Proteomics Market Analysis, Demand Overview, Growth Analysis, Current Trends, Updates, and Global Industry Forecast to 2023
Market Highlights:
The
global proteomics market is anticipated to hold a market value of USD 23.2 billion in the year 2017 and
is expected to grow at a CAGR of 14.1% during the forecast period. Proteomics
is a science which is used to estimate the rate of protein production,
interaction of proteins with one another, involvement of proteins in metabolic
pathways, and modification of proteins. Also, it has extensive applications in
drug discovery, development of personalized medicines, and identification of
markers for disease diagnosis.
Increasing
need for personalized medicine, R&D expenditure, technological advancements
and increased funding for proteomics project are expected to drive the market
growth over the forecast period. For instance, in July 2017, Biognosys AG received
USD 5 million funding from its new as well as existing investors. These new
funds will be used for extending commercial operations and also to accelerate
the development of next generation proteomics workflows. However,
reduced funding in key markets of proteomics, high cost of tools &
equipment and lack of skilled researchers can restrain the market growth over
the assessment period.
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Key Players:
Some of the prominent
players in the global proteomics market are
·
GENERAL ELECTRIC COMPANY
·
Bio-Rad Laboratories
·
Danaher
·
Siemens Ltd
·
Thermo Fisher Scientific Inc
·
Agilent Technologies
·
Genzyme Corporation
·
Biognosys AG
·
Bruker
·
Luminex Corporation
·
Merck KGaA
·
PerkinElmer Inc
·
WATERS
·
Caprion Biosciences Inc
Segmentation:
·
The
global proteomics market has been segmented into equipment, services and
application.
·
The
market, on the basis of equipment, has been segmented into chromatography, mass
spectroscopy, protein microarray, X-ray crystallography, protein fractionation
and others.
·
The global
market, on the basis of services, has been segmented into laboratory services
and data analysis & services.
·
The global
proteomics market, by application, has been segmented into drug discovery,
clinical diagnosis and others. The clinical diagnosis segment is expected to
hold the largest market share owing to the increased understanding of the
relevance of investigating and understanding patterns of protein expression for
diseases & drug development. The drug discovery segment is anticipated to
grow at the fastest CAGR owing to continuous search for alternative &
efficient methods to deliver enhanced drugs and increased R&D investments
by pharmaceutical & biotechnology companies.
Regional Analysis:
Geographically,
the Americas is expected to dominate the global market owing to the easy
availability of funds from various organizations and rising interest in personalized
medicines. According to the Personalized Medicine Coalition, number of
available personalized medicines increased to 113 in 2014 from 13 in 2006. Europe
is expected to hold the second largest position in the global market owing to
the rising cancer research activities and high funding from the government.
Asia-Pacific is expected to be the fastest growing market owing to the high
prevalence of cancer and rising healthcare expenditure. Moreover, the Middle
East and Africa region is expected to account for the least market share in the
global market.
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