Proteomics Market Research Report: by Equipment (Chromatography, Mass Spectroscopy, Protein Microarray, Others), by Services (Laboratory Services, Data Analysis & Services), by Application (Drug Discovery, Clinical Diagnosis, Others) - Global Forecast Till 2023
Proteomics Market Overview:
The Global Proteomics Market is rising pervasively mainly due to the proliferating trend of personalized medicines. Proteomics is used in drug discovery and clinical diagnosis for a number of applications such as the investigation of protein expression, metabolic pathways, transcriptional & post-transcriptional studies, protein interaction in diseases, etc. Moreover, the burgeoning sectors such as healthcare and pharmaceutical escalate the market on the global platform.
Analyzing the ascending graph of the growth, the market is climbing steadily, Market Research Future (MRFR), in its recently published study report confirms that the global proteomics market will quadruple by 2023, registering a staggering double-digit CAGR over 14.1 % throughout the forecast period (2018 to 2023). In 2017, the market had accounted for a valuation of USD 23.2 BN.
Additional factors that are boosting the growth of the market include the increasing research & development activities predominantly led by the government support, rising demand for personalized medicines, and the rising number of approvals of personalized medicines. Furthermore, increasing activities of drug discovery in the rapidly proliferating pharmaceutical industry foster the growth of the market to an extent.
Conversely, factors such as the huge capital investment with low-profit margins, strict FDA regulations are impeding the growth of the market growth. However, factors such as the increasing government assistance, rising funding & reimbursement and improving regulatory framework would support the growth of the market during the assessment period. Also, the growing geriatric population and technological advancements in the medicinal field are contributing to the growth of the market.
Major Players:
Key players leading the Global Proteomics Market include Bio-Rad Laboratories, Inc., General Electric Company, Danaher, Siemens Ltd., Agilent Technologies, Inc., Thermo Fisher Scientific Inc. Inc., Genzyme Corporation, Bruker, Biognosys AG, Luminex Corporation, PerkinElmer Inc., Merck KGaA, WATERS, and Caprion Biosciences Inc. among others.
Global Proteomics Market – Segments
For ease of understanding, the report is segmented into four key dynamics: -
By Equipment : Chromatography, X-ray Crystallography, Protein Fractionation, Mass Spectroscopy, and Protein Microarray among others.
By Services : Laboratory Services, and Data Analysis & Services among others.
By Application : Drug Discovery and Clinical Diagnosis among others.
By Regions : North America, Asia Pacific, Europe, and the Rest-of-the-World.
Global Proteomics Market – Geographical Analysis
The North American region, heading with the rising funding from government dominates the global Proteomics market. Moreover, factor such as the spreading awareness towards cost-effective applications of proteomics and increasing demand for personalized medicines drive the growth of the regional market. The increasing consumption of medicines led by the prevalence of chronic diseases, well-established healthcare sector, and the growing trend of personalized medicines are some of the other key driving forces behind the market growth in the region.
Also, factors such as the high healthcare expenditures, and augmenting demand for the novel drug discoveries substantiate the growth of the Proteomics market in the North American region. The North America Proteomics market is projected to grow at a substantial CAGR, creating a larger revenue pocket by 2023.
The Proteomics market in the European region accounts for the second-largest market, globally. Factors such as financial support by the government for cancer research activities and the patent expiration of numerous blockbuster drugs are estimated to drive the regional Proteomics market. Furthermore, the burgeoning pharmaceutical industry is a key driving force fostering the growth of the regional market and allowing it to grow at a considerable CAGR.
The Asia Pacific Proteomics market is rapidly emerging as a promising market, globally. The availability of cost-competitive skilled labor force and raw materials are the key driving forces behind the growth of the regional market, encouraging foreign investors to shift their production bases in this rapidly growing market.
Additionally, factors such as the huge developments in the pharmaceutical sector, demand for breakthrough drug discoveries, and huge patient pool propels the growth in the regional market. The increasing demand for personalized medicine that is led by the rising prevalence of cancer and other such diseases and presence of a large number of manufacturers of personalized drugs will support the regional market to register a phenomenal CAGR throughout the forecast period.
Get Full Report at https://www.marketresearchfuture.com/reports/proteomics-market-6930
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