Proteomics Market Anticipated to Grow at CAGR of 17.6% by 2033 | Persistence Market Research
Persistence Market Research
8 min read
Proteomics plays a crucial role in developing targeted therapies and diagnostics tailored to individual patients genetic makeup and protein expression.
New York, Jan. 17, 2024 (GLOBE NEWSWIRE) -- The high prevalence of target diseases and the rising demand for personalised medicines and advanced diagnostics in the treatment of targeted diseases are key factors promoting market growth. The market will grow as more focus is given to product usage in drug discovery, biomarker research, and clinical diagnostics for the detection and treatment of diseases. Worldwide revenue from the proteomics market was about US$ 30.8 Billion in 2022, with the global market estimated to surge ahead at a CAGR of 17.6% to reach a valuation of US$ 181.5 Billion by the end of 2033.
For example, in June 2022, scientists at the Indian Institute of Science in Bangalore developed a special kind of tiny proteins that can fight viruses like SARS-CoV-2. These proteins can also group together virus particles to make them less harmful and prevent them from entering human cells. This kind of research and development is expected to boost the market even further.
Another reason for the market's growth is the increase in chronic diseases like cancer, heart problems, and respiratory diseases. In December 2020, there were 10.6 million cancer-related deaths and 19.3 million new cancer cases worldwide. Similarly, heart diseases are one of the top causes of death worldwide, with about 41 million people dying from these diseases each year according to the World Health Organization in 2021. Because of these life-threatening diseases, there's a growing need for personalized medicines, which is good for the market.
So, it's likely that the global proteomics market will keep growing at a fast rate, with an estimated yearly increase of 17.6%, and it could reach a total market size of US$ 181.5 Billion by the year 2033.
The global proteomics market is experiencing substantial growth, driven primarily by advancements in technology. These technological breakthroughs have revolutionized the field of proteomics, significantly enhancing sensitivity, resolution, and enabling high-throughput, multiplexed analysis. They have also improved data integration, sample preparation techniques, and fractionation methods, while facilitating mass spectrometry-based imaging. Moreover, advanced data analysis and informatics tools have played a pivotal role in expanding our understanding of the proteome. These innovations have accelerated biomarker discovery, spurred progress in personalized medicine, and streamlined drug discovery and development. Overall, technological advancements have broadened the horizons of proteomics research, enabling comprehensive exploration of proteins in various biological contexts. These breakthroughs have resulted in a deeper comprehension of protein functions, disease mechanisms, drug discovery, and personalized medicine, thus fueling the growth and impact of proteomics as a field of study.
Restraints:
The utilization of proteomics research spans a wide spectrum, from discovering novel drugs, vaccines, and diagnostic targets to characterizing protein-based products and toxicology. This necessitates the use of diverse platforms, instruments, laboratory documentation systems, software, and databases, all contributing to the elevated expenses in protein analytics. Furthermore, proteomics experiments demand specialized expertise in sample preparation, data analysis, and interpretation, which can be both scarce and costly, especially for smaller organizations. Consequently, the high costs of instruments can impede market growth. Limited adoption due to financial constraints may decelerate market expansion, affecting the development of new technologies, innovation, and competition among instrument manufacturers.
In a nutshell, the Persistence Market Research report is a must-read for start-ups, industry players, investors, researchers, consultants, business strategists, and all those who are looking to understand this industry. Get a glance at the report at - https://www.persistencemarketresearch.com/market-research/proteomics-market.asp
Opportunities:
The Asia Pacific region has witnessed remarkable progress in proteomic technologies and methodologies. Researchers in this region have embraced cutting-edge techniques like mass spectrometry, protein profiling, and protein interaction analysis to explore complex biological systems. The availability of state-of-the-art proteomics platforms and instruments has spurred growth in proteomics research and its applications. Governments in the Asia Pacific region have implemented supportive policies and initiatives to promote scientific research and innovation, including proteomics. These measures encompass research grants, funding programs, and regulatory frameworks that incentivize proteomics research and its practical applications. Government support has fostered a conducive environment for proteomics growth in the region. Furthermore, increasing competition in mature markets compels manufacturers to prioritize emerging markets for ensuring steady revenue growth in the years ahead.
