The global proteomics market is rising pervasively mainly due to the proliferating trend of personalized medicines. Proteomics is used in drug discovery and clinical diagnosis for a number of applications such as the investigation of protein expression, metabolic pathways, transcriptional & post-transcriptional studies, protein interaction in diseases, etc. Moreover, the burgeoning sectors such as healthcare and pharmaceutical escalate the market on the global platform.

Analysing the ascending graph of the growth, the market is climbing steadily, Market Research Future (MRFR), in its recently published study report confirms that the global proteomics market size will quadruple by 2023, registering a staggering double-digit CAGR over 14.1 % throughout the forecast period (2018 to 2023). In 2017, the market had accounted for a valuation of USD 23.2 BN.

Additional factors that are boosting the growth of the market include the increasing research & development activities predominantly led by the government support, rising demand for personalized medicines, and the rising number of approvals of personalized medicines. Furthermore, increasing activities of drug discovery in the rapidly proliferating pharmaceutical industry foster the growth of the market to an extent.

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Conversely, factors such as the huge capital investment with low-profit margins, strict FDA regulations are impeding the growth of the market growth. However, factors such as the increasing government assistance, rising funding & reimbursement and improving regulatory framework would support the growth of the market during the assessment period. Also, the growing geriatric population and technological advancements in the medicinal field are contributing to the growth of the market.

Major Players:

Key players leading the global Proteomics market include Bio-Rad Laboratories, Inc., General Electric Company, Danaher, Siemens Ltd., Agilent Technologies, Inc., Thermo Fisher Scientific Inc. Inc., Genzyme Corporation, Bruker, Biognosys AG, Luminex Corporation, PerkinElmer Inc., Merck KGaA, WATERS, and Caprion Biosciences Inc. among others.

Segmentation:

The global proteomics market, as per the discussion of MRFR analysts, has been studied on the basis of equipment, service, and application. This study holds details regarding factors and revenues that will facilitate strategy-devising procedures.

By Equipment, the global market for proteomics has been segmented into mass spectroscopy, protein microarray, chromatography, protein fractionation, x-ray crystallography, and others. The protein fractionation is getting traction for its rising demand in the research process encompassing COVID-19.
By Services, the global market report will cover segments like laboratory services and data analysis & services. The largest market share is getting enjoyed by the laboratory services segment as it has a significant contribution to finding effective diagnosis and research for drug discovery. The data analysis and services segment will register the fastest CAGR during the forecast period for its rising demand in the data analytics sector.
By Application, the global report on the proteomics market has been segmented into clinical diagnosis, drug discovery, and others. The drug discovery segment is witnessing demand as several pharmaceutical companies have started procedures to find a proper drug and vaccine for COVID-19.
Regional Analysis

The North American region, heading with the rising funding from government dominates the global Proteomics market. Moreover, factor such as the spreading awareness towards cost-effective applications of proteomics and increasing demand for personalized medicines drive the growth of the regional market. The increasing consumption of medicines led by the prevalence of chronic diseases, well-established healthcare sector, and the growing trend of personalized medicines are some of the other key driving forces behind the market growth in the region.

Also, factors such as the high healthcare expenditures, and augmenting demand for the novel drug discoveries substantiate the growth of the Proteomics market in the North American region. The North America Proteomics market is projected to grow at a substantial CAGR, creating a larger revenue pocket by 2023.

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The Proteomics market in the European region accounts for the second-largest market, globally. Factors such as financial support by the government for cancer research activities and the patent expiration of numerous blockbuster drugs are estimated to drive the regional Proteomics market. Furthermore, the burgeoning pharmaceutical industry is a key driving force fostering the growth of the regional market and allowing it to grow at a considerable CAGR.

The Asia Pacific Proteomics market is rapidly emerging as a promising market, globally. The availability of cost-competitive skilled labor force and raw materials are the key driving forces behind the growth of the regional market, encouraging foreign investors to shift their production bases in this rapidly growing market.