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The global proteomics market has been forecast to rise at a compound annual growth rate (CAGR) of 14.2% over the next five years, to reach a market value of $17.2 billion by 2017.
Proteomics studies the structure and function of proteins, the principal constituents of the protoplasm of all cells. The word "proteome" is derived from PROTEins expressed by a genOME, and it refers to all the proteins produced by an organism, much like the genome is the entire set of genes. The human body may contain more than 2 million different proteins, each having different functions.
Over the past decade the proteomics market has gained importance in the field of diagnosis and drug research and development and is poised to grow at a healthy pace mainly due to increasing innovations and developments in the field of proteomics instrumentation, the availability of funds from various organisations and the increase in research & development expenditure.
However, the economic slowdown, and lower adoption rate due to expensive tools and instruments will restrict the growth of this market to a certain extent.
Proteomic technologies will play an important role in drug discovery, diagnostics and molecular medicines due to the link between genes, proteins and disease. As researchers study defective proteins that cause particular diseases, their findings will help develop new drugs that either alter the shape of a defective protein or mimic a missing one.
North America currently represents the largest region within the proteomics market, followed by Europe and Asia. The Asian market, especially India and China, is expected to witness a boost in demand for proteomics products and is poised to register maximum growth over the next five years, predominantly due to economic development.
Key players currently dominating the global proteomics market include Thermo Fisher Scientific, Inc. (US), Agilent Technologies (US), Life Technologies (US), Sigma-Aldrich (US), Danaher Corporation (US), Waters Corporation (US), Roche (Switzerland), Bio-Rad (US), and Luminex (US).
For more information on the global proteomics market, see the latest research: Global Proteomics Market
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