A profile of the growing proteomics industry

Editor’s note: The following research was originally collected and analyzed as part of the 2018 Target Industry Study for Prince William County, Virginia, for the County Department of Economic Development.

The basics of proteomics

What is proteomics? Put simply, it is the study of proteomes and their functions (surprising). In other words, proteomics is the study of proteins, which are vital parts of all living organisms. Proteins are important because they do the vast majority of work in cells and lead the structure and function of tissue and organs. Think back to high school biology class – proteins are the things that are involved in every component of living things like you, me, our pets, and our office plants.

Proteomics is a growing industry, particularly in the fields of medicine and academia. By studying and experimenting with the mechanisms by which proteins are formed, this can help researchers identify interactions, which helps researchers understand the biochemical processes involved in the interaction.1 These interactions provide pertinent information for understanding and detecting diseases.

The proteomics industry is comprised of three components: instruments, reagents, and services. According to Grand View Research, the regents component was estimated to be the largest and the fastest growing segment in recent years. A reagent is a substance for use in chemical analysis or other reactions; and growth in this component of the proteomics industry can be attributed to significant amounts of research in academic institutions coupled with high frequency of usage of reagent in the analysis of biological samples.2

But, this is a blog about economic development. So, why does any of this matter?

The study of proteomics is highly influential in drug discovery, development of personalized medicine, and disease diagnosis. This coupled with the imminent future of a large and aging population, catalyzing significant projected growth in the healthcare-related research and development, makes proteomics an important industry to watch. Proteomics will continue to have an innovative affect on the healthcare industry, which has been changing in recent years. For more information about innovations in the healthcare industry see Digital Tech Trends and the Future of the Health Care Industry and Health Care and Real Estate Development Trends in the U.S. Both as a science and as a component of research and development, proteomics has grown substantially in the past few decades. According to Grand View Research, the global proteomics market was valued at nearly $12 billion in 2015. Additionally, the proteomics industry in North America accounted for the largest share of the global market at over 40%.3 As noted, the significance of the proteomics industry in the U.S. can attributed to the immense healthcare infrastructure, a large target population, as well as the presence of key industry players.4 In the U.S. and around the world, understanding and diagnosing diseases is one of the fastest growing applications of proteomics. This, in addition to the introduction of technologically advanced instruments, increasing awareness on new diagnostic techniques, and the increasing use of personalized medicines, are the factors contributing to growth in the industry.6

What this means for economic development, and workforce development.

However, with so many advantages of a growing proteomics industry, there are notable challenges. High cost of the medicine and devices as well as the lack of professional researchers are both barriers for growth and success of the proteomics industry.5 The lack of a highly skilled workforce to participate in the industry is a significant barrier to its growth, due in part because proteomics requires skilled researchers in multiple different areas. Skilled researchers are not only needed to preform laboratory analysis but also to interpret the proteomics data and extract meaningful biological information from the complex data sets. Additionally, there is an overall shortage of scientists in the industry since the field is relatively young and there is lack of knowledge as to what proteomics can achieve in the future. This workforce challenge exists globally, and oppositely will serve as an opportunity for regions that have access to research and development related education institutions.  

 
 

 

1. Proteomics Market: Industry Challenges, Key Vendors, Drivers, Trends and Forecast to 2022 Shekhar Gajul on August 20, 2018

2.Proteomics Market Analysis By Product (Instruments, Reagents, Services), By Technology (Microarray, X-Ray Crystallography, Spectroscopy, Chromatography, Protein Fractionation Systems, Electrophoresis, Surface Plasma Resonance Systems), By Application (Drug Discovery, Clinical Diagnosis), And Segment Forecasts To 2024 Grand View Research

3. Proteomics Market Analysis By Product (Instruments, Reagents, Services), By Technology (Microarray, X-Ray Crystallography, Spectroscopy, Chromatography, Protein Fractionation Systems, Electrophoresis, Surface Plasma Resonance Systems), By Application (Drug Discovery, Clinical Diagnosis), And Segment Forecasts To 2024 Grand View Research

4. Proteomics Market Analysis By Product (Instruments, Reagents, Services), By Technology (Microarray, X-Ray Crystallography, Spectroscopy, Chromatography, Protein Fractionation Systems, Electrophoresis, Surface Plasma Resonance Systems), By Application (Drug Discovery, Clinical Diagnosis), And Segment Forecasts To 2024 Grand View Research

5. Proteomics Market: Global Industry Analysis and Opportunity Assessment 2016-2026 created by Future Market Insights

6. Proteomics Market Analysis By Product (Instruments, Reagents, Services), By Technology (Microarray, X-Ray Crystallography, Spectroscopy, Chromatography, Protein Fractionation Systems, Electrophoresis, Surface Plasma Resonance Systems), By Application (Drug Discovery, Clinical Diagnosis), And Segment Forecasts To 2024 Grand View Research

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