Market Research Future (MRFR) has published a cooked research report onthe “Global Protein Engineering Market” that contains the information from 2022 to 2030.
The Protein Engineering Market is expected to reach USD 2,790.87 million by 2030 at 11.80% CAGR during the forecast period 2022-2030.
MRFR recognizes the following companies as the key players in the global protein engineering market—Thermo Fisher Scientific (US), Bio-Rad Laboratories, Inc. (US),GenScript (US), Agilent Technologies, Inc. (US), PerkinElmer, Inc. (US), Bruker Corporation (US),Waters Corporation (US), Merck KGaA (Germany), Promega Corporation (US), and Danaher Corporation (US).
The global protein engineering market is expected to register a CAGR of 11.80% during the forecast period and is expected to hit USD 2,790.87 million by 2030.
Protein engineering is creating and manufacturing non-natural polypeptides, often by modifying naturally occurring amino acid sequences. Synthetic proteins' structures and functions can now be generated entirely on a computer or created in the lab through directed evolution.
The growth of the global protein engineering market is attributed to the increasing prevalence of chronic diseases and rising investments in synthetic biology. However, the lack of trained professionals in the market may hamper the market growth. Furthermore, the emerging markets of protein engineering pose viable opportunities for market expansion in the future.
Browse In-depth Market Details [Table of Content, List of Figures, List of Tables] of Protein Engineering Market Research Report
The global protein engineering market has been divided based on type, application, method, and end user.
The market, based on type, has been segregated into instruments, reagents, and services & software.The reagents segment dominated the market in 2020, and the services & software segment was projected to be the fastest-growing segment.Novel protein design algorithms, advancements in structural bioinformatics and molecular force fields, and the availability of immense information regarding 3D protein structure are used in computational approaches for protein engineering.
Based on application,the protein engineering markethas been divided intofood & detergent industries, environmental, medical, biopolymer production, and nanobiotechnology. The medical segment dominated the market in 2020 owing to an increasing number of biopharmaceutical companies engaged in the R&D of target drug candidates, while the biopolymer production segment is projected to record the highest growth rate.
Based on method, the protein engineering market is bifurcated into rational protein design and directed evolution. The rational protein design segment dominated the market in 2020 due to a large number of companies focused on the production of new protein molecules; directed evolution is projected to be the fastest-growing segment.
On the basis of end user, the protein engineering market is segmented into pharmaceuticals & biotechnology companies, contract engineering organizations, and academic research institutes. The pharmaceuticals & biotechnology companies segment dominated the market in 2020due to growing R&D expenditure, while contract engineering organizations areprojected to be the fastest-growing segment during the forecast period.
The global protein engineering market, based on region, has been divided into the Americas, Europe, Asia-Pacific, and the Middle East & Africa. The Americas accounted for the largest market share in 2020 and is anticipated to dominate the global protein engineering market during the forecast period. However, Asia-Pacific is projected to register the highest CAGR during the forecast period.
The Americasis expected to dominate with the largest market share due to a well-developed healthcare sector, an increase in biotechnology and pharmaceutical companies, increased R&D capabilities, and the presence of leading players.The Americas consist of North America and Latin America.The market in North America has been divided into the US and Canada. The US accounts for the largest market share in the North American protein engineering market. In the US, the availability of technologically advanced devices & instruments and the concentration of the major market players are the drivers for the protein engineering market in the region.Increased R&D funding in Canada is fueling the growth of the protein engineering market.The growing pharmaceutical industry in South America is a key driving factor for the protein engineering market in the region. Brazil accounts for the largest market share in the region. The high prevalence of lifestyle diseases and increased government support for R&D are further driving the market growth. According to Statista, in 2019, Brazil had the highest pharmaceutical market value in South America, reflecting the rapid growth of the pharmaceutical industry in this region.
Europe has also evolved as a prominent market for protein engineering with the growth of the R&D sector in major countries such as Germany, the UK, France, Italy, and Spain, as well as increasing demand for protein engineering methods and technologies.The Asia-Pacific region represents lucrative opportunities for players operating in the protein engineering market, attributed to the growing prevalence of chronic diseases such as heart diseases and diabetes, increasing healthcare IT spending, and the increasing presence of contract research organizations. Numerous new and innovative approaches are being used for the treatment of heart diseases. Protein engineering has the potential to improve the effectiveness of molecules for cardiac repair specifically. Protein therapeutics are increasingly used for inflammatory and cancer diseases.
Improvement in healthcare infrastructure and increased demand for new drugs and devices for diagnosis and treatment of diseases are the key drivers for the Middle East & Africa's protein engineering market. Countries in the Middle East and North Africa, such as Algeria, Egypt, and Iraq, have made substantial improvements in developing their health care systems. The number of hospitals and diagnostic centers is increasing in the region; this creates a demand for new drugs and devices for the diagnosis and treatment of diseases.
Key Findings of the Study