Proteomics Market Size, Share, and Analysis, By Product (Instrumentation Technologies, Reagents & Consumables, and Software & Services), By Application (Clinical Diagnostics, Drug Discovery & Development, and Others), By End User (Pharmaceutical & Biotechnology Companies, Research & Clinical Laboratories, Hospitals, and Others), By Region (North America, Europe, Asia-Pacific, and Rest of the World), And Regional Forecast 2024-2034
PRODUCT OVERVIEW
Proteomics Market is anticipated to exhibit a Compound Annual Growth Rate (CAGR) of 14.1% during the forecast span from 2024 to 2034. In 2023, the market size was assessed at USD 33.2 billion and is projected to reach USD 142.7 billion by the completion of 2034.
Proteomics is the broad study of proteins, including their functions and structures. Its goal is to comprehend an organism, along with tissue or the full protein complement of the cell under certain conditions. Proteomics uses mass spectrometry and chromatography techniques to identify and measure proteins and study their functions in numerous biological processes. Unlike genomics, which focuses on DNA, proteomics emphasizes on the dynamic aspects of biological operations as proteins are the major carriers of genetic instructions. Besides, this field is important for understanding the cause of disease and designing personalized therapeutics in medicine and biotechnology.
MARKET HIGHLIGHTS
Proteomics Market is projected to reach USD 142.7 billion over the forecast period, due to technological innovations and its growing usage in drug discovery and personalized medicine. The growth is attributed to developments in high-resolution mass spectrometry and protein analysis tools, which improve the accuracy of protein characterization. In addition, the focus on understanding complex biological processes and the need for new treatment targets are also boosting market demand. Businesses are investing in creative solutions and combining proteomics with other omics technologies to provide a better understanding of biological systems. Thus, the proteomics market provides a variety of products and services such as reagents and software to meet different research and clinical requirements.
Proteomics Market Segments:
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