Global Proteomics Market Size
Healthcare Services

Proteomics Market Report 2024: Market Size, Drivers, And Trends

The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2024 and forecasted to 2033

The proteomics market has seen significant growth in recent years, driven by advancements in technology, increased funding, and rising healthcare demands. Here’s an overview of the current market trends and future projections.

Market Size and Growth

  • 2023 to 2024 Growth: The market grew from $30.84 billion in 2023 to $35.21 billion in 2024, reflecting a robust compound annual growth rate (CAGR) of 14.2%.
  • Future Projections: By 2028, the market is expected to reach $58.61 billion, growing at a CAGR of 13.6%.

Drivers of Historic Growth

  • Government Funding: Increased government funding for proteomics research has been a major catalyst.
  • Technological Advancements: Innovations in proteomics technology have facilitated better research and development.
  • Healthcare Expenditure: Rising healthcare spending has boosted the demand for proteomics.
  • Healthcare Facilities Expansion: The growth of healthcare infrastructure in emerging markets has supported market expansion.

Future Growth Factors

  • Financing for Ventures: Increasing investment in proteomics ventures is expected to continue driving growth.
  • Personalized Medicine: The rising need for customized medical treatments is pushing forward research in proteomics.
  • R&D Activities: Expanding research and development efforts are crucial for market growth.
  • Biotech Investments: The COVID-19 pandemic has spurred increased investments in biotech companies.

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Major Trends in Proteomics
Focus Areas

  • Nanotechnology: Emphasis on nanotechnology to identify low-abundant samples.
  • Technological Advancements: Ongoing development of new and advanced technologies.
  • Product Launches: Companies are continuously launching new products to maintain a competitive edge.
  • Artificial Intelligence: Integration of AI for real-time improved imaging.

Impact of Government Funding
Government funding plays a pivotal role in the proteomics market, aiding in drug discovery, disease diagnosis, and treatment advancements.

  • Case Study: In May 2022, Proteomics International Laboratories Limited received $400,000 to enhance its PromarkerD test production, demonstrating the positive impact of such funding.

Key Companies in the Market

  • Major Players: Companies like Danaher Corporation, Thermo Fisher Scientific Inc., and Merck KGaA dominate the market.
  • Product Launch Example: In June 2021, Bruker Corporation launched new ion mobility spectrometry time-of-flight (timsTOF) instruments, enhancing proteomics capabilities.

Significant Acquisitions
Acquisitions are a common strategy for expanding market presence and capabilities.

  • Danaher Corporation and Aldevron LLC: In August 2021, Danaher Corporation acquired Aldevron LLC, strengthening its position in genomic medicine and supporting the development of therapies and vaccines.

Market Segmentation
The proteomics market is segmented based on various components, instruments, and types of services.

  • By Component: Reagents, Instruments, Software.
  • By Instrument: Protein Microarrays, Spectroscopy, X-ray Crystallography, Chromatography, Electrophoresis, Surface Plasmon Resonance, Protein Fractionation.
  • By Type: Core Instrument Services, Proteomic Analytical Services.

Regional Insights
North America was the largest region in the proteomics market in 2023, highlighting the region’s advanced research infrastructure and significant investment in biotech and healthcare sectors.

The proteomics market is on a dynamic growth trajectory, driven by technological advancements, increased funding, and rising healthcare needs. With ongoing innovations and strategic investments, the future of proteomics looks promising, paving the way for significant breakthroughs in personalized medicine and biotechnology.

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