Proteomics Market Growth Trajectory Through 2024-2033|Thermo Fisher Scientific, Inc., Agilent Technologies, Inc., Bruker Corporation, Waters Corporation, Bio-Rad Laboratories, Inc.

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The Proteomics by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).

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According to The Business Research Company’s Proteomics, The proteomics market size has grown rapidly in recent years. It will grow from $30.84 billion in 2023 to $35.21 billion in 2024 at a compound annual growth rate (CAGR) of 14.2%. The growth in the historic period can be attributed to increase in government funds for research on proteomics, advancement in technologies, rise in healthcare expenditure, growth in the number of healthcare facilities and economic growth in emerging markets.

The proteomics market size is expected to see rapid growth in the next few years. It will grow to $58.61 billion in 2028 at a compound annual growth rate (CAGR) of 13.6%. The growth in the forecast period can be attributed to increasing financing for proteomics ventures, rising requirement for customized medicine, increasing research and development activities and growth in investments in biotech companies attributing to coronavirus outbreak . Major trends in the forecast period include focus on considering nanotechnology for identifying low-abundant samples, developing and advancing new technologies, launching new products, invest in technology such as artificial intelligence (ai) and real time improved imaging.

Rising government funds for research on proteomics drives the growth of the proteomics market. Government funds help researchers in drug discovery, diagnosis, and treatment of diseases. For instance, in May 2022, according to Proteomics International Laboratories Limited, an Australia-based medical technology company with a focus on the area of proteomics, received $400,000 in funding to bolster its manufacturing capabilities within Australia. This funding is for the advancement of the PromarkerD test’s production in Australia and South-East Asia. This involves expanding upon Proteomics International’s specialized ISO 13485 certification. Therefore, rising government funds positively impacts the proteomics market.

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The proteomics market covered in this report is segmented –

1) By Component: Reagents, Instruments, Software
2) By Instrument: Protein Microarrays, Spectroscopy, X-ray Crystallography, Chromatography, Electrophoresis, Surface Plasmon Resonance, Protein Fractionation
3) By Type: Core Instrument Services, Proteomic Analytical Services

Companies are launching new products in order to increase their revenue and also gain a competitive edge over their rivals. For instance, in June 2021, Bruker Corporation, a USA-based scientific instruments manufacturing company, announced the availability of two new trapped ion mobility spectrometry time-of-flight (timsTOF) instruments at its 4D-Proteomics eXceed Symposium. The devices, which are based on ion mobility separation and mass spectrometry, will provide additional advances in proteomics, epiproteomics/PTM characterisation, and deep multiomic biomarker discovery.

The proteomics market report table of contents includes: