Proteomics market to grow to $24.8 billion by 2024

pharmafile | September 13, 2016 | News story | Manufacturing and Production, Research and Development Grand View Research, proteomics 

The global proteomics market is predicted to grow to exceed $24.8 billion by 2024, according to a new report by Grand View Research.

Proteomics – the large-scale study of proteins – has become a powerful tool in the treatment of diseases including diabetes, obesity and cancers. While these illnesses are difficult to treat because they vary from patient to patient, researchers from the Ecole Polytechnique Fédérale de Lausanne and ETH Zurich in Switzerland have developed a method to identify and define metabolic differences between individuals, and this is expected to drive further demand in the area.

The introduction of technology-enabled proteomics products such as ESI-LC-MS (electrospray ionisation liquid chromatography mass spectrometry), as well as their increasing market applications and penetration are expected to contribute towards this growth, in addition to the emerging presence of organisations promoting the development of new techniques, technologies and training pertaining to the field such as the Human Proteome Organization.

According to the study, the reagents segment was the big player in the 2015 proteomics market and is expected to witness further lucrative growth thanks to their extensive use in R&D activities and the introduction of novel biomarker-specific kits, such as Pro2PSA biomarker for prostate cancer and CA27.29 biomarkers for breast cancer. The instruments segment is also projected to grow significantly as demand for user-friendly, cost-effective and efficient devices rises. Protein microarray technology represented more than 45% of the total market in 2014.

Furthermore, North America accounted for over 40% of the market in 2015, stimulated by favourable government initiatives and increasing adoption of personalised medicine. 12% of the market was taken up by Asia Pacific in the same year; the region is expected to become the fastest growing market due to its increasing prevalence of chronic diseases.

Matt Fellows

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