Proteomics Market worth $72.9 billion by 2028 | Thermo Fisher Scientific, Inc. (US), Danaher Corporation (US), Merck KGaA (Germany), Agilent Technologies, Inc. (US)

Proteomics Market in terms of revenue was estimated to be worth $36.8 billion in 2023 and is poised to reach $72.9 billion by 2028, growing at a CAGR of 14.6% from 2023 to 2028 according to a new report by MarketsandMarkets™. Factors such as increasing investments in the development of structure-based drug design, growing research in the field of omics, rising demand for high-quality research tools for data reproducibility, and increasing focus on developing personalized therapeutics are driving the growth of this market. However, challenges associated with data management are the major factors restraining the growth of this market.

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Spectroscopy accounted for the largest share of the instrumentation technologies segment in the proteomics market in 2022.

Based on 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. In 2022, spectroscopy accounted for the largest share of the proteomics market for instrumentation technologies. This segment's large share can be attributed to factors such as being widely utilized for studying proteins, their structures, interactions, and functions. Spectroscopic techniques provide valuable insights into the properties of proteins, including their secondary and tertiary structures, conformational changes, and ligand binding.

Mass spectrometry technology accounted for the largest share of the type segment in the proteomics market in 2022.

Based on type, spectroscopy instrumentation technology is categorized into three sub-segments- mass spectrometry (MS), NMR spectroscopy, and circular dichroism (CD) spectroscopy. In 2022, mass spectrometry accounted for the largest share of the spectroscopy instrumentation technology segment. Factors such as the MS can analyze large numbers of samples in a short period of time, making it ideal for large-scale proteomics studies is attributed to its large share.

Gel electrophoresis technology accounted for the largest share of the type segment in the proteomics market in 2022.

Based on type, electrophoresis instrumentation technology is categorized into two sub-segments- Gel and capillary electrophoresis. In 2022, gel electrophoresis accounted for the largest share of the electrophoresis instrumentation technology segment. Factors such as the increasing demand for gel electrophoresis in proteomics research and personalized medicine is a major factor driving the growth of the overall gel electrophoresis market.

Asia Pacific is likely to grow at the highest growth rate during the forecast period.

Based on the region The global proteomics market is segmented into North America, Europe, the Asia Pacific, Latin America, and the Middle East & Africa. North America is the largest regional segment. The Asia Pacific region is estimated to grow at the highest CAGR in the proteomics market during the forecast period. The growth of the pharmaceuticals and life sciences market in the region is primarily driven by the rising prevalence of chronic disease conditions, the rising R&D expenditure, especially in the area of drug discovery & development, and significant investments in the development of therapeutics mAbs.

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Proteomics Market Dynamics:

Drivers:

Increasing demand for personalized medicines for clinical practices
Rising incidences of chronic diseases among geriatric population
Increased investments in research and greater adoption of proteomics in drug discovery
Technological advancements in proteomics

Restraints:

High costs of proteomics instruments and technologies
Lack of standardization in proteomics workflow among research groups

Opportunities:

High growth opportunities for proteomics research in emerging countries
Growing prominence of nano proteomics in biological processes

Challenges:

Low biomarker discovery to approval ratio in proteomics research
Lack of data management/handling in proteomics research

Key Market Players:

Some of the prominent players in the proteomics market are Thermo Fisher Scientific, Inc. (US), Danaher Corporation (US), Merck KGaA (Germany), Agilent Technologies, Inc. (US), and Waters Corporation (US) and among others.

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Recent Developments:

In February 2023, Waters Corporation acquired Wyatt Technology, which enhances the portfolio of Separation and Detection, which provides customers with an unmatched set of analytical solutions across a wide range of applications.

In October 2022, Agilent Technologies Inc. and CMP Scientific Corp. entered into a co-marketing agreement to provide an integrated capillary electrophoresis-mass spectrometry (CE-MS) solution for the life science and pharmaceutical industries.

In November 2021, Thermo Fisher Scientific acquired Belgium-based Pharmafluidics, the developer of the μPAC range of micro-chip-based chromatography columns. The µpac portfolio of columns enhances liquid chromatography (lc) performance in biomarker, proteomics, and drug r&d applications, helping biotechnology and pharmaceutical companies uncover new insights and advance scientific discovery.

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