Press Release: July 22, 2020
Global Proteomics Market was valued at US$ 15.2Bn in 2018 and is expected to reach US$ 42.3Bn by 2026, at a CAGR of 13.65%during a forecast period.
Proteomics is provided that a better understanding of the pathomechanisms of human diseases. Analysis of different levels of gene expression in healthy and diseased tissues by proteomic approaches is as significant as the detection of mutations and polymorphisms at the genomic level and may be of further value in designing a rational therapy.
The report study has analyzed revenue impact of covid-19 pandemic on the sales revenue of market leaders, market followers and disrupters in the report and same is reflected in our analysis.
Increasing demand for personalized medicines, growing expenditure on research and development by the leading market key players, many technological advancements, increasing awareness regarding multiple applications of proteomics, growing case of genetic disorders, the ability of proteomics to bridge the gap between cellular behavior and genome expression, and rapid implementation of newest technologies in developed regions are majorly driving the growth of the proteomics market globally.
Governmental efforts to fast track research and development (R&D) activities will create new opportunities for the market players in the proteomics market globally in the years ahead. However, the high cost of instruments, the dearth of skilled research professionals, and lack of awareness regarding proteomics and its applications in emerging regions may restrict the proteomics market globally.
Bioinformatics software & services segment is expected to grow at the highest CAGR throughout the forecast period. With the exponential growth in the determination of protein sequences and structures through genome sequencing and structural genomics efforts, there is a rising need for reliable computational methods to determine the biochemical function of these proteins.
Clinical diagnosis segment is expected to predict a lucrative growth owing to its wide range of applications that contain disease biomarker discovery, personalized medicines, host-pathogen interaction, a study of disease pathogenesis, & identification of drug target.
Region-wise, The Asia Pacific is expected to witness the highest growth rate, with a CAGR of 17.2% during the forecast period, owing to rise in demand for drug discovery and an upsurge in proteomics projects such as the China proteome project in the region. Also, North America accounted for nearly two-fifths of the global market share in 2017 and will maintain its leadership status by 2026. This is because of an increase in funding by various organizations, implementation of agreements and collaborations strategies, and a rise in R&D investments.
The major players involved in the proteomics industry have adopted different key developmental strategies. Such as, ThermoFisher Scientific Inc. launched iXR Raman Spectrometer, which was multi-modal, permitted simultaneous measurements. This new product was designed for quick & accurate chemical and structural analysis in March 2017.
The objective of the report is to present a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, industry-validated market data and projections with a suitable set of assumptions and methodology. The report also helps in understanding Global Proteomics Marketdynamics, structure by identifying and analyzing the market segments and project the global market size. Further, the report also focuses on the competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence. The report also provides PEST analysis, PORTER’s analysis, SWOT analysis to address the question of shareholders to prioritizing the efforts and investment in the near future to the emerging segment in the Global Proteomics Market.