Growth in this market is driven by an increase in research activity (especially in the areas of personalized medicine and drug discovery). Other market drivers include increasing pharmaceutical and biotechnology R&D expenditure, government funding for proteomics, and technological advancements.
The proteomics market, by instrumentation technology, is segmented into spectroscopy, chromatography, electrophoresis, protein microarrays, X-ray crystallography, surface plasmon resonance, and protein fractionation. The spectroscopy segment accounted for the largest market share in 2018. The ability of spectroscopy to quantify the complex structure of proteins on a large scale and its capability to integrate with other technologies for protein quantification make spectroscopy an indispensable tool in proteomics. This contributes to the large share of the segment.
By product, the proteomics market is segmented by instrumentation technology, reagent, and services & software. The reagents segment is expected to account for the largest share of the market in 2018. The large share of this segment can be attributed to the increasing use of various reagents for protein separation from complex mixtures and other proteome analysis procedures, thereby moving towards effective analysis. The reagents market is further subsegmented into protein microarray reagents, spectroscopy reagents, X-ray crystallography reagents, chromatography reagents, electrophoresis reagents, Immunoassay reagents, and protein fractionation reagents.
Based on reagent, the proteomics market is segmented into protein microarray reagents, spectroscopy reagents, X-ray crystallography reagents, chromatography reagents, electrophoresis reagents, immunoassay reagents, and protein fractionation reagents. The immunoassay reagents segment is estimated to account for the largest market share in 2018, mainly due to the ability to quickly and easily provide precise and accurate results for protein identification and separation, which form the initial steps for proteome analysis.
The proteomics market in the Asia Pacific is expected to grow at the highest CAGR during the forecast period. Growth in the Latin American life sciences research industry is primarily driven by growing proteomics research in the neurobiology, cancer, and infectious disease areas, and the rising use of advanced techniques in various areas, such as disease pathway determination, drug designing, and protein analysis.
In 2018, North America dominated the global proteomics 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.
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Prominent players in global the proteomics industry 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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