According to FutureWise analysis the market for Proteomics in 2023 is US$ 36.8 billion, and is expected to reach US$ 111.17 billion by 2031 at a CAGR of 14.80%.
The study of the functions and structure of proteins used in drug diagnosis, treatment and discovery of diseases. A proteome is unstable as it is different from cell to cell It is used for the evaluation of the protein production rate, protein interaction, proteins involvement in pathways of the metabolic system, and protein modification. The usage of structural proteomics in identifying the complex protein structure, whereas the functional proteomics is utilized for protein??rotein characteristic interactions in order to demonstrate the functions of the protein.
Proteomics finds in-deep applications in identifying markers for disease diagnosis and drug development and discovery of personalized medicines, which have accelerated the global market in recent years. With growing awareness pertaining to the advantages of personalized medicines, government organizations and companies have increased their expenditure of research and development on developing proteomics.
The global market is predicted to proliferate at a substantial rate over the forecast period, due to personalized medicines getting increasingly popular, soaring expenditure on the research and development and advancements in technology related to proteomics. Moreover, a rise in the availability and awareness of proteomics instruments in developing as well as developed market escalates the market augmentation. Nonetheless, high proteomics component costs and a lack of skilled healthcare professionals in the global proteomics industry hamper the overall market growth. Conversely, profitable opportunities pertaining to the identification of biomarkers and developing mass proteomics based on spectrometry are predicted to offer numerous opportunities for growth to the key players.
The analysis of the global proteomics market size is performed using the component vertical in the report. The component segment accounted for the largest global proteomics market share in 2018, and it is projected to maintain its dominance over the forecast period due to reagents being an integral part of the components of proteomics. The reagents are utilized as a binding material and precursor of chemical reactions during protein structure characterization and analysis. Furthermore, fundamental protocols of proteomics need reagents, which is why this segment is anticipated to occupy the largest market share in the component segment throughout the forecast period.