by The proteomics market involves the study of proteomes which entails the analysis and identification of expressed proteins in biological systems at different spatial and temporal conditions. Proteomics aid in understanding biological processes at the molecular level and help in developing diagnostics, therapeutics and personalized medicines for chronic and complex diseases. Advancements in technologies such as mass spectrometry, spectroscopy and bioinformatics have enabled high throughput characterization and quantification of proteomes. The increasing usage of proteomics in fields of molecular biology, biochemistry and biomedical research for protein discovery, biomarker detection and drug target identification is fueling market growth.
The global proteomics market is estimated to be valued at US$ 42.4 Bn in 2024 and is expected to exhibit a CAGR of 19% over the forecast period 2024 to 2031.
Key Takeaways
Key players operating in the proteomics market are Super Vac, Ziamatic Corp., Akron Brass Company, Fire Hooks Unlimited, Inc., Tempest Technology Corporation, CMC Rescue, Inc., SavaTech Corp., Water Rescue Innovations, RUTH LEE Ltd., Mustang Survival, DURATEK Inc., Safety & Rescue Australia, WernerCo, Sterling Rope Company, Inc., PETZL Distribution. The key players are focusing on development of new technologies and partnerships with research institutes to expand their proteomics offerings.
The increasing investment in omics research by biotech and pharmaceutical companies provides significant opportunities for market players to develop innovative proteomics solutions and services for drug discovery. Furthermore, the growing applications of proteomics in precision medicine is anticipated to drive the demand for proteomics technologies over the forecast period.
Globally, North America dominates the Proteomics Market Size due to presence of major players, strong government funding for proteomics R&D and advanced research infrastructure. However, Asia Pacific region is expected to offer substantial growth opportunities owing to increasing investment by market players, expanding biotech industry and rising proteomics research in countries such as China and India.
Market Drivers
The increasing investment in R&D activities especially in omics technologies by government and private organizations is a major factor fueling the demand for proteomics solutions. As per recent reports, the spending on proteomics research globally has grown over 20% in the last five years. The growing application of proteomics in clinical research for biomarker analysis and drug discovery for various indications including cancer, neurological disorders and infectious diseases is expected to boost the proteomics market growth over the forecast period.
PEST Analysis
Political: The proteomics market is heavily regulated by government agencies like the FDA which govern product approvals and standards. Any changes in regulatory policies could impact the R&D and commercialization of new proteomics products and services.
Economic: The growth of the global economy and increasing healthcare expenditures are driving investments in proteomics research. Rising disposable incomes have increased demand for personalized medicine and precision diagnostics.
Social: An aging global population and growing incidence of chronic diseases is generating more demand for early detection and diagnostic tools. Patients and consumers are more aware now of the benefits of proteomics in revolutionizing healthcare.
Technological: Technological advancements in mass spectrometry, bioinformatics, robotics and lab automation have accelerated proteomics research. The integration of artificial intelligence and machine learning is further enhancing proteomics data analysis capabilities. Developments in microfluidics and protein separation techniques are also expanding the applications of proteomics.
North America
The United States dominates the global proteomics market in terms of revenue share. This can be attributed to substantial private and public sector investments in cutting-edge life science research in the country. Major American pharma companies, research institutes and academic labs are active adopters of advanced proteomics tools and services.
Asia Pacific
Asia Pacific is projected to be the fastest growing regional market during the forecast period. This is attributed to increasing investments by governments and growth of the contract research industry in countries like China and India. Rising healthcare expenditures in developing Asian economies are opening up new opportunities for proteomics players to offer their solutions.
*Note:
1.Source: Coherent Market Insights, Public sources, Desk research
2.We have leveraged AI tools to mine information and compile it
About Author - Money Singh
Money Singh is a seasoned content writer with over four years of experience in the market research sector. Her expertise spans various industries, including food and beverages, biotechnology, chemicals and materials, defense and aerospace, consumer goods, etc. LinkedIn Profile
