Summary

The Asia-Pacific proteomics market is expected to witness a high growth due to the rising demand for personalized medicine, increasing R&D expenditure and increasing government funding for proteomics, and technological advancements.

These major drivers that will continue to drive the biopharmaceutical industry's pursuit of blockbuster drugs and the recent technological advances in the studies of genes and proteins. Alliances are becoming increasingly important in this field because it is challenging for companies to find all the necessary expertise to cover all activities involved in proteomics. For example, many companies are working with mass spectrometry and both the manufacturers and end-user labs are collaborating with protein chip-related companies. Increased demand for personalized medicines and increased R&D in proteomics are also driving factors for the market.

Key Market Trends

Spectroscopy Segment is Expected to Register a High Growth During the Forecast Period

The recent advances in mass spectrometry-based proteomics technologies have led to the accumulation of an incredible amount of proteomic information. This information has allowed scientists to identify protein signatures or protein biomarkers, which can be used to improve cancer diagnosis, prognosis and treatment. For example, mass spectrometry-based proteomics has been used in breast cancer research to elucidate protein function. Breast cancer is a heterogeneous group of diseases with distinct molecular features that are reflected in tumour characteristics and clinical outcomes. Compared with all other subtypes of breast cancer, triple-negative breast cancer is perhaps the most distinct in nature and heterogeneity.

The prevalence of breast cancer has increased in Asia-Pacific region over the years. As per a 2016 report published in the Critical Illness Journal, the age-standardized incidence of breast cancer in Singapore, for instance, had increased from 20.2 per 100,000 per year between 1968 and 1972 to 60.7 per 100,000 per year between 2006 and 2010. As per the report, in China and India, incidence rates have increased by up to 30% over the last 10 years, whereas in Japan, Korea and Singapore the rates have doubled or even tripled in the past few decades.

As the incidence of breast cancer increases the demand for spectroscopy proteomics is expected to increase as well. This is expected to help the proteomics market growth in the Asia-Pacific region.

Competitive Landscape

Most of the countries in Asia-pacific are developing countries. These developing economies have high number of people with unattended disease. As a result, these countries have high potential for hospitals supplies and hence, are highly lucrative for global players to enter the market. Hence, this region enjoys the presence of most of the global player in the proteomics market. Moreover, there are also some regional players that have also established their presence in in the region.

Additional Benefits:

The market estimate (ME) sheet in Excel format
3 months of analyst support

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