The proteomics market is expected to grow at a lucrative rate throughout the forecast period owing to the rising demand for proteomics technology in diagnostic and drug discovery applications in the pharmaceuticals industry. Proteomics bridges the gap between cellular behavior and genome sequence and thus is an integral part of biotechnological R&D. Rising obesity rate, increasing adoption for personalized medicine in healthcare, growing demand for upgraded proteomics technology, rising investment in R&D as well as advancement in sequencing technology act as catalysts in order to drive demand in this market throughout the forecast period. Recent development in NMR spectroscopy and mass spectrometry help in extracting maximum amount of information from minimum amount of sample. Furthermore, increasing purchasing power and investment by various organizations because of increasing availability of funds from government and corporate agencies is also expected to drive demand throughout the forecast period.
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The instrumentation market is expected to fuel market growth as it is the major segment incorporating product offerings integral to all other segments. It is also expected to witness significant demand throughout the forecast period primarily due to the increasing ability and affordability of R&D establishments to acquire highly productive solutions. Moreover, recent advancements in proteomics technology such as developments of novel detection methods and protein labeling, antibody/high throughput protein production and surface chemistry are further expected to fuel market demand through to 2022.
Geographically, proteomics market is divided into North America, Europe, Asia-Pacific and Latin America and MEA. In 2014, North America accounted for largest market share of revenue due to the increasing instrument cost and availability of funds from organizations like the National Science Foundation (NSF) and the National Institutes of Health (NIH) for various proteomics projects. Major Asian countries like China, Japan and India in the Asia Pacific are expected to witness a steady growth through to 2022 owing to increasing corporate and government funding towards R&D and increasing per capita income in this region.
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