Proteomics Market - Revenue Growth Predictions by 2024 | Exclusive Report by MarketsandMarkets


Posted July 8, 2019 by mmvaidya

The proteomics market is projected to reach USD 38.7 billion by 2024 from USD 19.5 billion in 2019, at a CAGR of 14.7%.
 
Growth in this market is driven by an increase in research activity (especially in the areas of personalized medicine and drug discovery). Other market drivers include increasing pharmaceutical and biotechnology R&D expenditure, government funding for proteomics, and technological advancements.

This study involved the extensive use of both primary and secondary sources. The research process involved the study of various factors affecting the industry to identify the segmentation types, industry trends, key players, competitive landscape, key market dynamics, and key player strategies.

Secondary Research:

The secondary research process involves the widespread use of secondary sources, directories, databases (such as Bloomberg Businessweek, Factiva, and D&B Hoovers), white papers, annual reports, companies house documents, investor presentations, and SEC filings of companies. Secondary research was used to identify and collect information useful for the extensive, technical, market-oriented, and commercial study of the proteomics market.

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The proteomics market, by instrumentation technology, is segmented into spectroscopy, chromatography, electrophoresis, protein microarrays, X-ray crystallography, surface plasmon resonance, and protein fractionation. The spectroscopy segment accounted for the largest market share in 2018. The ability of spectroscopy to quantify the complex structure of proteins on a large scale and its capability to integrate with other technologies for protein quantification make spectroscopy an indispensable tool in proteomics. This contributes to the large share of the segment.

Primary Research:

In the primary research process, various sources from both the supply and demand sides were interviewed to obtain qualitative and quantitative information for this report. The primary sources from the supply side include industry experts such as CEOs, vice presidents, marketing and sales directors, technology & innovation directors, and related key executives from various key companies and organizations operating in the proteomics market.

Based on reagent, the proteomics market is segmented into protein microarray reagents, spectroscopy reagents, X-ray crystallography reagents, chromatography reagents, electrophoresis reagents, immunoassay reagents, and protein fractionation reagents. The immunoassay reagents segment is estimated to account for the largest market share in 2018, mainly due to the ability to quickly and easily provide precise and accurate results for protein identification and separation, which form the initial steps for proteome analysis.

North America to dominate the proteomics market during the forecast period

In 2018, North America dominated the global proteomics market, followed by Europe. Increasing investments in the development of structure-based drug designs, growing academic and government investments in genomics and proteomics research, rising demand for high-quality research tools for data reproducibility, and rising focus of stakeholders on research projects involving proteins, associated biomolecules, and genes are the factors propelling the growth of the market in the region.

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Key Market Players:

Prominent players in global the proteomics industry are Thermo Fisher Scientific, Inc. (US), Agilent Technologies, Inc. (US), GE Healthcare (US), Bio-Rad Laboratories, Inc. (US), Danaher Corporation (US), Luminex Corporation (US), Bruker Corporation (US), Merck KGaA (Germany), Waters Corporation (US), PerkinElmer, Inc. (US), Creative Proteomics (US), and Promega Corporation (US).

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Issued By Makarand Vaidya
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Categories Biotech , Medical , News
Tags proteomics market
Last Updated July 8, 2019