by Proteomics provides benefits such as identifying biomarkers related to diseases, target identification for drug development, and understanding biological mechanisms. The rising need for personalized medicine and protein-based drugs has led to considerable advancement in proteomics techniques.
The Global Proteomics Market is estimated to be valued at US$ 42.4 Bn in 2024 and is expected to exhibit a CAGR of 19% over the forecast period 2024 to 2031.
Key Takeaways
Key players operating in the Proteomics are Thermo Fisher Scientific, Agilent Technologies, Bio-Rad Laboratories, Merck KGaA, Danaher Corporation.
The growing demand for personalized medicine and protein-based drugs has fueled the growth of the Proteomics Market Size. Proteomics allows for the identification of disease biomarkers and protein signatures associated with different diseases. This enables targeted drug development and precise diagnosis and treatment.
The global expansion of proteomics companies aided by collaborations and partnerships has increased the adoption of proteomics worldwide. The applications of proteomics in various industries such as healthcare, pharmaceutical and biotechnology are driving higher investment in proteomic technologies.
Market key trends
Data-driven discovery using proteomics is a key trend in the market. Analysis of massive protein datasets using bioinformatics and machine learning is allowing researchers to gain novel insights. Pattern recognition techniques are utilized for biomarker detection, mapping protein-protein interactions, and network analysis. Integration of multi-omics datasets with proteomics is also gaining traction to gain a systems-level understanding of biological systems and mechanisms. This trend is expected to fuel better target identification and therapeutics development.
Porter’s Analysis
Threat of new entrants: Low requirement of capital investment allows new companies to easily enter the market. However, presence of well-established players creates barriers.
Bargaining power of buyers: Buyers have high bargaining power due to availability of substitute products. They can negotiate on price and demand additional services.
Bargaining power of suppliers: A few major biotech companies dominate the supply market. Their integration with proteomics instruments manufacturers increases suppliers’ bargaining power.
Threat of new substitutes: Technological advancements led to emergence of alternatives like metabolomics and glycomics. However, proteomics still remains the gold standard for biomarker discovery and protein expression analysis.
Competitive rivalry: Intense competition exists among key players to gain market share by expanding their product portfolio and commercializing cost-effective proteomics solutions for clinical diagnosis and drug development.
Geographical Regions
North America accounts for the largest share of the proteomics market due to increasing R&D expenditure and proteomics applications in drug discovery and development by pharmaceutical and biotechnology companies in the region.
Asia Pacific is expected to grow at the highest CAGR during the forecast period. This can be attributed to rising proteomics research, increasing healthcare expenditure, and growing collaborations between domestic and international market players in China, Japan, and India to bolster their presence in the emerging Asia Pacific proteomics market.
*Note:
1.Source: Coherent Market Insights, Public sources, Desk research
2.We have leveraged AI tools to mine information and compile it
About Author - Money Singh
Money Singh is a seasoned content writer with over four years of experience in the market research sector. Her expertise spans various industries, including food and beverages, biotechnology, chemicals and materials, defense and aerospace, consumer goods, etc. LinkedIn Profile
