PUBLISHER: The Business Research Company | PRODUCT CODE: 1429612
PUBLISHER: The Business Research Company | PRODUCT CODE: 1429612
Proteomics involves the examination of the structure and functions of proteins, playing a crucial role in drug discovery, disease diagnosis, and treatment. It is employed to assess the production rate of proteins, the participation of proteins in metabolic pathways, and the modifications undergone by proteins.
The primary categories of proteomics include protein microarrays, spectroscopy, X-ray crystallography, chromatography, electrophoresis, surface plasmon resonance, and protein fractionation. The essential elements utilized in proteomics encompass reagents, instruments, and software, all contributing to proteomic analytical services and instrument services.
The proteomics market research report is one of a series of new reports from The Business Research Company that provides proteomics market statistics, including proteomics industry global market size, regional shares, competitors with a proteomics market share, detailed proteomics market segments, market trends, and opportunities, and any further data you may need to thrive in the proteomics industry. This proteomics market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The proteomics market size has grown rapidly in recent years. It will grow from $30.84 billion in 2023 to $35.21 billion in 2024 at a compound annual growth rate (CAGR) of 14.2%. The expansion observed in the historical period can be ascribed to the escalation in government funding for proteomics research, technological advancements, an upswing in healthcare expenditure, an increase in the number of healthcare facilities, and economic growth in emerging markets.
The proteomics market size is expected to see rapid growth in the next few years. It will grow to $58.61 billion in 2028 at a compound annual growth rate (CAGR) of 13.6%. The anticipated expansion in the forecast period can be linked to the surge in funding for proteomics initiatives, a growing demand for personalized medicine, increased research and development activities, and heightened investments in biotech companies spurred by the COVID-19 outbreak. Key trends expected in the forecast period involve a concentrated effort on utilizing nanotechnology to identify low-abundant samples, the continual development of new technologies, the introduction of novel products, and strategic investments in technologies such as artificial intelligence (AI) and real-time enhanced imaging.
The advancement of the proteomics market is propelled by the increasing allocation of government funds towards proteomics research. Government funding serves as a crucial support for researchers engaged in drug discovery, disease diagnosis, and treatment. A case in point is Proteomics International Laboratories Limited, an Australia-based medical technology company, which, in May 2022, secured $400,000 in funding to enhance its manufacturing capabilities in Australia. This financial support aims to facilitate the production advancement of the PromarkerD test in Australia and South-East Asia, involving the expansion of Proteomics International's specialized ISO 13485 certification. Consequently, the rise in government funds has a positive impact on the proteomics market.
The expanding pharmaceutical industry is anticipated to drive the future growth of the proteomics market. The pharmaceutical sector, dedicated to the research, development, manufacturing, and distribution of drugs and medications, heavily relies on proteomics for drug development. Proteomics plays a vital role in identifying, characterizing, and monitoring proteins for drug targets and biomarker discovery. For example, according to the European Federation of Pharmaceutical Industries and Associations (EFPIA), a Belgium-based trade association, in June 2023, the total pharmaceutical production in Europe reached $400,200 million (€340,000 million) in 2022, indicating an increase from $381,641 million (€323,950 million) in 2021. Hence, the burgeoning pharmaceutical industry acts as a driving force for the growth of the proteomics market.
Companies are introducing new products to augment their revenue streams and gain a competitive advantage over their rivals. As an illustration, in June 2021, Bruker Corporation, a US-based manufacturer of scientific instruments, unveiled two new trapped ion mobility spectrometry time-of-flight (timsTOF) instruments during its 4D-Proteomics eXceed Symposium. These devices, founded on ion mobility separation and mass spectrometry, are poised to bring about advancements in proteomics, epiproteomics/PTM characterization, and deep multiomic biomarker discovery.
Key players in the proteomics market are strategically focusing on the development of precise quantitative analysis kits to enhance their competitive position. These kits are instrumental in accurately measuring protein expression levels and identifying biomarkers across various biological samples. For instance, in January 2023, SCIEX, a US-based manufacturer of mass spectrometry instrumentation, launched the Fast Glycan Labeling and Analysis kit and an update for the Biologics Explorer software. This kit is specifically designed for precise quantitative glycan analysis, while the software update aims to enhance key workflows for the analysis of protein therapeutics. These solutions accelerate the examination and identification of glycans associated with proteins, providing researchers with advanced resources for comprehensive biopharmaceutical analysis. The software empowers researchers to make informed decisions regarding the most suitable analytical methods and tools for their specific applications, ultimately improving the efficiency and effectiveness of protein characterization studies.
In August 2021, Danaher Corporation, a US-based provider of medical, industrial, and commercial products and services, acquired Aldevron LLC for an undisclosed amount. This acquisition is geared towards expanding Danaher Corporation's capabilities in the genomic medicine field and supporting its customers in accelerating the development of life-saving therapies and vaccines for the market. Aldevron LLC, the acquired company, is a US-based biotechnology firm specializing in proteomics.
Major companies operating in the proteomics market report are Danaher Corporation, Thermo Fisher Scientific Inc., Merck KGaA, Agilent Technologies Inc., PerkinElmer Inc., Bruker Corporation, Bio-Rad Laboratories Inc., Promega Corporation, Waters Corporation, Creative Proteomics, Sino Biological, EIAab, DIMA Biotechnology, TechnoConcept India Pvt. Ltd., Cellular & Molecular Biology, GE Healthcare, Perseus Proteomics Inc., JEOL, APTBIO, Leisure Science (Suzhou) Co. Ltd., Centre for Cellular & Molecular Biology, Vproteomics, Shimadzu Corporation, Abcam PLC, IRB Barcelona, SGS UK, MRM Proteomics Inc., FingerPrints, Biognosys AG, Olink Proteomics, Horiba, MS Bioworks, LC Sciences, MtoZ Biolabs, Integrated Proteomics Applications, Quantumbio Inc., Luminex Corporation, Applied Biomics Inc., Isoplexis Corporation, Caprion Proteomics Inc.
North America was the largest region in the proteomics market in 2023. Western Europe was the second largest region in the global proteomics market share. The regions covered in the proteomics market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
The countries covered in the proteomics market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Canada, Spain
The proteomics market consists of sales of proteins that are used for drug discovery, clinical diagnosis, molecular medicine and others. Values in this market are factory gate values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Proteomics Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on proteomics market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for proteomics? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The proteomics market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.
The impact of higher inflation in many countries and the resulting spike in interest rates.
The continued but declining impact of covid 19 on supply chains and consumption patterns.