Challenges:
Proteomics is a rapidly expanding field, driven by improvements in instrument accuracy, sensitivity, size, and affordability. This offers immense potential for personalized and precision medicine, which could revolutionize diagnosis, treatment, and disease management in the future. However, the exponential growth in proteome analysis generates substantial volumes of data. Consequently, the management and handling of proteomics data necessitate specialized expertise, resources, and infrastructure. Addressing these challenges is imperative for advancing proteomics research and can be considered a significant hurdle in the market's progress.
Proteomics Market: Segmentation:
What Technology is Driving the Global Market's Growth?
"The Most Popular Way to Study Gene Activity"
The microarray instruments are expected to be the biggest part of the market, making up about 27.1% by the end of 2023.
Microarrays are becoming more popular in various uses, and this is helping the market grow. For example, they are proving very useful in understanding how antibiotics work because they can analyze bacterial DNA. Lately, DNA-based microarrays have become the preferred way to study how genes work. This is because they are getting simpler and cheaper, which means more people can use them and get consistent results.
Which Application is Going to Lead the Market in the Future?
"A Growing Focus on Personalized Medicines"
The drug discovery area is expected to be the bigger part, with about 39.0% by the end of 2023.
The market is expanding because scientists are getting better at designing drugs based on the structure of molecules. There is also a bigger focus on making medicines that are personalized for each person, and more money is being put into these areas. Proteomics technologies are helping drug companies see if their medicines might work early on, which saves them a lot of money. Ultimately, this helps patients and healthcare systems, which is why this part of the market is growing.
Which Group is Going to Be the Biggest User of this Technology in the Future?
"Lots of Ongoing Projects in Schools and Research Centers"
Research and academic institutions are expected to be the biggest users, making up about 51.5% by the end of 2023.
There is a lot of research and development happening, especially in the study of molecules, enzymes, and various kits. Many ongoing projects are trying to understand how proteins work and how they can help treat dangerous diseases. Also, many schools and research centers are doing more projects in life sciences. All of this is creating a bigger need for tools like molecular biology equipment and reagents, which is why this part of the market is growing.
Competitive Scenario
Leading companies in the global proteomics market are incorporating innovative technologies into their product offerings. They are employing strategies such as mergers, acquisitions, and partnerships to expand their market presence and boost sales.
As an example
In September 2020, Bruker Corporation made an announcement about its acquisition of Integrated Proteomics Pipeline (IP2), a cutting-edge proteomics search engine. Integrated Proteomics Applications Inc., founded by Professor John Yates III, Drs. Robin Park, and Tao Xu, was responsible for developing IP2.
In November 2022, Danaher teamed up with Duke University to establish the inaugural Danaher Beacon for Gene Therapy Innovation, marking a strategic partnership aimed at advancing gene therapy research and development.
Key Segments Covered in Proteomics Industry Research
Component:
Instruments
Spectrometry
Protein Microarray system
Chromatography system
Surface Plasmon Resonance
Electrophoresis
Protein Fractionation Systems
X-ray Crystallography
Reagents & Kits
Protein Microarray Reagents
X-Ray Crystallography Reagents
Spectroscopy Reagents
Chromatography Reagents
Electrophoresis Reagents
Immunoassay Reagents
Protein Fractionation Reagents
Core Proteomics Services
Protein Identification Services
Protein Separation Services
Technology:
Microarray Instruments
X-Ray Crystallography
Spectroscopy
Chromatography
Protein Fractionation Systems
Electrophoresis
Surface Plasma Resonance Systems
Application:
Drug Discovery
Clinical Diagnosis
Cancer research
End User:
Contract research organization (CROs)
Research & Academic institutions
Pharma & Biotech Companies
Region:
North America
Latin America
Europe
South Asia
East Asia
Oceania
Middle East & Africa
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