Proteomics Market To Show Astonishing CAGR Of 13.5%, Due To Rising Demand For Personalized Medicine

Proteomics Industry Overview

The global proteomics market size was valued at USD 22.30 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 13.5% from 2022 to 2030. Key factors driving the industry growth include growing demand for personalized medicines & advanced diagnostics in targeted disease treatment and the high prevalence of target diseases. Furthermore, increasing focus on product usage in drug designing, biomarker discoveries, and clinical diagnostics for the diagnosis and treatment of diseases will support the industry growth. The market growth is also favored by the protein research being conducted to treat COVID-19 patients.

For instance, in June 2022, A novel class of synthetic peptides or mini-proteins has been developed by scientists at the Indian Institute of Science (IISc) Bangalore, and the researchers claim that it has the potential to neutralize viruses like SARS-CoV-2.Furthermore, a study published in the journal Nature Chemical Biology, claims that the mini-proteins can prevent virus entry into human cells as well as cluster virus particles together to lessen their infectious potential. Therefore, the industry is anticipated to benefit from the rising research on peptide therapies, and is projected to increase due to the COVID-19 pandemic.

Gather more insights about the market drivers, restrains and growth of the Proteomics Market

In addition, the global industry is projected to expand rapidly over the next several years as a result of technical advancements, increased funding for research, rising healthcare costs, growing demand for tailored medication, and rising rates of genetic illnesses. For instance, in August 2020, the NCI’s Small Business Innovation Research (SBIR) Development Center announced funding that was inspired by the Clinical Proteomic Tumor Analysis Consortium (CPTAC). The announcement urges the creation of single-cell, high-throughput proteome discovery tools. This opportunity aims to increase the understanding of how cancer develops and progresses while also enabling robust cancer biomarker discovery and clinical use on a micro-scale.

The rising prevalence of chronic diseases like cancer, Cardiovascular Diseases (CVDs), respiratory diseases, CKD, and others is another factor anticipated to propel the market growth. For instance, according to Globocan, in December 2020, there were 19.3 million new cases of cancer across the world and 10 million cancer-related deaths were reported. Similarly, CVDs are one of the major causes of death worldwide. For instance, as per the WHO (2021), target diseases kill 41 million patients per year. Thus, owing to the increasing prevalence of life-threatening diseases, the demand for personalized therapies is also increasing resulting in a positive impact on the industry.

Increased investments by major players in the production of advanced & effective drugs and diagnostic tools are likely to support market growth throughout the projected timeframe. For instance, in June 2021, Bruker Corp. launched the two new timsTOF instruments. It enables new methods & applications, such as epiproteomics/PTM characterization, and unbiased, and, deep multi-omic biomarker discovery. Also, in cancer liquid biopsy research, they further enhance and facilitate these novel applications and techniques. Such initiatives by companies are likely to supplement the industry growth in the coming years.

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Key Companies profiled:

• Illumina, Inc.

• Agilent Technologies, Inc.

• Bio-Rad Laboratories, Inc.

• GE Healthcare

• Thermo Fisher Scientific, Inc.

• Bruker Corporation

• F. Hoffmann-La Roche Ltd.

• Promega Corp.

• Merck KGaA.

• Danaher