However, stringent regulatory approvals, high cost of the instruments, and dearth of qualified researchers are expected to restrain the growth of the market. The global proteomics market is expected to reach $44,452 million by 2022 from $17,988 million in 2015 at a CAGR of 13.7%
Proteomics market is the study of structure and functions of proteins. After the advent of genomics and transcriptomics, proteomics was the next step in the study of biological systems.
It is a complex study when compared to genomics, as an organism's genome is constant, while the proteome differs with cells and time.
The proteomics market has experienced a striking growth in the past few years as these have been found to be extremely beneficial in the diagnosis of diseases and identification of potential new drugs for the treatment of diseases.Factors such as the rise in focus of the key players, increase in R&D expenditure on proteomics, increase in popularity for personalized medicines, and technological advancements in proteomics are set to drive the market.
The global proteomics market is segmented into instruments, reagents, and services. Based on technology, the instruments segment is further divided into protein microarray, spectrometry, chromatography, electrophoresis, surface plasmon resonance, X-ray crystallography, and protein fractionation systems.
In the year 2015, protein microarrays accounted for the highest market share of instruments markets followed by spectrometry. In the reagents segment, immunoassays dominated the market in 2015, followed by spectroscopy and microarray reagents.
On the basis of applications, the market is segmented in drug discovery, disease diagnosis, and others. Drug discovery was the largest application of proteomics in 2015.
Geographically, the market is divided into North America, Europe, Asia-Pacific, and LAMEA. In the year 2015, North America accounted for highest market share, owing to higher popularity of the technology, high cost of instruments, and high funding from the government and organizations such as National Institutes of Health (NIH) and National Science Foundation (NSF).
Asia-Pacific is expected to witness fastest growth rate during the study period, owing to increase in government and corporate funding for R&D.
Over the past few years, the most important strategy followed by the leading companies was mergers & acquisitions. For instance, Thermo Fisher Scientific acquired Affymetrix Inc.
(May 2016), and Life Technologies (February 2014) and Merck & Co., Inc. acquired Sigma-Aldrich (November 2015).
KEY BENEFITS FOR STAKEHOLDERS
- The study provides an in-depth analysis of the global proteomics market with current trends and future estimations to elucidate the imminent investment pockets.
- The report provides a quantitative analysis from 2014 to 2022, which is expected to enable the stakeholders to capitalize on prevailing market opportunities.
- Extensive analysis by components helps understand the various types of instruments used.
- Competitive intelligence highlights the business practices followed by leading players across various regions.
- Comprehensive analysis of all geographic regions is provided to determine the prevailing opportunities in these geographies.
- Key market players are profiled in the report and their strategies are analyzed thoroughly, which interpret the competitive outlook of the global market.
- Extensive analysis of the market is conducted by closely following key product positioning and monitoring the top contenders within the market framework.
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