Genomics and Proteomics Reagents, Research Kits, & Analytical Instrumentation Size Is Projected to Reach US$ 132,162.2 Mn at a CAGR of 12.2% Till 2027 | Danaher Corporation, Illumina, Inc., Life Technologies Corporation

Global Genomics and Proteomics Reagents, Research Kits, & Analytical Instrumentation Market

Overview:

Genomics is the study of whole genomes of organisms, and incorporates elements from genetics. While proteomics is the large-scale study of proteins. Both genomics and proteomics are closely-related fields. The fields find application in proteogenomics research, forensics, drug discovery, animal husbandry, agriculture, and disease diagnostics and control.

The global genomics and proteomics reagents, research kits, and analytical instrumentation market is valued at US$ 59,185.3 million in 2020 and is expected to reach US$ 132,162.2 million by 2027.

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Drivers:

Increase in investment in the pharmaceutical sector is expected to augment the global genomics and proteomics reagents, research kits, and analytical instrumentation market growth during the forecast period. According to the European Federation of Pharmaceutical Industries and Association, in 2000, Europe invested around US$ 19,509 million in the pharmaceutical sector, which increased to US$ 39,895 million in 2018.

Furthermore, increasing drug launches and approvals are expected to propel the global genomics and proteomics reagents, research kits, and analytical instrumentation market growth. For instance, the United States Food and Drug Administration (USFDA) approved 48 novel drugs, and the European Medicines Agency approved 30 new active substances in 2019.

Opportunities:

Increasing prevalence of chronic diseases worldwide and the increasing adoption of proteomics in disease diagnostics is expected to offer significant growth opportunities for players in the market. The American Cancer Society estimated that in 2019 there would be approximately 1,762,450 new cancer cases and 606,880 cancer deaths in the United States.

Restraints:

High capital investment, high cost of the equipment, and low adoption or penetration of research kits, reagents, and analytical instrumentation, especially in the developing countries, is expected to impede growth of the global genomics and proteomics reagents, research kits, and analytical instrumentation market.

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Market Taxonomy:

By Product Type:
• Reagents and Research Kits
• Instrumentation and Analytical Tools

By End User:
• Research Laboratories
• Pharmaceutical and Biotechnology Organizations
• Diagnostic Laboratories

By Region:
• Africa
• Latin America
• Asia Pacific
• Europe
• Middle East
• North America

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Competitive Sector:

Key players active in the global genomics and proteomics reagents, research kits, and analytical instrumentation market are Life Technologies Corp., Merck Millipore, Agilent Technologies, Bio-Rad Laboratories, Inc., Bruker Corporation, Danaher Corporation, Becton Dickinson & Company, Illumina, Inc., and Thermo Fisher Scientific

Recent Developments:

In January 2020, Agilent Technologies and Indian Institute of Technology Delhi (India) partnered to promote biopharmaceutical research.

In September 2019, Murdoch University and Bruker announced a strategic collaboration to help transform the prevention and diagnosis of disease and personalized health around the world.

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This release was published on openPR.