Market Size of North America Proteomics Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | 12.50 % |
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?
North America Proteomics Market Analysis
The North American proteomics market is expected to register a CAGR of 12.5% over the forecast period.
Proteomics played a major role during the COVID-19 pandemic. During the pandemic, few market participants made strategic actions, which fueled the market expansion. Numerous proteomic biomarker studies were conducted on COVID-19, including those on proteins of interest that are altered in patients with mild or severe SARS-CoV-2 infections, targeted mass spectrometry-based multiple reaction monitoring (MRM) assays for virus diagnosis, and profiling of plasma/serum and urine proteomics to identify disease pathways. For instance, as per the article published by the Journal of Integrative Biology in January 2022, proteomics is a crucial high-throughput technology platform for gaining a functional overview of how COVID-19 alters host biology. As a result, it can assist in uncovering potential points of entry for innovation in a variety of fields, including pharmaceuticals and vaccines. Hence, the COVID-19 pandemic created a significant impact on the growth of the market and is expected to continue the same over the coming years.
The major factors driving the growth of the market include rising demand for personalized medicine, increasing R&D expenditure, and government funding for proteomics and technological advancements in proteomics.
Proteomics-based molecular diagnostics, protein biochips, and pharmacoproteomics are a few of the innovative medical techniques that have been made possible by advances in proteomic technologies. These innovations have had a significant impact on the development of personalized medicine. For instance, in August 2022, the Clemson University research team developed an open-source model to assist medical researchers in developing scalable prediction models that can represent intricate cellular interactions and permit the integration of sizable datasets, which could be used to advance personalized medicine techniques like cancer drug-matching. Hence, with rising demand for personalized medicine, which involves various proteomic technologies, is expected to drive the market over the forecast period.
Furthermore, the new acquisitions among the market players increase the research activities on proteomics, which is expected to boost the growth of the market. For instance, in December 2021, Insightful Science acquired Protein Metrics to expand its R&D solution to include proteomics. The acquisition expanded the company's R&D value chain to widen the biopharmaceutical protein analysis arena, unblocking data analysis bottlenecks currently associated with large-scale protein studies. Thus, the new company acquisitions help to expand the research and development for proteomics, which is expected to propel the growth of the market over the forecast period.
Thus, all the aforementioned factors, like new research developments in the field of proteomics and new partnerships and acquisitions among the market players, increase the widespread distribution of proteomics services, which is expected to boost the market growth over the forecast period. However, the high cost of instruments is expected to hinder the growth of the market over the forecast period.
