Overview of This Research:
This study involved the extensive use of both primary and secondary sources. The research process involved the study of various factors affecting the industry to identify the segmentation types, industry trends, key players, competitive landscape, key market dynamics, and key player strategies.
The secondary research process involves the widespread use of secondary sources, directories, databases (such as Bloomberg Businessweek, Factiva, and D&B Hoovers), white papers, annual reports, companies house documents, investor presentations, and SEC filings of companies. Secondary research was used to identify and collect information useful for the extensive, technical, market-oriented, and commercial study of the proteomics market. It was also used to obtain important information about the key players and market classification & segmentation according to industry trends to the bottom-most level, and key developments related to market and technology perspectives. A database of the key industry leaders was also prepared using secondary research.
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In the primary research process, various sources from both the supply and demand sides were interviewed to obtain qualitative and quantitative information for this report. The primary sources from the supply side include industry experts such as CEOs, vice presidents, marketing and sales directors, technology & innovation directors, and related key executives from various key companies and organizations operating in the proteomics market. The primary sources from the demand side included industry experts, such as researchers and scientists, and industry experts from pharmaceutical & biotechnology companies. Primary research was conducted to validate the market segmentation, identify key players in the market, and gather insights on key industry trends & key market dynamics.
Expected Revenue Growth:
The proteomics market is projected to reach USD 38.7 billion by 2024 from USD 19.5 billion in 2019, at a CAGR of 14.7%. Growth in this market is driven by increasing research activity in the area of personalized medicine and drug discovery, increasing R&D expenditure by the pharmaceutical and biotechnology sector, and rising government funding for proteomics.
North America to dominate the proteomics market during the forecast period
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 the proteomics market 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).