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Thermo Fisher Scientific (U.S.) and Agilent Technologies (U.S.) Lead the Proteomics Market: Industry Witnesses Continuous Innovations, Technological Advancements, and Geographic Expansions
The proteomics market is a highly fragmented market, with none of the major players accounting for more than 14% of the market share. This market comprises several small players, each accounting for a market share between 1% and 5%. The overall supplier base of proteomic technologies, reagents, and services is heavily concentrated in developed markets across North America and Europe; these regions are home to more than 80% to 85% of the existing market players.
Thermo Fisher Scientific (U.S.) and Agilent Technologies (U.S.) were the leading players in the proteomics market in 2012, with market shares of approximately 6% to 10% each in the instrumentation technology segment. Thermo Fisher also held a leadership position in the proteomic reagents market. More recently, the company further strengthened its market position with the acquisition of Life Technologies, the second largest player in 2012.
The stronghold of Thermo Fisher Scientific in the proteomics market can largely be attributed to its innovative product portfolio in the mass spectrometry and chromatography segment, including Isotope Ratio Mass Spectrometry (IR-MS), Liquid Chromatography Mass Spectrometry (LC-MS), and Gas Chromatography Mass Spectrometry (GC-MS), among others. In order to maintain its leadership position in the market, the company focuses on launching new products. Therefore, the company is continuously growing in the proteomics market, through its new product launches and expansions in developing economies. Moreover, the company acquired Life Technologies Corporation, to expand its product portfolio and strengthen its global presence. The company’s continuous investment in capacity expansion has made it stronger in terms of production capacity.
Agilent Technologies has a diversified product portfolio, which includes a wide range of atomic spectroscopy, gas chromatography, liquid chromatography, mass spectrometry, molecular spectroscopy, microarray scanners, X-Ray crystallography, and many other instruments used in proteomics research. Agilent Technologies’ leading position in the market can be attributed to its strong manufacturing and distribution footprint across the world, which enables it to serve customers in more than 100 countries. Recently, the company introduced a liquid chromatography solution with advanced protein-sizing capabilities, thereby indicating the company’s focus on continual product innovations in the proteomics industry, so as to gain new customers and thereby expand its global reach.
The key strategies followed by most companies in the global proteomics market in 2012 and 2013 were new product launches, expansions, mergers and acquisitions, and partnerships and agreements. Broad research in this market has brought to light that new product launches was the most significant growth strategy followed by the top five players, which accounted for 56% of the total strategic developments during 2010 to 2013. Some of the key players with the most number of innovative product launches include Thermo Fisher Scientific Corporation (U.S.), Agilent Technologies (U.S.), and Bio-Rad Laboratories (U.S.).
In this technologically driven market, top players always strive to garner a greater market share by continuous innovation activities and diversification of their product portfolio. With the presence of many high growth markets in Asia and Latin American region, top players also reckon geographic expansion as a significant growth strategy in the next few years.
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
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