Proteomics is a rapidly evolving field within the realm of life sciences that focuses on the study of proteins, their structures, functions, and interactions within biological systems. As the demand for advanced technologies in the field of proteomics continues to grow, numerous companies have emerged as key players in developing innovative solutions for protein analysis.
Latest Proteomics Companies Updates:
Waters Corporation and Wyatt Technology Join Forces: In February 2023, Waters Corporation acquired Wyatt Technology, expanding its portfolio in separation and detection. This strategic move aims to offer customers a wider range of analytical solutions, propelling growth in the proteomics market.
Thermo Fisher Scientific Teams Up with Evosep: This January, Thermo Fisher Scientific partnered with Evosep to revolutionize clinical proteomics. Their collaboration focuses on developing faster and more robust workflows, paving the way for wider adoption of the technology in clinical settings.
Agilent Technologies and CMP Scientific Corp. Collaborate: Back in October 2022, Agilent Technologies and CMP Scientific Corp. entered into a co-marketing agreement. This partnership provides an integrated capillary electrophoresis-mass spectrometry (CE-MS) solution, catering to the needs of both life science and pharmaceutical research.
List of Proteomics Key companies in the market:
The Proteomics Market Size was valued at USD 32 billion in 2023 and is projected to grow from USD 35.96 Billion in 2024 to USD 65.2 billion by 2032, exhibiting a compound annual growth rate (CAGR) of 7.72% during the forecast period (2024 - 2032). The rise in cancer patients, the aging population's demand for personalized medicines, the increase in the use of advanced diagnostics for the treatment of targeted diseases, and growing activities of drug discovery are the key market drivers boosting proteomics industry share.
Source: Primary Research, Secondary Research, MRFR Database, and Analyst Review
Numerous proteomics applications, such as phosphoproteomics/metal oxide nanoparticles, nanostructured surfaces for protein separation, and array techniques for analytical detection of biomarker proteins, have been linked to nanotechnology. Applying proteomics techniques with nanotechnology has resulted in development of nano proteomics as a science. This method is used as a supplementary component to revolutionize proteomics through various nanotechnology applications, such as nanoporous structures, functionalized nanoparticles, quantum dots, and polymeric nanostructures.
Another factor expected to drive market growth is the increasing prevalence of chronic illnesses such as cancer, respiratory diseases, CKD, and cardiovascular diseases (CVDs). According to Globocan, 19.3 new cancer cases were reported worldwide in December 2020, with 10 million cancer-related deaths reported. Similarly, CVDs are a significant cause of death worldwide. For instance, the WHO (2021) states that 41 million patients die yearly from target diseases. Thus, as life-threatening diseases become more common, the need for personalized therapies also grows, positively affecting the industry.
Increased investments by major players in developing advanced and effective drugs and diagnostic tools will likely support global market CAGR growth over the forecast timeframe. For instance, Bruker Corp. introduced two new timsTOF instruments in June 2021. It enables novel methods and applications such as epi proteomics/PTM characterization and unbiased, comprehensive multi-omic biomarker discovery. They also improve and facilitate these novel applications and techniques in cancer liquid biopsy research. Such corporate initiatives will supplement proteomics market revenue growth in the upcoming years.
Based on equipment, the market segmentation of proteomics includes chromatography, mass spectroscopy, and protein microarray. The mass spectroscopy segment held the majority share in 2022, contributing to around ~45-47% of the market revenue. One of the primary factors promoting segment growth is the extensive use of spectroscopy-based techniques in various analytical applications, including drug discovery processes, proteomics, metabolic engineering, forensic analysis, and pharmaceutical analysis. Additionally, the largest segmental market share can be attributed to the accessibility of a wide range of reagents that accurately make it easier to identify diseases in their earliest stages. One of the most popular approaches, it has seen significant growth in recent years since it assists drug formation through several processes. Using this mass spectroscopy analysis in antibiotic treatment is booming and will play an essential role in the market's growth. Most of the time, DNA-based microarrays are preferred for identifying gene expression. It contributes to cost savings while also reducing complexity. This is the most common and widely available technology.
Services have bifurcated the global proteomics market data into laboratory services, data analysis & services, and others. The laboratory services segment led the global market in 2022 and is expected to be the fastest-growing segment in the forecasted period 2023-2032, owing to its benefits in effective diagnosis and drug discovery research. The significant market share of this segment can be credited to increasing research funding for genome sequencing and proteomics studies as well as to a rising trend of research activities being outsourced to different pharmaceutical firms with in-house laboratory facilities. Additionally, developing high-tech tools and lab services, like 2-D electrophoresis protein analyzers, that increase the productivity and throughput of biological research would support the proteomics market growth.
The global proteomics industry has been segmented based on application into drug discovery and clinical diagnosis. Clinical diagnosis held the most prominent segment share in 2022. This is due to clinical researchers' widespread use of protein analysis to identify disease biomarkers for early detection and identification of individual risk factors. This is expected to open new disease prevention and early intervention avenues. Proteomics-based diagnosis enables the identification of potential biomarkers and protein expression patterns for tumor classification, prediction, and prognosis, which drives the segment's expansion.
