Proteomics Market worth $60.5 billion by 2029
The report "Proteomics Market by Instrumentation (Mass Spectrometry, HPLC, Electrophoresis, Protein Microarray (Protein Chips), Reagents (Immunoassay), Services (Purification, Bioinformatics), Software, Application (Clinical, Drug Discovery) - Global Forecast to 2029", global proteomics market is predicted to reach USD 60.5 billion by 2029 from 33.6 billion in 2024, growing at a CAGR of 12.4%
Browse 707 market data Tables and 49 Figures spread through 578 Pages and in-depth TOC on "Proteomics Market by Instrumentation (Mass Spectrometry, HPLC, Electrophoresis, Protein Microarray (Protein Chips), Reagents (Immunoassay), Services (Purification, Bioinformatics), Software, Application (Clinical, Drug Discovery) - Global Forecast to 2029"
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The global proteomics market is driven by several key factors such as investments in the development of structure-based drug design, growing research in the field of omics, demand for high-quality research tools for data reproducibility, and increasing focus on developing personalized therapeutics. However, challenges associated with data management is likely to hamper the market growth.
Spectroscopy segmented dominated the proteomics market in 2023.
Based on technology, the proteomics market is broadly segmented into spectroscopy, chromatography, electrophoresis, protein microarrays, X-ray crystallography, surface plasmon resonance, protein fractionation, and other technologies. The spectroscopy is further segmented into Mass Spectrometry, NMR Spectroscopy, CD Spectroscopy. The Chromatography is further divided into HPLC, ION Chromatography, Affinity Chromatography and Supercritical Fluid Chromatography. The spectroscopy segment accounted for the largest share of the technology segment of the proteomics market in 2023 followed by chromatography segment. The dominance of the segment is attributable to high accuracy and sensitivity through spectroscopy techniques for complex protein structures, increased use of the spectroscopy in biomarker discovery, drug development, and clinical diagnostics.
Clinical diagnostics segment is likely to grow at the highest CAGR during the forecast period of 2024-2029.
Based on applications, the market is segmented into clinical diagnostics, drug discovery & development and other applications. Clinical diagnostics dominated the market in 2023 owing to various factors such as use of proteomics in personalized medicine, demand for proteomics for identification and validation of protein biomarkers associated with various diseases. These biomarkers can be used for early diagnosis, prognosis, and monitoring of disease progression.
Asia Pacific region is likely to grow at highest CAGR during the forecast period.
Based on region, the proteomics market is segmented into North America, Asia Pacific, Europe, Latin America, the Middle East and Africa. In 2023, North America dominated the market, the dominance of region is attributed to increasing investments in the development of structure-based drug designs; growing academic and governmental investments in genomics and proteomics research; rising demand for high-quality research tools for data reproducibility; and rising stakeholder focus on research projects involving proteins, their associated biomolecules, and genes. On the rising end, focus on the development of antibody-based therapeutics further adds to this market growth. Asia Pacific region is anticipated to grow at highest CAGR owing to various factors such as a high prevalence of chronic diseases, rising R&D expenditure particularly in drug discovery and development and substantial investments being made in the development of therapeutics mAbs.
Key players in the proteomics market include Thermo fisher Scientific Inc (US), Agilent Technologies, Inc. (US), Merck KGaA (Germany), Danaher Corporation (US), Waters Corporation (US), Bio-Rad Laboratories, Inc. (US), Bruker Corporation (US), Revvity (US), Shimadzu Corporation (Japan), Illumina Inc (US), Promega Corporation (US), Eurofins (Luxembourg), Qiagen (Netherlands), Charles River Laboratories (US), Protagene (Germany), Creative Proteomics (US), Horiba (Japan), Sengenics Corporation LLC (US), Labvantage-Biomax GmbH (Germany), Cell Signaling Technology, Inc. (US), FIOS Genomics (UK), Azenta Life Sciences (US), Medgenome (India), Biognosys AG (Switzerland) and Macrogen Inc (South Korea).
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