The Proteomics Market is estimated to reach USD 72.9 billion by 2028 from USD 36.8 billion in 2023, at a CAGR of 14.6% during the forecast period. The growth of this market is mainly driven by the increased demand for personalized medicines, the rising incidence of chronic diseases, and technological advancements in proteomics. Furthermore, increased investment in research & adoption of proteomics in drug discovery is likely to uplift market growth in coming years.
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Browse in-depth TOC on “Proteomics Market”
707 – Tables
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Key Market Players:
Some of the prominent players in the proteomics market are Thermo Fisher Scientific, Inc. (US), Danaher Corporation (US), Merck KGaA (Germany), Agilent Technologies, Inc. (US), and Waters Corporation (US) and among others.
Thermo Fisher Scientific, Inc. (US)
Thermo Fisher Scientific, Inc. (US) is one of the leading player in the proteomics market in 2022. The company’s leading position is attributable to its diversified product & service portfolio, strong geographic presence, and adoption of organic and inorganic growth strategies. The company has adopted different growth strategies, such as deals that include agreements, and acquisitions, to maintain its leading position in the proteomics market. Thermo Fisher Scientific has concentrated its focus on the implementation of advanced technologies for proteomics. For example, in June 2022, the company entered into a co-marketing agreement with Transit GmbH to promote the use of a mass spectrometry imaging (MSI) platform for spatial multi-omics applications in pharma and clinical labs.
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Proteomics Market Dynamics:
Drivers:
- Increasing demand for personalized medicines for clinical practices
- Rising incidences of chronic diseases among geriatric population
- Increased investments in research and greater adoption of proteomics in drug discovery
- Technological advancements in proteomics
Restraints:
- High costs of proteomics instruments and technologies
- Lack of standardization in proteomics workflow among research groups
Opportunities:
- High growth opportunities for proteomics research in emerging countries
- Growing prominence of nano proteomics in biological processes
Challenges:
- Low biomarker discovery to approval ratio in proteomics research
- Lack of data management/handling in proteomics research
Spectroscopy accounted for the largest share of the instrumentation technologies segment in the proteomics market in 2022.
Based on instrumentation technologies, the proteomics market is broadly segmented into spectroscopy, chromatography, electrophoresis, protein microarrays, X-ray crystallography, surface plasmon resonance, protein fractionation, and other technologies. In 2022, spectroscopy accounted for the largest share of the proteomics market for instrumentation technologies. This segment’s large share can be attributed to factors such as being widely utilized for studying proteins, their structures, interactions, and functions. Spectroscopic techniques provide valuable insights into the properties of proteins, including their secondary and tertiary structures, conformational changes, and ligand binding.
Mass spectrometry technology accounted for the largest share of the type segment in the proteomics market in 2022.
Based on type, spectroscopy instrumentation technology is categorized into three sub-segments— mass spectrometry (MS), NMR spectroscopy, and circular dichroism (CD) spectroscopy. In 2022, mass spectrometry accounted for the largest share of the spectroscopy instrumentation technology segment. Factors such as the MS can analyze large numbers of samples in a short period of time, making it ideal for large-scale proteomics studies is attributed to its large share.
Gel electrophoresis technology accounted for the largest share of the type segment in the proteomics market in 2022.
Based on type, electrophoresis instrumentation technology is categorized into two sub-segments— Gel and capillary electrophoresis. In 2022, gel electrophoresis accounted for the largest share of the electrophoresis instrumentation technology segment. Factors such as the increasing demand for gel electrophoresis in proteomics research and personalized medicine is a major factors driving the growth of the overall gel electrophoresis market.
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Recent Development:
- In February 2023, Waters Corporation acquired Wyatt Technology, which enhances the portfolio of Separation and Detection, which provides customers with an unmatched set of analytical solutions across a wide range of applications.
- In October 2022, Agilent Technologies Inc. and CMP Scientific Corp. entered into a co-marketing agreement to provide an integrated capillary electrophoresis-mass spectrometry (CE-MS) solution for the life science and pharmaceutical industries.
- In November 2021, Thermo Fisher Scientific acquired Belgium-based Pharmafluidics, the developer of the uPAC range of micro-chip-based chromatography columns. The upac portfolio of columns enhances liquid chromatography (lc) performance in biomarker, proteomics, and drug r&d applications, helping biotechnology and pharmaceutical companies uncover new insights and advance scientific discovery.
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