Proteomics Market worth $20,696.4 Million by 2018

According to a new market research report "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", published by MarketsandMarkets, The market was valued at $10,223.0 Million in 2013 and is expected to grow at a healthy CAGR from 2013 to 2018.

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 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.

North America accounted for a major share of around 40% of the global proteomics market in 2013, closely followed by Europe. The growth in pharmaceutical and biotechnology R&D expenditure; technological advancements such as high throughput, enhanced sensitivity, and high resolution in proteomics; availability of government and private funding; and the rising demand for proteomics technology in personalized medicine are the factors that are responsible for the large market shares of these regions.

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.

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