Proteomics Market is Projected To Reach USD 98,051.83 Million By 2031, Growing At A CAGR of 15.2% | Valuates Reports
BANGALORE, India, Jan. 25, 2023 /PRNewswire/ -- Proteomics Market by Component (Reagents, Instruments, Services), by Application (Drug Discovery, Disease Diagnosis, Others). Global Opportunity Analysis and Industry Forecast, 2021 - 2031. It is published in Valuates Reports under the Pharmaceuticals & Biotech Category.
The global Proteomics Market Size was valued at USD 23,654.34 million in 2021 and is projected to reach USD 98,051.83 million by 2031, growing at a CAGR of 15.2% from 2022 to 2031.
Major factors driving the growth of the Proteomics Market are
The Proteomics Market will grow as more emphasis is placed on product usage in medication creation, biomarker discoveries, and clinical diagnostics for the diagnosis and treatment of diseases.
The protein research being carried out to treat COVID-19 patients is also favorable to the Proteomics Market expansion. Furthermore, the rise in the need for customized medications, and the increase in R&D spending will further boost the proteomics market growth.
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TRENDS INFLUENCING THE GROWTH OF THE PROTEOMICS MARKET
Diagnostic and therapeutic methods in medicine have evolved from being a one-size-fits-all science to treating each patient as an individual. Currently, only genetic analysis is possible. However, a patient's reaction to the illness and treatment is influenced by epigenetic, transcriptional, proteomic, posttranslational alterations, metabolic, and environmental variables. The customized medicine program evolves into precision medicine, providing a comprehensive understanding of the patient's condition, as additional analytical and diagnostic methods are included in clinical practice. Precision medicine can benefit from proteomics because of the great accuracy and sensitivity of mass spectrometric analysis of proteomes. This factor is expected to drive the growth of the proteomics market.
An observable indicator of a normal or pathological biological condition in the body is referred to as a biomarker. Cancer biomarkers are used in clinical settings to monitor the progression of cancer and how well it responds to treatment. Biomarker discovery involves the use of 2D-PAGE. Additionally, it has the ability to contrast the protein profiles of healthy and diseased cells, including tumor tissues and bodily fluids. Based on their intended purposes, cancer biomarkers are categorized into three classes: diagnostic, prognostic, and predictive. The outcome of therapy can be predicted using predictive biomarkers. This in turn is expected to drive the growth of the proteomics market
Drug discovery is a multi-stage, complex process that involves chemical, functional, and clinical proteomics-based methods. The use of proteomics in drug discovery has expanded to include the treatment and care of patients. Because 2-DE cannot separate the membrane proteins that describe around 50% of significant drug targets, it cannot be employed in drug development. Moreover, low-abundance proteins cannot be found with 2-DE. Understanding the role of proteins and their interactions in a mixture is crucial for drug discovery proteomics. Detection of low-abundance proteins and their activity should also be possible using these techniques. Because of this, phage proteins have been identified and separated using a variety of technologies, including MS and protein chips. This is expected to increase the growth of the proteomics market.
Additionally, the rise in demand for tailored medicines for specific diseases has made R&D operations in the field of proteomics, improved healthcare services, and considerable government investments in healthcare infrastructure into a crucial tool for small and large firms internationally. This is thought to help the market continue to grow. Proteomics is in demand not just in developed nations but also in underdeveloped nations like China, Brazil, and India, which is what is driving the Proteomics Market Size.
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PROTEOMICS MARKET SHARE ANALYSIS
The reagents segment generated the highest revenue in 2021 and is projected to grow at a CAGR of 15.5% during the forecast period. Because reagents are frequently used in academic research facilities and research labs to analyze a variety of biological samples, the reagent segment has the largest Proteomics Market Share in 2021 and is anticipated to maintain its dominance throughout the forecast period. This increased demand for reagents drives the market's expansion.
The drug discovery segment dominated the global proteomics applications market accounting for nearly 15.8% of the market share in 2021. It is predicted that over the projected period, the drug discovery segment will continue to dominate the global market, as it did in 2021. The reason for this is that advances in proteomics have made it possible for researchers to create drugs that are tailored for various individuals in order to achieve greater effectiveness and fewer negative effects.
The proteomics market was dominated by North America in 2021 and is anticipated to continue to do so during the forecast period. Market expansion is anticipated to be fueled by the presence of numerous significant players, a well-developed healthcare infrastructure, and an increase in the usage of personalized medications.
Due to an increase in the outsourcing of proteomics-based projects, public and private funding for research and development for proteomics studies, favorable government regulations, rising prevalence of target diseases with an aging population, and rising proteomics adoption, Asia-Pacific presents profitable opportunities for key players operating in the proteomics market, which results in registering the fastest growth rate during the forecast period.
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Market By Region
- North America
- Europe
- Asia-Pacific
- Latin America
- Middle East & Africa
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Key players
- Thermo Fisher Scientific Inc
- Agilent Technologies Inc
- Bruker Corporation
- Waters Corporation
- Merck KGaA
- Bio-Rad Laboratories Inc
- LI-COR, Inc
- Perkin Elmer, Inc.
- Danaher Corporation
- Horiba Ltd
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