Posted on 9th Jul 2009 @ 9:26 AM

According to a new market research report available at Electronics.ca Publications, Proteomics: Technologies and Global Markets, the global market for proteomics was worth $6.7 billion in 2008 and an estimated $7.9 billion in 2009. This is expected to reach $19.4 billion in 2014, for a compound annual growth rate (CAGR) of 19.7%.
 
The market is broken down into segments for equipment, technology, services, and database and software. Of these, proteomics equipment is currently the largest segment of the market, generating $4.1 billion in 2008. This is expected to increase to $4.8 billion in 2009 and more than $13 billion in 2014, for a CAGR of 21.9%.
 
The second-largest share of the market currently belongs to proteomics technology, which generated $1.3 billion in 2008. This segment is expected to generate $1.5 billion in 2009 and $2.9 billion in 2014, for a CAGR of 13.9%.
 
Proteomics services make up the third-largest market segment, worth $748.1 million in 2008 and an estimated $885.2 million in 2009. This should increase to $2.1 billion in 2014, for a CAGR of 18.8%.
 
Proteomics is the study of the structure and function of proteins in a gene. It has various uses starting from identifying proteins and performing a protein-expression profile by identifying the protein in a specific state of an organism.
 
The market encompasses significant driving forces that indicate high-growth prospects. The key buyers of proteomics include diagnostics companies, drug development companies, and healthcare institutes. Other buyers include food and nutrition centers and physical surveillance centers (homeland security). The key buyers account for more than 70% of the market.

Proteomics, which enables effective analysis of the function and structure of biological systems, is evolving into an important tool in the field of life sciences. It is being used in the field of diagnosis for therapy and treatment of diseases such as cancer and Alzheimer’s disease, among others. Technological advancements and increasing applications of proteomics for drug discovery are helping drug manufacturers to develop more efficient and effective drugs, and reduce substantial development costs.

Details of the new report, table of contents and ordering information can be found on Electronics.ca Publications' web site. View the report: Proteomics: Technologies and Global Markets.