Mass Spectrometry in Protein Biomarker Market to Witness an Outstanding Growth by 2027
Protein biomarkers are indicators which are responsible for diagnosis and treatment of different diseases, mainly, cancer. These proteins may leak from tumors to body fluids and lead to early diagnosis.
These protein biomarkers are used in diagnostic purpose as well as several research studies such as drug discovery and potential treatment option for cancer.
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Protein biomarkers need to be discovered for these cancer diagnosis, research, and treatment purposes. This biomarker discovery stage is followed by verification and validation steps in biomarker pipeline.
In discovery and verification stages, both mass spectrometry and combination of liquid chromatography and mass spectrometry can be used. Mass spectrometry has greater importance in biomarker pipeline and biomarker studies.
Key Drivers and Restraints of Global Mass Spectrometry in Protein Biomarker Market
Rise in prevalence of cancer across the world and increase in demand for protein biomarker in different disease diagnosis and treatment are some of the major factors responsible for the growth of global mass spectrometry in protein biomarker market
For instance, according to the WHO, cancer was responsible for an estimated 9.6 million deaths and was the second major cause of death globally in 2018. It is estimated that around 1 in 6 deaths occur due to cancer at global level.
Advancement of mass spectrometry instruments coupled with software is also one of the major factors attributed for the growth of global mass spectrometry in protein biomarker market
Different strategic collaborations, mergers & acquisitions among major companies and research institutes for research purpose is also propelling the global mass spectrometry in protein biomarker market.
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Higher Cost of Research Activities to Hamper Mass Spectrometry in Protein Biomarker Market
It takes very high cost or expenditure for research activities of biomarker in cancer and other related studies. Hence, lack of pharmaceutical & biotechnology companies’ capability for biomarker research due to cost factor may hinder the growth of global mass spectrometry in protein biomarker market.
Lower reproducible results associated with protein assays are also a problem as these assays exhibit less reproducibility due to day-to-day variability because of multiple steps in bottom-up proteomic process.
Mass Spectrometers to be Dominant segment
Based on product type, the global mass spectrometry in protein biomarker market can be segmented into mass spectrometers, accessories, and software
Mass spectrometers dominated the global market, owing to increase in demand of instrument in proteomics and growing application in cancer research
The mass spectrometer segment is further sub-segmented into MALDI-TOF MS, Triple Quadrupole MS, Quadrupole-Trap MS, Hybrid Linear Trap Orbitrap MS, and Quadrupole-Orbitrap MS
Triple Quadrupole MS is expected to be a highly lucrative sub-segment during the forecast period, owing to its features which are relatively simple and easy-to-use with good reproducibility to offer various applications at a low cost
Research & Development Application Segment to be Highly Lucrative Segment
In terms of application, the global mass spectrometry in protein biomarker market can be divided into diagnostics, research & development, therapeutics, and others
The diagnostic segment is anticipated to dominate the mass spectrometry in protein biomarker market during the forecast period. Rise in number of cancer cases across the world and increase in trend for early disease detection by advanced diagnostic procedures are some of the major factors responsible for the growth of this segment.
The research & development segment is projected to be a lucrative segment of the global market, owing to increase in number of research activities and search of new drugs for different conditions
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Life Sciences Companies Segment to be More Promising
Based on end-user, the global mass spectrometry in protein biomarker market can be segmented into diagnostic centers, life sciences companies, and academic & research institutes
The life sciences companies segment is anticipated to be a more promising segment in the next few years due to growth in research activities and rise in search for drug discovery and new molecules by these companies
North America to Lead Global Mass Spectrometry in Protein Biomarker Market
In terms of region, the global mass spectrometry in protein biomarker market can be divided into: North America, Europe, Asia Pacific, Latin America, and Middle East & Africa
North America dominated the global mass spectrometry in protein biomarker market in 2018, owing to higher prevalence of cancer, higher demand of biomarkers for disease diagnosis, presence of major players engaged in mergers & acquisitions, collaboration with CROs for biomarkers, and rise in investment for R&D by companies
For instance, in August 2017, BioIVT acquired Asterand Bioscience which was focused on drug research by biomarker validation and target identification
The mass spectrometry in protein biomarker market in Asia Pacific is expected to grow with a high CAGR during the forecast period, owing to large patient pool of cancer, increase in research activities, and improving health care infrastructure in the region.
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Key Manufacturers Operating in Global Mass Spectrometry in Protein Biomarker Market
Key manufacturers operating in the global market are Thermo Fisher Scientific Inc., Agilent Technologies, Inc., GE Healthcare, Bruker Corporation, Advion, Inc., IONICON, Shimadzu Corporation, PerkinElmer Inc., LECO Corporation, DH Tech., Dev. Pte. Ltd.