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Mar 20, 2023

Proteomics Market worth $72.9 billion

News provided by 31 May, 2023, 13:00 ET Share this article CHICAGO, May 31, 2023

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31 May, 2023, 13:00 ET

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CHICAGO, May 31, 2023 /PRNewswire/ -- The proteomics industry is poised for significant growth and advancements in the near future. Proteomics, the study of proteins and their functions within biological systems, plays a crucial role in understanding disease mechanisms, identifying therapeutic targets, and developing personalized medicine approaches. With advancements in technology and analytical techniques, the proteomics industry is expected to witness remarkable progress. One of the key areas of growth is the development of high-throughput proteomics platforms that enable the analysis of large numbers of proteins simultaneously. This allows for a comprehensive understanding of complex protein networks and their interactions, leading to insights into disease pathways and potential biomarkers. Additionally, advancements in mass spectrometry and bioinformatics tools are enhancing the accuracy and speed of protein identification and quantification. This enables researchers to delve deeper into proteomic data and extract meaningful information for drug discovery, precision medicine, and diagnostics. Moreover, the integration of proteomics with other omics technologies, such as genomics and metabolomics, holds immense potential for gaining a holistic understanding of biological systems and disease processes. Overall, the proteomics industry is expected to contribute significantly to advancements in medical research, diagnostics, and therapeutic development, ultimately leading to improved patient outcomes in the near future.

Proteomics Market in terms of revenue was estimated to be worth $36.8 billion in 2023 and is poised to reach $72.9 billion by 2028, growing at a CAGR of 14.6% from 2023 to 2028 according to a new report by MarketsandMarkets™. Factors such as 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 are driving the growth of this market. However, challenges associated with data management are the major factors restraining the growth of this market.

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Browse in-depth TOC on "Proteomics Market"707 - Tables49 - Figures604 - Pages

Proteomics Market Scope:

Report Coverage

Details

Market Revenue in 2023

$36.8 billion

Estimated Value by 2028

$72.9 billion

Growth Rate

Poised to grow at a CAGR of 14.6%

Market Size Available for

2021-2028

Forecast Period

2023–2028

Forecast Units

Value (USD Billion)

Report Coverage

Revenue Forecast, Competitive Landscape, Growth Factors, and Trends

Segments Covered

Instrumentation Technologies, Reagents, Software & Services, Applications, and End User

Geographies Covered

North America, Europe, Asia Pacific, Latin America, and Middle East & Africa

Report Highlights

Updated financial information / product portfolio of players

Key Market Opportunities

High growth opportunities for proteomics research in emerging countries

Key Market Drivers

Technological Advancement in proteomics is likely to propel the market growth

Spectroscopy accounted for the largest share of the instrumentation technologies segment in the proteomics market in 2022.

Based on 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. In 2022, spectroscopy accounted for the largest share of the proteomics market for instrumentation technologies. This segment's large share can be attributed to factors such as being widely utilized for studying proteins, their structures, interactions, and functions. Spectroscopic techniques provide valuable insights into the properties of proteins, including their secondary and tertiary structures, conformational changes, and ligand binding.

Mass spectrometry technology accounted for the largest share of the type segment in the proteomics market in 2022.

Based on type, spectroscopy instrumentation technology is categorized into three sub-segments— mass spectrometry (MS), NMR spectroscopy, and circular dichroism (CD) spectroscopy. In 2022, mass spectrometry accounted for the largest share of the spectroscopy instrumentation technology segment. Factors such as the MS can analyze large numbers of samples in a short period of time, making it ideal for large-scale proteomics studies is attributed to its large share.

Gel electrophoresis technology accounted for the largest share of the type segment in the proteomics market in 2022.

Based on type, electrophoresis instrumentation technology is categorized into two sub-segments— Gel and capillary electrophoresis. In 2022, gel electrophoresis accounted for the largest share of the electrophoresis instrumentation technology segment. Factors such as the increasing demand for gel electrophoresis in proteomics research and personalized medicine is a major factor driving the growth of the overall gel electrophoresis market.

Asia Pacific is likely to grow at the highest growth rate during the forecast period.

Based on the region The global proteomics market is segmented into North America, Europe, the Asia Pacific, Latin America, and the Middle East & Africa. North America is the largest regional segment. The Asia Pacific region is estimated to grow at the highest CAGR in the proteomics market during the forecast period. The growth of the pharmaceuticals and life sciences market in the region is primarily driven by the rising prevalence of chronic disease conditions, the rising R&D expenditure, especially in the area of drug discovery & development, and significant investments in the development of therapeutics mAbs.

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Proteomics Market Dynamics:

Drivers:

Restraints:

Opportunities:

Challenges:

Key Market Players:

Some of the prominent players in the proteomics market are Thermo Fisher Scientific, Inc. (US), Danaher Corporation (US), Merck KGaA (Germany), Agilent Technologies, Inc. (US), and Waters Corporation (US) and among others.

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Recent Developments:

Proteomics Market Advantages:

Overall, the proteomics market provides a range of advantages that contribute to advancements in medical research, diagnostics, and personalized medicine. It holds immense potential for improving disease understanding, patient care, and the development of targeted therapies in the future.

Proteomics market - Report Highlights:

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