NEW YORK, Aug 15 – A new study of the proteomics market forecast that the proteomics market would grow nearly six-fold to $5.6 billion by 2006 from $963 million in 2000.
In its report, consultancy firm Frost & Sullivan said the increase would be driven by a shift towards the analysis of proteomes following the discovery that the human genome contains fewer genes than originally predicted.
"Proteomics adds value to drug discovery by charting the distribution of proteins, identifying and characterizing proteins of interest, and elucidating the participation of proteins in biochemical pathways boosting the number of potential targets around which lead compounds can be designed and screened," Eric Gay, a Frost & Sullivan analyst, said in a statement.
The report, which separates proteomics by tool providers and drug discovery companies, offers the most aggressive forecast to date for the sector.
In June, Front Line Strategic Management Consulting forecast that the proteomics market would increase from a $561-million market to a $2.8-billion market by 2005.
In their report, Front Line forecast that a few players would continue to control the mass spec market, while the 2-D gel market would shrink as faster, simpler tools were developed.
The report said that the protein chip market would also grow, naming Ciphergen Biosystems as a leader in the space. Front Line also singled out Integrative Proteomics for its efforts to develop ways to speed up protein analysis.