The Global Market for Proteomics is Forecast to Reach US$30.5 Billion by 2024

Rapid Technological Advancements and Rising R&D Funding Drive the Global Proteomics Market, According to a New Report by Global Industry Analysts, Inc.

                                                                                                

GIA launches comprehensive analysis of industry segments, trends, growth drivers, market share, size and demand forecasts on the global Proteomics market. The global market for Proteomics is forecast to reach US$30.5 billion by the year 2024, driven by rapid technological advancements, increasing R&D funding from various governments, extensive usage to analyze target proteins for diagnosing various diseases, and growing emphasis on personalized medicine.

The global proteomics market is witnessing rapid technological advancements, and increasing R&D funding from various governments. Advanced proteomics solutions are finding extensive application in diagnostic services, drug discovery, and other research fields. Proteomics is a promising approach towards personalized medicine to treat several diseases, such as diabetes, obesity, fatty liver, neurological diseases, and cancer. The proteomics market is also benefitting from increasing penetration of technologies, such as ElectroSpray Ionization-Liquid Chromatography-Mass Spectrometry (ESI-LC-MS). Researchers globally are using sophisticated technologies, such as mass spectrometry, protein fractionation systems, surface plasma resonance, microarray, chromatography, and X-ray crystallography for comprehensive analysis of proteins. The approach allows researchers to view cellular and molecular functions for understanding complex biological processes. These efforts towards targeted diagnosis as well as treatment are driving the adoption of proteomics.

The development of advanced dual mass analyzers, such as FT-MS, GC/MS, LC/MS, and MALDI-TOF/TOF, along with improvements in gel electrophoresis and liquid chromatography, and the availability of sophisticated algorithms to enable database searching are facilitating proteomics research.  Recent developments, such as multiple reactions monitoring, are allowing researchers to quantify proteins in cerebrospinal fluid to identify later phases of multiple sclerosis. Moreover, proteomics is anticipated to be extensively used to analyze target proteins for diagnosing various diseases. In addition, organizations, including the Human Proteome Organization, are encouraging the development of advanced technologies and training related to proteomics. Proteomics R&D is receiving policy and regulatory support from several governments. While the Center for Biologics Evaluation and Research approves proteomics-based biological products after validating their efficacy and safety, the US FDA is evaluating the significance of analytical proteomic tools to characterize biological solutions and validate biomarkers. However, the lack of skilled researchers and high cost of instruments are restraining market growth.

As stated by the new market research report on Proteomics, the United States represents the largest market worldwide, followed by Europe. Emerging economies of Asia and Latin America are poised to fuel future growth in the market supported by socioeconomic growth, increased focus on biotechnological research, strong government support, and increased outsourcing of proteomics services to Asian countries.

Major players in the market include ActivX Biosciences Inc., Agilent Technologies Inc.,  Bio-Rad Laboratories Inc.,  Bruker Daltonics Inc., Caprion Biosciences Inc.,  Digilab Inc., GE Healthcare, Geneva Bioinformatics S.A.,  Merck KGaA, PerkinElmer Inc., Shimadzu Corp., Millipore Sigma, Thermo Fisher Scientific Inc., Waters Corp., and Xencor Inc., among others.

The research report titled “Proteomics: A Global Strategic Business Report” announced by Global Industry Analysts Inc., provides a comprehensive review of market trends, growth drivers, challenges and issues, mergers and acquisitions, and other strategic industry activities of major global and niche companies. The report provides market estimates and projections for all major geographic markets, such as the United States, Canada, Japan, Europe (France, Germany, Italy, UK, and the Rest of Europe), Asia-Pacific, Latin America, and Rest of World.

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