Proteomics Market

Thermo Fisher Scientific, Inc. (US), Agilent Technologies, Inc. (US), and Danaher Corporation (US) are the leading players in the Proteomics Market

The proteomics market is projected to reach USD 38.7 billion by 2024 from USD 19.5 billion in 2019, at a CAGR of 14.7%. The increase in the research activity, especially in the areas of personalized medicine and drug discovery is the primary growth driver for this market. Other market drivers include the increasing pharmaceutical and biotechnology R&D expenditure and government funding for proteomics and technological advancements. Rapid growth in developing countries across the APAC and Latin America and increasing focus on personalized proteomics along with the emergence of nanoproteomics offer significant growth opportunities for players. On the other hand, drawbacks related to data management and storage, the high cost of instruments, and a disconnect between biomarker discovery and their subsequent approval are some major market challenges.

Thermo Fisher Scientific, Inc. (US), Agilent Technologies, Inc. (US), GE Healthcare (US), Merck KGaA (Germany), Danaher Corporation (US), Waters Corporation (US), Bio-Rad Laboratories, Inc. (US), Luminex Corporation (US), Bruker Corporation (US), PerkinElmer, Inc. (US), Creative Proteomics (US), and Promega Corporation (US) are the key players operating in this market. These companies are focusing on increasing their presence in the high-growth markets through both organic as well as inorganic growth strategies such as product launches, acquisitions, partnerships, agreements, collaborations, joint ventures, and expansions.

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Thermo Fisher Scientific was one of the leading players in the proteomics market in 2018. The company is known for its diversified product offerings in the proteomics arena, ranging from protein expression, purification and isolation kits; electrophoresis instruments and reagents; protein assays and analysis; labeling and crosslinking; mass spectrometry instruments; and protein purification & analytics interactive tools, along with a wide range of customization services. Owing to its strong sales and distribution network, the company has a significant global footprint. Additionally, its large number of production sites gives it a competitive advantage over other players in the proteomics market. Moreover, its significant investment in R&D enables it to provide innovative products & services in the market space, thus enabling it to maintain and improve its competitive position in the global market. The company has focused on complementary acquisitions to achieve internal growth. In March 2016, Thermo Fisher acquired Affymetrix, Inc., a leading provider of cellular and genetic analysis products. The increasing demand for high-quality research products, the growing proteomics and genomics research sector, and strong presence in the emerging markets are significant growth opportunities for the company to enhance its position in the proteomics market in the coming years.

Agilent Technologies is a global player in the proteomics market, with wide geographic coverage. The company has maintained its leadership position in the market through its strong distribution networks across North America, Europe, and the Asia Pacific. The company offers a wide range of LC/MS solutions for the life science industry. The 6500 Series Accurate-Mass Quadrupole Time-of-Flight (Q-TOF) LC/MS solution of the company provides all the capabilities of accurate protein separation and the precise identification of protein/peptide. The company focuses on acquisitions as a key growth strategy. It acquired Advanced Analytical Technologies, Inc. (AATI), a provider of capillary electrophoresis-based (CE) solutions to expand its technology base and provide a comprehensive set of solutions for NGS workflows. The company’s growth can also be attributed to its focus on product launches & enhancements, partnerships, and agreements with other market players. In the coming years, the company plans to concentrate on attractive growth businesses in emerging markets, gain access to new growth areas through innovation, and continuously improve its products.

Related Reports:

Proteomics Market by Instrument (Spectroscopy, Chromatography, Electrophoresis, Microfluidics, X-ray Crystallography), Reagents, Services & Software (Protein Identification, Characterization, Bioinformatics), Application - Global Forecast to 2024

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