Proteomics Market Awareness and Availability of Proteomics Instruments in both Developed and Emerging Market Boosts the Market Growth
Proteomics studies the function and structure of proteins, especially on large scale. It is an amazing approach to study the dynamic changes of metabolism in response to various stress conditions. The key drivers of the global proteomics market include increased funding for research and development by key institutions and government agencies such as the National Institutes of Health (NIH) and the National Science Foundation (NSF), technology advances such as the development of dual mass spectrometry (eg LC / MS, GC / MS, FT-MS and MALDI-TOF / TOF) and improvements in liquid chromatography and gel electrophoresis procedures. It is also expected that the popularity of customized pharmaceuticals will increase and the growth of the proteomics market will be accelerated. However, the high cost of equipment and the lack of experienced researchers hinders market growth.
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The key proteomics industry companies profiled in the report include
• Agilent Technologies Inc.
• Danaher Corporation
• LI-COR Inc.
• PerkinElmer Inc.
• Thermo Fisher Scientific Inc.
• HORIBA Ltd.
• Bio-Rad Laboratories Inc.
• Bruker Corporation
• General Electric (GE)
• Waters Corporation
The other players included in the value chain analysis (but not included in the report) are Becton, Dickinson and Company, Caprion Biosciences and others.
The global proteomics market is segmented based on component, application, and region. On the basis of component, the market is categorized into reagents, instruments, and services. The reagents segment is further classified into microarray, spectrometry, X-ray crystallography, chromatography, electrophoresis, immunoassay, and protein fractionation reagents. Likewise, the proteomics instruments segment is subsegmented into protein microarray, spectrometry, chromatography, electrophoresis, surface plasmon resonance, X-ray crystallography, and protein fractionation systems.
The spectrometry segment is subdivided into mass spectrometry and NMR spectrometry. Likewise, the chromatography segment is subclassified into HPLC systems, ion chromatography, affinity chromatography, and supercritical fluid chromatography. The applications covered in the study include drug discovery, disease diagnosis, and others. Region wise, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
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Protein microarray segment generated the highest revenue in 2017 in the proteomics instruments market, owing to high usage of this technology to track protein interactions in lesser time as compared to other technologies. The immunoassays segment was the highest revenue generator 2017, as immunoassays are extensively utilized in primary screening in drug discovery and microarray technologies. On the basis of application, the drug discovery segment garnered the majority share in 2017, owing to increase in awareness of personalized medicines in both emerging and developed markets.
The major players involved in the global proteomics industry have adopted different key developmental strategies such as product development, acquisition, and collaboration to sustain the competition in the industry. For instance, in June 2018, Bruker Corporation introduced a broad line of mass spectrometry products and workflows at the ASMS (American Society for Mass Spectrometry) conference.
Likewise, in March 2017, ThermoFisher Scientific, Inc. launched iXR Raman Spectrometer, which was multi-modal, enabled simultaneous measurements. This new product was designed for rapid and accurate chemical and structural analysis. Furthermore, in January 2019, Waters Corporation introduced the BioAccord System, a liquid chromatography-mass spectrometry (LC-MS) solution that is anticipated to expand access to high-resolution time-of-flight mass spectrometry capabilities to more scientists.
Key Findings of the Proteomics Market:
• The reagents segment generated the highest revenue in 2017, and is projected to grow at a CAGR of 14.0% during the forecast period.
• The instruments segment is anticipated to grow at the highest CAGR throughout the forecast period.
• Drug discovery application dominated the global proteomics market share in 2017, accounting for nearly three-fifths of the proteomics market size in 2017.
• In 2017, the U.S. was the leading country, occupying the largest market share in the global proteomics market.
North America held the largest proteomics market size of nearly two-fifths share of the total market in 2017, due to increase in popularity and adoption of personalized medicines and favorable government funding & initiatives to develop novel therapeutics. However, Asia-Pacific is expected to grow at a CAGR of 16.8% from 2018 to 2025, owing to rise in prevalence of chronic diseases and increase in interest of researchers to utilize proteomics in disease diagnosis & treatment.
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