Global Proteomics Market is expected to grow significantly over the forecast period. It is anticipated that the market held a valuation of USD 23.2 Billion in 2017 and is projected to grow at a CAGR of 14.1% over the forecast period. Proteomes are a set of proteins which are produced in a system, organism, or any biological entity. Study of proteomes is known as proteomics. It is used in various applications, like investigation of protein expression, transcriptional & post transcriptional studies, metabolic pathways, protein interaction in diseases, etc.
The factors such as increasing research & development activities in the healthcare industry, rising demand for personalized medicines, rising number of approvals of personalized medicines and increasing activities of drug discovery are expected to propel the growth of the market. According to Foley & Lardner LLP, Food and Drug Administration (FDA) approved 16 new personalized medicine therapies in 2017. However, the high cost of devices and lack of skilled researchers can hamper the market growth over the forecast period.
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The Global Proteomics Market has been segmented into equipment, service and applicationThe market, on the basis of equipment, has been segmented into chromatography, mass spectroscopy, protein microarray, x-ray crystallography, protein fractionation and others.The market, by services, has been segmented into laboratory services and data analysis & services. The laboratory services segment accounted for the largest market share owing to its benefits in effective diagnosis and research for drug discovery. Data analysis and services is expected to register the highest CAGR owing to increasing demand for data analytics.The market, by application, has been segmented into drug discovery, clinical diagnosis and others.
The market has been segmented, by region, into the Americas, Europe, Asia-Pacific, and the Middle East & Africa. The Proteomics Market in the Americas has further been segmented into North America and South America, with the North American market divided into the US and Canada. The European Proteomics Market has been segmented into Western Europe and Eastern Europe. Western Europe has been classified as Germany, France, the UK, Italy, Spain, and the rest of Western Europe. The Proteomics Market in Asia-Pacific has been segmented into Japan, China, India, South Korea, Australia, and the rest of Asia-Pacific. The Proteomics market in the Middle East & Africa has been segmented into the Middle East and Africa.
GENERAL ELECTRIC COMPANY, Bio-Rad Laboratories, Inc., Danaher, Siemens Ltd., Thermo Fisher Scientific Inc. Inc., Agilent Technologies, Inc., Genzyme Corporation, Biognosys AG, Bruker, Luminex Corporation, Merck KGaA, PerkinElmer Inc., WATERS, Caprion Biosciences Inc. and others are some of the key players in the Global Proteomics Market.
Regional Market Summary
Geographically, the Americas is anticipated to dominate the global proteomics market owing to rising funding from government, rising awareness regarding applications of proteomics, cost effectiveness and increasing demand for personalized medicines. According to a report published in a journal named Leukemia Research in November 2017, personalized medicines improve life of cancer patients by 7 months at USD 32,000.
Europe is expected to hold the second largest position in the Global Proteomics Market. The market growth in this region is attributed to rising cancer research activities and government support. The proteomics market in Asia-Pacific region consists of countries namely China, Japan, Republic of Korea, India, Australia and the Rest of the Asia-Pacific. The Asia-Pacific region is expected to be fastest growing region owing to the increasing demand for personalized medicine due to rising prevalence of cancer and other such diseases and presence of large number of manufacturers of personalized medicines in the region. According to a report published by the National Institute of Cancer Prevention and Research (NICPR), around 2.25 million people in India are living with cancer in 2018.
The Middle East & Africa are expected to hold the least share of the market. The market growth in this region is expected to be driven by a developing healthcare infrastructure.