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 according to a new report by MarketsandMarkets. The global 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%. 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.
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The major players operating 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).
Merck KGaA (US) is a leading player across all the regions in proteomics market. Merck offers a wide range of proteomics solutions and services, such as assays, reagents, protein sample preparation services, detection and quantification kits, and other instruments through its Life Sciences business segment. The company operates in the US, Europe, the Asia Pacific, the Middle East, and Africa. Some of its major subsidiaries are Merck Millipore (US), EMD Pharmaceuticals Inc. (US), and Sigma-Aldrich Corporation (US). The company adopted expansion as a key strategy to strengthen its position globally and expand its product portfolio. For instance, in 2018, the company opened a new 3,800-square-meter laboratory in Singapore. This SGD bio-testing lab is the first of its kind outside of the US and the UK.
Danaher Corporation (US) is one of the leading players operating in the proteomics maket. The company has a strong product portfolio and a global presence in the diagnostics market. Danaher has adopted organic and inorganic growth strategies, such as product launches and partnerships, to strengthen its position in this market. For instance, in 2018, company launched BioPharmaView Software 3.0 and OptiFlow Quant Solution.
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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.
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North America is the largest regional market for proteomics market
The global proteomics 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.
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