Proteomics Market worth 21.87 Billion USD by 2021
The report "Proteomics Market - Instrument, Reagent & Service (Spectroscopy, Chromatography, Electrophoresis, Immunoassay, HPLC, X-Ray Crystallography, Mass Spectrometry and Surface Plasmon Resonance) Application (Diagnostics, Drug Discovery) - Forecast to 2021", is projected to reach USD 21.87 Billion by 2021, at a CAGR of 11.7% from 2016 to 2021.
This report studies the global proteomics market over the forecast period of 2016 to 2021.
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The global proteomics market is projected to reach USD 21.87 Billion by 2021, at a CAGR of 11.7% from 2016 to 2021. The global proteomics market exhibits potential for significant growth and is propelled by the increasing need for personalized medicine, R&D expenditure, technological advancements, and increased funding for proteomics projects. However, a few pivotal factors hampering the growth of this market include the reduced funds in key markets, sequestration cuts in the U.S. and reduced funds for proteomics research, high cost of tools and equipment, and dearth of skilled researchers.
In this report, the global proteomics market is majorly segmented on the basis of instrumentation technology, application, reagent, services & software, and region. On the basis of regent, the protein fractionation reagents segment is projected to register the highest CAGR during the forecast period. On the basis of services and software, the analytical laboratory services segment commanded for the largest share of the market as these services help in effective diagnosis and research for drug discovery.
On the basis of application, the market is segmented into drug discovery, clinical diagnostics, and others applications. The clinical diagnostics segment accounted for the largest share of the global proteomics market in 2015. This is attributed to the increased understanding of the relevance of investigating and understanding patterns of protein expression for diseases and drug development. Whereas, the drug discovery segment is expected to register the highest CAGR during the forecast period due to the continuous search for alternative and efficient methods to deliver enhanced drugs and the increasing R&D investments from pharmaceutical and biotechnology companies.
In 2015, North America accounted for the largest share of the proteomics market, followed by Europe. The large share of this regional segment can be attributed to factors such as easy availability of funds from various organizations for carrying out proteomic research using innovative technologies and stringent regulatory requirements regarding pharmaceutical manufacturing. The Asia-Pacific region is expected to witness the highest growth in this market majorly due to improving biopharmaceutical research infrastructure and growing economies in Japan and India. In addition, manufacturers are increasingly focusing on strengthening their presence in emerging markets of APAC countries.
The global proteomics market is fragmented in nature. Some key players in this market are Agilent Technologies Inc. (U.S.), Bio-Rad Laboratories, Inc. (U.S.), Bruker Corporation (U.S.), Danaher Corporation (U.S.), GE Healthcare (U.S.), Luminex Corporation (U.S.), Merck KGaA (Germany), PerkinElmer Inc. (U.S.), Thermo Fisher Scientific, Inc. (U.S.), and Waters Corporation (U.S.). These leading players have primarily focused on new product launches, acquisitions, agreements, collaboration, partnerships, and expansions for growth in the market.
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