PUBLISHER: IMARC | PRODUCT CODE: 1519472
PUBLISHER: IMARC | PRODUCT CODE: 1519472
The global protein engineering market size reached US$ 3.3 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 7.8 Billion by 2032, exhibiting a growth rate (CAGR) of 9.9% during 2024-2032.
Protein engineering refers to the process of developing or changing a protein sequence to achieve the desired result. It involves the synthesis of new proteins or amendments in the existing structure or sequence and employs recombinant deoxyribonucleic acid (DNA) technology to alter amino acid sequences for novel and enhanced functions. It is widely utilized for the production of enzymes or proteins in large quantities for use in industrial settings. In recent years, researchers have successfully engineered a wide range of proteins tailored to medicine, research, industry, health, and biotechnology applications, which is escalating their demand across the globe.
The rising investments in synthetic biology and the improving focus toward protein-based drug development represent the primary factors driving the market growth. Additionally, there has been a significant shift toward protein therapeutics from non-protein drugs due to their associated positive clinical outcomes. This, in confluence with the widespread prevalence of protein-deficient diseases, is increasing the demand for protein engineering. Furthermore, several favorable initiatives undertaken by the government of various countries, such as increased funding for research and development (R&D) activities in the field of protein engineering, are propelling the market growth. Besides this, the advent of recombinant monoclonal antibodies (mAbs) and the increasing usage of monoclonal antibodies to treat various diseases, such as cancer and autoimmune diseases, are accelerating product adoption rates. Moreover, the ongoing research for applications of protein engineering in the agrochemical industry to generate enzymes with enhanced function to increase the crop yield or facilitate biofuel production is catalyzing the market growth. Other factors, including the escalating demand for personalized medicines, growing need for biosimilars and biologics, improving healthcare infrastructure, technological advancements, and product innovations, are also creating a positive outlook for the market.
IMARC Group provides an analysis of the key trends in each sub-segment of the global protein engineering market report, along with forecasts at the global, regional and country level from 2024-2032. Our report has categorized the market based on product & services, protein type, technology and end user.
Instruments
Reagents
Services and Software
Insulin
Monoclonal Antibodies
Coagulation Factors
Vaccines
Growth Factors
Others
Irrational Protein Design
Rational Protein Design
Pharmaceutical and Biotechnology Companies
Academic Research Institutes
Contract Research Organizations
North America
United States
Canada
Asia-Pacific
China
Japan
India
South Korea
Australia
Indonesia
Others
Europe
Germany
France
United Kingdom
Italy
Spain
Russia
Others
Latin America
Brazil
Mexico
Others
Middle East and Africa
The competitive landscape of the industry has also been examined along with the profiles of the key players being Abzena Ltd., Agilent Technologies Inc., Amgen Inc., Bio-Rad Laboratories Inc., Bruker Corporation, Codexis Inc., Danaher Corporation, Eli Lilly and Company, General Electric Company, Merck KGaA, Novo Nordisk A/S, PerkinElmer Inc., Thermo Fisher Scientific Inc. and Waters Corporation.