Northbrook, IL 60062 -- (SBWire) -- 09/20/2023 --The Proteomics Market is poised for substantial expansion, with projections indicating a remarkable growth from USD 36.8 billion in 2023 to an estimated USD 72.9 billion by 2028, at an impressive Compound Annual Growth Rate (CAGR) of 14.6%. In this article, we explore the factors fueling this growth and delve into the challenges faced by the market.
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Browse in-depth TOC on "Proteomics Market"
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Key Market Players:
Some of the prominent players in the proteomics market are Thermo Fisher Scientific, Inc. (US), Danaher Corporation (US), Merck KGaA (Germany), Agilent Technologies, Inc. (US), and Waters Corporation (US) and among others.
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Factors Boosting Market Growth:
1. Structure-Based Drug Design Investments: A significant driver of this growth is the escalating investments in structure-based drug design. This strategic approach to drug development is gaining momentum, creating a demand for cutting-edge proteomic tools and technologies.
2. Omics Research Advancements: The proteomics market benefits from the expanding research landscape in omics sciences. Researchers are increasingly focusing on unraveling the complexities of proteomes, necessitating advanced proteomics products and services.
3. Data Reproducibility Demands: There is a growing need for high-quality research tools that ensure data reproducibility. As scientific rigor gains prominence, the demand for reliable proteomic solutions continues to rise.
4. Personalized Therapeutics Focus: The market is further propelled by the intensified focus on personalized therapeutics. Proteomics plays a pivotal role in tailoring treatments to individual patients, driving innovation in this sector.
Proteomics Market Dynamics:
Drivers:
1. Increasing demand for personalized medicines for clinical practices
2. Rising incidences of chronic diseases among geriatric population
3. Increased investments in research and greater adoption of proteomics in drug discovery
4. Technological advancements in proteomics
Restraints:
1. High costs of proteomics instruments and technologies
2. Lack of standardization in proteomics workflow among research groups
Opportunities:
1. High growth opportunities for proteomics research in emerging countries
2. Growing prominence of nano proteomics in biological processes
Challenges:
1. Low biomarker discovery to approval ratio in proteomics research
2. Lack of data management/handling in proteomics research
Spectroscopy accounted for the largest share of the instrumentation technologies segment in the proteomics market in 2022.
Based on instrumentation technologies, the proteomics market is broadly segmented into spectroscopy, chromatography, electrophoresis, protein microarrays, X-ray crystallography, surface plasmon resonance, protein fractionation, and other technologies. In 2022, spectroscopy accounted for the largest share of the proteomics market for instrumentation technologies. This segment's large share can be attributed to factors such as being widely utilized for studying proteins, their structures, interactions, and functions. Spectroscopic techniques provide valuable insights into the properties of proteins, including their secondary and tertiary structures, conformational changes, and ligand binding.
Mass spectrometry technology accounted for the largest share of the type segment in the proteomics market in 2022.
Based on type, spectroscopy instrumentation technology is categorized into three sub-segments— mass spectrometry (MS), NMR spectroscopy, and circular dichroism (CD) spectroscopy. In 2022, mass spectrometry accounted for the largest share of the spectroscopy instrumentation technology segment. Factors such as the MS can analyze large numbers of samples in a short period of time, making it ideal for large-scale proteomics studies is attributed to its large share.
Gel electrophoresis technology accounted for the largest share of the type segment in the proteomics market in 2022.
Based on type, electrophoresis instrumentation technology is categorized into two sub-segments— Gel and capillary electrophoresis. In 2022, gel electrophoresis accounted for the largest share of the electrophoresis instrumentation technology segment. Factors such as the increasing demand for gel electrophoresis in proteomics research and personalized medicine is a major factors driving the growth of the overall gel electrophoresis market.
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Global Proteomics Market Outlook 2023-2028: Driving Forces and Challenges
In February 2023, Waters Corporation acquired Wyatt Technology, which enhances the portfolio of Separation and Detection, which provides customers with an unmatched set of analytical solutions across a wide range of applications.