Strategies Being Adopted By Key Players In The Proteomics Market
Companies in the global proteomics market are launching new products in order to increase their revenue and also gain a competitive edge over their rivals. For instance, in June 2018, Bruker Corporation, a USA-based scientific instruments manufacturing company, launched a wide range of mass spectrometry devices, such as scimaXTM Magnetic Resonance Mass Spectrometer (MRMS), which is designed for enabling high throughput. The MRMS has mass resolution exceeding 20 million- in a smaller footprint and without the need for any liquid cryogens. Using MRMS, biopharma users can perform advanced native protein and fragment-based drug discovery studies, which has recently been called a “bona-fide” platform for native protein analysis in scientific literature.
Other major players in the market are investing in mergers and acquisitions to strengthen and expand their businesses. For example, in January 2020, Abcam, a UK-based company specialized in manufacturing research grade antibodies, acquired Expedeon’s Proteomics and Immunology Business for an undisclosed amount. The acquisition is expected to help Abcam to enhance its protein conjugation technology and to create new products for supporting research and diagnostic development. Expedeon Ltd. is a UK-based company that specializes in the development of next-generation tools for biological research, diagnostics, and drug discovery.
The global proteomics market was worth $18.01 billion in 2019. It is expected to grow at a compound annual growth rate (CAGR) of 14.79% and reach $31.28 billion by 2023. Key players in the market include Thermo Fisher Scientific, Inc., Agilent Technologies, Inc., Danaher Corporation, Merck KGaA, Waters Corporation, Perkinelmer, Inc., Bio-Rad Laboratories, Inc., Bruker Corporation, GE Healthcare, Caprion Biosciences, Luminex Corporation, LI-COR, Inc., Becton, Dickinson and Company, Siemens Ltd, Genzyme Corporation, Creative Proteomics, and Promega Corporation.
The proteomics market consists of sales of proteomics and related goods. Proteomics is a study of the structure and functions of proteins that are used in drug discovery, diagnosis, and treatment of diseases. Proteomics is used to evaluate the protein production rate, the involvement of proteins in metabolic pathways, and modifications of proteins. The proteomics market is segmented by component into reagents and instruments. It is also segmented by instrument into protein microarrays, spectroscopy, X-Ray crystallography, chromatography, electrophoresis, surface plasmon resonance, and protein fractionation. By service and software, the market is segmented into core proteomics services, and bioinformatics software & services.