Global Proteomics Market to Reach $43.5 Billion by 2026
SAN FRANCISCO, March 4, 2022 /PRNewswire/ — A new market study published by Global Industry Analysts Inc., (GIA) the premier market research company, today released its report titled “Proteomics – Global Market Trajectory & Analytics”. The report presents fresh perspectives on opportunities and challenges in a significantly transformed post COVID-19 marketplace.
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Edition: 19; Released: February 2022
Executive Pool: 4122
Companies: 178 – Players covered include ActivX Biosciences, Inc.; Agilent Technologies, Inc.; Bio-Rad Laboratories, Inc.; Bruker Corporation; Cytiva; Geneva Bioinformatics S.A.; Merck KGaA; PerkinElmer, Inc.; Shimadzu Corporation; Millipore Sigma; Thermo Fisher Scientific, Inc.; Waters Corp.; Xencor, Inc. and Others.
Coverage: All major geographies and key segments
Segments: Component (Reagents, Instruments, Services); Application (Drug Discovery, Disease Diagnosis, Other Applications)
Geographies: World; USA; Canada; Japan; China; Europe; France; Germany; Italy; UK; Spain; Russia; Rest of Europe; Asia-Pacific; Australia; India; South Korea; Rest of Asia-Pacific; Latin America; Middle East; Africa.
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ABSTRACT-
Global Proteomics Market to Reach $43.5 Billion by 2026
The proteomics market is anticipated to gain from the pressing need to develop advanced therapeutic and diagnostic options in the wake of COVID-19. The ability of proteomics to help researchers in detecting several proteins in a single analysis is anticipated to make it a suitable weapon in the fight against the COVID-19 virus.
Proteomics represents a highly relevant technique in the battle against COVID-19 owing to the significance to understand the role played by proteins in the infection process as well as disease progression. These insights are critical to support preventative strategies and development of novel therapeutics. The use of mass spectrometry to detect COVID-19 virus’ proteins and proteolytic peptides enables a rapid, simple virus detection assay. On the other hand, targeted proteomics allows detection of peptides of the virus’ spike proteins and nucleocapsid with high specificity and sensitivity in clinical and research samples. The approach holds potential to make proteomics an effective option for diagnostic laboratories along with point-of-care testing as a cost-effective alternative to techniques based on nucleic acid. Proteomics can be potentially used to develop techniques to predict COVID-19 patients who may experience severe symptoms later. Various studies have revealed potential protein-based biomarkers expressed differently among certain COVID-19 patients, which can be used for predicting viral infection during earlier stages. The use of proteomics to understand humoral antibody response against virus’ proteins has facilitated the development of specific antibody-based assays intended to support diagnostic or therapeutic objectives.
Amid the COVID-19 crisis, the global market for Proteomics estimated at US$30.2 Billion in the year 2022, is projected to reach a revised size of US$43.5 Billion by 2026, growing at a CAGR of 10.8% over the analysis period. Reagents, one of the segments analyzed in the report, is projected to grow at a 10.6% CAGR to reach US$34.8 Billion by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Instruments segment is readjusted to a revised 11.8% CAGR for the next 7-year period. This segment currently accounts for a 17.2% share of the global Proteomics market.
The U.S. Market is Estimated at $11.5 Billion in 2022, While China is Forecast to Reach $3.9 Billion by 2026
The Proteomics market in the U.S. is estimated at US$11.5 Billion in the year 2022. The country currently accounts for a 37.7% share in the global market. China, the world’s second largest economy, is forecast to reach an estimated market size of US$3.9 Billion in the year 2026 trailing a CAGR of 13.6% through the analysis period. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 9.2% and 10.1% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 10.3% CAGR while Rest of European market (as defined in the study) will reach US$4.3 Billion by the close of the analysis period.
Major driving factors of growth in the market include growing demand for personalized medicine, growing applications of proteomics in drug discovery, rise in demand for early diagnosis and treatment of diseases, technical advancements, rise in birth disorders and genetic disorders and the rapidly growing pharmaceutical and biopharmaceutical markets. Other factors supporting growth include development of protein targeted treatments and precision molecular medicines for many autoimmune diseases, development of mass spectrometry-based proteomics, and development of molecular targets in malignancies. Increasing focus of biotechnological and pharmaceutical companies in research and development for identifying new proteomics applications, development of new drugs, and proteomics biomarker discovery in different types of diseases such as cardiovascular diseases and cancer is the major trend in the global proteomics landscape. Proteomics is extensively used in protein expression profiling, targeted protein quantitation, analysis of interactions between proteins, and post-translational modification in different segments of the pharmaceutical industry. Advanced proteomics solutions are finding extensive application in diagnostic services, drug discovery and other research fields. Proteomics is a promising approach towards personalized medicine to treat several diseases, such as diabetes, obesity, fatty liver, neurological diseases, and cancer.
In addition to the rising incidence of cancer, diabetes, and other potentially fatal diseases, there is a rise in disorders, such as autism and Alzheimer’s, which are highly wanting in terms of research and cure. Use of plasma proteomics method for proteomic biomarker identification is associated with challenges of patients’ variation and high dynamic range of plasma proteins. However, increasing focus on specialty medicines due to technological advancements, sophisticated software, and tools such as IoT, data analytics, big data, and artificial intelligence in the clinical research related to proteomics could create new opportunities for the proteomics market. The sustained increase in the popularity of personalized medicine and protein therapeutics, together with the availability of newly developed proteins, is projected to increase the demand for proteomic technologies in drug development processes and as diagnostic tools, driving growth of the market.
Services Segment to Reach $3.3 Billion by 2026
In the global Services segment, USA, Canada, Japan, China and Europe will drive the 9.9% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$1.5 Billion will reach a projected size of US$2.9 Billion by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$314.8 Million by the year 2026. More
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SOURCE Global Industry Analysts, Inc.
