Proteomics Market was valued at $17,988 million in 2015, and is expected to reach $44,452 million by 2022, supported by a CAGR of 13.7%.
Portland, OR -- (SBWIRE) -- 06/23/2017 -- Proteomics Market Report, published by Allied Market Research, forecasts that the global market is expected to garner $44,452 million by 2022, registering a CAGR of 13.7% during the period 2014 - 2022.Instruments segment is expected to dominate the global market throughout the forecast period. North America held the leading position in the global market in 2015, and is expected to maintain this trend.
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The key drivers of the market include increased R&D funding by leading players and government agencies, such as National Institutes of Health (NIH) and National Science Foundation (NSF), and technological advancements, such as development of dual mass analyzers (for instance LC/MS, GC/MS, FT-MS, and MALDI-TOF/TOF) and improvements in the liquid chromatography & gel electrophoresis procedures. Also, the increase in popularity of personalized medicines is set to propel the market. However, high cost of the instruments and dearth of skilled researchers hamper the market growth.
Proteomics has the capacity to explain questions that were unsolved by genomics, as proteins are the functional unit of cells. Advancements in the technology of mass spectrometry, chromatography, and development of computer algorithms for database searching facilitates the proteomics research.? She further adds that ?the analysis of target proteins for disease diagnosis is the largest application of proteomics
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Protein microarray generated the highest revenue in 2015, owing to the high usage rates of this technology as it tracks protein interactions in lesser time as compared to other technologies. In the reagents segment, immunoassays generated the highest revenue in 2015 as these are extensively utilized in primary screening in drug discovery and microarray technologies. On the basis of applications, drug discovery accounted for the major share of the overall market in 2015.
Key Findings Of Proteomics Market:
- The instrument segment generated the highest revenue in 2015, and is projected to grow at a CAGR of 14.6% during the forecast period.
- Protein microarrays segment occupied about half of the total proteomics instrument market share in 2015, while the spectrometry segment was the second leading segment.
- Drug discovery dominated the global proteomics applications market in 2015 accounting for about two-third of the market in 2015.
- In the year 2015, the U.S. was the leading country in the global proteomics market, accounting for about one-third share of the overall market.
- Germany held about one-fourth share of the European proteomics market in 2015.
- Indian proteomics market is expected to grow at a CAGR of 20.3%.
North America held the largest share of about two-fifth of the market in 2015. The increase in popularity and adoption of personalized medicines and favorable government funding and initiatives are the key factors that drive the market growth in this region. However, Asia-Pacific is expected to grow at a CAGR of 17.0% from 2016 to 2022. The rise in prevalence of chronic diseases and increase in interest of researchers to utilize proteomics in the disease diagnosis and treatment are expected to fuel the market growth.
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Key players profiled in this report include Thermo Fisher Scientific Corporation, Agilent Technologies, Luminex Corporation, Danaher Corporation, Inc., Bio-Rad Laboratories, Inc., GE Healthcare, Waters Corporation, Caprion Proteomics, Inc., PerkinElmer, Inc., and Bruker Corporation.