PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1532780
PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1532780
Protein Engineering Market size was valued at USD 3,190.32 Million in 2023, expanding at a CAGR of 16.90% from 2024 to 2032.
Protein engineering involves the deliberate modification of amino acid sequences to create novel or improved proteins. Techniques such as directed evolution and rational design are employed to alter these building blocks, enhancing specific qualities like stability, activity, or affinity for particular targets. Engineered proteins have diverse applications in medicine, such as therapeutic enzymes and antibodies, as well as in industry for efficient biocatalysis, agriculture for developing pest-resistant crops, and materials science for creating innovative protein-based materials. This transformative field holds promise for advancing healthcare, fostering sustainable industries, and catalyzing the development of novel materials, envisioning a future with improved healthcare solutions, environmentally friendly industries, and cutting-edge materials.
Protein Engineering Market- Market Dynamics
Increasing demand for targeted therapies in treating cancer to propel market demand
The market's expansion can be attributed to the heightened focus from the biotechnology and pharmaceutical industries on advancing protein-based therapies, which offer advantages over non-protein drugs such as improved cost-effectiveness and patient outcomes. Additionally, the rising demand for targeted therapies in treating cancer and autoimmune diseases is accelerating the adoption of protein engineering techniques. The COVID-19 pandemic has further catalyzed market growth, driven by applications of protein engineering in developing vaccines and diagnostics. Government initiatives aimed at enhancing protein engineering capabilities are also bolstering market prospects, evident in increased research activities, funding allocations, and R&D investments. For example, Nabla Bio's recent USD 11 million seed fundraising round in December 2021 underscores industry momentum, supporting the development of AI-driven platforms for next-generation antibody therapeutics. In January 2022, Generate Biomedicines and Amgen announced a research partnership aimed at developing protein therapies targeting five clinical targets. The demand for protein engineering continues to rise due to the growing prevalence of chronic and lifestyle-related disorders like diabetes and cardiovascular conditions. Additionally, factors such as the growing incidence of protein deficiency disorders, particularly Protein-Energy Malnutrition (PEM) in low-income countries worldwide, are expected to contribute significantly to market revenue growth. With increasing investments from both private and public sectors in synthetic biology and advancements in personalized therapy engineering, the industry is poised for substantial growth in the coming years.
Protein Engineering Market- Key Insights
As per the analysis shared by our research analyst, the global market is estimated to grow annually at a CAGR of around 16.90% over the forecast period (2024-2032)
Based on Product Type segmentation, Instruments was predicted to show maximum market share in the year 2023
Based on Application segmentation, Rational Protein Design was the leading type in 2023
On the basis of region, North America was the leading revenue generator in 2023
The Global Protein Engineering Market is segmented on the basis of Product Type, Protein Type, Application, End Use, and Region.
The market is divided into three categories based on Product Type: Instruments, Reagents and Software & Services. The instruments segment dominated the market in 2023, capturing the largest revenue share of total product revenue and is poised to grow at the fastest CAGR over the forecast period. Companies are increasingly adopting automated technologies to accelerate molecular development processes, driving segment growth.
The market is divided into five categories based on Application: Rational Protein Design, Directed Evolution, Hybrid Approach, De Novo Protein Design and Others. In 2023, the rational protein design segment led the industry with the largest revenue share. This dominance stems from the widespread application of rational design in enzyme engineering and antibody development. Commercial applications have led to the creation of enhanced enzymes with desired catalytic properties, leveraging techniques like site-directed mutagenesis to drive market penetration and segment growth.
Protein Engineering Market- Geographical Insights
This market transcends geographical boundaries, with a presence in North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa. Nations within these regions create further market distinctions. North America dominated the protein engineering market in 2023, commanding the largest share of global revenue. The region is expected to maintain its leadership position, driven by increasing collaborations among key players to bolster R&D capabilities. For instance, the partnership between Selecta Biosciences, Inc. and Cyrus Biotechnology, Inc. focused on integrating Selecta's ImmTOR platform with Cyrus' protein redesign expertise to develop a novel IL-2 agonist for autoimmune disorder treatments.
Companies in the protein engineering market adopt various strategies to enhance their positions, including partnerships, collaborations, and acquisitions. These strategic alliances enable them to leverage complementary capabilities, share expertise, and accelerate research and development efforts. Partnerships with academic institutions and research organizations facilitate access to cutting-edge technologies and scientific expertise, fostering innovation in protein design and development. Furthermore, collaborations with pharmaceutical companies help in advancing protein-based therapies for various diseases, thereby expanding market reach and commercial opportunities.
In January 2024, Agilent Technologies Inc. introduced a novel automated parallel capillary electrophoresis system designed for protein analysis.
GLOBAL PROTEIN ENGINEERING MARKET KEY PLAYERS- DETAILED COMPETITIVE INSIGHTS
Agilent Technologies
Bruker Cor.
Thermo Fisher Scientific, Inc.
PerkinElmer, Inc.
Waters Corp.
Bio-Rad Laboratories
Merck KGaA
Danaher Corp.
Genscript Biotech Corp.
Amgen
Others