Market Overview:
The protein engineering market is projected to reach US$1,936.7 million in 2023 and is estimated to exhibit a significant growth rate of CAGR 15.6% over the forecast period (2023-2028). Protein engineering involves manipulating the structure and function of proteins to enhance their properties, such as specificity, stability, and activity. This technology finds applications in various industries, including pharmaceuticals, biotechnology, and food production. The rising demand for efficient therapeutics and the increasing prevalence of chronic diseases are driving the growth of the protein engineering market. Advancements in genetic engineering and the development of high-throughput screening methods are further propelling market growth. Protein engineering enables the production of improved enzymes, antibodies, vaccines, and recombinant proteins, leading to enhanced diagnostic and therapeutic capabilities.
Market Key Trends:
One of the key trends in the protein engineering market is the increasing adoption of computational protein design. The combination of computational algorithms and experimental techniques enables the de novo design of proteins with desired properties. This approach allows researchers to design proteins that can be used as therapeutics, enzymes, or biomaterials. Computational protein design has vast applications in drug discovery, enzyme engineering, and protein-based materials. It offers several benefits, such as reduced time and cost associated with traditional protein engineering methods. Furthermore, the ability to predict protein structure and function accurately enhances the success rate of protein engineering projects. With advancements in computational power and algorithms, the adoption of computational protein design is expected to grow significantly in the coming years.
Segment Analysis:
One segment within the protein engineering market is the pharmaceutical and biotechnology industry. This segment is dominating the market due to several factors. Firstly, there is an increasing demand for novel and effective protein-based therapeutics in the treatment of various diseases. The pharmaceutical and biotechnology companies are heavily investing in protein engineering to develop new drugs with improved efficacy and safety profiles. Additionally, the rise in drug resistance and the need for personalized medicine have further fueled the growth of this segment. These companies are leveraging protein engineering techniques to develop targeted therapies that can better address individual patient needs.
Key Takeaways:
The Global Protein Engineering Market is expected to witness high growth, exhibiting a CAGR of 15.6% over the forecast period. This growth can be attributed to various factors. Firstly, the increasing prevalence of chronic diseases, such as cancer and diabetes, has boosted the demand for personalized medicine, driving the adoption of protein engineering techniques. Additionally, advancements in technology, such as gene editing and protein design, have significantly accelerated the pace of protein engineering research and development. Moreover, the growing investments by pharmaceutical and biotechnology companies in protein engineering research further contribute to market growth.
In terms of regional analysis, North America is the fastest-growing and dominating region in the protein engineering market. This can be attributed to the presence of a well-established pharmaceutical and biotechnology industry and a strong focus on research and development activities in the region. Additionally, favorable government initiatives and funding for protein engineering research have further stimulated market growth in North America. The region is also home to several key players in the protein engineering market, which contributes to its dominant position.
Key players operating in the protein engineering market include Codexis Inc., Abzena, Ltd., Enantis s.r.o, GenScript Biotech Corp., Waters Corporation, PerkinElmer, Inc., Bruker Corporation, Agilent Technologies, Bio-Rad Laboratories Inc., and Thermo Fisher Scientific Inc., among others. These key players have a strong presence in the market and are actively engaged in research and development activities to introduce innovative protein engineering technologies and solutions. Their strategic collaborations, partnerships, and product launches play a significant role in driving market growth and maintaining their market position.
The global protein engineering market is estimated to grow from USD 2.2 billion in 2019 to USD 3.9 billion by 2024, at a CAGR of 12.4% during the forecast period.
Factors such as the increasing investments in synthetic biology and the growing focus on protein-based drug development by pharmaceutical and biotechnology companies are expected to drive the growth of this market in the coming years.Based on product & service, the protein engineering market is segmented into instruments, consumables, and software & services.
Instruments accounted for the largest share of this market in 2019 owing to the technological advancements in mass spectrometry and X-ray crystallography and their ability to integrate with other technologies.Monoclonal antibodies segment accounted for the largest share of the protein engineering market, by protein type, in 2019Based on protein type, the protein engineering market is segmented into monoclonal antibodies, insulin, erythropoietin, interferons, vaccines, colony-stimulating factors, growth hormones, coagulation factors, and other proteins.
Monoclonal antibodies accounted for the largest share of the protein engineering market in 2019, majorly due to the high and growing demand for monoclonal antibodies for the treatment of cancer, neurological diseases, and infectious diseases.Rational protein design was the largest technology segment in the protein engineering market in 2019Based on technology, the protein engineering market is segmented into rational and irrational protein design.
The rational protein design segment accounted for the largest share of the market, majorly due to the increasing use and continuous upgrades of bioinformatics platforms and software for protein analysis.
For More Information Download PDF Brochure @ https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=898The major companies operating in the protein engineering market include Thermo Fisher Scientific (US), Danaher Corporation (US), Agilent Technologies (US), and Bio-Rad Laboratories (US).Thermo Fisher Scientific (US) held the leading position in this market primarily due to its strong portfolio of protein engineering consumables, instruments, and services.
Protein Engineering Market Research Report, by Type (Instruments and Reagent), by Applications (Environment and Medical), by Methods (Rational Protein Design, Directed Evolution), by End-Users (Pharmaceutical and Bio-Technology) - Global Forecast To 2024Global Protein Engineering Market Insights 2020 provides a unique tool for evaluating the Market, highlighting opportunities, and supporting strategic and tactical decision-making.
This report recognizes that in this rapidly-evolving and competitive environment, up-to-date Marketing information is essential to monitor performance and make critical decisions for growth and profitability.
It provides information on trends and developments, and focuses on Markets and materials, capacities and technologies, and on the changing structure of the Serotonin Supplements Market.Some of the key players operating for the global market analysis are Agilent Technologies (U.S.), AB-Sciex (U.S.), Bio-Rad Laboratories, Inc. (U.S.), Bruker Corp. (U.S.), GE Healthcare (U.K.), Perkin Elmer (U.S.), Sigma-Aldrich Corp. (U.S.), Thermo Fisher Scientific (U.S.), and Waters Corp. (U.S).Protein Engineering Market Research Coverage:Changing market dynamics of the industryTo get a comprehensive overview of the Protein Engineering Market.Historical, current and projected market size in terms of volume and valueIn-depth market segmentationCompetitive landscapeThe report presents an all-inclusive database in a systematic and highly comprehensive manner.
It intends to offer valid, factual, reliable, and easily understandable information about the which makes it more eloquent.
Our analysis team applies a tried and tested primary and secondary research methodology to provide accurate and indubitable findings.The global protein engineering market is segmented to the basis of type, method, application, and end-users.On the basis of type, the market is segmented into instrument, reagents, and services and software.On the basis of method, the market is segmented into rational protein design and directed evolution.On the basis of application, the market is segmented into food and detergent industries, environment applications, medical applications, biopolymer production, and nanobiotechnology.On the basis of end-user, the market is segmented into academic research institutes, pharmaceuticals and biotechnology companies, and contract engineering organizations.Access Complete Detailed TOC Research Report at https://www.marketresearchfuture.com/reports/protein-engineering-market-691 This report focuses on the global Protein Engineering Market status, future forecast, growth opportunity, key market and key players.
The study objectives are to present the Protein Engineering Market development in United States, Europe and China.Market segment by Regions/Countries, this report coversUnited StatesEuropeChinaJapanSoutheast AsiaIndiaCentral & South AmericaAbout Market Research Future: MRFR team have supreme objective to provide the optimum quality market research and intelligence services to our clients.
