach 700 million by 2045. Moreover, the growing demand for advanced diagnostics in targeted disease treatment contributes to Proteomics's market growth in the coming years.
According to Value Market Research, the global proteomics market size was valued at around USD 24500 million in 2020 and is estimated to grow at a CAGR of about 15% during the forecast period 2021 to 2027.
The increasing R&D expenditure and government funding for proteomics and drug discovery are estimated to augment proteomics in the forecast period. For instance, In 2019, The European Union has awarded 10 million euros to a consortium of 18 European research groups focusing on proteomics research. Similarly, the NIH/NCI 420 - Single-Cell “Unbiased Discovery” Proteomic Technologies funding was declared on July 29th, 2020, will grant 3 to 5 qualified recipients with the opportunity to expand proteomic technologies for untargeted proteome discovery in a usual single-cell. Also, there are considerable funding in the field of drug discovery. Also, there are significant fundings in the area of drug discovery. For example, NIH funding adds to published research linked with every one of the 210 new drugs allowed by the Food and Drug Administration between 2010–2016. The grant funding in total is more than $100 billion for this research. However, the high cost of instruments may hamper the market in the long run. Also, the presence of an ambiguous regulatory framework negatively impacts the market. The current industry trends, such as the increasing popularity of personalized medicines, the rising prominence of nanoproteomics, and technological advancements associated with proteomics components, are expected to offer new lucrative market opportunities for the key players.
The Proteomics market is vast, with many local and global players. The Proteomics market is extensive, with many regional and international players. The important market leaders follow numerous strategies to improve their market position, such as acquisitions, extending product portfolio, contracts, amalgamation, contracts, acquisitions, product upgrades to enlarge their market share across the globe. The significant players studied in the report include Roche Diagnostics, Thermo Fisher Scientific, Inc., Bio-Rad Laboratories, Agilent Technologies Inc., LI-COR, Inc., Danaher Corporation, Thermo Fisher Scientific, Inc., PerkinElmer, Inc., HORIBA, Ltd., Bruker Corporation, Bio-Rad Laboratories, Inc., General Electric (GE), and Waters Corporation and GE Healthcare.
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In this research report, the Proteomics market is segmented by product, service and software, end-user, and region.
Analysis by Product:
By product, the report is categorized into reagents, instruments, and services. The Immunoassay
reagents segment dominates the type segment with over 20% share in 2020. It is due to the widespread research in academic institutes coupled with a high frequency of usage of reagents, kits, chemicals, and strips for the analysis of various biological samples. The easy availability of a broad range of reagents and the requirement for specific, reliable, and rapid detection of diseases at the early stages add growth to the market. Moreover, the growing utilization of immunoassays to enumerate molecules of a biological notice on the basis of specificity and selectivity of antibody reagents generated contribute to the massive demand for reagents segment in the forecast period.
Analysis by Service and Software:
By service and software, the report is categorized into core proteomics services and bioinformatics software & services. The core proteomics services segment dominates the services segment with over 55% share in 2020. It is due to the rising demand as it utilized current and innovative proteomics techniques, the core advances scientific knowledge of disease biogenesis which contributes to improved patient care. Moreover, the increasing importance of such studies for targeted diagnosis and treatment leads to rising demand contributing to Core Proteomics Services segment growth in the forecast period.
Analysis by End-User:
By end-user, the report is categorized into pharmaceutical companies, hospitals, clinical laboratories, academic research laboratories, and other end users. The pharmaceutical companies segment dominates the services segment with over 30% share in 2020. It is due to the rising research and development to develop new drugs worldwide and the increasing prevalence of chronic diseases among the population that leads to more research on developing effective drugs. Moreover, the rising outsourcing of research activities to diverse pharmaceutical companies with in-house CRO services contributing to high market demand from pharmaceutical companies segment growth in the forecast period.
Analysis by Region:
In the regional outlook of the global Proteomics market, the North America region dominates globally with a 35% market share in the forecast period. It is due to the increase in popularity and adoption of personalized medicines with the presence of sophisticated healthcare infrastructure, a large base of the target population, and the presence of key industry players in this region. Moreover, favorable government funding & initiatives to develop novel therapeutics contributes to tremendous market growth across North America.
Market Segmentation covered in the Report:
By Product
- Instruments
- Reagents (Microarray, Spectrometry, X-ray crystallography, Chromatography, Electrophoresis, Immunoassay, Protein Fractionation Reagent)
- Services
By Service and Software
- Core Proteomics Services (Protein Identification Services, Protein Characterization Services, Quantitative Proteomic Services, Protein Purification Services, Protein Sequencing Services, Custom Assay Services)
- Bioinformatics Software & Services (Bioinformatics Software, Bioinformatics Tools, Bioinformatics Databases)
By End User
- Hospitals
- Clinical Laboratories
- Pharmaceutical Companies
- Academic Research Laboratories
- Other
By Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
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