Pune, Jan. 18, 2024 (GLOBE NEWSWIRE) -- The Protein Engineering Market, as per the SNS Insider report, was valued at approximately USD 2.2 billion in 2022 and is projected to achieve a CAGR of 16.7% during the forecast period from 2023 to 2030, reaching an estimated size of USD 7.5 billion by 2030.
Market Overview
Protein engineering, a cutting-edge discipline at the intersection of biology and technology, has emerged as a pivotal field in modern scientific research. Protein engineering encompasses techniques that enable scientists to modify the amino acid sequence of proteins, thereby altering their properties. This process can result in the optimization of existing proteins for specific functions or the design of entirely new proteins with tailored functionalities. The key objectives include improving stability, increasing catalytic activity, and enhancing specificity.
Market Analysis
The increasing prevalence of chronic diseases and the demand for more effective and targeted therapies have fueled the growth of biopharmaceuticals. Protein engineering plays a pivotal role in the development of these drugs, driving the market forward. Continuous advancements in protein engineering technologies, such as CRISPR-Cas9 and high-throughput screening methods, have expanded the possibilities in designing and modifying proteins. These technological breakthroughs attract investments and drive protein engineering market growth. The expanding biotechnology and life sciences sector, coupled with increasing research and development activities, provides a fertile ground for the market. Companies and research institutions are investing in protein engineering to harness its potential across diverse applications. The paradigm shift towards personalized medicine, where treatments are tailored to individual patients, has created a demand for customized therapeutic proteins. Protein engineering facilitates the development of personalized therapies, contributing to market growth.
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Key Players Listed in this Report are:
- Agilent Technologies
- Bruker Cor.
- Thermo Fisher Scientific, Inc.,
- PerkinElmer, Inc.
- Waters Corp.
- Insightful Science
- Bio-Rad Laboratories
- Merck KGaA
- Danaher Corp.
- Genscript Biotech Corp.
- Amgen, Inc. & Other Players
Protein Engineering Market Report Scope:
| Report Attributes | Details |
| Market Size in 2022 | US$ 2.2 Billion |
| Market Size by 2030 | US$ 7.5 Billion |
| CAGR | CAGR of 16.7% From 2023 to 2030 |
| Base Year | 2022 |
| Forecast Period | 2023-2030 |
| Historical Data | 2019-2021 |
| Key Regions/Country | North America (US, Canada, Mexico), Europe (Eastern Europe [Poland, Romania, Hungary, Turkey, Rest of Eastern Europe] Western Europe] Germany, France, UK, Italy, Spain, Netherlands, Switzerland, Austria, Rest of Western Europe]), Asia Pacific (China, India, Japan, South Korea, Vietnam, Singapore, Australia, Rest of Asia Pacific), Middle East & Africa (Middle East [UAE, Egypt, Saudi Arabia, Qatar, Rest of Middle East], Africa [Nigeria, South Africa, Rest of Africa], Latin America (Brazil, Argentina, Colombia Rest of Latin America) |
Key Influencing Factors of Protein Engineering Market:
- Technological Marvels: The constant evolution of protein engineering techniques, from the prowess of CRISPR-Cas9 to the finesse of directed evolution, is not just pushing boundaries but unlocking entirely new frontiers in crafting innovative proteins.
- Biopharmaceutical Boom: The surge in demand for biopharmaceuticals, spanning monoclonal antibodies to vaccines, is fueling a quest for customized proteins. This surge is in turn propelling the protein engineering market to new heights.
- Battle Against Chronic Ailments: The prevalence of chronic diseases is a driving force, compelling researchers to engineer proteins with heightened efficacy and fewer side effects, creating a substantial demand for protein engineering solutions.
- Personalizing Medicine: With the rise of personalized medicine, there's a growing need for proteins tailored to individual patient requirements. Protein engineering steps in as the linchpin to design these personalized therapeutic proteins.
- Drug Development in the Fast Lane: Protein engineering is a catalyst in the swift process of drug discovery and development. By facilitating the design of proteins specific to targets, it minimizes trial and error, expediting the journey from concept to market.
