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.
Following are the Major Objectives of this Study:
# To define, describe, segment, and forecast the global proteomics market by instrumentation technology, reagent, services and software, application, end user, and region.
# To provide detailed information about the factors influencing market growth (such as drivers, restraints, opportunities, and industry-specific challenges)
# To analyze micromarkets with respect to individual growth trends, prospects, and contributions to the overall market
# To analyze market opportunities for stakeholders and provide details of the competitive landscape for key players
# To forecast the size of the proteomics market in five main regions along with their respective key countries (North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa)
# To profile key players in the global proteomics market and comprehensively analyze their core competencies and market shares
# To track and analyze competitive developments such as acquisitions; product launches; expansions; collaborations, partnerships, & agreements; and R&D activities of the leading players in the proteomics market
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# In 2018, Thermo Fisher Scientific, Inc. and Symphogen formed a collaboration under which Symphogen will use the Thermo Scientific Q Exactive Plus Orbitrap LC/MS/MS system with its BioPharma Option to create, test, and validate platform workflows for intact and native mass analysis of therapeutic monoclonal antibody (mAb) mixtures.
# In 2018, Thermo Fisher Scientific, Inc. launched TSQ Fortis Triple Quadrupole Mass Spectrometer and UHPLC-MS Ultrapure Solvents.
# In 2018, Agilent Technologies acquired Advanced Analytical Technologies, Inc. to enhance its technology base and provide a comprehensive set of solutions for NGS workflows.
# In 2017, Merck KGaA signed an MoU with Samsung BioLogics for a strategic alliance on biopharmaceutical manufacturing and biologics process development. Under the agreement, Merck would supply Mobius single-use systems, cell line, cell culture media, and chromatography to accelerate the development of biologic drugs.
Critical questions answered in the report:
# How will the current technological trends affect the proteomics market in the long term?
# How is the service market for proteomics moving?
# What are the application areas of the market?
# Which regions are likely to grow at the highest CAGR?
# What are the growth strategies being implemented by major market players?
Factors Influencing Global Growth:-
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.
# High Cost of Instruments
# Growing Prominence of Nanoproteomics—The Convergence of Nanotechnology and Proteomics
# Personalized Proteomics for Precision Health
# High Growth Opportunities in Emerging Countries
# Data Management in Proteomics Research
# Low Biomarker Discovery-To-Approval Ratio
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Monetary Growth Expectations, Globally:
According to the Research Study conducted by MarketsandMarkets™: 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%.
Geographical Growth Scenario:
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.
Leading Market Players:
# Thermo Fisher Scientific, Inc. (US)
# Agilent Technologies, Inc.(US)
# GE Healthcare (US)
# Bio-Rad Laboratories, Inc. (US)
# Danaher Corporation (US)
# Luminex Corporation (US) and many more…
These companies are focusing on increasing their presence in the high-growth markets through both organic as well as inorganic growth strategies such as product launches, acquisitions, partnerships, agreements, collaborations, joint ventures, and expansions.