Global Proteomics Market (by Product, Application, Technology, End User, & Region): Insights and Forecast with Potential Impact of COVID-19 (2022-2027)
- Published: 4th Nov 2023
- Pages: 172
- Format : Pdf
Market Insight:
The study of proteins and their structure, function, and expression is known as proteomics. It helps to comprehend how all of an organism's protein content functions and interacts. Additionally, prognostic indicators and diagnostic tools for infectious disorders including malaria and cancer are discovered via proteomic research. Additionally, the pharmaceutical sector uses proteomics to find and confirm the effectiveness of biomarkers as well as to research the mechanism of therapeutic action or toxicity.
Over the coming years, growth in the market is anticipated to be fueled by technological improvements, higher research funding, rising healthcare expenses, growing demand for custom treatment, and rising rates of genetic disorders. The global proteomics market is expected to reach US$39.03 billion by 2023, growing at a CAGR of 25% during the forecast period.
Segment Covered:
- By Product: In terms of product, the global proteomics market is segmented into three segments: Reagents, Instruments and Services. Reagents segment acquired majority of share in the market, due to extensive use of reagents & consumables, kits, chemicals, and strips for the examination of various biological samples in academic institutions, research labs, and others, which will increase the demand for reagents & consumables fueling the segment growth. The same segment is expected to grow on a significant CAGR in the future due to technological developments of advanced instruments, such as 2-D electrophoresis protein analyzers.
- By Application: On the basis of application, the market report has segmented the global proteomics market into three segments: Drug discovery, Disease diagnosis and others. Drug discovery segment acquired majority of share in the market, due to the development of structure-based drug design, a greater emphasis on creating personalized drugs, and more investments in these areas can all be credited for the segment growth. Drug discovery segment is expected to have the highest CAGR in the future due to proteomics technologies also offer a way to show early on in a drug discovery program, saving pharmaceutical corporations a significant amount of capital and eventually benefiting patients as well as the healthcare systems.
- By Technology: Further, the report splits the global proteomics market into seven segments on the basis of technology: X-Ray crystallography, Surface Plasmon Resonance, Protein Fractionation, Electrophoresis, Protein Microarrays, Spectroscopy and Chromatography. Protein Microarrays segment held the maximum share in the market, because of high usage of this technology to track protein interactions in lesser time as compared to other technologies. Also, Protein Microarrays is predicted to have the highest CAGR in the future because this method is labor-intensive and cost-effective.
- By End Users: According to the end users, the report splits the global proteomics market into five segments: Pharmaceutical companies, Hospitals, Clinical laboratories, Academic research laboratories and others. Pharmaceutical companies segment held the maximum share in the market, due to the increasing investments in R&D that the companies have been making in the field of genomics and Proteomics. However, Academic research laboratories segment is predicted to have the highest CAGR in the future because of the increase in government support for clinical research projects.
Geographic Coverage:
According to this report, the global proteomics market can be divided into four major regions: North America, Asia Pacific, Europe, and Rest of the World. The countries covered in North America region are the US, Canada, and Mexico, while Europe includes Germany, UK, France, Italy, Spain and Rest of Europe. Moreover, China, Japan, India, and Rest of Asia Pacific are included in the Asia Pacific region.
The North America proteomics market enjoyed the largest market share, primarily owing to increase in popularity and adoption of personalized medicines and favorable government funding & initiatives to develop novel therapeutics. While the US continues to be a prominent region of North America proteomics market, accounting to the rise in awareness and use of proteomics and technological advancements contribute majorly to the market growth of the region.
