by Proteomics is the large-scale study of structures and functions of proteins. It involves the study of two-dimensional electrophoresis patterns of proteins, analysis of peptides after enzymatic digestion or decomposition of proteins into peptides, peptide mass mapping, and protein identification by mass spectrometry. In addition, proteomics allows researchers to analyze protein expression with a high level of sensitivity. Proteomics is used in a wide range of research areas including disease diagnosis, drug discovery and development, study of cell signaling pathways and cellular mechanisms. The rapidly growing applications of proteomics in personalized medicine is expected to boost the growth of the proteomics market over the forecast period.
The global proteomics market is estimated to be valued at US$ 36.8 billion in 2023 and is expected to exhibit a CAGR of 19% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Dynamics:
The global proteomics market growth is majorly driven by increasing research activities in personalized medicine. Personalized medicine tailors medical treatment to an individual’s specific disease condition, genetic makeup, and environmental and lifestyle factors. The growing application of proteomics in disease diagnosis and drug development for personalized treatment of various diseases such as cancer is expected to propel the market growth over the forecast period. Another key driver is technological advancements in mass spectrometry and laboratory automation which have increased speed, sensitivity and throughput of proteomics analysis, thereby supporting its increasing adoption in research and clinical applications.
Segment Analysis
The global proteomics market is dominated by the drug discovery sub-segment. The sub-segment currently holds around 45% of the total market share owing to the growing application of proteomics in drug discovery and development processes. Proteomics techniques are widely used by pharmaceutical companies and research institutes for biomarker identification, target validation and toxicity studies. This enables faster drug discovery and development at lower costs.
PEST Analysis
Political: Governments across major countries are increasing funding for proteomics research owing to its wide applications across various industries like healthcare, biotechnology, agriculture etc. This is positively impacting the adoption of advanced proteomics techniques.
Economic: Growing healthcare expenditure and rising R&D investments by pharmaceutical and biotechnology companies are fueling the demand for proteomics technologies. In addition, availability of federal and private funding is encouraging proteomics commercialization.
Social: Increasing incidence of chronic diseases worldwide is generating demand for precision medicine and personalized healthcare approaches. This is driving the application of proteomics in disease diagnosis, prognosis and treatment monitoring.
Technological: Advancements in mass spectrometry, bioinformatics tools and omics data analysis are enhancing proteomics capabilities. Introduction of techniques like spatial proteomics and single-cell proteomics are opening up new opportunities. Integration of artificial intelligence is also augmenting proteomics research.
Key Takeaways
The global Proteomics Market Share is expected to witness high growth at a CAGR of 19% during the forecast period of 2023 to 2030.
Regional analysis shows that North America currently dominates the market owing to extensive research activities and strong government support for omics technologies including proteomics.
Key players operating in the proteomics market are Super Vac, Ziamatic Corp., Akron Brass Company, Fire Hooks Unlimited, Inc., Tempest Technology Corporation, CMC Rescue, Inc., SavaTech Corp., Water Rescue Innovations, RUTH LEE Ltd., Mustang Survival, DURATEK Inc., Safety & Rescue Australia, WernerCo, Sterling Rope Company, Inc., PETZL Distribution.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
