Proteomics Market growing at a CAGR of 11.8% from 2022-2032 | PerkinElmer, Inc., Thermo Fisher Scientific, Inc., HORIBA

The global Proteomics Market was valued at USD 22.4 Billion in 2022 and it is anticipated to grow up to USD 68.4 Billion by 2032, at a CAGR of 11.8% during the forecast period.

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Proteomics is the large-scale study of proteins, including their structure, function, and interactions. Proteins are the main components of cells and play a vital role in all biological processes. By understanding proteins, we can better understand how cells work and how diseases develop. Proteomics research often uses high-throughput techniques to analyze thousands of proteins at once. This allows us to identify patterns and trends that would be difficult to see using traditional methods. Proteomics has been used to discover new proteins, understand the function of existing proteins, and develop new drugs and diagnostic tests.

Market Trends and Drivers

The rising prevalence of chronic diseases like cancer, Cardiovascular Diseases (CVDs), respiratory diseases, CKD, and others is another factor anticipated to propel the market growth. For instance, according to Globocan, in December 2020, there were 19.3 million new cases of cancer across the world and 10 million cancer-related deaths were reported. Similarly, CVDs are one of the major causes of death worldwide. For instance, as per the WHO (2021), target diseases kill 41 million patients per year. Thus, owing to the increasing prevalence of life-threatening diseases, the demand for personalized therapies is also increasing resulting in a positive impact on the industry.

Major Players in the Global Proteomics Market

The key players in the Proteomics Market are 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), and Waters Corporation, among others.

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COVID-19 Impact:

The impact of COVID-19 was significant owing to the increased research and development activities of pharmaceutical and biotech companies to prepare and manufacture a vaccine, which required biopreservation. For instance, an article published in Stem Cells Translational Medicine Journal stated that the pandemic resulted in the USFDA approving EUA for three mRNA vaccines that Pfizer-BioNTech manufactured in December 2020, Moderna in December 2020, and Janssen in February 2021. The shipping and storage requirements for these vaccines (ultra-cold vs. refrigerated) necessitated bioprocessing methods. Thus, the COVID-19 pandemic is expected to impact the market significantly.

Market Segmentation
By Instrumentation Technology
Spectroscopy
Chromatography
Electrophoresis
Protein Microarrays
Other
By Application
Clinical Diagnostics
Drug Discovery
Other Application
By End User
Hospitals
Clinical Laboratories
Pharmaceutical Companies
Academic Research Laboratories
Other

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This release was published on openPR.