Opportunities for Proteomics Market to Grow at 14.1% CAGR By Size, Share Till 2023

Market Research Future (MRFR) announces the publication of its research report –Global Proteomics Market, 2018-2023. The report users will gain access to drivers, restrains and opportunities that are expected to govern the market during the forecast period.

Pune, Maharashtra - March 15, 2019 /MarketersMedia/ —

Proteomes are a set of proteins which are produced in a system, organism, or any biological entity. Study of proteomes is known as proteomics. The Global Proteomics Market is anticipated to hold a market value of USD 23.2 billion in the year 2017 and is expected to grow at a CAGR of 14.1% during the forecast period.

Increasing need for personalized medicine, R&D expenditure, technological advancements and increased funding for proteomics project are expected to drive the market growth over the forecast period. For instance, in July 2017, Biognosys AG received USD 5 million funding from its new as well as existing investors. These new funds will be used for extending commercial operations and also to accelerate the development of next generation proteomics workflows. However, reduced funding in key markets of proteomics, high cost of tools & equipment and lack of skilled researchers can restrain the market growth over the assessment period.

According to Foley & Lardner LLP, Food and Drug Administration (FDA) approved 16 new personalized medicine therapies in 2017. However, the high cost of devices and lack of skilled researchers can hamper the market growth over the forecast period.

Proteomics Market - Major Players

Some of the prominent players in the Global Proteomics Market are General Electric Company, Bio-Rad Laboratories, Inc., Danaher, Siemens Ltd., Thermo Fisher Scientific Inc., Agilent Technologies, Inc., Genzyme Corporation, Biognosys AG, Bruker, Luminex Corporation, Merck KGaA, PerkinElmer Inc., WATERS, Caprion Biosciences Inc. and Others.

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Proteomics Market - Regional Analysis

On the regional basis, the global market in the Americas is segmented into two major regions, i.e., North America and South America. The North American region is likely to hold the major share in the global proteomics market owing to the rapid adoption of new technologies and investments in personalized medicines. According to a report published by the Personalized Medicine Coalition, the Food and Drug Administration approved a record number of 19 personalized medicines in 2017.

It is the fourth consecutive year that personalized medicines accounted for more than 20 percent of all new drug approvals. The European region is anticipated to be the second largest due to the presence of a well-developed healthcare infrastructure and rising adoption of new technologies. The Asia-Pacific region is anticipated to be the fastest growing region due to the rising proteomics research. Middle East and Africa is anticpated to hold the least market share.

Proteomics Market – Segmental Analysis

The Global Proteomics Market has been segmented into equipment, service and application.

The market, on the basis of equipment, has been segmented into chromatography, mass spectroscopy, protein microarray, X-ray crystallography, protein fractionation and others.The global market, on the basis of services, has been segmented into laboratory services and data analysis & services.

The Global Proteomics Market, by application, has been segmented into drug discovery, clinical diagnosis and others. The clinical diagnosis segment is expected to hold the largest market share owing to the increased understanding of the relevance of investigating and understanding patterns of protein expression for diseases & drug development. The drug discovery segment is anticipated to grow at the fastest CAGR owing to continuous search for alternative & efficient methods to deliver enhanced drugs and increased R&D investments by pharmaceutical & biotechnology companies.

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Source URL: https://marketersmedia.com/opportunities-for-proteomics-market-to-grow-at-141-cagr-by-size-share-till-2023/492707

Source: MarketersMedia

Release ID: 492707

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