Certain factors driving the market growth include rising demand for personalized medicine, increasing R&D expenditure and government funding for proteomics, and technological advancements.
These major drivers will continue to drive the biopharmaceutical industry's pursuit of blockbuster drugs and the recent technological advances in the studies of genes and proteins. Alliances are becoming increasingly important in this field because it is challenging for companies to find all the necessary expertise to cover all activities involved in proteomics. For example, many companies working with mass spectrometry and both the manufacturers and end-user labs are collaborating with protein chip-related companies. Increased demand for personalized medicines and increased R&D in proteomics are also driving factors for the market. However, the market is constrained by strict regulatory norms and the high cost of the instruments.
Key Market Trends
Drug Discovery is Expected to Witness Healthy CAGR in Future
The identification of potential new drugs for the treatment of disease has been considered one of the most promising developments in the study of human genes and proteins. This depends on genome and proteome information for the identification of proteins, associated with a disease, which can then be used as targets for new drugs by computer software. Preclinical stages in the process of drug discovery need a multitude of genetic and biochemical assays in order to characterize the effects of drug candidates on cellular systems as well as model organisms. Almost every large pharmaceutical company now has proteomics-oriented biotech or academic partner or has started its own proteomics division. The general applications of proteomics in the drug industry include identification of efficacy and of toxicity biomarkers from readily accessible biological fluids, target identification and validation, and investigations into mechanisms of drug action or toxicity.
North America dominates the Market and expected to do Same in the Forecast Period
In North America, antibody-drug conjugates and protein therapeutics play a significant role in the treatment and diagnosis of diseases. This is a continuously evolving field with extensive research on novel and innovative next-generation therapeutics. More than a hundred modified therapeutic proteins are approved for clinical use in the region. Hundreds of protein therapeutics are in clinical trials for the treatment of cancer, immune disorders, infections, age-related diseases, and many other conditions. Besides, research on proteomics is at the highest in countries like the United States.
The global proteomics market is highly competitive and consists of a number of major players. Companies like Agilent Technologies, Inc., Bio-Rad Laboratories, Inc., Bruker Corporation, Danaher Corporation, GE Healthcare, Merck KGaA, Promega Corporation, Thermo Fisher Scientific, Inc., and Waters Corporation, among others, hold the substantial share in the proteomics market.
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1.1 Study Deliverables
1.2 Study Assumptions
1.3 Scope of the Study
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.2.1 Rising Demand for Personalized Medicine
4.2.2 Increasing R&D Expenditure and Government Funding for Proteomics
4.2.3 Technological Advancements
4.3 Market Restraints
4.3.1 High Cost of Instruments
4.4 Porter's Five Forces Analysis
4.4.1 Threat of New Entrants
4.4.2 Bargaining Power of Buyers/Consumers
4.4.3 Bargaining Power of Suppliers
4.4.4 Threat of Substitute Products
4.4.5 Intensity of Competitive Rivalry
5 MARKET SEGMENTATION
5.1 By Product & Services
5.1.1 Instrumentation Technology
22.214.171.124 Protein Microarrays
126.96.36.199 X-Ray Crystallography
188.8.131.52 Other Instrumentation Technologies
5.1.3 Software and Services
5.2 By Application
5.2.1 Clinical Diagnostics
5.2.2 Drug Discovery
5.2.3 Other Applications
5.3.1 North America
184.108.40.206 United States
220.127.116.11 United Kingdom
18.104.22.168 Rest of Europe
22.214.171.124 South Korea
126.96.36.199 Rest of Asia-Pacific
5.3.4 Middle-East & Africa
188.8.131.52 South Africa
184.108.40.206 Rest of Middle-East & Africa
5.3.5 South America
220.127.116.11 Rest of South America
6 COMPETITIVE LANDSCAPE
6.1 Company Profiles
6.1.1 Agilent Technologies, Inc.
6.1.2 Bio-Rad Laboratories, Inc.
6.1.3 Bruker Corporation
6.1.4 Danaher Corporation
6.1.5 GE Healthcare
6.1.6 Merck KGaA
6.1.7 Promega Corporation
6.1.8 Thermo Fisher Scientific, Inc.
6.1.9 Waters Corporation
7 MARKET OPPORTUNITIES AND FUTURE TRENDS
Secondary Research Information is collected from a number of publicly available as well as paid databases. Public sources involve publications by different associations and governments, annual reports and statements of companies, white papers and research publications by recognized industry experts and renowned academia etc. Paid data sources include third party authentic industry databases.
Once data collection is done through secondary research, primary interviews are conducted with different stakeholders across the value chain like manufacturers, distributors, ingredient/input suppliers, end customers and other key opinion leaders of the industry. Primary research is used both to validate the data points obtained from secondary research and to fill in the data gaps after secondary research.
The market engineering phase involves analyzing the data collected, market breakdown and forecasting. Macroeconomic indicators and bottom-up and top-down approaches are used to arrive at a complete set of data points that give way to valuable qualitative and quantitative insights. Each data point is verified by the process of data triangulation to validate the numbers and arrive at close estimates.
The market engineered data is verified and validated by a number of experts, both in-house and external.
REPORT WRITING/ PRESENTATION
After the data is curated by the mentioned highly sophisticated process, the analysts begin to write the report. Garnering insights from data and forecasts, insights are drawn to visualize the entire ecosystem in a single report.