Proteomics Market is expected to reach US$ 75.03 billion by 2030

Clinical Diagnostics Segment to Lead Proteomics Market During 2022–2030

According to our new research study on “Proteomics Market Forecast to 2028 – COVID-19 Impact and Global Analysis – by Product & Service, Application, and End User,” the market size is expected to grow from US$ 27.07 billion in 2022 to US$ 75.03 billion by 2030; it is projected to register a CAGR of 13.6% during 2022–2030. The proteomics market growth is attributed to the proliferating cases of chronic diseases and the growing prominence of nano proteomics. Growing technological advancements and R&D expenditure is likely to offer opportunities for the market growth. However, the high costs of instruments and dearth of skilled personnel hinder the market growth.

Proteomics, the detailed analysis of proteins, has become a significant field to study drug development, therapy, prognosis, and disease characterization. Proteomics technologies help with both infectious and noninfectious disease detection and therapy. The current proteomic methodologies are being made more reliable, biocompatible, specific, and reproducible through the use of nanotechnology as a technological platform. The shortcomings of conventional proteomic techniques are greatly assessed with the use of nanomaterials to enhance the quality of proteomic techniques by protein manipulation. In the pharmaceutical field, proteomics studies drug effects or the mechanism of toxicity. They are also widely used to identify and confirm the effectiveness of biomarkers. The increasing cases of cancer and other diseases are another growth driver of the global proteomics market. Ongoing research in proteomics can help doctors understand how proteins react in highly dynamic environments, such as in cancer patients. The proteomics market report emphasizes the key factors impacting the market and showcases the developments of prominent players.

Proteomics Market, by Region, 2022 (%)

Source: The Insight Partners Analysis

Based on product & service, the market is segmented into instrumentation technologies, reagents & consumables, and software & services. The reagents & consumables segment held the largest proteomics market share in 2022 and is predicted to register the highest CAGR of 14.1% during 2022–2030. Based on end user, the market is segmented into pharmaceutical & biotechnology companies, research & clinical laboratories, hospitals, and others. The pharmaceutical & biotechnology companies segment held the largest proteomics market share in 2022. However, the research & clinical laboratories segment is estimated to register the highest CAGR of 14.5% during 2022–2030. Increasing R&D funding from pharmaceutical and biotechnology companies to develop novel drugs is expected to boost the demand for proteomics services. Additionally, the need for molecular biology, enzymes, and reagents and kits is fueled by increased R&D activities, several ongoing proteomics studies to treat various life-threatening diseases, and increased life science projects in research and academic settings.

Growing Use of Personalized Medicine to Bring New Trends in Market in Coming Years

Personalized medicine is a promising approach for combating diseases for which there are currently no effective treatments or cures. With more diagnostic techniques and analyses being integrated into medical practice, the demand for personalized medicine surges simultaneously. The most important factors accelerating the proteomics industry expansion are the continuous growth of personalized medicine, technical advancements, innovation, and increased funding of proteomics from the public and private sectors. In addition, the high sensitivity and accuracy of mass spectrometric analysis of proteins is suitable for integrating proteomics into personalized medicine.

Furthermore, the pharmaceutical and biopharmaceutical industries are growing rapidly, and the call for proteomics has increased. In addition, the global industry is expected to grow rapidly in the coming years because of the technological advancements, extensive research funding, rising healthcare costs, increasing numbers for personalized medicines, and price inflation in addressing genetic diseases. Thus, the growing demand for personalized medicine is expected to lead to notable proteomics market trends in the coming years.

High Costs of Instruments and Dearth of Skilled Personnel Hinder Market Growth

The need for a longer stay in the laboratory increases the cost of treatment. The instruments and reagents used are expensive, so the use of this technology in developing countries is limited. X-ray crystallography is one of the most commonly used method of proteomics that performs protein expression and gene cloning. It also helps in protein crystallization and purification. As these procedures are time-consuming, the process will be expensive; therefore, adoption of these procedures is less common in developing countries. This poses a major challenge to the market growth and will hinder the proteomics market growth in the long run.

Although proteomics has emerged as an important research area in life sciences, the market growth is expected to be limited by a shortage of skilled workers and expertise in protein analysis techniques. Due to technological and process improvements in biotechnology, it is now critical that qualified professionals perform protein analysis techniques, including high-performance liquid chromatography (HPLC), X-ray crystallography, and protein fractionation systems. Thus, a shortage of skilled professionals to perform protein synthesis procedures is hindering the proteomics market growth.

Key players identified and evaluated while performing proteomics market analysis are Proteome Sciences; Biognosys; Creative Proteomics; Shantani; Olink; SomaLogic Operating Co., Inc.; QUANTUM-SI INCORPORATED; Proteomics International; Promise Proteomics; SCIEX; Illumina, Inc.; and Thermo Fisher Scientific Inc.

The market, by product & service, is divided into instrumentation technologies, reagents & consumables, and software & services. The market, based on application, is segmented into clinical diagnostics, drug discovery & development, and others. In terms of end user, the market is categorized into pharmaceutical & biotechnology companies, research & clinical laboratories, hospitals, and others.

The scope of the proteomics market report encompasses North America (the US, Canada, and Mexico), Europe (France, Germany, the UK, Spain, Italy, and the Rest of Europe), Asia Pacific (China, India, Japan, Australia, South Korea, and the Rest of Asia Pacific), the Middle East & Africa (Saudi Arabia, the UAE, South Africa, and the Rest of Middle East & Africa), and South & Central America (Brazil, Argentina, and the Rest of South & Central America). North America holds the largest share of the market. The proteomics market size in North America is projected to reach US$ 33.56 billion by 2030 from US$ 11.95 billion in 2022; the market is expected to register a CAGR of 13.8% during 2022–2030. However, the market in Asia Pacific is expected to record the highest CAGR during the forecast period. The market growth in this region is attributed to the increasing public and private funding for research and development for proteomics studies, outsourcing of proteomics-based projects, favorable government regulations, and increasing prevalence of target diseases in aging population.

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