HOME Research Insight Mass spectrometry technology to lead the proteomics market growth during 2013 to 2018

Mass spectrometry technology to lead the proteomics market growth during 2013 to 2018

In 2013, the global proteomics market was majorly dominated by the North American region, closely followed by Europe. However, these markets are regarded as saturated to an extent, with an expected CAGR of lower than the average industry growth rate during the forecast period.

The North American market will witness a significant decline in its global share, mainly due to cuts in research funding in the U.S., the largest market in North America for proteomic technologies. On the other hand, Asian and Latin American markets are slated to drive most of the market growth during 2013 and 2018, with a growth rate of 17% to 20%. The growth of the Asian market will primarily be driven by China and India, currently having only 5% to 7% share of the global proteomics market. Growth in these markets can mainly be attributed to the rising demand for quality healthcare, increasing investments in proteomics research by both governments and key market players, and increasing awareness towards personalized medicine. China holds a tremendous growth potential for the proteomics market during the forecast period of 2013 to 2018 and is expected to grow at the highest CAGR of nearly 25%. The growth in China will primarily be driven by pharmaceutical research related to drug discovery and drug development, and diagnostics product development in this region. The European market is slated to grow at a faster pace than North America, mainly due to the increasing investments in proteomic techniques and increasing collaborations between the public and private sector for advancement of proteomics research.

In the instrumentation technologies segment, the mass spectrometry market is poised to grow at a higher CAGR as compared to other technologies. Major factors for this growth are the several advancements in the mass spectrometry technology and its ability to integrate with other technologies to quantify the complex structure of proteins. The growth in adoption of various mass spectrometry-based proteomic approaches and its increasing uptake in drug discovery and target identification procedures also supports mass spectrometry as an exciting growth opportunity for proteomics-based pharmaceutical and biotechnology companies to invest in.

Among proteomic reagents, the immunoassay segment will continue to drive and dominate the proteomics reagents market during 2013 and 2018, followed by the spectroscopy reagents market which is expected to grow at a CAGR of nearly 14% during the forecast period. Among services, the analytical services market segment accounted for a majority share of the global proteomic services market in 2013. This is one of the fastest growing segments in the proteomics market, with an expected CAGR of more than 20% during 2013 and 2018.

Related Reports:

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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