Proteomics Market projected to reach USD 72.9 billion by 2028

"The proteomics market is projected to grow at a CAGR of 14.6% during the forecast of 2023-2028"

The global proteomics market size is projected to reach USD 72.9 billion by 2028 from 36.8 billion in 2023, at a CAGR of 14.6% during the forecast period. Factors such as increasing government funding for R&D projects to develop new therapeutics and protein-based drugs and the growing demand for personalized and efficient therapeutics, support the demand for proteomics products & services, and drive the market growth at a faster pace.

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"The spectroscopy segment is likely to grow at the highest CAGR during the forecast period of 2023-2028."

On the basis of 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. The spectroscopy segment is projected to grow at the highest CAGR during the forecast period. The growth is attributed to the factor that the technique is widely employed in protein analysis to elucidate the protein structure (size, shape, secondary, or tertiary conformations), quantification, and interactions with molecules such as ligands, solutes, or other proteins.

"The biochips sub-segment is likely to grow at the highest CAGR during the forecast period of 2023-2028."

On the basis of instrumentation technology protein microarray, the proteomics market is broadly segmented into biochips and microarray instruments. The biochips segment is projected to grow at the highest CAGR during the forecast period. The growth is attributed to the several advantages in proteomics research, including high-throughput analysis, multiplexing, sensitivity, specificity, reduced sample requirements, and automation.

"The pharmaceutical & biotechnological companies segment is likely to grow at the highest CAGR during the forecast period of 2023-2028."

Based on end users, the proteomics market is segmented into hospitals, clinical laboratories, pharmaceutical companies, academic research laboratories, and other end users like CDMOs, and CROs. The pharmaceutical& biotechnological companies segment held a dominant share ofthe proteomics market, in 2022.The large share of this segment is attributed to the growing focus of pharma giants on core activities like increasing R&D for the discovery & development of new molecules. This is one of the major factors anticipated to project market growth.

"Asia Pacific region is likely to grow at a faster pace."

The proteomics market is divided into North America, Europe, the Asia Pacific, Latin America, and the Middle East & Africa. In 2022, North America accounted for the dominant share of the proteomics market. The dominance of the region is attributable to various factors such as the presence of leading players in the region coupled with the ongoing research activities of developing new targeted therapies. Asia Pacific region is likely to grow at a faster pace owing to various factors such as the growing awareness of personalized therapeutics, rising government initiatives for generic medicines in the region, and the emergence of new market players in the proteomics market.

Proteomics, the study of proteins, is on the cusp of transformative breakthroughs that hold immense potential for various fields, including medicine, agriculture, and biotechnology. As technology and research capabilities continue to advance, the future of proteomics promises to unravel the complex roles of proteins in health, disease, and beyond.

In the realm of medicine, proteomics offers exciting prospects for personalized healthcare and disease treatment. By analyzing the proteins present in an individual's body, researchers can gain valuable insights into their unique biological makeup. This understanding can lead to tailored treatments, early disease detection, and more precise diagnostic tools, ultimately improving patient outcomes and revolutionizing the practice of medicine.

Furthermore, proteomics is set to revolutionize drug discovery and development. By studying how proteins interact with one another and with potential drug compounds, researchers can identify new drug targets and design more effective therapeutic agents. This will streamline the drug development process, potentially leading to faster approvals and more targeted treatments for a wide range of diseases.

In the field of agriculture, proteomics holds the promise of enhancing crop yields and resistance to environmental stressors. Understanding the proteins involved in plant growth, development, and responses to changing conditions can lead to the development of genetically modified crops with improved characteristics, contributing to global food security and sustainable agriculture.

The future of proteomics is also deeply intertwined with other scientific disciplines, such as genomics and metabolomics. Integrating data from various "-omics" approaches can provide a comprehensive view of biological processes, enabling a more profound understanding of living organisms and their intricate mechanisms.

As proteomics technology becomes more accessible and cost-effective, its applications will continue to expand, fueling groundbreaking discoveries and driving innovations across various industries. From personalized medicine to agriculture and beyond, proteomics is poised to transform how we perceive and address biological challenges, paving the way for a healthier, more sustainable, and knowledge-driven future.

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This release was published on openPR.