Published Date : 30 Jun 2023
The global proteomics market size was exhibited at USD 29.34 billion in 2022 and it is projected to attain around USD 74.8 billion by 2030, poised to grow at a CAGR of 12.41% between 2022 and 2030.
The market is valued at U.S. dollars 25 billion in the year 2022 and it is expected to reach U.S. dollars 22 million by the year 2030. The number of research activities in the field of personalized medicines have grown significantly in recent years and this happens to be a major growth factor. The amount of expenditure made in research and development activities by biotechnology companies and pharmaceutical companies has also increased. The instruments are expensive and the Management of data has certain setbacks due to which the market growth will be hampered.
On the basis of the products used the segment of consumables and reagents is expected to have the largest market share in the coming years. A large amount of reagents as well as consumables are used in the market. The amount of chemicals come as strips and the kids used for the analysis or examination of biological samples in the research lab as well as the academic institutes has grown. Due to which the need for consumables is expected to grow significantly in the coming years. Turn technological advancements have been extremely instrumental in increasing efficiency as well as speed.
The need for automation has also increased due to which many cost-effective ways are provided in the market. On the basis of application, the clinical diagnostic segments has dominated the market in the past with a share of about 52% in terms of revenue and this will increase in the coming years. There are many reasons to the growth of this segment like the greater use of the protein analysis technique by the researchers. Many communities will be provided in the market. The drug discovery segment also expected to have a significant growth in the coming years. Personalized drugs are in great demand especially in the developed nations. On the basis of technology, the spectroscopy segment will dominate the market as it has done in the past with a share of about 48% in terms of revenue. This technology is used in many applications and processes of drug development. It also helps in pharmaceutical analysis and forensic analysis.
Proteomics Market Report Scope:
|Market Revenue in 2023||USD 32.98 Billion|
|Projected Forecast Revenue in 2030||USD 74.8 Billion|
|Growth Rate from 2022 to 2030||CAGR of 12.41%|
|Largest Market||North America|
|Forecast Period||2022 To 2030|
|Regions Covered||North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa|
The north American region is expected to have the largest market share in the coming years. The amount of investment made by the biotechnology and pharmaceutical companies for the activities of development and research have grown significantly. The growing need for personalized medicines has also been a boon for the growth of this market. The research tools used in this field are high-quality tools that help in increasing productivity. The need for personalized medicines or therapeutics has grown significantly for many developed regions across the world.
The Asia Pacific region is also expected to show significant growth in the coming years. There are a large number of players present in the North American region due to which the awareness regarding the availability of such products and the benefits associated with the use of these techniques have been instrumental in the growth of the market. The fastest compound annual growth rate will be registered in the Asia Pacific region which is expected to be about 16% in the coming years. As the number of various chronic diseases has increased in the Asia Pacific region the demand for this technique will grow significantly. The use of proteomics in the treatment of diseases and the diagnosis of diseases have grown significantly in this region and the researchers are also engaged in such activities.
in the recent years the number of genetic disorders and cancer have grown significantly due to which the need for proteomics has also increased to a great extent. Many new discoveries have also been made for the field of life sciences. human genome complete sequencing was also possible due to a large number of discoveries. As the amount of research is expected to grow in the coming years many new technologies will be incorporated. These technologies will be extremely important for dialysis of the tissue samples and the serum samples. Extensive information can be obtained through the use of this technology. Scientists and clinicians can make great use of such technologies for understanding the case of the patients suffering with cancer.
The cost of the instruments used in the yeah technique of proteomics is extremely high. One of the methods that is extensively used in proteomics is of X-ray crystallography. Attempts in gene cloning, crystallization and the purification of proteins and it also helps in protein expression. All the procedures conducted in the laboratories consume a lot of time as the amount of time consumed for such processes is more the cost of such processes also increases to a great extent. The price of the reagents and instruments used in the procedure makes it extremely difficult for these techniques to be adopted extensively in the developing nations across the world and this happens to be a major restraint in the growth of the market.
Play the night introduction of nano proteomics is new in the field and this shall play a significant role in providing major opportunities for the growth of the market in the coming years. It has many applications like nanostructured surfaces which are used for the protein separation. Other techniques are used for detecting the biomarker proteins.
The major challenges that this industry faces and that are of the storage and management of data. The instruments are expensive and this happens to be another challenge in the growth of the market. There's a major disconnect in the approval and discovery of biomarkers and this shall hamper the growth of the market in the long run.
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