Dublin, June 12, 2023 (GLOBE NEWSWIRE) -- The "Proteomics Market by Product (Spectroscopy, Chromatography, Electrophoresis, X-Ray Crystallography), Reagent, Service, (Core Proteomics, Bioinformatics), Application (Diagnostic, Drug Discovery), End User (Hospital, Labs, Biopharma) - Global Forecast to 2028" report has been added to ResearchAndMarkets.com's offering.
The global proteomics market size is projected to reach USD 72.9 billion by 2028 from USD 36.8 billion in 2023, at a CAGR of 14.6%
Factors such as increasing government funding for R&D projects to develop new therapeutics and protein-based drugs and the growing demand for personalized and efficient therapeutics, support the demand for proteomics products & services, and drive the market growth at a faster pace.
The spectroscopy segment is likely to grow at the highest CAGR during the forecast period of 2023-2028.
On the basis of instrumentation technologies, the proteomics market is broadly segmented into spectroscopy, chromatography, electrophoresis, protein microarrays, X-ray crystallography, surface plasmon resonance, protein fractionation, and other technologies. The spectroscopy segment is projected to grow at the highest CAGR during the forecast period.
The growth is attributed to the factor that the technique is widely employed in protein analysis to elucidate the protein structure (size, shape, secondary, or tertiary conformations), quantification, and interactions with molecules such as ligands, solutes, or other proteins.
The biochips sub-segment is likely to grow at the highest CAGR during the forecast period of 2023-2028.
On the basis of instrumentation technology protein microarray, the proteomics market is broadly segmented into biochips and microarray instruments.
The biochips segment is projected to grow at the highest CAGR during the forecast period. The growth is attributed to the several advantages in proteomics research, including high-throughput analysis, multiplexing, sensitivity, specificity, reduced sample requirements, and automation.
The pharmaceutical & biotechnological companies segment is likely to grow at the highest CAGR during the forecast period of 2023-2028.
Based on end users, the proteomics market is segmented into hospitals, clinical laboratories, pharmaceutical companies, academic research laboratories, and other end users like CDMOs, and CROs. The pharmaceutical & biotechnological companies segment held a dominant share of the proteomics market, in 2022.
The large share of this segment is attributed to the growing focus of pharma giants on core activities like increasing R&D for the discovery & development of new molecules. This is one of the major factors anticipated to project market growth.
Asia Pacific region is likely to grow at a faster pace.
In 2022, North America accounted for the dominant share of the proteomics market. The dominance of the region is attributable to various factors such as the presence of leading players in the region coupled with the ongoing research activities of developing new targeted therapies.
Asia Pacific region is likely to grow at a faster pace owing to various factors such as the growing awareness of personalized therapeutics, rising government initiatives for generic medicines in the region, and the emergence of new market players in the proteomics market.
Competitive assessment
In-depth assessment of market shares, growth strategies, and product & service offerings of leading players like Thermo Fisher Scientific, Inc. (US), Danaher Corporation (US), Merck KGaA (Germany), Agilent Technologies, Inc. (US), and Waters Corporation (US) and among others in the proteomics market.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 578 |
| Forecast Period | 2023 - 2028 |
| Estimated Market Value (USD) in 2023 | $36.8 Billion |
| Forecasted Market Value (USD) by 2028 | $72.9 billion |
| Compound Annual Growth Rate | 14.6% |
| Regions Covered | Global |
Premium Insights
- Rising Investments in Pharmaceutical R&D to Drive Market
- Clinical Diagnostics Accounted for the Largest Share of the North American Market in 2022
- Gel Electrophoresis to Dominate Market in 2028
- Pharmaceutical Companies Accounted for Largest Market Share in 2022
- Asia-Pacific to Register Highest Growth in Market During Study Period
Market Dynamics
Drivers
- Increasing Demand for Personalized Medicines for Clinical Practices
- Rising Incidences of Chronic Diseases Among Geriatric Population
- Increased Investments in Research and Greater Adoption of Proteomics in Drug Discovery
- Technological Advancements in Proteomics
Restraints
- High Costs of Proteomics Instruments and Technologies
- Lack of Standardization in Proteomics Workflow Among Research Groups
Opportunities
- High Growth Opportunities for Proteomics Research in Emerging Countries
- Growing Prominence of Nano Proteomics in Biological Processes
Challenges
- Low Biomarker Discovery to Approval Ratio in Proteomics Research
- Lack of Data Management/Handling in Proteomics Research
Pricing Analysis
- Average Selling Price of Proteomics Products (2022)
- Perkinelmer: Selling Price of Various Products/Services
- Merck: Selling Price of Various Products/Services
Technology Analysis
- Comparison of Modern Proteomics Analysis Methods
- Commonly Used Bioinformatics Tools in Proteomics
- Technologies Launched Recently in Proteomics
Company Profiles
Key Players
- Thermo Fisher Scientific Inc.
- Agilent Technologies, Inc.
- Merck KGaA
- Danaher
- Waters Corporation
- Bio-Rad Laboratories, Inc.
- Bruker Corporation
- Perkinelmer, Inc.
- Shimadzu Corporation
- Illumina, Inc.
- Promega Corporation
- Eurofins Scientific
- Qiagen N.V.
- Charles River Laboratories
- Protagene Protein Services
Other Players
- Creative Proteomics
- Horiba Corporation
- Sengenics
- Biomax Informatics Ag
- Wuxi Nextcode
- Fios Genomics
- Genewiz
- Medgenome Labs
- Biognosys Ag
- Macrogen Inc.
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