Proteomics Market Is Driven Due To Increasing R&d Expenditure By Pharmaceutical And Biotechnology Companies

By Author: Markets and Markets
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According to the new market research report "Proteomics Market by Product (Spectroscopy, Chromatography, Electrophoresis, X-ray Crystallography), Reagent, Service (Core Proteomics, Bioinformatics), Application (Diagnostic, Drug Discovery), End User (Hospital, Labs, Biopharma) - Global Forecast to 2026", published by MarketsandMarkets™, the Proteomics Market is valued at an estimated USD 25.9 billion in 2021 and is projected to reach USD 55.9 billion by 2026, at a CAGR of 16.6%.

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Factors Driving the Market Growth

An increase in the research activity, especially in the area of personalized medicine and drug discovery, is the primary growth driver for this market. In addition, the increasing R&D expenditure by pharmaceutical and biotechnology companies, increasing government funding, and technological advancements are also propelling the market growth.

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 ...
... 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 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 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.

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North America is the largest regional market for proteomics market

The global market is segmented into North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa. In 2020, North America accounted for the largest market share. This can be attributed to the increasing investments in the development of structure-based drug design, growing research in the field of omics, rising demand for high-quality research tools for data reproducibility, and increasing focus on developing personalized therapeutics. The presence of a large number of global players in this region is also supporting the growth of this market

The major players operating in proteomics 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).