How do North America's growth prospects for the proteomics market size in 2022

PUNE, India - Dec. 19, 2022 - PRLog -- According to the report published by Allied Market Research, On the other hand, North America accounted for nearly two-fifths of the total market share in 2017 and will maintain its leadership status by 2025. This is due to rise in funding by various organizations, the implementation of agreements and collaborations strategies, and surge in R&D investments.

The Global Proteomics Market Size was valued at USD 21.12 billion in 2019, is poised to Reach USD 49.97 billion by 2027, witnessing a Growing CAGR of 12.2% from 2020 to 2027.

Rise in prominence of personalized medicine, surge in R&D expenditure, and technological advancements related to proteomics components facilitate the growth in the market. However, scarcity of skilled professionals and high costs related to proteomics components hinder the growth in the market. On the other hand, opportunities related to biomarker identification and advancements in mass spectrometry-based proteomics create new opportunities in the industry.

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The key players in the market-

• Agilent Technologies Inc.
• Danaher Corporation
• LI-COR, Inc.
• PerkinElmer, Inc.
• Thermo Fisher Scientific, Inc.
• HORIBA, Ltd.
• Bio-Rad Laboratories, Inc.
• Bruker Corporation
• General Electric (GE)
• Waters Corporation

Based on type, the reagents segment has accounted for more than three-fourths of the global proteomics market share in 2019 and will continue to lead by 2027. This is due to increased adoption of proteomics in diagnostic and medical industry. However, the instruments segment is expected to grow at the highest CAGR of 14.1% from 2020 to 2027, owing to unprecedented increase in R&D activities for the development of novel instruments that can be used for studying structure and functional roles of encoded proteins.

Based on application, the drug discovery segment contributed around three-fifths of the global proteomics market share in 2019, and will maintain its dominance during the forecast period. Introduction of safer, effective, and cost-effective drugs is expected to be the ultimate outcome of improvement of proteomics technology, which drives the growth of the segment. On the other hand, the disease diagnosis segment is expected to manifest the fastest CAGR of 12.6% during the forecast period.

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