The latest market report published by Credence Research, Inc. “Proteomics Market – Growth, Future Prospects, Competitive Analysis, 2018 – 2026,” the global proteomics market was valued at US$ 15.1 Bn in 2017 expanding at a CAGR of 10.4% from 2018 to 2026.
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Proteomics is a study of set of protein called as proteomes, produced in an organism or any biological context. Proteomics helps in evaluation of protein interaction, protein production, metabolic pathways and expression of proteins at subcellular level. Proteomics have found vast application in drug discovery, clinical diagnostics, and personalized medicine leading to the market growth during the past years. Detailed analysis of proteomes provides better understanding for the development of drugs targeting specific disease pathways efficiently.
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The discovery of protein biomarkers during disease development and novel drugs for cancer, cardiovascular and neurological diseases have strengthened the proteomics market. There has been a spurt in the adoption of personalized medicines for various chronic diseases have resulted in many biotechnology companies and governmental organizations increasing R&D expenditure on proteomics study for development of effective customized medications.
Development of mass spectrometry based proteomic studies, growing biopharmaceutical companies focus on novel drug discovery auger well for the proteomics market. However, tough regulatory approvals for personalized medicines, scarcity of skilled and qualified research manpower, high cost and long research tenure are some of the challenges faced by the global proteomics market.
In terms of component type, the proteomics market is sub-segmented in to instrument type, consumables & reagent type and services type. Consumables & reagents held the largest share in the global proteomics market in terms of component type owing to high usage of consumables such as kits, strips, and reagents and chemicals for research purposes. Moreover, repeated usage of reagents have augmented the demand of consumables and reagents and projected to continue to grow during the forecast period.
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Growing research and development studies of novel drugs for various diseases will drive the growth of reagents and consumables market. The usage of novel instrumentation technology such as 2D electrophoresis (2DE) for protein profiling is gripping the market due to its cost-effective nature as entire protein sample can be studied using single gel. 2DE market is projected to grow at high rate in the instruments sub-segment due to increased demand for these protein in academic research end-use segment.
In terms of geography, North America accounted for the largest share in the global proteomics market. U.S. has been identified as the most lucrative market for proteomics due to presence of vast diversity in academic research and government funded research for drug discovery. Moreover, U.S. is the spearhead in development of novel drugs for cancer, respiratory diseases and other chronic diseases. Discovery of protein biomarkers is the result of continuous R&D and government funding in the U.S.
Asia Pacific is poised to grow rapidly during the forecast period driven by increased biotechnological research especially in China, Japan and South Korea, strong government support and socioeconomic growth in the region. The major players operating in the global proteomics market include Bio-Rad Laboratories Inc., ThermoFisher Scientific, Waters Corporation, Merck KgaA, PerkinElmer Inc., Bruker Corporation, Caprion Proteomics Inc., GE Healthcare, and Shimadzu Biotech, among others.
Key Market Movements:
- Growing demand for personalized medicine and strong research & development in proteomics for drug discovery
- Supportive funding by government and growing academic research for proteomic based drug discovery
- Strong growth in Asia Pacific powered by rising biotechnology industry and government support
- Development of protein biomarker for chronic diseases to boost proteomics market
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