Proteomics Market Growing Demand and Huge Future Opportunities by 2028
The global proteomics market is expected to reach a market size of USD 65.91 billion by 2028 and register a high CAGR during the forecast period, according to a new report by Reports and Data. The proteomics market is witnessing increased revenue growth due to the growing popularity of personalized medicines, advancements in technology, and rise in research & development expenditure and initiatives. A key driving factor is the rising trend of personalized medicine. Biotechnology and pharmaceutical companies have over the years doubled their investment in R&D of personalized medicine. Advancement in proteomics technologies contributed to the development of personalized medicines by enabling detection of proteomics molecular diagnostics, protein biomarkers, pharmacoproteomics, and protein biochips. Personalized medicine is commonly used in cancer treatment. High cost of proteomics equipment and lack of skilled workforce is a factor hampering growth of the market...