COVID-19 Impact on Global Proteomics market
The COVID-19 outbreak is an unprecedented global public health challenge and is expected to have a significant impact on the proteomics market, as researchers across the globe are focusing on decoding three-dimensional structures of severe acute respiratory syndrome coronavirus 2 (SARS-CoV-2) proteins. Scientists are also trying to study the identification methods, structures, characterization, and interactions of these proteins to develop effective drugs and biological products against COVID-19. To identify a new effective target therapeutic drug for a virus, it is important to understand the protein structure of virus proteins and their specific sites. At this stage, protein crystallization techniques play an important role as they provide high-resolution 3D structures.
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Proteomics Market Overview:
The Proteomics Market is projected to reach USD 55.9 billion by 2026 from USD 25.9 billion in 2021, at a CAGR of 16.6% 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 proteomics market. In addition, the increasing R&D expenditure by pharmaceutical and biotechnology companies, increasing government funding, and technological advancements are also propelling the proteomics market growth.
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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.
The core proteomics services segment accounted for the largest share of the proteomics market, by product segment, in 2020
Based on service and software, the proteomics market is segmented into core proteomics services and bioinformatics software & services. In 2020, the core proteomics services segment accounted for the largest share of the global proteomics market. Core proteomics services form the basis of proteomics and are highly adopted at every stage of proteome analysis.
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 the Middle East and Africa. In 2020, North America accounted for the largest market share. 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
The major players operating in this market are Thermo Fisher Scientific Inc. (US), Bio-Rad Laboratories, Inc. (US), Merck KGaA (Germany), Agilent Technologies, Inc. (US), Bruker Corporation (US), Danaher Corporation (US), GE Healthcare (US), Luminex Corporation (US), PerkinElmer Inc. (US), Waters Corporation (US), Illumina, Inc. (US), Eurofins Scientific (Luxembourg), QIAGEN Bioinformatics (Netherlands), Creative Proteomics (US), Promega Corporation (US), Sengenics (Singapore), Biomax Informatics AG (Germany), MS Bioworks LLC (US), WuXi NextCODE (China), Fios Genomics Ltd. (UK), GENEWIZ (US), Biognosys AG (Switzerland), Bioproximity (Switzerland), MRM Proteomics Inc. (Canada), Integrated Proteomics Applications (US), Poochon Scientific, LLC (US), Proteome Factory AG (Germany), VProteomics (India), HORIBA, Ltd. (Japan), and Applied Biomics, Inc. (US).
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