Proteomics Market Revenue Growth Riding On Personalized Medicine Trend: Reports and Data
NEW YORK, Sept. 16, 2021 /PRNewswire/ -- The global proteomics market size was USD 22.17 billion in 2020 and is expected to reach USD 65.91 billion in 2028 and register a revenue CAGR of 14.5% during the forecast period 2021-2028, according to latest study and analysis by Reports and Data. Increasing prevalence of genetic disorders, advancements in genomics and proteomics research, and rising focus on personalized medicine to treat chronic diseases are major factors that have been contributing significantly to market revenue growth.
Other major factors driving market growth include rising prevalence of genetic disorders, advancements in genomics and proteomics research, and rising focus on personalized medicine to treat chronic diseases. In addition, major pharmaceutical and biotechnology companies and investing substantially to accelerate R&D activities and increasing application of proteomics in drug discovery process.
Increasing application of proteomics in cancer research and to understand molecular mechanisms of normal and disease phenotypes are some key factors driving market growth
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Following the COVID-19 outbreak in China in late 2019, the pandemic raged across the globe. There was a fevered race against time as companies and research organizations across the globe went into overdrive to develop a vaccine. The first human trial for a vaccine began on 6 March 2020, and the pace of vaccine development could not have been feasible and as rapid as it was had it not been for a combined proteomics and genomics approach against the SARS-CoV-2.
Proteomic technologies have advanced into numerous areas of drug discovery and development as it enables a comparative assessment of normal and diseased-state tissues, expression profiling, pharmacogenomics, and identification of biomarkers. Majority of small molecule drugs and biologics act on protein targets and this has further boosted use of proteomics technologies in biomarker discovery, target identification, validation, and lead optimization, among others.
In addition, proteomics has been playing a crucial role in development of personalized medicine by enhancing detection of protein biomarkers and protein-based molecular diagnostics. Integration of nanotechnology and proteomics has further enhanced its application in personalized medicine.
To identify the key trends in the industry, research study at https://www.reportsanddata.com/report-detail/proteomics-market
According to analysis by Reports and Data, North America is expected to account for largest revenue share in the global market over the forecast period, attributed to increasing research and development activities, advancements in drug discovery and research and biomarker identification, rising focus on personalized medicine owing to increasing incidence of chronic diseases such as cancer, and others, and presence of key players in the region.
Key Highlights from the Global Proteomics Market Report:
- North America is expected to account for largest revenue share going ahead owing to increasing R&D activities, presence of state-of-the-art healthcare infrastructure, and implementation of favorable reimbursement policies in the United States and Canada.
- Asia Pacific is expected to register significantly rapid revenue growth over the forecast period, driven by increasing patient pool of cancer and genetic diseases in China, India, and Japan.
- Europe accounted for a 31.4% revenue share in the global market in 2020 attributed to increasing healthcare expenditure and progress of pharmaceutical sector in the region
- Drug discovery segment is expected to dominate other application segments over the forecast period due to rising application of proteomics technology in target validation and verification and identification of toxicity and efficiency of drug candidates.
Major Factors Driving Revenue Growth of the Global Proteomics Market:
- Increasing application of proteomics in development of personalized medicine for management of chronic and rare diseases
- Increasing global patient pool of cancer and genetic diseases is driving demand for advanced molecular diagnostics procedures
- Rising availability of funding and increasing investments by major companies to accelerate genomics and proteomics research
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Competitive Landscape:
The global proteomics market is slightly fragmented with major players operating on both regional and global scale. Key companies in the market include Agilent Technologies, Inc., Danaher Corporation, Bio-Rad Laboratories, Inc., Thermo Fisher Scientific, Inc., Merck KgaA, PerkinElmer, Inc., Promega Corporation, Waters Corporation, Bruker Corporation, and GE Healthcare.
Major players operating in the market are engaged in forming strategic alliances such as partnerships, collaborations, and mergers & acquisitions to cater to growing global demand and gain a robust footing in the market. Extensive R&D, regulatory approvals, and increasing product launches have further contributed to revenue growth of the market. Some key developments in the market include:
- In September 2021, Biognosys, which is a global leader in next-generation proteomics technology, announced a strategic collaboration with prominent life science company, Evotec to advance adoption of next-gen proteomics in drug discovery and clinical research. Under the partnership, Evotec will be using Biognosys' data analysis platform that employs AI and ML algorithms to translate data into actionable insights for clinical research.
- In September 2021, SomaLogic announced a partnership with healthcare provider, UPMC, to understand how the proteomics platform developed by SomaLogic can be used to enhance clinical outcomes.
- In September 2021, Alamar Biosciences, Inc., which is a precision proteomics company that enhances sensitivity and scales up proteomics analysis, announced it had raised USD 80 million in Series B round of funding, which will be used to accelerate development of the company's proprietary proteomics platform.
Some of the Key Companies Operating in the Market and Profiled in the Report are:
- Agilent Technologies, Inc.
- Danaher Corporation
- Bio-Rad Laboratories, Inc.
- Thermo Fisher Scientific, Inc.
- Merck KgaA
- PerkinElmer, Inc.
- Promega Corporation
- Waters Corporation
- Bruker Corporation
- GE Healthcare
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Segments Covered in the Report:
The latest report on the global proteomics market published by Reports and Data offers a detailed segmentation of the market for the forecast period 2021-2028. The global proteomics market has been segmented on the basis of product, technology, application, and region:
Product Outlook (Revenue, USD Billion; 2018-2028)
- Instruments
- Reagents
- Services
Technology Outlook (Revenue, USD Billion; 2018-2028)
- X-Ray Crystallography
- Chromatography
- Microarray Instruments
- Protein Fractionation Systems
- Surface Plasma Resonance (SPR) Systems
- Electrophoresis
- Spectroscopy
Application Outlook (Revenue, USD Billion; 2018-2028)
- Clinical Diagnosis
- Drug Discovery
- Others
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Regional Outlook (Revenue, USD Billion; 2018-2028)
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- U.K.
- France
- Italy
- BENELUX
- Rest of Europe
- Asia Pacific
- China
- India
- Japan
- South Korea
- Rest of APAC
- Latin America
- Brazil
- Rest of LATAM
- Middle East & Africa
- Saudi Arabia
- U.A.E.
- South Africa
- Rest of MEA
Key Points Covered in the Global Proteomics Market Report:
- Detailed insights into demand outlook and market dynamics of the proteomics market for the forecast period 2021-2028
- Extensive analysis of the key market players along with company overview, product portfolio, and strategic alliances such as mergers & acquisitions, joint ventures, partnerships, collaborations, and brand promotion, among others
- Comprehensive assessment of market drivers, restraints, opportunities, threats, and growth prospects along with assessment of market size and revenue growth
- Detailed regional analysis covering assessment of market size, market share, and revenue growth in major countries of each region
- Strategic recommendations to key market players and new entrants to help them overcome barriers and gain a robust footing in the market
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