Proteomics Market Growth and Analytical Insights
Major drivers of the proteomics market include rise in popularity of personalized medicine, increase in research and development expenditure and technological advancements related to proteomics components. Furthermore, high costs associated with proteomics components and lack of skilled professionals hamper the market growth.
North America accounted for the largest share of the proteomics market in 2019 with nearly 39.0% of the total market due to the growing popularity and adoption of personalized medicine and favorable government funding and initiatives to develop new therapies. However, Asia-Pacific is expected to grow at a CAGR of 15.6% during the period 2019 to 2027, as the prevalence of chronic diseases increases and researchers' interest in using proteomics in disease diagnosis and treatment increases.
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Post Covid-19 Scenario:
· Most markets are dropping down as COVID-19 outbreak has negatively affected various healthcare related markets.
· The development of therapeutic and preventive strategies requires an accurate understanding of the role that proteins play in the SARS-CoV-2 infection process and progression of COVID-19.
· A wide array of identification and separation techniques can isolate proteins from complex mixtures, facilitating the analysis of protein-protein interactions, temporal expression patterns and cellular or subcellular distribution.
The protein microarray segment in the proteomics instruments market accounted for the highest revenue in 2019 due to the high adoption of this technology to track protein interactions in a shorter time compared to other technologies.
Proteomics has the potential to clarify questions not addressed by genomics, because proteins are the functional units of cells. Advances in technologies such as mass spectrometry and chromatography and the development of computer algorithms for database searching facilitate proteomics research. One of the biggest applications of proteomics is the analysis of target proteins for disease diagnosis.
