Protein Engineering Market Outlook 2031
The global protein engineering market size was USD 2.16 Billion in 2022 and is projected to reach USD 8.60 Billion by 2031, expanding at a CAGR of 16.6% during the forecast period, 2023–2031. The growth of the market is attributed to the rising acceptance of protein medicines over non-protein pharmaceuticals, growing need for alternatives to chemical processes, and rising government support for protein engineering.
It's a method for creating new proteins with specific characteristics, and it's exploded in popularity over the last three decades. Protein engineers have created a wide range of proteins suited to particular health, industrial, medicine, research, and biotechnology uses.
Proteins are a broad category of nitrogenous molecules with a high molecular weight that are required for living organisms and play a vital role in physiological processes.
They are made up of one or more chains of amino acids linked together by peptide bonds in a specific order to form the nucleotide base sequence in the DNA that codes for the protein. Due to the rapid advancement of biological research, numerous protein engineering technologies are now available.
Protein Engineering Market Trends, Drivers, Restraints, and Opportunities
- Increasing acceptance of protein medicines over non-protein pharmaceuticals is projected to fuel the market during the forecast period.
- Growing need for alternatives in chemical processes are key factors propelling the market in the coming years.
- High price of equipment and instruments used in protein engineering techniques are estimated to hamper the market growth.
- Lack of skilled labor act as major challenges that can restrict the market expansion in the coming years.
- R&D investment and technological advancement is anticipated to create lucrative opportunities for the market players.
Scope of Protein Engineering Market Report
The report on the protein engineering market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.
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Attributes
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Details
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Report Title
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Protein Engineering Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast
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Base Year
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2022
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Historic Data
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2016–2021
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Forecast Period
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2023–2031
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Segmentation
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Product Type (Insulin, Monoclonal Antibodies, Coagulation Factors, Vaccines, Growth Factors, and Others), Technology (Irrational Protein Design and Rational Protein Design), End-user (Pharmaceutical & Biotechnology Companies, Academic Institutions, and Contract Research Organizations)
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Geographical Scope
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Asia Pacific, North America, Latin America, Europe, and Middle East & Africa
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Report Coverage
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Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast
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Key Players Covered in the Report
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Eli Lily and Company; Agilent Technologies Inc.; Bio-Rad Laboratories; Amgen Inc.; and Bruker Corporation
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Protein Engineering Market Segment Insights
Product Type Segment Analysis
Based on product type, the protein engineering market is divided into insulin, monoclonal antibodies, coagulation factors, vaccines, growth factors, and others. The monoclonal antibodies segment is expected to represent a key share of the market during the forecast period.
Due to their widespread use in a variety of treatments, such as cancer and autoimmune disorders, monoclonal antibodies are expected to have the major market share during the forecast period. The use of monoclonal bodies for disease therapy has grown dramatically as the frequency of cancer and other autoimmune disorders has increased.
They are useful in the domains of therapies, diagnostics, and targeted drug delivery systems for infectious illnesses caused by viruses, bacteria, and protozoa, as well as metabolic and hormonal problems.
Technology Segment Analysis
On the basis of technology, the protein engineering market is bifurcated into irrational protein design and rational protein design. The rational protein segment is expected to represent a key share of the market during the forecast period.
Growth of the market is attributed to widespread use of this technique in antibody and enzyme engineering. Because of the remarkable growth in commercial applications and enzyme engineering, improved and modified enzymes with desired catalytic characteristics have emerged.
Furthermore, as a result of the advancement of modelling tools and the fast increasing amount of 3Dstructures in databases, it is expected to fuel the market. One of the most common applications of rational design is protein remodelling, which accounts for a significant portion of the rational design market.
End-user Segment Analysis
In terms of end-user, the protein engineering market is divided into pharmaceutical & biotechnology companies, academic institutions, and contract research organizations. The pharmaceutical & biotechnology companies segment is expected to represent a key share of the market during the forecast period.
In 2016, pharmaceutical and biotechnology businesses dominated the end-use category. Silicon models to create novel protein-based medicines for cancer, diabetes, and central nervous system disorders accounts for a significant share of the market.
One of the main reasons contributing to the segment's growth is the rising trend among public and private healthcare institutions to promote advanced engineering in order to improve patient outcomes.
Moreover, supportive groups provide money to large pharmaceutical and biotechnology firms to help them create next-generation medicines, resulting in increased use of engineering techniques by these corporations. The aforementioned causes are expected to be accountable for the segment's overwhelming market dominance.
Regional Outlook
On the basis of geography, the protein engineering market is classified as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. Asia-Pacific is anticipated to dominate the market during the forecast period.
Due to the growing presence of contract research companies, increased healthcare IT expenditure, and remarkable development of healthcare infrastructure and standards throughout the region, Asia-Pacific is anticipated to grow at high CAGR during the forecast period.
Segments
The protein engineering market has been segmented on the basis of
Product Type
- Insulin
- Monoclonal Antibodies
- Coagulation Factors
- Vaccines
- Growth Factors
- Others
Technology
- Irrational Protein Design
- Rational Protein Design
End-user
- Pharmaceutical & Biotechnology Companies
- Academic Institutions
- Contract Research Organizations
Geography
- Asia Pacific
- North America
- Latin America
- Europe
- Middle East & Africa
Key Players
Competitive Landscape
Key players competing in the protein engineering market include Eli Lily and Company, Agilent Technologies Inc., Bio-Rad Laboratories, Amgen Inc., and Bruker Corporation.
Some of these players are using several market strategies such as mergers, acquisitions, partnerships, collaborations, capacity expansion, and product launches to increase their market shares.
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