Top Impacting Factors:
Growth Drivers
- Rising Prevalence Of Cancer And Associated Genetic Disorder
- Faster Turn–around Times (TAT)
- Growth in Investments in Biotech Companies
- Increased Investments in R&D in the Field of Proteomics
Challenges
- Dynamic Range
- High Cost Of Instruments
Trends
- Artificial Intelligence in Proteomics
- Surge in Drug Discovery
- Emerging Method: High-Plex Proteomics
- Increasing Prominence Of Nanoproteomics
Driver: Growth in Investments in Biotech Companies
Increased investment in biotech companies in 2020 supported the development of the proteomics market. The pandemic has adversely affected most sectors, including healthcare. However, publicly traded biotech companies saw investment growth in March 2020 after the first indiscriminate shock in share prices. The Nasdaq Biotech Index has surged 11% since early 2020 after he surged 20% in 2019, taking him from a slump to a five-year high. generated nearly US$8 billion in revenue, up from the same period in 2019. Hence, increased investment in biotech companies during the COVID-19 outbreak is one of the key factors behind the growth of the proteomics market.
- Challenge: High Cost Of Instruments
Companies rely on publicly available structure data and trial-and-error methods to identify compounds that either stimulate or inhibit target proteins. Protein structure requires the use of fast, high throughput tools and machines. One of the most widely used methods in proteomics is X-ray crystallography, which is used for gene cloning, protein expression, purification, and crystallization of proteins. All of these procedures necessitate a large number of laboratory hours, which raises the per-sample testing costs. The high cost of instruments and reagents makes it difficult for developing countries to enter the proteomics field. The need for a longer period of time in the laboratories means that the cost of the treatment increases. The expensive equipment and chemicals used in this technology are limiting its use in developing countries. A popular method for proteomics is X-ray crystallography, which allows for protein expression and gene cloning. The powder can help in protein crystallization and purification. The process of adopting these procedures in developing nations will be less effective due to the time-consuming nature of the process. This is a challenge for the market's growth in the long run, as it will limit the market's growth.
- Trend: Artificial Intelligence in Proteomics
One of the most significant advances in proteomics in recent years has been the "boost" provided by artificial intelligence (AI)-based methods. At various stages of the proteomics analytical pipeline, machine learning, deep learning, and other AI approaches are being used. Artificial intelligence (AI) applications in proteomics are already reshaping the drug discovery landscape. Understanding how and why specific proteins interact is critical for progressing cell biology, developing new drugs, and determining how drugs may have both therapeutic and adverse effects. Aside from MS-based methods, AI is making inroads into the choreography of protein movements, a research area critical to understanding pathologies characterized by tangled, clumped up proteins, such as Alzheimer's disease. The key methods used in this space, microscopy and Förster resonance energy transfer (FRET), generate large data sets that require time and expertise to analyze.
The COVID-19 Analysis:
Due to the COVID-19 pandemic, some clinical studies were temporarily delayed around the world. The pandemic created a lot of demand for proteomics services, which has had a big impact on the market. There is continued interest in using advanced mass spectrometers to improve quality outcomes for patients. In 2020, new technologies in mass spectrometers allowed the identification of proteins unique to COVID-19. The proteomics industry had seen positive growth during the pandemic.
Analysis of Key Players:
The proteomics market is concentrated with the presence of a few number of players majorly dominating worldwide. Key players of the proteomics market are:
- Bio-Rad Laboratories, Inc.,
- Thermo Fisher Scientific Inc.,
- Danaher Corporation,
- Agilent Technologies,
- PerkinElmer, Inc.,
- Bruker Corporation,
- Illumina Inc.,
- Waters Corporation,
- DiaSorin SpA (Luminex Corporation)
- Promega Corporation
- Horiba, Ltd.,
The key players are constantly investing in strategic initiatives, such as new product launches, introducing their products to emerging markets and more, to maintain a competitive edge in this market. For instance, In March 2022, Biognosys introduced an expanded suite of proteomics platforms, namely The True Discovery, True Target, and True Signature, which provides biological insights across the entire R&D pipeline, from early-stage discovery to clinical settings for pharmaceutical and diagnostics customers. Also, In January 2021, SCIEX acquired Intabio Inc. with this acquisition, SCIEX aims to use its knowledge of the biopharma market, capillary electrophoresis, and mass spectrometry, and Intabio’s technology to swiftly introduce the life-saving drugs to the market.
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