According to Market.us, The Proteomics Market Is Encouraged to Reach 103.8 billion by 2032, Revenue to Index 14.9% CAGR Over the Next 10 Years (between 2023 and 2032).
New York, March 16, 2023 (GLOBE NEWSWIRE) — The global proteomics market was worth USD 26.8 billion in 2022 and will reach USD 103.8 billion by 2032. This market is anticipated to see the highest CAGR of 14.9% between 2023 and 2032. Proteomics is the broad term for the study of proteomics. A proteome is a group of proteins produced by a living organism. Proteomics is used to look into the expression of proteins, their rate of degradation, descriptions of proteins, and modifications of proteins.
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- By type, the reagent and consumables category is the most lucrative and generates the largest share of revenue in the global proteomics market.
- By technology, the protein microarray segment is expected to account for the largest proteomics market share.
- By application, the clinical diagnostic segment had the largest share over the projection period.
- By end-user, the pharmaceutical companies segment had a significant market share.
- North America dominated the sector with a 45.0% revenue share.
Factors affecting the growth of the proteomics market industry
Increased investments in R&D in proteomics: The National Institutes of Health (NIH) of the United States contributed US$ 37 billion to biomedical research. This grant was intended to support life sciences research to understand the fundamental mechanisms by which diseases occur and to identify biomarkers that indicate the presence of disease or the gene(s) or protein(s) that cause the disease.
A surge in the prevalence of cancer and other diseases: The increasing incidence of cancer and other disorders is another crucial factor for the global proteomics market. The continuing proteomics research can assist medical specialists in identifying how proteins respond in a highly dynamic environment, such as cancer patients.
Technical advancements: The advancement of advanced tools that increase the productivity, throughput, and speed of biological research, such as 2-D electrophoresis protein analyzers, would further boost market expansion.
Collaborations and partnerships among major companies: Symphogen and Thermo Fisher Scientific Inc. developed verified platform methods for the rapid characterization and quality control of complex therapeutic proteins.
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Top Trends in Global Proteomics Market
Artificial intelligence in proteomics is a well-known trend that is quickly gaining traction. Proteomics applications of artificial intelligence are already reshaping the field of drug development. It is crucial to take into account how and why particular proteins interact when creating novel medications, digesting cell biology, and figuring out whether a treatment will have therapeutic or harmful effects.
Other market trends, such as the rise in drug discovery, emerging technologies, the increasing significance of Nano proteomics, and new applications based on the advancement of proteomic technology, are accelerating the expansion of the proteome market over the forecast period.
The increased incidence of target diseases and surge in demand for personalized medications as well as enhanced diagnostics in the treatment of targeted diseases are vital factors boosting industry growth. A growing emphasis on the use of products in medication creation, biomarker research, and clinical diagnostics for the diagnosis and treatment of diseases will also support the development of the industry. The protein research being done to treat COVID-19 patients is another factor favoring market expansion.
North America, which generated the most considerable revenue of 45% over the projection period, dominated this industry. The rise of omics research, the necessity for high-quality data reproducibility tools, and a focus on developing personalized treatments are all contributing factors. The alliances and cooperation of significant regional enterprises also contribute to the market’s growth. One such example is the collaboration between Symphogen and Thermo Fisher…
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