Figure 1: Proteomics Market, by Application, 2023 & 2032 (USD Billion)
Source: Primary Research, Secondary Research, MRFR Database, and Analyst Review
On the other hand, the drug discovery segment is likely to grow at the fastest rate in the proteomics industry over the forecast period. The development of structure-based drug design, a focus on developing personalized drugs, and increased investment in these fields can all be attributed to segment growth. Early diagnosis of various diseases reduces the need for pharmaceuticals. Besides, proteomics technologies provide a way to demonstrate early in a drug discovery program, saving pharmaceutical corporations significant capital and benefiting patients and healthcare systems, contributing to segment growth.
By Region, the study provides market insights into North America, Europe, Asia-Pacific, and the Rest of the World. The North American Proteomics market accounted for USD 13.05 billion in 2022 and is likely to exhibit a significant CAGR growth over the study period. This is attributed to increased spending on structure-based drug design, the expansion of omics research, the need for high-quality research tools to ensure reproducible data, and the focus on creating individualized therapies. Partnerships and collaborations between significant businesses in this region are also assisting the growth of this market. For example, Thermo Fisher Scientific Inc and Symphogen teamed up to develop validated platform processes for the standardized characterization and quality monitoring of complex therapeutic proteins.
Further, the major countries studied in the global market report are the U.S., Germany, Canada, France, the UK, Spain, Italy, Japan, India, Australia, China, South Korea, and Brazil.
Figure 2: PROTEOMICS MARKET SHARE BY REGION 2023 (%)
Source: Primary Research, Secondary Research, MRFR Database, and Analyst Review
The European proteomics market accounts for the second-largest market share. Rising cancer research activities, as well as government assistance, are propelling market growth in this region. Additionally, the industry is observing an increase in partnerships between businesses and academic institutions, as well as between smaller suppliers and larger ones. The demand for personalized medicine, technological advancements, and bioinformatics in proteomics all help expand Europe's proteomics market. Proteomics-specific laboratories and government subsidies are also helping to propel the European market forward. Further, the German market of proteomics held the largest market share, and the UK market of proteomics was the fastest-growing market in the European region.
The Asia-Pacific Proteomics Market is expected to grow at the fastest CAGR between 2024 - 2032, owing to an increase in proteomics-based project outsourcing, public & private funding for proteomics R&D, rising prevalence of target diseases with an aging population, favorable government regulations, and growing proteomics adoption. For example, in November 2021, the Department of Biotechnology of the Indian government provided 60 million dollars to the University of Hyderabad to study the tomato proteome. Such government initiatives to support proteomics research are driving the market in the Asia Pacific. Moreover, China’s market of proteomics held the largest market share, and the Indian market of proteomics was the fastest-growing market in the Asia-Pacific region.
Proteomics Key Market Players & Competitive Insights
Increased investments by major market players in developing advanced and effective drugs and diagnostic tools will likely support the growth of the proteomics industry over the forecasted timeframe. Key players actively implement market development strategies to increase their industry share, including partnerships through mergers & acquisitions, the introduction of new services, contractual commitments, geographic reach, and strategic alliances.
Competitors in the global proteomics industry must provide cost-effective and refined proteomics techniques to broaden and endure in a highly competitive and growing market environment. The proteomics market’s major players, such as Bio-Rad Laboratories Inc, Siemens Ltd, Genzyme Corporation, Thermo Fisher Scientific Inc., and others, are working to increase market demand by actively funding R&D initiatives. The proteomics industry has recently provided new biomarkers for drug discovery, with some of the most significant advantages.
Poochon Scientific LLC provides a comprehensive range of proteomics services, such as sample preparation, laboratory analysis, data reporting, and interpretation, based on a profound understanding of protein analysis, various protein profiling, and biomedical pathway analysis. The company's modern facilities enable microbial identification, antibody sequencing, and DNA sequencing. Poochon Scientific LLC acquired a new Thermo Orbitrap Exploris 240 Mass Spectroscopy with BioPharma functionality and a FAIMS Pro interface in February 2021. It is a multifunctional, next-generation high-resolution mass spectrometer with exceptional proteomics, metabolic engineering, and biopharmaceutical characterization capability.
Also, SCIEX is a biotechnology firm that helps researchers and laboratory analysts with complex analytical problems. The company assists the industries of liquid chromatography-mass spectrometry and electrophoresis. SCIEX purchased Intabio Inc in January 2021. With this acquisition, SCIEX intends to quickly launch life-saving medications on the market by combining Intabio's technology with its biopharma sector, column chromatography, and mass spectrometry expertise.
Key Companies in the market of proteomics include
Proteomics Industry Developments
June 2022: SomaLogic and Illumina Inc announced a co-development contract in which the former will use Illumina's future and current maximum throughput next-generation sequencing (NGS) frameworks to run the former's SomaScan Proteomics Assay. With ultra-high throughput and plexity workflow, the collaboration will propel next-generation genetic analysis into the fastest-growing area of the market for proteomics.
May 2022: Proteomics International Labs Ltd received USD 13,516 in funding to facilitate the production of its PromarkerD clinical diagnosis, the world's first predictive model diagnostic test for diabetes-related kidney disease, in Australia. The program's objectives are to promote new developments in the health field, advance discoveries towards proof-of-concept and commercialization that address critical health issues and maximize the potential of new business ventures.
December 2020:Thermo Fisher Scientific purchased Phitonex Inc. The addition of Phitonex's products will allow Thermo Fisher to provide expanded flow cytometry and imaging multiplexing features to meet evolving customer requirements in protein and cell analysis research.
Proteomics Regional Outlook
Proteomics Market Highlights:
© 2024 Market Research Future ® (Part of WantStats Reasearch And Media Pvt. Ltd.)