Genomics and Proteomics Reagents, Research Kits, & Analytical Instrumentation Market To Boost Market Growth Pace With A 12.2% CAGR In The Forecast From 2020 to 2027

Genomics and proteomics form the core “omics” fields of life science research and account for a majority share of research in healthcare industry. The fields find application in agriculture and animal husbandry, drug discovery, forensics, proteogenomics research, and disease identification, diagnostics, and control.

The global genomics and proteomics reagents, research kits, and analytical instrumentation market is estimated to account for US$ 59,185.3 Mn in terms of value in 2020 and is expected to reach US$ 132,162.2 Mn by the end of 2027.

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Global Genomics And Proteomics Reagents, Research Kits, and Analytical Instrumentation Market: Drivers

Increasing investment in the pharmaceutical sector is expected to propel growth of the global genomics and proteomics reagents, research kits, and analytical instrumentation market over the forecast period. For instance, according to The European Federation of Pharmaceutical Industries and Associations’ Key Data 2019, the pharmaceutical sector in Europe invested US$ 19, 509 million in 2000, which increased to US$ 39,895 million (est.) in 2018.

Moreover, increasing approval and launch of drugs is also expected to aid in growth of the market. For instance, in 2019            the U.S. Food and Drug Administration’s Center for Drug Evaluation and Research (CDER) approved 48 novel drugs and European Medicines Agency reported that 30 new active substances were approved in the same year.

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Thermal cyclers held dominant position in the global genomics and proteomics reagents, research kits, and analytical instrumentation market in 2019, accounting for 34.8% share in terms of value, followed by Europe and Asia Pacific, respectively.

Figure 1: Global Genomics and Proteomics Reagents, Research Kits, and Analytical Instrumentation Market Share (%) Value, By Region, 2019

Global Genomics and Proteomics Reagents, Research Kits, and Analytical Instrumentation Market: Restraints

Low adoption and penetration of reagents, research kits, and analytical instrumentation in developing countries is expected to hinder growth of the market. This can be attributed to the high cost of the equipment and high capital investment required to set up a modern laboratory.

Moreover, the market is highly fragmented, which increases volume but reduced revenue of the market. This in turn is expected to hinder growth of the market.

Global Genomics and Proteomics Reagents, Research Kits, and Analytical Instrumentation Market: Opportunities

Increasing prevalence of chronic disorders is expected to offer lucrative growth opportunities for players in the global genomics and proteomics reagents, research kits, and analytical instrumentation market. For instance, according to the American Cancer Society, in 2019, there will be an estimated 1,762,450 new cancer cases diagnosed and 606,880 cancer deaths in the U.S.

Moreover, increasing adoption of proteomics in disease diagnostics is also expected to aid in growth of the market. For instance, in September 2019, researchers from Eulji University, South Korea, reported use of proteomics approach to identify two proteins, namely serum amyloid A4 and vitamin D binding protein that demonstrated high performance in distinguishing patients with rheumatoid arthritis from healthy controls.

The global genomics and proteomics reagents, research kits, and analytical instrumentation market was valued at US$ 52,353.2 Mn in 2019 and is forecast to reach a value of US$ 132,162.2 Mn by 2027 at a CAGR of 12.2% between 2020 and 2027.

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Figure 2: Global Genomics and Proteomics Reagents, Research Kits, and Analytical Instrumentation Market Value (US$ Mn), 2016 – 2027

Market Trends/Key Takeaways

Major players in the market are focused on adopting partnership strategies to expand their product portfolio. For instance, in October 2019, Illumina, Inc. partnered with QIAGEN N.V. to broaden the availability and use of NGS-based in-vitro diagnostic kits, including companion diagnostics, for patient management.

Major players in the market are also focused on adopting M&A strategies to expand their product portfolio. For instance, in November 2018,  Agilent Technologies Inc. acquired ACEA Biosciences Inc., a developer of cell analysis tools, for US$ 250 million in cash.

Global Genomics and Proteomics Reagents, Research Kits, and Analytical Instrumentation Market: Competitive Landscape

Major players operating in the global genomics and proteomics reagents, research kits, and analytical instrumentation market include, Thermo Fisher Scientific, Agilent Technologies, Becton Dickinson & Company, Bio-Rad Laboratories, Inc., Bruker Corporation, Danaher Corporation, Illumina, Inc., Life Technologies Corporation, and Merck Millipore.

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Global Genomics And Proteomics Reagents, Research Kits, and Analytical Instrumentation Market: Key Developments

Major players in the market are focused on adopting partnership strategies to expand their product portfolio. For instance, in January 2020, Agilent Technologies Inc. collaborated with Indian Institute of Technology Delhi, India, to promote biopharmaceutical research.

Similarly, in September 2019, Bruker Corporation collaborated with Murdoch University for R&D in prevention and diagnosis of diseases through the Australian National Phenome Center, the international center of expertise for metabolic phenotyping.

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