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Proteomics, Global Market Trends, Growth, Insights 2024
Global Proteomics, Market Analysis, Industry Growth
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According to The Business Research Company's, The proteomics market size has grown rapidly in recent years. It will grow from $30.84 billion in 2023 to $35.21 billion in 2024 at a compound annual growth rate (CAGR) of 14.2%. The growth in the historic period can be attributed to increase in government funds for research on proteomics, advancement in technologies, rise in healthcare expenditure, growth in the number of healthcare facilities and economic growth in emerging markets.
The proteomics market size is expected to see rapid growth in the next few years. It will grow to $58.61 billion in 2028 at a compound annual growth rate (CAGR) of 13.6%. The growth in the forecast period can be attributed to increasing financing for proteomics ventures, rising requirement for customized medicine, increasing research and development activities and growth in investments in biotech companies attributing to coronavirus outbreak . Major trends in the forecast period include focus on considering nanotechnology for identifying low-abundant samples, developing and advancing new technologies, launching new products, invest in technology such as artificial intelligence (ai) and real time improved imaging.
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Market Drivers and Trends:
Rising government funds for research on proteomics drives the growth of the proteomics market. Government funds help researchers in drug discovery, diagnosis, and treatment of diseases. For instance, in May 2022, according to Proteomics International Laboratories Limited, an Australia-based medical technology company with a focus on the area of proteomics, received $400,000 in funding to bolster its manufacturing capabilities within Australia. This funding is for the advancement of the PromarkerD test's production in Australia and South-East Asia. This involves expanding upon Proteomics International's specialized ISO 13485 certification. Therefore, rising government funds positively impacts the proteomics market.
Companies are launching new products in order to increase their revenue and also gain a competitive edge over their rivals. For instance, in June 2021, Bruker Corporation, a USA-based scientific instruments manufacturing company, announced the availability of two new trapped ion mobility spectrometry time-of-flight (timsTOF) instruments at its 4D-Proteomics eXceed Symposium. The devices, which are based on ion mobility separation and mass spectrometry, will provide additional advances in proteomics, epiproteomics/PTM characterisation, and deep multiomic biomarker discovery.
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Major Key Players of the Market:
Indorama Ventures Public Company Limited, Far Eastern New Century Corporation, Alpek S.A.B de C.V, Reliance Industries Limited, SABIC, Nan Ya Plastics Corporation, Lotte Chemical Corporation, China Petroleum & Chemical Corporation, BASF SE, LyondellBasell, Isan Exim Plastotech Private Limited, Overseas Polymers Pvt Ltd, G Polyplast Industries, Zydex Industries, China Resources (Holdings) C0 Ltd, Xinjiang Blue Ridge Tunhe Sci.&Tech. Co Ltd, Equipolymers, Neo Group Uab, and Sibur Holding Pjsc, MOL Group, Polief, JBF Industries, LADA-LIST, FibroGreenPlast, Trident Plastics Inc., Applied Plastics Co., Inc., CS Hyde Company, Ensinger Penn Fiber Inc., Calpex Plastics, Industrial Custom Products, Meyer Plastics, Inc., Plastic Depot, Eastman Chemical Company, Alfa S.A.B. de C.V., Repro Plastics Canada Inc., Farletza S.A., Raymond Huard, Opp Film SA, Companhia Integrada Textil De Pernambuco Citepe, I.V.L Dhunseri Polyester Co., Compania Ecologica Gw S.A.C., Schenker Peru Srl, Horizon Technologies FZE, Astra Polymers, Equate Petrochemical Company, Pepson Plastics, Constantia Flexibles Corporation, Nampak.
Proteomics Market 2024 Key Insights:
• The proteomics market size is expected to see rapid growth in the next few years. It will grow to $58.61 billion in 2028 at a compound annual growth rate (CAGR) of 13.6%.
• Rising Government Funds Fuels Proteomics Market Growth
• Advancing Proteomics And Multiomic Biomarker Discovery With Ion Mobility And Mass Spectrometry-Based Devices
• North America was the largest region in the proteomics market in 2023
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Learn More About The Business Research Company
The Business Research Company ( https://www.thebusinessresearchcompany.com ) is a leading market intelligence firm renowned for its expertise in company, market, and consumer research. With a global presence, TBRC's consultants specialize in diverse industries such as manufacturing, healthcare, financial services, chemicals, and technology, providing unparalleled insights and strategic guidance to clients worldwide.
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