Proteomics Market worth $55.9 billion by 2026
iCrowd Newswire
According to the new market research report by Product (Spectroscopy, Chromatography, Electrophoresis, X-ray Crystallography), Reagent, Service (Core Proteomics, Bioinformatics), Application (Diagnostic, Drug Discovery), End User (Hospital, Labs, Biopharma) - Global Forecast to 2026″, published by MarketsandMarkets™, the Proteomics Market is valued at an estimated USD 25.9 billion in 2021 and is projected to reach USD 55.9 billion by 2026, at a CAGR of 16.6%.
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An increase in the research activity, especially in the area of personalized medicine and drug discovery, is the primary growth driver for this market. In addition, the increasing R&D expenditure by pharmaceutical and biotechnology companies, increasing government funding, and technological advancements are also propelling the market growth.
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Jersey City, N.J., June 9, 2021 /PRNewswire/ Verified Market Research recently published a report, Proteomics Market By Reagent (Protein Microarray Reagents, X – Ray Crystallography Reagents, Electrophoresis Reagents & Others), By Instrumentation Technology (X – Ray Crystallography, Surface Plasmon Resonance, Protein Fractionation & Others), By Software and Service (Core Proteomics Services and Bioinformatics Software and Services), By Application (Clinical Diagnostics, Drug Discovery and Other Applications), and By Geography. According to Verified Market Research, the Global Proteomics Market was valued at USD 21.64 Billion in 2020 and is projected to reach USD 73.17 Billion by 2028, growing at a CAGR of 16.50% from 2021 to 2028.
- The growth of the market can be attributed to a growth in research activities surrounding personalized medicine, increasing investments in R&D by Pharmaceutical and Biotechnology Companies