The report "Proteomics Market is projected to reach USD 55.9 billion by 2026, at a CAGR of 16.6% during the forecast period. 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 Ramp;D expenditure by pharmaceutical and biotechnology companies, increasing government funding, and technological advancements are also propelling the market growth. However, the drawbacks related to data management and storage, the high cost of instruments, and the disconnect between biomarker discovery and their subsequent approval are some of the major market challenges.
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Drivers: Rising prevalence of cancer and associated genetic disorders
In the past decade, several significant discoveries were made in the field of life sciences, completion of the sequencing of the human genome being one of them. The next significant biomedicine milestone was the characterization of human protein, which is a relatively new and extremely dynamic branch of science focused on the evaluation of gene expression at the proteome level. With limited research performed in proteomics to date, current proteomics is limited to deal with several issues such as protein identification, quantification, characterization of post-translational modification, structure and function elucidation, and description of possible interactions. However, with increasing research efforts, both monetary and technical, the field of proteomics is expected to incorporate technologies that can be applied to serum and tissue samples in order to extract important biological information in the form of biomarkers to aid clinicians and scientists in understanding the dynamic biology of their system of interest, such as patients with cancer.
Opportunities: Increasing prominence of nanoproteomics
The field of nanotechnology has been associated with several proteomics applications such as phosphoproteomics/metal oxide nanoparticles, nanostructured surfaces for protein separation, and analytical detection of biomarker proteins using array techniques. This has led to the emergence of nanoproteomics, a science involving the application of proteomics techniques aided by nanotechnology. This technique is utilized as a complementary component to revolutionize proteomics through different kinds of nanotechnology applications, including nanoporous structures, functionalized nanoparticles, quantum dots, and polymeric nanostructures.
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The core proteomics services segment accounted for the largest share of the proteomics market, by product segment, in 2020
Based on service and software, the proteomics market is segmented into core proteomics services and bioinformatics software services. In 2020, the core proteomics services segment accounted for the largest share of the global proteomics market. Core proteomics services form the basis of proteomics and are highly adopted at every stage of proteome analysis.
Clinical Diagnostics segment to register the largest share during the forecast period
Based on applications, the proteomics market is segmented into drug discovery, clinical diagnostics, and other applications. In 2020, the clinical diagnostics segment accounted for the largest share of the proteomics market. This can be attributed to the increased understanding of the relevance of investigating and understanding patterns of protein expression for disease diagnostics and drug development.
Immunoassay reagents segment accounted for the largest share of the proteomics market, by reagents
The proteomics market, by reagent, is segmented into protein microarray reagents, spectroscopy reagents, X-ray crystallography reagents, chromatography reagents, electrophoresis reagents, immunoassay reagents, and protein fractionation reagents. In 2020, the immunoassay reagents segment accounted for the largest share of the market. The large share of this segment can be attributed to the availability of a wide range of reagents and the need for reliable, specific, and fast detection of diseases at the early stages.
Pharmaceutical companies segment accounted for the largest share in the market, by end user
Based on end users, the proteomics market is segmented into hospitals, clinical laboratories, pharmaceutical companies, academic research laboratories, and other end users. In 2020, the pharmaceutical companies segment accounted for the largest share of the market. The large share of this segment can be attributed to the increasing research funding for genomics and proteomics research and the increasing outsourcing of research activities to various pharmaceutical companies with in-house CRO services.
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Key Market Player:
The major players operating in this market are Thermo Fisher Scientific Inc. (US), Bio-Rad Laboratories, Inc. (US), Merck KGaA (Germany), Agilent Technologies, Inc. (US), Bruker Corporation (US), Danaher Corporation (US), GE Healthcare (US), Luminex Corporation (US), PerkinElmer Inc. (US), Waters Corporation (US), Illumina, Inc. (US), Eurofins Scientific (Luxembourg), QIAGEN Bioinformatics (Netherlands), Creative Proteomics (US), Promega Corporation (US), Sengenics (Singapore), Biomax Informatics AG (Germany), MS Bioworks LLC (US), WuXi NextCODE (China), Fios Genomics Ltd. (UK), GENEWIZ (US), Biognosys AG (Switzerland), Bioproximity (Switzerland), MRM Proteomics Inc. (Canada), Integrated Proteomics Applications (US), Poochon Scientific, LLC (US), Proteome Factory AG (Germany), VProteomics (India), HORIBA, Ltd. (Japan), and Applied Biomics, Inc. (US).
North America is the largest regional market for proteomics market
The global proteomics market is segmented into North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa. In 2020, North America accounted for the largest market share. This can be attributed to the increasing investments in the development of structure-based drug design, growing research in the field of omics, rising demand for high-quality research tools for data reproducibility, and increasing focus on developing personalized therapeutics. The presence of a large number of global players in this region is also supporting the growth of this market.
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