Proteomics Market - By Component (Instrument, Services), By Technique (Mass Spectrometry, Microarrays, Chromatography), By Application (Research, Diagnostics), By End use (Pharmaceutical companies, Laboratories), By Region - Global Forecast to 2032

Proteomics Market Size

Proteomics Market size was valued at USD 46.68 billion in 2022 and is expected to register around 10% CAGR between 2023 and 2032. The increasing research activity being conducted in the field of personalized medicine and in the pharmaceutical industry for drug discovery and development form the primary growth factors of the market expansion. Additionally, the increasing R&D expenditure by pharmaceutical and biotechnology companies, increasing government funding, and the technological advancement among analytical tools is propelling the market growth.
 

On the other hand, the high cost of the instruments may hinder the growth of the market to a certain extent. Proteomics involves the use of equipment such as X-ray crystallography, mass spectrometers, and high-throughput fields to conduct protein structure, expression, and crystallization studies. These processes lead to increase in the cost per sample testing. The rising cost of instruments may also impede the adoption in developing countries, thus limiting the growth of the market. Also, the drawbacks of data management and storage during bioinformatics analysis limits their adoption, inhibiting the market demand.
 

Proteomics Market Trends

Precision medicine, also commonly referred to as personalized medicine, is one of the most promising approaches to tackling diseases that have thus far eluded effective treatments or cures. As more diagnostic and analytical techniques are incorporated into medical practice, the demand for personalized medicine is increasing. Furthermore, the high sensitivity and accuracy of mass spectrometric analysis of proteins is suited for the incorporation of proteomics into personalized medicine, thereby supplementing the market size.
 

Moreover, the increasing number of patients suffering from chronic conditions such as cardiovascular diseases (CVDs), CKD, Cancer, neurodegenerative diseases, and rare genetic conditions is another factor contributing the market growth. The Agency for Healthcare Research and Quality adds that the direct economic impact of cancer is around $80 billion per year – loss of productivity, wages, and caregiver needs sap billions more from the economy. Precision medicine is an emerging approach for such disease treatment and prevention that takes into account individual variability in genes, environment, and lifestyle for each person. Genetic testing is getting quicker and cheaper, offering researchers the opportunity to collect larger volumes of data from more diverse patient groups. By combining this data with clinical, pharmaceutical, and socioeconomic information, and then applying analytics to these integrated datasets, researchers and providers can observe patterns in the effectiveness of particular treatments and identify the genetic variations that may be correlated with success or failure. Thus, owing to the increasing prevalence of chronic diseases, the demand for personalized medicines increases that will result in a positive impact on the industry statistics.
 

Proteomics Market Analysis

Based on component, the proteomics market is segmented as instruments, consumables, and services. The consumables segment is expected to reach around USD 83.65 billion by 2032. The large share of this segment can be attributed to the availability of a wide range of reagents, kits, strips, and other consumables and their subsequent large-scale adoption during each stage of drug discovery, research, and diagnostic applications. Also, increasing government initiatives to support the field of proteomics and genomics along with the increasing research activities being undertaken in for disease diagnostics is set to propel the market for proteomics in the coming years, which will in turn augment the growth of the consumables segment.
 

Based on technique, the proteomics market is segmented as advanced technique, conventional technique, bioinformatics analysis, and other techniques. The advanced technique segment is further sub-segmented into mass spectrometry, gel-based technique, protein microarrays, and others. This segment is expected to growth at the highest CAGR of 10.7% during the forecast period. The high growth of the segment can be attributed to the wide adoption of mass spectrometry and protein microarrays in the field of clinical research and diagnostics. Furthermore, players operating in this market are engaged in the R&D and launch of various technologically advanced analytical equipment with the growing focus on research being undertaken in the field of omics.
 

