Report Overview

According to the deep-dive market assessment study conducted by Growth Plus Reports, the global proteomics market was pegged at US$ 21.7 billion in 2020 and is expected to register a revenue CAGR of 16.2% to reach US$ 116.24 billion by 2031.

Market Fundamentals

Proteomics is a field of molecular biology that deals with the study of proteomes. It consists of the study of protein interaction, protein modification, analysis of metabolic pathways, rates of protein production, degradation, and steady-state abundance. Proteomics plays a critical role in early disease prognosis, diagnosis, and monitoring the disease development. Further, in drug discovery, proteomics helps in target identification and validation and in investigating the mechanisms of drug action or toxicity.

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Market Dynamics       

Growing applications of proteomics in the diagnosis of diseases, the rising demand for personalized medicines, and increasing proteomics research activities are some of the major factors expected to fuel market revenue growth. Moreover, technological advancements and increasing funding for research activities are some other factors propelling the global proteomics market revenue growth. However, the high cost of instruments and reagents is hindering the revenue growth of the proteomics market to a certain extent. Collaborations, partnerships, alliances, and agreements have become a priority in this area as it is a major challenge for companies to capture and develop all the required expertise encompassing all the aspects of proteomics. Realizing this companies with mass spectrometry expertise are increasing their collaborations with biochip companies. Furthermore, another key market driver is increasing demand for and research activities in personalized medicine. 

Market Ecosystem

The global proteomics market is analyzed from four perspectives: product & services, application, end user, and region. 

Proteomics Market by Product & Services

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Based on products & services, the proteomics market is segmented into instruments, reagents, and software & services. Instruments are further sub-segmented into spectroscopy, chromatography, protein microarrays, electrophoresis, X-ray crystallography, and other instruments. 

The instruments segment accounts for the largest revenue share of the market. Instruments are used for determining the structure of proteins. Development and launches of technologically advanced instruments and increasing research studies on proteins during the drug development process have led to increasing adoption of the instruments. 

Proteomics Market by Application

Based on application, the proteomics market is segmented into clinical diagnostics, drug discovery, and other applications. 

The clinical diagnostics segment accounts for the largest revenue share of the proteomics market. Proteomics is being used by clinical researchers for identifying various disease biomarkers. These biomarkers help in disease prognosis, diagnosis, staging, and monitoring. It helps in identifying diagnostic or prognostic markers for a range of diseases such as cancer, and infectious diseases such as malaria and tuberculosis. 

Proteomics Market by End User

Based on end-user, the proteomics market is segmented into hospitals, clinical laboratories, pharmaceutical companies, and other end users. 

The pharmaceutical companies segment accounts for the largest revenue share of the proteomics market. Increasing research activities and the rising funding for the development of new drug molecules are some of the factors fueling the revenue growth of pharmaceutical companies. 

Proteomics Market by Region

Based on region, the global proteomics market is segmented into North America, Europe, Asia Pacific, and the Rest of the World (RoW). 

North America dominates the market for proteomics holding the largest revenue share. The major factors contributing to the revenue growth of the proteomics market in this region include the increasing number of R&D activities for developing new drug molecules, the rising funding for proteomics research, and the growing awareness for early diagnosis of diseases. Moreover, developed healthcare infrastructure and high healthcare expenditure are some of the other factors boosting the proteomics market revenue growth in this region. 

Competitive Landscape

The prominent players operating in the global proteomics market include: 

• Thermo Fisher Scientific Inc
• Merck KGaA, Agilent Technologies, Inc
• Bio-Rad Laboratories, Inc
• General Electric Company
• PerkinElmer Inc
• Danaher Corporation
• Illumina, Inc
• QIAGEN N.V
• Eurofins Scientific Group

Strategic Developments

• In March 2021, Bruker Corporation announced the progress of several collaborations in deep, unbiased plasma proteomics, leveraging the speed, sensitivity, and dynamic range of 4D- Proteomics on timsTOF Pro systems at the virtual 17th US HUPO Conference.
• In January 2021, Encodia, a biotech company developing next-generation solutions for proteomics research, closed a US$ 75 million Series C financing. The company plans on using the funds to accelerate the productization of its patented ProteoCode platform for broad use in life science research and subsequent clinical applications.
• In July 2020, Seer, Inc., a life sciences company raised US$ 55 million in a new funding round to accelerate the development and commercial launch of the Proteograph suite of reagents, instruments, and software products in 2021.

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