Proteomics Market Size, Share, Growth Analysis, By Instrumentation Technology(Spectroscopy (Mass Spectroscopy, NMR Spectroscopy, CD Spectroscopy), Chromatography (HPLC), By Reagent(Immunoassay Reagents, Spectroscopy Reagents, Chromatography Reagents, Protein Microarray Reagents), By Service & Software(Core Proteomics Services (Protein Identification Services, Protein Characterization Services, Quantitative Proteomics Services, Protein Purification Services), By Application(Clinical Diagnostics (Cancer, Infectious Diseases, Diabetes, Neurological Disorders), By End User(Hospitals, Clinical Laboratories, Pharmaceutical & Biotechnology Companies, Academic Research Laboratories), By Region - Industry Forecast 2024-2031

Global Proteomics Market size was valued at USD 25.2 billion in 2022 and is poised to grow from USD 29.35 billion in 2023 to USD 100.17 billion by 2031, growing at a CAGR of 16.55% in the forecast period (2024-2031). 

According to Globocan, there will be 19.3 million new cases of cancer worldwide with 10 million cancer-related deaths reported. CVDs are one of the leading causes of death worldwide. According to the WHO, target diseases kill 41 million people each year. Thus, as the prevalence of life-threatening diseases rises, so does the demand for personalised therapies, resulting in a positive impact on the industry. Another factor expected to drive market growth is the rising prevalence of chronic diseases such as cancer, cardiovascular diseases (CVDs), respiratory diseases, CKD, and others. 

Increased investments in proteomics R&D are a growth driver in the field of proteomics. The National Institutes of Health (NIH) of the United States provided $37 billion for biomedical research. This funding was intended to support life sciences research that sought to understand the fundamental processes by which diseases develop, such as the identification of biomarkers that indicate the presence of disease or the identification of the gene/protein responsible for the disease. The Novo Nordisk Foundation awarded the University of Copenhagen a grant of up to $1.5 million to establish a mass spectrometry facility, which is a significant step forward in protein research. The Global Proteomics Market is also expected to pick up steam following the consistent resumption of the activities in the midst of the pandemic which has caused a worldwide disruption in operating activities.

US Proteomics Market is poised to grow at a sustainable CAGR for the next forecast year.