Healthcare Medical Devices Biotechnology

Proteomics Market is Expected to Reach USD 67.30 Billion by 2031

May 2024

Healthcare Medical Devices Biotechnology

As per the report published by Kings Research, the global Proteomics Market was valued at USD 24.96 billion in 2023 and is projected to reach USD 67.30 billion by 2031, growing at a CAGR of 13.20% from 2024 to 2031.

Rising investments in biopharmaceutical research are playing a significant role in fueling the growth of the proteomics market. Biopharmaceutical companies are increasingly utilizing proteomic technologies to accelerate drug discovery and development processes. Proteomics offers valuable insights into protein expression, structure, function, and interactions, enabling researchers to identify potential drug targets and assess drug efficacy and safety. With the growing emphasis on precision medicine and personalized therapies, proteomics is becoming an indispensable tool for biomarker discovery, patient stratification, and companion diagnostics in biopharmaceutical research.

Moreover, advancements in proteomic instrumentation, data analysis algorithms, and bioinformatics tools are driving innovation and expanding the capabilities of proteomics in drug discovery and development. As biopharmaceutical companies continue to invest in proteomic technologies and collaborations with academic institutions and technology providers, the demand for proteomics solutions is expected to surge, thereby driving market growth.

Key Insights

  • Based on product & services, the software & services segment is estimated to register a CAGR of 13.89% between 2024 and 2031
  • Based on application, the clinical diagnostics segment accounted for the largest market share of 55.42% in 2023
  • On the basis of region, Asia-Pacific is anticipated to reach a valuation of USD 14.81 billion by 2031

Olink and Formulatrix Collaborate to Enhance Automated Proteomic Workflows

March 2023: Olink Proteomics, a provider of high-throughput protein biomarker analysis solutions, collaborated with Formulatrix, a leader in automated liquid handling and laboratory robotics. The partnership aimed to optimize and automate proteomic workflows, enabling the efficient analysis of large sample volumes while maintaining high data quality and reproducibility. By integrating Olink's advanced protein analysis technologies with Formulatrix's automated liquid handling platforms, researchers streamlined sample preparation, minimized manual errors, and accelerated data generation. This collaboration underscored the commitment to advancing proteomics research by leveraging innovative automation solutions.

Expanding Applications in Agriculture and Environmental Sciences to Foster Proteomics Market Expansion

Expanding applications of proteomics in agriculture and environmental sciences are creating new avenues for research and innovation. Proteomics plays a crucial role in understanding plant biology, crop development, and responses to environmental stresses such as drought, salinity, and pest infestations. By analyzing protein expression patterns and post-translational modifications in plants, proteomic studies enable the identification of stress-responsive proteins, signaling pathways, and molecular mechanisms underlying plant stress tolerance and resilience. This knowledge contributes to the development of stress-tolerant crop varieties, sustainable agricultural practices, and crop protection strategies, resulting in enhancing crop productivity, food security, and environmental sustainability. Moreover, proteomics is increasingly applied in environmental monitoring and remediation efforts to assess the impact of pollutants, toxins, and contaminants on ecosystems and human health. By profiling protein expression profiles in environmental samples, proteomic studies provide insights into the biological effects of environmental stressors and facilitate the identification of biomarkers for pollution monitoring, risk assessment, and remediation strategies.

Rising Demand for Proteomics in Point-of-Care Testing Services to Present Novel Growth Prospects

Rising demand for proteomics in point-of-care testing is creating new market opportunities for rapid and decentralized diagnostics. Point-of-care testing refers to medical diagnostic testing that is performed near the patient, outside of traditional laboratory settings, and delivers immediate results to facilitate timely clinical decision-making. Proteomic technologies offer unique advantages for point-of-care testing, including high sensitivity, specificity, and multiplexing capabilities, enabling the detection of multiple disease biomarkers in a single assay. By analyzing protein biomarkers in bodily fluids such as blood, saliva, and urine, proteomic point-of-care tests can aid in the early detection, diagnosis, and monitoring of various diseases, including infectious diseases, cardiovascular disorders, cancer, and metabolic conditions. Moreover, proteomic point-of-care tests hold promise for personalized medicine applications, allowing for the rapid identification of patient-specific biomarker profiles and treatment responses. The expansion of proteomics into point-of-care testing is driven by the growing demand for accessible, cost-effective, and user-friendly diagnostic solutions, particularly in resource-limited settings, remote areas, and emergencies. As technology advancements continue to miniaturize and automate proteomic assays, the market for point-of-care proteomic diagnostics is expected to grow.

Asia-Pacific to Record a Staggering CAGR of 14.49% Over the Forecast Period

Based on region, the global proteomics market is classified into North America, Europe, Asia-Pacific, MEA, and Latin America. Asia-Pacific is poised to grow substantially at a CAGR of 14.49% through the projected period. This growth can be attributed to the rapid urbanization, demographic shifts, and increased healthcare spending in the region. Rising investments in biopharmaceutical research, academic collaborations, and government initiatives are fueling adoption across sectors. The region's focus on precision medicine and personalized therapies highlights the importance of proteomics in addressing various clinical needs. With favorable regulations, expanding market opportunities, and growing research funding, the region is anticipated to grow significantly over the estimated timeframe.

Major Industry Players Ink Collaborative Deals to Strengthen Market Foothold

The global proteomics market reveals a fragmented landscape, featuring prominent companies including Thermo Fisher Scientific Inc., Agilent Technologies, Inc., Merck KGaA, Danaher Corporation, GE Healthcare, PerkinElmer Inc., Waters Corporation, Bio-Rad Laboratories, Inc., Bruker Corporation, Illumina, Inc., and others. Companies employ a variety of strategic measures such as acquisitions, mergers, partnerships, product introductions, and collaborations to expand their global business footprint and enhance their competitive position.

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