Proteomics Market Trends

Growth Drivers

• Rising Collaborations and Rapid Technological Advancements in Product Development - Over the course of the forecast period, the production of novel and efficient medications and diagnostic tools is anticipated to receive a boost in funding from major industry players, which will drive proteomics market expansion. Important firms have used a range of tactics, including global expansion, mergers and acquisitions, and strategic alliances, to bolster their market positions. In addition, in order to broaden their range of products, the major businesses are focusing on technological innovation and development.

• Growing Product Performance and Innovations for Improved Quantification Accuracy- To offer a wider range of products, the leading companies are creating new technologies and combining existing ones. Proteomics can be applied to a wide range of biological issues and research areas. Proteomics has quickly expanded to include almost all facets of protein research, ranging from the identification and characterization of post-translational modifications (PTMs) to the identification and measurement of biomarkers. Market expansion is impacted by the growing use of proteomics in a variety of academic fields.

• Increasing Applications in Drug Discovery and Biomarkers - Applications in the clinical and health sciences such as food science, drug target discovery, and biomarker research can all benefit from proteomic studies. Proteomic biomarker identification has advanced in several conditions such as AIDS, and renal disease through the use of body fluids including serum and urine. In 2020, there were 1,603,844 new cancer cases recorded in the US, and 602,347 cancer-related deaths. 403 new cases of cancer were reported for every 100,000 persons, and 144 people lost their lives to the disease. The most recent year for which incidence statistics are available is 2020. Proteomics is now being used for patient care and treatment in addition to drug discovery. Increased use of proteomics in drug development will therefore promote market expansion.

Challenges

• High Cost of Instruments for Proteomics- The high cost of proteomics instruments prevents small businesses and academic organizations from using them. High costs make it difficult for well-known companies to expand in developing nations. The cost of the treatment increases when a longer duration in the lab is required. The use of this knowledge in developing countries is insufficient since the instruments and reagents needed are costly. Protein expression and gene cloning are done using X-ray crystallography, the most widely used proteomics technology. Along with purification, it also helps with protein crystallization. The longer these operations take, the more expensive they become, which will decrease their adoption in developing countries. Consequently, these factors have a significant impact on the market's growth.

• Difficulties with Samples and Sample Preparation Methods

• Shortage of Skilled Professionals.