Proteomics is the large-scale study of proteins, their structures, and functions. It involves the use of spectroscopic techniques and mass spectrometry to identify and quantify the proteins present in a biological sample. Proteomics tools help in the characterization of the proteome which refers to the entire set of proteins produced or modified by an organism, system, or biological context. The pharmaceutical industry makes use of proteomic techniques at various stages of drug discovery and development including target identification, validation and clinical trials of drug candidates. With the increasing focus on precision medicine and development of targeted therapies, demand for proteomic services and solutions is rising significantly from pharmaceutical and biotechnology companies.
The global Proteomics Market is estimated to be valued at US$ 36.8 Bn in 2023 and is expected to exhibit a CAGR of 19% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key Trends:
The rising significance of personalized medicine has emerged as a key trend in the proteomics market. Technologies such as mass spectrometry-based proteomics allow comprehensive profiling of individual patient’s proteome which can help delivery of personalized therapies. This information could be used to develop targeted drugs for subgroups of patients based on their unique protein expression signatures. Biomarker discovery using proteomics also aids development of companion diagnostics which help identify patients likely to respond to a specific treatment. Furthermore, integration of multi-omics approaches combining proteomics with genomics, transcriptomics and metabolomics data is gaining traction. Such integrated analyses provide deeper biological insights compared to individual omics analysis. This trend is expected to drive widespread adoption of proteomics techniques in precision medicine R&D.
Threat of new entrants: The proteomics market requires significant investments in R&D to develop new technologies and solutions, acting as a deterrent for new entrants.
Bargaining power of buyers: The bargaining power of buyers is moderate as there are many established players providing proteomics solutions and services. However, large pharmaceutical companies have some negotiating power.
Bargaining power of suppliers: The bargaining power of suppliers is low as there are many component suppliers for proteomics technologies and solutions.
Threat of new substitutes: There are no close substitutes for proteomics technologies currently.
Competitive rivalry: The proteomics market is growing rapidly leading to intense competition among existing players to gain market share.
The global Proteomics Market Share is expected to witness high growth over the forecast period of 2023 to 2030.
North America dominated the proteomics market in 2020 and is expected to maintain its leading position during the forecast period. Increased adoption of proteomics in drug discovery and precision medicine is driving the market in the region. Asia Pacific is projected to be the fastest growing market, supported by rising R&D investment in proteomics by pharmaceutical companies and research institutes in China and India.
Key players operating in the Proteomics Market are Super Vac, Ziamatic Corp., Akron Brass Company, Fire Hooks Unlimited, Inc., Tempest Technology Corporation, CMC Rescue, Inc., SavaTech Corp., Water Rescue Innovations, RUTH LEE Ltd., Mustang Survival, DURATEK Inc., Safety & Rescue Australia, WernerCo, Sterling Rope Company, Inc., PETZL Distribution. Thermo Fisher Scientific is currently the market leader with wide range of proteomics products and services.
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it