Proteomics Market worth $20,696.4 Million by 2018 - New Research Report by MarketsandMarkets

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MarketsandMarkets

Major Players - Thermo Fisher Scientific Corporation (U.S.), Agilent Technologies (U.S.), and Bio-Rad Laboratories (U.S.)

(PRWEB) August 22, 2014

The “Proteomics Market by Technology (Protein Microarray, Mass Spectrometry, NMR Spectroscopy, Chromatography, Electrophoresis, Surface Plasmon Resonance, X-ray Crystallography) - Instruments, Reagents & Services - Global Forecast to 2018", analyzes and studies the major market drivers, restraints, and opportunities in North America, Europe, Asia, and the Rest of the World (RoW)

Browse 138 market data tables, 49 figures spread through 415 pages and in-depth TOC on “Proteomics Market by Technology (Protein Microarray, Mass Spectrometry, NMR Spectroscopy, Chromatography, Electrophoresis, Surface Plasmon Resonance, X-ray Crystallography) - Instruments, Reagents & Services - Global Forecast to 2018”
http://www.marketsandmarkets.com/Market-Reports/proteomics-market-731.html

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The global proteomics market is segmented based on instrument technology type, reagents, services, and by geographic regions and by country. The market was valued at $10,223.0 million in 2013 and is expected to grow at a healthy CAGR from 2013 to 2018.

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The proteomics market has experienced significant growth in the past few years, mainly due to the increasing need of proteomic outcomes in diagnosis, drug discovery, and various applicable advancements in technologies needed to perform proteomic services. Factors that are expected to propel the market growth include the increase in demand for personalized medicine, growing research and development expenditure, technological advancements, and increased funding for proteomics-based projects. However, factors such as the reduction in funding owing to the sequestration cuts in the U.S., difficulties faced by proteomics companies to gain regulatory approvals for biomarkers, high costs of proteomic tools, and dearth of qualified researchers are restraining the growth of this market to a certain extent.

The North American market will witness a significant decline in its global share, mainly due to cuts in research funding in the U.S., the largest market in North America for proteomic technologies. On the other hand, Asian and Latin American markets are slated to drive most of the market growth during 2013 and 2018, with a growth rate of 17% to 20%. The growth of the Asian market will primarily be driven by China and India, currently having only 5% to 7% share of the global proteomics market. Growth in these markets can mainly be attributed to the rising demand for quality healthcare, increasing investments in proteomics research by both governments and key market players, and increasing awareness towards personalized medicine. China holds a tremendous growth potential for the proteomics market during the forecast period of 2013 to 2018 and is expected to grow at the highest CAGR of nearly 25%. The growth in China will primarily be driven by pharmaceutical research related to drug discovery and drug development, and diagnostics product development in this region. The European market is slated to grow at a faster pace than North America, mainly due to the increasing investments in proteomic techniques and increasing collaborations between the public and private sector for advancement of proteomics research.

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Among proteomic reagents, the immunoassay segment will continue to drive and dominate the proteomics reagents market during 2013 and 2018, followed by the spectroscopy reagents market which is expected to grow at a CAGR of nearly 14% during the forecast period. Among services, the analytical services market segment accounted for a majority share of the global proteomic services market in 2013. This is one of the fastest growing segments in the proteomics market, with an expected CAGR of more than 20% during 2013 and 2018.

The major players in the global proteomics market are Thermo Fisher Scientific Corporation (U.S.), Agilent Technologies (U.S.), Luminex Corporation (U.S.), Sigma-Aldrich Corporation (U.S.), and Danaher Corporation (U.S.), among others.

The key strategies followed by most companies in the global proteomics market in 2012 and 2013 were new product launches, expansions, mergers and acquisitions, and partnerships and agreements. Broad research in this market has brought to light that new product launches was the most significant growth strategy followed by the top five players, which accounted for 56% of the total strategic developments during 2010 to 2013. Some of the key players with the most number of innovative product launches include Thermo Fisher Scientific Corporation (U.S.), Agilent Technologies (U.S.), and Bio-Rad Laboratories (U.S.).

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