Proteomics Market Business Overview, Challenges, Opportunities, Trends and Market Analysis by 2023
Proteomes are an entire set of proteins which is expressed in genomes, and proteomics refers to the large-scale study of these proteomes, that include study of the functions and structure of proteins that can be used in diagnosis and treatment of various diseases, and in the process of drug discovery. Proteomics is used to analyze the interaction of proteins with each other, action of proteins in metabolic pathways, rate of the production of proteins, and the modification process of the proteins.
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Based on software and services, analytical laboratory services held largest share of the global proteomics market in 2016, mainly due to increasing research and development investments by the key players in the market and government. The global proteomics market finds application in drug discovery, clinical diagnosis, and other applications. Based on application, clinical diagnostics held the largest share of the global proteomics market in 2016, driven by increasing understanding of proteins and its application in the drug discovery.
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Geographically, North America was the largest market for Proteomics in 2016, followed by Europe. The North American proteomics market is primarily driven by easily available funds from various institutions for proteomic research using innovative technologies.
Due to the increased spending on healthcare in the developed market, various government and private institutions are funding on different projects which will drive the growth of the global proteomics market, Asia-Pacific is expected to witness the fastest in the period, 2017-2023, the improving infrastructure for research, and emerging markets is driving the growth of the region’s proteomics market. Government and private players are increasingly investing in the Asia-Pacific, since the region constitutes many untapped countries having potential customers.
Some of the key players in the global proteomics market are Agilent Technologies Inc., Bruker Corporation, GE Healthcare, Merck KGaA, Thermo Fisher Scientific, Inc., Bio-Rad Laboratories, Inc., Waters Corporation, Danaher Corporation, Luminex Corporation, and PerkinElmer Inc.