DUBLIN, June 12, 2023 /PRNewswire/ — 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% during the forecast period.
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.
The proteomics market is divided into North America, Europe, the Asia Pacific, Latin America, and the Middle East & Africa. 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.
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
Companies Mentioned
- Agilent Technologies, Inc.
- Bio-Rad Laboratories, Inc.
- Biognosys Ag
- Biomax Informatics Ag
- Bruker Corporation
- Charles River Laboratories
- Creative Proteomics
- Danaher
- Eurofins Scientific
- Fios Genomics
- Genewiz
- Horiba Corporation
- Illumina, Inc.
- Macrogen Inc.
- Medgenome Labs
- Merck KGaA
- Perkinelmer, Inc.
- Promega Corporation
- Protagene Protein Services
- Qiagen N.V.
- Sengenics
- Shimadzu Corporation
- Thermo Fisher Scientific Inc.
- Waters Corporation
- Wuxi Nextcode
For more information about this report visit https://www.researchandmarkets.com/r/gr2jyo
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