Market Size of Asia-Pacific Proteomics Industry
| Study Period | 2021 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2021 - 2022 |
| CAGR | 7.60 % |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
APAC Proteomics Market Analysis
Asia-Pacific Proteomics Market is expected to register a CAGR of 7.6% over the forecast period.
During the COVID-19 pandemic, proteomics helped in various ways. Few market players undertook strategic initiatives during the pandemic, which boosted the market growth. For instance, in April 2021, Shionogi & Co., Ltd. and Sysmex Corporation reported that HISCL TARC Assay Kit, a Th2 chemokine (TARC) kit, was approved for an additional indication as an auxiliary for assessment of aggravation risk in patients testing positive for SARS-CoV-2. The development of therapeutic and preventive strategies requires an accurate understanding of proteins' role in the SARS-CoV-2 infection process and progression of COVID-19. However, due to the temporary shutdown of research institutes and less manpower, performing research activities normally during the COVID-19 pandemic was difficult. But, with time, the situation gradually improved, which is expected to support the market growth over the forecast period.
The widening applications of proteomics are contributing largely to market growth. For instance, according to the data from MDPI published in February 2021, proteomic analysis is one of the leading approaches with increasing significance in clinical applications that are associated with the development of high-performance instruments that allow for the identification of disease-specific biomarkers and rapid protein profiling of the analyzed samples. Therefore, with the implementation of proteomics for infectious disease therapeutics, the cell-free protein expression market is expected to grow during the study period.
Additionally, the involvement of the government in the betterment of the biotechnology industry is fueling the market growth. For instance, as per a May 2020 update by the India Brand Equity Foundation (IBEF), in the Union Budget 2022-23, the Department of Biotechnology was allotted Rs. 2,581 crores (USD 343.56 million) for developing basic infrastructure, genetic engineering, technologies, and bioinformatics, agriculture biotechnology, and training skilled professionals. This is anticipated to boost the number of research and development activities about protein identification and will contribute to the growth of the market studied.
However, the high cost of instruments is believed to hinder market growth over the forecast period.
