April 12, 2024
Proteomics Market

Proteomics Market is Estimated to Witness High Growth Owing to Rising Incidences of Chronic and Infectious Diseases

The proteomics market has emerged as an important tool for biomarker discovery and better disease diagnosis. Proteomics provides a dynamic view of biological processes by analyzing protein expression, localization, structure, and interactions which help gain insights into disease mechanisms and identify potential drug targets. Rising prevalence of various chronic and infectious diseases has fueled the demand for proteomics in drug discovery and precision medicine.

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 Market Size 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.

The key opportunities in the proteomics market include advancement of mass spectrometry technologies, multi-omics approach integration, big data analytics and artificial intelligence. Companies are focusing on development of high resolution and high throughput mass spectrometers, software for better data processing and analysis. Integration of proteomics with other OMICs techniques like genomics, transcriptomics and metabolomics is expected to provide more comprehensive insights into biological systems.

The global proteomics market is expected to witness high growth owing to increasing R&D investments by pharmaceutical and biotechnology companies. North America dominates the global proteomics market due to well-established healthcare industry and presence of major market players. However, Asia Pacific region is expected to exhibit high growth over the forecast period attributed to increasing healthcare expenditure, favorable government policies and rising awareness.

Market drivers

Rising incidences of chronic and infectious diseases globally is the major factor driving the growth of proteomics market. Proteomics is frequently used for early detection, accurate diagnosis, prognostic assessment and monitoring response to therapy for various diseases like cancer, cardiovascular diseases, neurological disorders, infectious diseases.

In addition, increasing investments in proteomics research by both public and private organizations to develop novel treatment approaches for complex diseases is also fueling the market growth. Mass spectrometry-based proteomics offering accurate protein profiling is facilitating transition to predictive, preventive and personalized healthcare models.

PEST Analysis

Political: Regulations imposed by government authorities on proteomics research, health policies and guidelines regarding use and storage of biological samples can impact the market.

Economic: Growing spending on life science research, increasing adoption of omics technologies in drug discovery and development supports market growth. However, high costs associated with proteomics tools and services can restrain market.

Social: Increasing prevalence of cancer and other chronic diseases propels research to develop effective diagnostics and therapeutics. Growing acceptance of personalized medicine enhances adoption of proteomics technologies.

Technological: Advancements in proteomics platforms, workflows, and data analytics have enabled high-throughput profiling of proteomes. Digitization and automation of proteomics tools have improved throughput and reproducibility. Integration of proteomics with other omics also enhances insights.

North America holds the largest share of the proteomics market in terms of value, accounting for around 40% share. Presence of prominent life science companies, research institutes, favorable funding environment for omics research drives demand.

The Asia Pacific region is expected to be the fastest growing market during the forecast period. This is attributed to rising healthcare expenditure, expanding biopharma industry, and growing investments by governments and private entities in proteomics and omics research. Increasing outsourcing of proteomics services by North American and European companies to Asian countries also supports market growth in the region.

Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it