(MENAFN- GlobeNewsWire - Nasdaq) Growth in Drug Discovery, government Funding, and Innovations in Bioinformatics Propel the Proteomics IndustryAustin, Nov. 08, 2024 (GLOBE NEWSWIRE) -- Proteomics market Size Analysis:
“According to S&S Insider, The Proteomics Market was valued at USD 30.61 billion in 2023 and is projected to grow to USD 96.35 billion by 2032, expanding at a compound annual growth rate (CAGR) of 13.61% during the forecast period of 2024-2032.”
The proteomics market is witnessing significant growth due to advancements in personalized medicine and drug discovery. As the demand for tailored treatments rises and proteomics plays a pivotal role in biomarker discovery, the market is expected to thrive over the forecast period.
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Market Overview:
Rising prevalence of chronic diseases like cancer and proteomics market is classified as largest growing segment due to advancement in biotechnology, continued adoption of precision or personalized medicine and increased focus on drug discovery. Advanced proteomic technologies that allow for more comprehensive protein function, interaction and expression pattern analysis are bolstering the progress of proteomics-based therapeutics in key therapeutic areas like oncology, immunology and neurology. Recent advancements in biotechnology and the increasing adoption of precision medicine are pivotal factors driving the proteomics market, particularly in addressing diseases like cancer, diabetes, and neurological disorders. The rising incidence of chronic conditions, especially cancer, is significantly influencing market dynamics. The American Cancer Society forecasts that the number of cancer cases could reach 35 million annually by 2050, a trend attributed to the aging population and lifestyle changes
Leading factors like high utilization of mass spectrometry globally and a growing need for faster, accurate diagnostic tools is providing traction to the growth of this market. These innovations will allow for biomarker discovery, disease mechanisms and targeted therapy development. Moreover, AI and ML implementation into proteomics is playing a major role in drug development and clinical diagnostics as well, which is a significant factor driving the market. Proteomics has been increasingly employed in personalized medicine and clinical diagnostics which rapidly drives this growth.
Proteomics Market Technological developments, government incentives and rising investments in biotech and health related research are some of the key drivers for Proteomics market. Increasing demand for biomarker discovery and development of the complicated diseases such as cancer, diabetes & other neurological disorders is pervasive lucrative opportunities. Coupled with public and private investment driven by exploratory efforts around the world, proteomics market will continue to grow.
Biotechnology company expansion, molecular biology advancements and increased proteomics-genomics integration are supporting market growth. Also, the increasing need for specific therapies and personalized medicine has made proteomics essential in clinical assays, drug development, and diagnostics particularly for finding molecular targets, measuring anti-drug effectiveness or therapeutic responses to a given treatment.
Proteomics Market Report Scope:
| Report Attributes | Details |
| Market Size in 2023 | US$ 30.61 Billion |
| Market Size by 2032 | US$ 96.35 Billion |
| CAGR | CAGR of 13.61% From 2024 to 2032 |
| Base Year | 2023 |
| Forecast Period | 2024-2032 |
| Historical Data | 2020-2022 |
| Regional Analysis/Coverage | North America (US, Canada, Mexico), Europe (Eastern Europe [Poland, Romania, Hungary, Turkey, Rest of Eastern Europe] Western Europe] Germany, France, UK, Italy, Spain, Netherlands, Switzerland, Austria, Rest of Western Europe]), Asia Pacific (China, India, Japan, South Korea, Vietnam, Singapore, Australia, Rest of Asia Pacific), Middle East & Africa (Middle East [UAE, Egypt, Saudi Arabia, Qatar, Rest of Middle East], Africa [Nigeria, South Africa, Rest of Africa], Latin America (Brazil, Argentina, Colombia, Rest of Latin America) |
| Key Drivers | Improved technologies enhance protein analysis precision, vital for complex research like disease biomarker identification. Proteomics offers insights for tailored treatments by identifying specific biomarkers for diseases like cancer and cardiovascular conditions. |
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Major Players Analysis Listed in this Report are:
Thermo Fisher Scientific Agilent Technologies Waters Corporation PerkinElmer Bio-Rad Laboratories Abcam GE Healthcare Life Sciences Danaher Corporation Bruker Corporation Qiagen Merck KGaA Promega Corporation Illumina Sartorius AG Shimadzu Corporation Agilent Technologies Sysmex Corporation Pacific Biosciences Roche Diagnostics Becton, Dickinson and Company
Segmentation Analysis
By Technology
In 2023, the spectrometry segment dominated the market and represented significant revenue share. Spectrometry is essential for protein identification, characterization, detecting post-translational modifications, and analyzing protein-protein interactions. Advancements in mass spectrometry, such as improved resolution, faster speeds, and greater automation, have significantly boosted its efficiency, solidifying its role as a preferred method in proteomics research. Moreover, integrating spectrometry with bioinformatics has expanded its use in drug discovery, biomarker identification, and personalized medicine, fueling continued segment growth.
