(PharmaNewsWire.Com, October 21, 2020 ) MarketsandMarkets forecasts the proteins study market to grow from USD 19.49 billion in 2019 to USD 38.74 billion by 2024, at a Compound Annual Growth Rate (CAGR) of 14.7% during the forecast period. An increase in the research activity, especially in the area of personalized medicine and drug discovery is the primary growth driver for this market.
In addition, the increasing R&D expenditure by pharmaceutical and biotechnology companies, increasing government funding, and technological advancements are also propelling the growth of the proteomics market. The objective of the report is to define, describe, and forecast the proteomics market size based on instrumentation technology, reagent, service & software, application, and region.
This study involved the extensive use of both primary and secondary sources. The research process involved the study of various factors affecting the industry to identify the segmentation types, industry trends, key players, competitive landscape, key market dynamics, and key player strategies.
# To define, describe, segment, and forecast the global proteomics market by instrumentation technology, reagent, services and software, application, end user, and region.
# To provide detailed information about the factors influencing proteins study market growth (such as drivers, restraints, opportunities, and industry-specific challenges).
# To analyze micromarkets with respect to individual growth trends, prospects, and contributions to the overall market.
# To analyze market opportunities for stakeholders and provide details of the competitive landscape for key players.
# To forecast the size of the proteomics market in five main regions along with their respective key countries (North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa).
# To profile key players in the global proteomics market and comprehensively analyze their core competencies and market shares.
# To track and analyze competitive developments such as acquisitions; product launches; expansions; collaborations, partnerships, & agreements; and R&D activities of the leading players in the proteomics market.
North America to dominate the proteomics market during the forecast period
In 2018, North America dominated the global proteins study market, followed by Europe. Increasing investments in the development of structure-based drug designs, growing academic and government investments in genomics and proteomics research, rising demand for high-quality research tools for data reproducibility, and rising focus of stakeholders on research projects involving proteins, associated biomolecules, and genes are the factors propelling the growth of the market in the region.
Prominent players in the proteomics market are Thermo Fisher Scientific, Inc. (US), Agilent Technologies, Inc.(US), GE Healthcare (US), Bio-Rad Laboratories, Inc. (US), Danaher Corporation (US), Luminex Corporation (US), Bruker Corporation (US), Merck KGaA,(Germany), Waters Corporation (US), PerkinElmer, Inc. (US), Creative Proteomics (US), and Promega Corporation (US).
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