April 13, 2024
Proteomics Market

The Global Proteomics Market is Estimated to Witness High Growth Owing to Technological Advancements

The global proteomics market is witnessing high growth owing to increasing demand for drug discovery and development, and technological advancements in the field of proteomics. Proteomics is the large-scale study of proteins, proteome, to understand protein structure and function, protein-protein interactions, expression level changes, posttranslational modifications, protein homeostasis etc. Increasing application of proteomics in various disease research areas like cancer, neurology, infectious diseases, cardiovascular diseases etc. is fueling the growth of this market.

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. Key players are focusing on developing new proteomic techniques, tools and software to accelerate proteomic research activities in key therapeutic areas.

The key opportunities in the proteomics market include increasing investments in proteomic research by pharmaceutical and biotech companies, growing interest of government and private funding bodies, and rising demand for proteomic technologies in precision medicine and personalized drug development. Technological advancements like multi-omics approaches, mass spectrometry imaging, single-cell proteomics etc. are also fueling the adoption of proteomics in various end use industries.

Market Drivers

Rising focus on understanding the role of proteins in biological processes is one of the major drivers of the proteomics market. Understanding protein function and pathways is crucial for developing diagnostics and therapeutics for complex diseases. Increasing R&D investments by biopharma companies in drug discovery and development by integrating proteomics technologies is also expected to propel the market growth over the forecast period.

Current challenges in the Proteomics Market
The proteomics market is facing various challenges like high equipment cost, lack of skilled professionals, complex workflows and data analysis. The instruments and technological aspects involved in proteomics research are highly expensive which inhibits its widespread adoption. Additionally, there is a lack of skilled technical professionals who can efficiently handle proteomic instruments and interpret large proteomics datasets. Proteomics experiments consist of complex multi-step workflows from sample preparation to mass spectrometry analysis and computational analysis of large datasets generated poses difficulties. Standardization of proteomics protocols and data formats is still evolving which hampers collaboration and comparative analysis.

SWOT Analysis
Strength:Advancing technologies like mass spectrometry based techniques have accelerated proteomic analysis. Growing applications in drug discovery and development is driving demand.
Weakness: High equipment and infrastructure costs limit access. Lack of standardized protocols and complex data analysis are challenges.
Opportunity: Expanding role in precision medicine, biomarker identification and disease understanding present opportunities for growth. Integration with other omics technologies will enhance insights.
Threats: Stringent regulations for clinical use and data protection issues can slow commercialization. Intense competition from genomics may divert investments.

Geographical Regions
North America holds the major share of the proteomics market currently due to heavy investments in research and presence of key market players. The region accounted for over 35% market share in 2020 due to advancing research infrastructure and funding initiatives led by National Institutes of Health and other organizations.

The Asia Pacific region is poised to witness the fastest growth during the forecast period on account of increasing government focus and funding for development of biotech industry in countries like China, India and Japan. Rising disease burden, growing proteomics facilities and expanding collaborations between regional and global market players are driving the market in Asia Pacific region.

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