(PharmaNewsWire.Com, November 23, 2021 ) According to the new market research report " Proteomics Market by Product (Spectroscopy, Chromatography, Electrophoresis, X-ray Crystallography), Reagent, Service (Core Proteomics, Bioinformatics), Application (Diagnostic, Drug Discovery), End User (Hospital, Labs, Biopharma) - Global Forecast to 2026", published by MarketsandMarkets™, the Proteomics Market is valued at an estimated USD 25.9 billion in 2021 and is projected to reach USD 55.9 billion by 2026, at a CAGR of 16.6%.
Factors Driving the Market:
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 market growth.
Immunoassay reagents segment accounted for the largest share of the proteomics market, by reagents, in 2020
The proteomics market, by reagent, is segmented into protein microarray reagents, spectroscopy reagents, X-ray crystallography reagents, chromatography reagents, electrophoresis reagents, immunoassay reagents, and protein fractionation reagents. In 2020, the immunoassay reagents segment accounted for the largest share of the proteomics market. The large share of this segment can be attributed to the availability of a wide range of reagents and the need for reliable, specific, and fast detection of diseases at the early stages.
Pharmaceutical companies segment accounted for the largest share in the market, by end user, in 2020
Based on end users, the proteomics market is segmented into hospitals, clinical laboratories, pharmaceutical companies, academic research laboratories, and other end users. In 2020, the pharmaceutical companies segment accounted for the largest market share of the proteomics market. The large share of this segment can be attributed to the increasing research funding for genomics and proteomics research and the increasing outsourcing of research activities to various pharmaceutical companies with in-house CRO services.
North America is the largest regional market for proteomics market
The global proteomics market is segmented into North America, Europe, the Asia Pacific, Latin America and Middle East & Africa. In 2020, North America accounted for the largest market share in the proteomics market. This can be attributed to the increasing investments in the development of structure-based drug design, growing research in the field of omics, rising demand for high-quality research tools for data reproducibility, and increasing focus on developing personalized therapeutics. The presence of a large number of global players in this region is also supporting the growth of this market.
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