Proteomics Market to Reach $161.9 billion, Globally, by 2035 at 14.2% CAGR: Allied Market Research

PORTLAND, Ore., June 11, 2024 /PRNewswire/ -- Allied Market Research published a report, titled, "Proteomics Market by Component (Reagents, Instruments, and Services), and Application (Drug Discovery, Disease Diagnosis, and Others): Global Opportunity Analysis and Industry Forecast, 2024-2035". According to the report, the "proteomics market" was valued at $32.8 billion in 2023, and is estimated to reach $161.9 billion by 2035, growing at a CAGR of 14.2% from 2024 to 2035.

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Prime determinants of growth

Proteomics focuses on the comprehensive analysis of proteins within a biological system. Unlike genomics, which examines the entirety of an organism's genetic material, proteomics delves into the intricate world of proteins, the functional workhorses of cells. It involves the large-scale study of the structure, function, and interactions of proteins, aiming to understand their roles in biological processes and disease states. Proteomics employs various techniques, including mass spectrometry, protein microarrays, and bioinformatics tools, to identify, quantify, and characterize proteins present in cells, tissues, or organisms.

Report coverage & details

                 Report Coverage                                       

     Forecast Period                                                  

     Base Year                                                                                                                                                                        2023

      Market Size In 2023                                                                                                                                            
            $32.8 Billion

      Market Size In 2035                                                                                                                                           
            $161.9 Billion

     CAGR                                                                                                                                                                          14.20 %

      No. Of Pages In Report                                                                                                                                                            280

     Segments Covered                                                 
     Component, Application, And Region

     Regional Scope                                                   
     North America, Europe, Asia-Pacific, And LAMEA

     Country Scope                                                      U.S., Canada, Mexico, Germany, France, The UK, Italy, Spain, Rest Of Europe, Japan, China, India, Australia, South
                                                                          Korea, Rest Of Asia-Pacific, Brazil, Saudi Arabia, South Africa, And Rest Of LAMEA.

     High Adoption of Proteomics In Disease Diagnosis

     Rise In the Use of Proteomics for Drug Discovery and Development

     Increase In Research in Life Sciences.

     Technological Advancement in Proteomics.

     High Cost of Proteomics.

2023 Recession Impact Analysis

    --  The global recession had a significant impact on the proteomics market.
    --  The economic uncertainty has negatively impacted the research and
        development activities in the proteomics market.
    --  However, the proteomics market is expected to recover owing to high
        adoption of proteomics for the treatment of chronic diseases and drug
        discovery and development procedures.

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The reagents segment to maintain its leadership status throughout the forecast period

By component, the reagent segment held the highest market share in 2023 and is expected to dominate during the forecast period, accounting for more than three-fourths of the proteomics market revenue, owing to high use of reagents for every laboratory research work of proteomics.

The drug discovery segment to maintain its leadership status throughout the forecast period

By application, the drug discovery segment held the highest market share in 2023, accounting for more than half of the proteomics market revenue. This is attributed to proteomics being widely adopted to evaluate the drug candidate in various parameters such as safety profile, efficacy, and toxicology during the preclinical trials.

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North America to maintain its leadership status throughout the forecast period.

By region, North America held the highest market share in 2023, accounting for more than two-fifths of the proteomics market revenue. This is attributed to well-established healthcare infrastructure and rise in the prevalence of chronic diseases. However, Asia-Pacific is expected to register a noteworthy CAGR during the forecast period, owing to developing pharmaceutical industries in the region.

Leading Market Players: -

    --  Bio-Rad Laboratories Inc
    --  Thermo Fisher Scientific Inc
    --  Danaher Corporation
    --  Bruker Corporation
    --  Waters Corporation
    --  Perkin Elmer Inc
    --  Horiba Ltd.
    --  Merck KGaA
    --  Agilent Technologies Inc
    --  Li-Cor Inc

The report provides a detailed analysis of these key players in the proteomics market. These players have adopted different strategies such as collaboration, and product launches to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.

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SOURCE Allied Market Research