- Diversifying Beyond Healthcare: Protein engineering isn't confined to pharmaceuticals; its influence extends to industrial biotech, agriculture, and materials science, showcasing its versatility across varied sectors.
- Fueling Research Endeavors: Robust investments in research and development, particularly in protein engineering technologies, are the driving force behind continuous advancements, marking an era of constant innovation.
- Collaboration Catalyst: Collaborations between academia, research bodies, and industry players are fostering an environment of shared knowledge. This collaborative spirit is propelling collective efforts to redefine the capabilities of protein engineering.
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Key Takeaway from Protein Engineering Market Study
- In the instruments segment, a surge in demand for sophisticated tools and equipment used in protein engineering processes is observed. Researchers and biotechnologists are seeking cutting-edge instruments that enable precise manipulation of proteins, driving the need for state-of-the-art technologies.
- The insulin segment is emerging as a key player in the protein engineering market. The rising prevalence of diabetes globally has prompted intensified research efforts to enhance insulin formulations and delivery mechanisms. Protein engineering plays a pivotal role in this context, allowing scientists to optimize insulin molecules for improved efficacy and reduced side effects.
Recent Developments
- Scala Biodesign has successfully raised $5.5 million in funding to further its endeavors in the development of bioproducts derived from proteins. The company, founded with a vision to revolutionize biotechnology, aims to harness the potential of proteins for a wide range of applications, from pharmaceuticals to environmentally friendly materials.
- Cradle has successfully secured a formidable $24 million in funding to expand its efforts in Generative AI for protein design and engineering. The $24 million infusion of capital will serve as a catalyst for Cradle's ambitious expansion plans, including scaling up its research and development efforts and attracting top-tier talent in the field.
Market Dynamics Analysis
The protein engineering market has witnessed dynamic shifts in recent years, propelled by a confluence of drivers that have fueled advancements in biotechnology and pharmaceutical research. One of the primary drivers is the growing demand for novel therapeutic proteins with enhanced efficacy and reduced side effects. As the understanding of protein structures and functions deepens, researchers and pharmaceutical companies are increasingly leveraging protein engineering techniques to design and produce proteins tailored to specific therapeutic applications. The rise in chronic diseases and the need for targeted therapies have further accelerated the demand for customized proteins, driving market growth. However, this surge in demand is not without its challenges and restraints. The complexity and intricacy of protein structures pose a significant challenge in the engineering process. Achieving the desired biological activity while maintaining the structural integrity of the protein remains a formidable task.
Protein Engineering Market Segments:
By Product
- Instruments
- Reagents
- Software & Services
By Technology
- Rational Protein Design
- Directed Evolution
- Hybrid Approach
- De Novo Protein Design
- Others
By Protein Type
- Insulin
- Monoclonal Antibodies
- Vaccines
- Growth Factors
- Colony Stimulating Factors
- Coagulation Factors
- Interferon
- Others
By End User
- Academic Research Institutes
- Contract Research Organizations
- Pharmaceutical & Biotechnology Companies
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Key Regional Developments of Protein Engineering Market
The North American region stands as a significant player in the protein engineering market. Factors such as robust research and development infrastructure, a high level of investment in biotechnology, and the presence of key market players contribute to the region's prominence. Europe has emerged as a key hub for protein engineering, with a strong emphasis on biopharmaceutical research and development. The region's commitment to technological innovation, coupled with increasing collaborations between academic institutions and industry players, fosters a conducive environment for market growth. The Asia-Pacific region is witnessing a significant surge in protein engineering activities, driven by the increasing prevalence of chronic diseases, rising healthcare investments, and a burgeoning biotechnology sector.
Impact of Recession
With budgetary constraints, research and development timelines may be extended. Delays in projects can hinder the introduction of novel protein engineering technologies and products into the protein engineering market. This, in turn, may impact the industry's overall competitiveness and ability to address emerging healthcare needs. While certain sectors may experience setbacks, the demand for therapeutic proteins, especially in the pharmaceutical industry, may see a surge. The recession has underscored the importance of healthcare, and companies focusing on protein engineering for therapeutic purposes may find a growing market for their products.
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