Genomics and Proteomics Market Well Poised to Surpass US$52.3 bn by 2019, Driven by Expanding Application Areas
The global genomics and proteomics market reagents, research kits, and analytical instruments, which stood at US$23.8 bn in 2012, will log a strong 12.1% CAGR from 2013 through 2019, says Transparency Market Research in a new report. The market is thus projected to approximate US$52.3 bn in the next three years, i.e. by 2019. These findings and other key growth projections for the market are discussed in detail in a report, titled ‘Genomics and Proteomics Reagents, Research Kits, and Analytical Instruments Market – Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2013 – 2019.
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The global genomics and proteomics reagents and research kits market is segmented by type into: Sample preparation kits, purification reagents kits, biochips and microarrays, and electrophoresis kits. Similarly, the global genomics and proteomics analytical tools market is broken down by technology into: Mass spectrometry, chromatography, next-generation sequencing, and thermal cyclers. The market, on the basis of geography, has been segmented into North America, Asia Pacific, Europe, and Rest of the World.
Much of the growth predicted to be shown by the global the global genomics and proteomics reagents, research kits, and analytical instruments market will stem from the parallel growth in clinical and preclinical research for the purpose of identifying new diseases and developing drugs to treat them. The growth of the global the global genomics and proteomics reagents, research kits, and analytical instruments market will also be fuelled by the dramatic increase in the number of people diagnosed with cancer, diabetes, and a host of other genetic diseases in recent years. All of these factors point toward higher revenue growth for the global genomics and proteomics reagents, research kits, and analytical instruments market.
However, it is not just the healthcare industry that can be credited for the growth of this market. Demand is also on the rise from the agriculture sector and the forensics industry. This has impelled companies in the global the global genomics and proteomics reagents, research kits, and analytical instruments market to focus on formulating solutions to meet emergent needs across industry, and diversify their offerings. Some of the most heavily funded life sciences research projects are focused on studying genomics – a factor that will further fuel the market’s growth. Likewise, proteomics has also attracted the interest of scientists.
The emergence of proteogenomics is yet another opportunity that can be harnessed by companies operating in the market. The field has received an impetus after the completion of the Human Genome project in 2001, which brought to the fore the pressing need to have affordable techniques to sequence genomes of organisms besides human beings. This has resulted in the development of additional technologies such as gel electrophoresis, thermal cyclers, and mass spectrometry.
Moreover, the miniaturization of devices in the electronics and semiconductor industries, especially that of memory devices, will shape the future of the global genomics and proteomics reagents, research kits, and analytical instruments market in the coming years.
Among the leading companies profiled in the global genomics and proteomics reagents, research kits, and analytical instruments market are Sigma Aldrich, Life Technologies, Illumina, Waters, and Thermo Fisher.
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