Market Trends of North America Proteomics Industry
Drug Discovery is Expected to Witness Highest CAGR in the Market Over the Forecast Period
The proteomic approach to drug discovery involves identifying an unstable protein that is having a negative effect and employing a molecule to change that effect. The identification of potential new drugs for the treatment of disease has been considered one of the most promising developments in the study of human genes and proteins. This depends on genome and proteome information for the identification of proteins associated with a disease, which can then be used as targets for new drugs by computer software. The major factors that drive the segment to grow to include the increasing demand for advanced drug treatments and increasing funding for proteomic drug discovery research.
The establishment and launch of new proteomic technologies for various activities under drug discovery are expected to drive the market over the forecast period. For instance, in December 2022, Quantum-Si, the protein sequencing company, launched Platinum, a next-generation single-molecule protein sequencing platform. The elegant simplicity of this next-generation protein sequencing platform enables broad-scale access to proteomic data, positioning Platinum as a critical instrument for the future of proteomics research. This is expected to have a significant impact on the market over the forecast period.
Furthermore, in November 2022, Rezo was launched with a USD 78 million series, funding to advance the pipeline of precision therapeutics based on a groundbreaking integrated disease network mapping platform. Integration of technologies across proteomics, genetics, structural biology, chemistry, and bioinformatics enables advanced insights into disease biology for accelerated drug discovery. Hence, the new funding by the market players in drug discovery and proteomics help expand proteomics services, which is expected to drive the market over the forecast period.
Thus, the establishment of new technologies and new research funding for drug discovery with proteomics decrease the challenges in drug discovery, which is expected to have significant growth in the market over the forecast period.
United States is Expected to Have Significant Growth in the Market Over the Forecast Period
The United States is expected to hold a large market share, owing to the increasing research and development activities on drug discovery, technological advancements in proteomics, and increasing demand for personalized medicine in the country.
In addition, research funding for various proteomic techniques from government organizations is expected to drive the market over the forecast period in the country. For instance, in July 2021, the United States NIH funded a sum of USD 20 million for technology development in single-molecule and single-cell proteomics. This increases the research activities on proteomics in the country, which is expected to propel the growth of the market over the forecast period.
Furthermore, the new partnerships among the market players for the expansion of proteomic services are expected to have a significant impact on the market over the study period. For instance, in June 2022, Philips incorporated Biodesix blood-based proteomic nodule risk assessment testing into Lung Cancer Orchestrator to better assess the risk of lung nodule malignancy, enhancing decision-making for diagnosis and treatment. These partnerships among the companies increase the proteomic services for various applications, which are likely to boost the market growth in the country over the forecast period.
Therefore, the new funding for proteomic technology and new partnerships by market players increases the widespread distribution of proteomic services in the region, which is expected to have significant growth in the market over the forecast period.