Increasing initiatives in cancer research is set to aid the growth of the market in the field of proteomics

Based on application, the proteomics market has been segmented into clinical research and clinical diagnosis segments. In 2022, the clinical research segment accounted for the largest share of 54.6% of the global market. Proteomics-based technologies aid in the identification of protein expression patterns and potential biomarkers that can be used to assess tumor classification, prediction, and prognosis, making it a quintessential tool in cancer research. Also, biomarker research is gaining momentum with the aid of proteomics tools and techniques, leading to biomarket identification of diseases and disease diagnostics. Moreover, the increasing government funding in the fields of drug discovery, disease diagnostics, and therapeutics is also supporting market statistics.
 

Based on end use, the proteomics market has been segmented into pharmaceuticals, academic & research institutes, laboratories, and others. The pharmaceutical and biopharmaceutical companies segment held largest revenue share of the global market in 2022. Rising R&D funding from pharmaceutical & biopharmaceutical companies in the development of novel drugs is anticipated to upsurge the demand for proteomics services. Furthermore, growing elderly population across the globe is anticipated to foster the market size.
 

North America accounted for the largest share of the global proteomics market in 2022. This region is witnessing an increase in investments for the development of structure-based designing of drugs, increasing focus on the development of personalized medicine/therapeutics, rising demand for high-quality research tools, and increasing government funding and research initiatives for omics-based studies. In tandem to these growth factors, the presence of a large number of global players in the region supports market expansion.
 

Proteomics Market Share

Some of the major market players operating in the proteomics industry are :

• Olink
• Biognosys AG
• Agilent Technologies, Inc
• Creative Proteomics
• Thermo Fisher Scientific
• SomaLogic Operating Co
•  Promega Corporation
• Bio-Rad Laboratories
• and Proteomics GmBH to name a few

 These market players are currently undertaking various strategic initiatives such as product launches and approvals to sustain the growing market competition and improve their market share in the global proteomics industry. Additionally, players are also favouring acquisitions and mergers as a part of their strategic roadmap, with an aim of providing a competitive edge by incorporating new technologies in their product and service portfolio, leading to the enhancement of the revenue for companies.
 

Impact of COVID-19 Pandemic

The COVID-19 pandemic has proven to be advantageous for the proteomics services, thereby accelerating the market growth. Several companies were noted to revise their R&D spending for clinical trials in comparison to earlier spending, demonstrating the magnitude of disruption caused by the pandemic. Rapid clinical trials were observed due to the proliferation of new clinical trial approaches or models comprising the utilization of technologically advanced mass spectrometers especially by CROs for quality outcomes. For instance, in 2020, the advent of innovative technologies in mass spectrometers allowed to spot proteins that are unique to COVID-19. Such aforementioned attribute augmented the proteomics market revenue.
 

RECENT INDUSTRY DEVELOPMENTS:

• In February 2022, Agilent acquired artificial intelligence technology developed by Virtual Control. The company integrated the software, known as ACIES, into its industry-leading gas chromatography and mass spectrometry (GS/MS) platforms to improve the productivity, efficiency and accuracy of high throughput labs. This strategy will expand the company’s customer base as well as geographic outreach.
   
• In January 2022, Thermo Fischer Scientific acquired PeproTech, a leader in developing and manufacturing recombinant proteins. This acquisition aimed to add new capabilities to company’s existing offering.
   

The proteomics market research report includes an in-depth coverage of the industry with estimates & forecast in terms of revenue in USD from 2018 to 2032, for the following segments:

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By Component

• Instruments
• Consumables
• Services

By Technique

• Advanced technique
  • Mass spectrometry
  • Gel-based technique
  • Protein microarray
  • Others
• Conventional technique
  • ELISA
  • Chromatography based technique
  • Edman sequencing
  • Western blotting
• Bioinformatics analysis
• Others

By Application 

• Clinical diagnosis
• Clinical research

By End-use

• Pharmaceutical & biopharmaceutical companies
• Academic & research institute
• Laboratories
• Others

The above information is provided for the following regions and countries:

• North America
  • U.S.
  • Canada
• Europe
  • Germany
  • UK
  • France
  • Italy
  • Spain
• Asia Pacific
  • Japan
  • China
  • India
  • Australia
• Latin America
  • Brazil
  • Mexico
• Middle East & Africa
  • South Africa
  • Saudi Arabia