The next-generation sequencing (NGS) segment is also set for rapid expansion from 2024 to 2032, largely driven by decreasing sequencing costs, which have made NGS technology more accessible across a wide array of research and clinical fields. Technological improvements that enhance speed and accuracy are accelerating NGS adoption in oncology, genetic disease research, and personalized medicine. To capitalize on this trend, companies are taking strategic actions, such as the February 2024 partnership between Pixelgen Technologies and BioStream Co. Ltd., which aims to distribute next-generation sequencing spatial proteomics tools for single-cell applications. These efforts are likely to accelerate the growth of the NGS segment further.
Proteomics Market Key Segmentation:
By Product & Services
Instruments Reagents & Consumables Services
By Application
Drug Discovery Clinical Diagnostics Others
By Technology
Next-generation Sequencing Microarray Instruments X-Ray Crystallography Spectrometry Chromatography Protein Fractionation Systems Electrophoresis Surface Plasma Resonance (SPR) Systems Other Technologies
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Regional Landscape
In 2023, North America dominated the global proteomics market, holding over 46.87% of the total market share. This leadership is driven by key factors such as technological advancements and the growing demand for advanced diagnostic tools for a variety of diseases. The region also benefits from substantial investments in precision medicine and robust government funding in biotechnology and healthcare, providing a strong foundation for market growth. In the U.S., a thriving biotechnology and life sciences research sector, coupled with advancements in mass spectrometry and the presence of major industry players, continues to fuel this expansion.
The Asia Pacific proteomics market is projected to experience the highest growth, with an anticipated compound annual growth rate (CAGR) of 16.47% between 2024 and 2032. This growth is propelled by factors like the rising prevalence of chronic diseases, an increasing trend toward outsourcing proteomics projects, and increased public and private sector investments, bolstered by favorable government policies. The region's strong biotechnology and biopharmaceutical presence, especially in Japan, where initiatives in drug discovery, personalized medicine, and ongoing technological advancements are supported by government-backed efforts, will further accelerate market expansion.
Recent Developments
In July 2024, Agilent Technologies unveiled the Agilent ExD Cell, designed to enhance protein and peptide characterization when paired with the 6545XT AdvanceBio LC/Q-TOF system. This innovation is expected to improve the accuracy and efficiency of proteomics analysis in clinical and research settings.
In February 2024, Thermo Fisher Scientific launched the Orbitrap Fusion Lumos Mass Spectrometer, which integrates next-generation mass spectrometry for more precise protein identification, playing a key role in advancing proteomics research in drug discovery and disease diagnostics.
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Table of Contents – Major Key Points
1. Introduction
2. Executive Summary
3. Research Methodology
4. Market Dynamics Impact Analysis
5. Statistical Insights and Trends Reporting
Incidence and Prevalence (2023) Prescription Trends, (2023), by Region Device Volume, by Region (2020-2032) Ambulatory Surgical Centers Spending, by Region, (Government, Commercial, Private, Out-of-Pocket), 2023
6. Competitive Landscape
7. Proteomics Market Segmentation, by Product & Services
8. Proteomics Market Segmentation, by Application
9. Proteomics Market Segmentation, by Technology
10. Regional Analysis
11. Company Profiles
12. Use Cases and Best Practices
13. Conclusion
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