Proteomics Market is estimated to reach USD 55.9 billion by 2026, according to a new report by Markets and Markets, Inc. Proteomics is the study of the structure and function of proteins in a given organism. The increasing need for personalized medicines, the growing demand for biomarker discovery, and the increasing demand for research activities are some of the key factors driving the growth of this market.
The proteomics market is highly fragmented and is dominated by various players offering proteomics products and services. The major players in this market are Thermo Fisher Scientific Inc. (US), Bio-Rad Laboratories, Inc. (US), Merck KGaA (Germany), Agilent Technologies, Inc. (US), Bruker Corporation (US), Danaher Corporation (US), GE Healthcare (US), Luminex Corporation (US), PerkinElmer Inc. (US), Waters Corporation (US), Illumina, Inc. (US), Eurofins Scientific (Luxembourg), QIAGEN Bioinformatics (Netherlands), Creative Proteomics (US), Promega Corporation (US), Sengenics (Singapore), Biomax Informatics AG (Germany), MS Bioworks LLC (US), WuXi NextCODE (China), Fios Genomics Ltd. (UK), GENEWIZ (US), Biognosys AG (Switzerland), Bioproximity (Switzerland), MRM Proteomics Inc. (Canada), Integrated Proteomics Applications (US), Poochon Scientific, LLC (US), Proteome Factory AG (Germany), VProteomics (India), HORIBA, Ltd. (Japan), and Applied Biomics, Inc. (US).
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The core proteomics services segment accounted for the largest share of the proteomics market, by product segment, in 2020
Based on service and software, the proteomics market is segmented into core proteomics services and bioinformatics software & services. In 2020, the core proteomics services segment accounted for the largest share of the global proteomics market. Core proteomics services form the basis of proteomics and are highly adopted at every stage of proteome analysis.
Clinical Diagnostics segment to register the largest share during the forecast period
Based on applications, the proteomics market is segmented into drug discovery, clinical diagnostics, and other applications. In 2020, the clinical diagnostics segment accounted for the largest share of the proteomics market. This can be attributed to the increased understanding of the relevance of investigating and understanding patterns of protein expression for disease diagnostics and drug development.
The rising prevalence of chronic diseases, such as cancer, heart disease, and neurological diseases, has further been contributing to the growth of the proteomics market. This is due to the need to identify biomarkers to detect and diagnose the diseases at early stages. The increasing use of proteomics in drug discovery has also been driving the market growth.
The increasing number of collaborations between research institutes, drug manufacturing companies, and biotechnology companies is also aiding market growth. Additionally, the increasing adoption of advanced technologies, such as mass spectrometry, liquid chromatography, and western blotting, has also been driving the market.
The increasing focus on omics-based research and the growing demand for personalized medicine are some of the key trends currently observed in the proteomics market. Governments across the world are investing heavily in R&D activities to develop personalized medicines and to identify biomarkers for disease diagnosis.
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Recent Developments
- In 2021, Thermo Fisher Scinetific (US) acquired Phitonex (US).
- In 2020, Perkin Elmer (US) launched SARS-COV-2 Antigen Elisa Test.
- In 2020, Bruker Corporation (US) acquired Integrated Proteomics Applications’ IP2 software.
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