Richmond, Jan. 09, 2024 (GLOBE NEWSWIRE) -- According to a research report "Protein Engineering Market”, By Product & Service (Instruments, Consumables, Software & Services) Protein Type (Insulin, Monoclonal Antibodies, Coagulation Factors (Blood Factors + Tissue Plasminogen), Vaccines, Growth Factors (Hormones + Cytokine), Others), Technology (Irrational Protein Design, Rational Protein Design), End User (Pharmaceutical and Biotechnology Companies, Academic Institutions, Contract Research Organizations (CROs)) and Region
Global Protein Engineering Market Report Scope:
| Report | Details |
| Market size value in 2023 | USD 2.49 Billion |
| Market size value in 2030 | USD 6.35 Billion |
| CAGR (2023-2030) | 14.3% |
| Forecast Period | 2023–2030 |
| Historic Data | 2019 |
| Forecast Units | Value (USD Million/USD Billion) |
| Segments Covered | Product & Service, Protein Type, End User and Region |
| Geographies Covered | North America, Europe, Asia Pacific, and RoW |
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| Sample of Companies Covered |
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TOC Covers in Depth & Breath on Protein Engineering Market
170 - Market Data Tables
65 - List of Figures
225 – Pages
The report includes Vendor Assessment (Company Profiles, Market Positioning, Strategies, Recent Developments, Capabilities & Product Offerings / Mapping), Technology Assessment (Developments & Economic Impact), Partner & Customer Ecosystem (Product Services, Proposition & Key Features) Competitive Index & Regional FootPrint by MarketDigits.
Market Overview
The Protein Engineering Market is experiencing robust growth driven by the escalating demand for innovative solutions in healthcare and biotechnology. With an increasing focus on addressing diseases related to protein deficiencies and advancing therapeutic interventions, protein engineering has emerged as a pivotal field. The market is characterized by a surge in research and development activities, fueled by rising government funding and a growing understanding of the importance of proteins in various physiological processes. Key players in the market are actively engaged in developing novel protein engineering technologies, ranging from computational methods to advanced molecular techniques. This dynamic landscape, coupled with the integration of cutting-edge technologies, is propelling the Protein Engineering Market forward, presenting lucrative opportunities for stakeholders and contributing to the evolution of healthcare solutions.
Major vendors in the global Protein Engineering Market
- Agilent Technologies
- Bruker Corporation
- Thermo Fisher Scientific, Inc.
- PerkinElmer, Inc.
- Waters Corporation
- Bio-Rad Laboratories
- Merck KGaA
- Danaher Corporation
- GenScript Biotech Corp.
- Amgen, Inc.
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The incidence of diseases caused by protein deficiency is on the rise.
The escalating prevalence of diseases attributed to protein deficiency serves as a key catalyst propelling the growth of the Protein Engineering Market. As a critical component for maintaining overall health and functionality within the human body, proteins play a pivotal role in various physiological processes. The surge in diseases linked to inadequate protein intake underscores the pressing need for innovative solutions, driving the demand for protein engineering technologies. Researchers and healthcare professionals are increasingly focusing on developing engineered proteins to address deficiencies, enhance therapeutic interventions, and advance the overall landscape of healthcare. This trend is expected to contribute significantly to the expansion of the Protein Engineering Market as it seeks to meet the rising challenges posed by protein-related health issues.
Market Dynamics
Drivers:
- Growing interest in alternatives to chemical processes is driving increased demand.
- Growing preference for protein drugs is observed in comparison to non-protein drugs
- Increasing government support for protein engineering is evident
Opportunities:
- Rising Demand for Protein-Based Therapeutics
- Advancements in Technology and Design
- Increase in demand from agrochemical industry
Democratization of Protein Engineering
The democratization of protein engineering stands out as a notable trend in the Protein Engineering Market, signifying a shift towards increased accessibility and inclusivity in the field. This trend is characterized by a growing emphasis on making protein engineering tools, technologies, and knowledge more widely available to a diverse range of researchers, scientists, and professionals. Advancements in computational tools, open-source platforms, and collaborative initiatives have played a pivotal role in breaking down barriers to entry, allowing a broader community to participate in protein engineering endeavors. This democratization not only fosters innovation by bringing fresh perspectives to the field but also accelerates the pace of discovery and development, ultimately contributing to a more vibrant and dynamic Protein Engineering Market. As a result, the trend towards democratization is shaping the industry landscape, fostering a collaborative ecosystem that holds the potential to unlock novel applications and solutions in various sectors.
North America dominates the market for Protein Engineering Market.
North America is dominated a significant market share in the protein engineering sector, driven by factors such as the increasing prevalence of chronic diseases, favorable government policies, substantial healthcare expenditures, and a growing preference for protein drugs over non-protein counterparts. The region's rising aging population is also a contributing factor to the expanding market for protein-based drugs. The surge in chronic diseases, exemplified by statistics from the American Diabetes Association, which reported nearly 1.9 million Americans, including around 244,000 children and teenagers, diagnosed with type 1 diabetes in 2019, underscores the escalating demand for insulin and protein-engineered artificial insulin, thus fueling market growth.
Additionally, the high incidence and mortality rates of cancer, as highlighted by GLOBOCAN 2020, are driving the need for effective treatments, consequently increasing the demand for protein drugs and therapies. Furthermore, the presence of key market players in the region, their focus on developing protein engineering drugs and vaccines, coupled with continuous product approvals and launches, exemplified by recent initiatives such as Generate Biomedicines' substantial funding in November 2021 and MacroGenics Inc.'s FDA approval for MARGENZA in December 2020, are poised to enhance treatment options and further propel market expansion.
Platform solution Segments is anticipated to hold the Largest Market Share during the Forecast Period
Based on the Protein Type segment categorized into Insulin, Monoclonal Antibodies, Coagulation Factors (Blood Factors + Tissue Plasminogen), Vaccines, Growth Factors (Hormones + Cytokine) and others. Monoclonal antibodies are poised to dominate the market share in the foreseeable future, driven by their widespread adoption in various therapies, notably for cancer and autoimmune diseases. The escalating prevalence of cancer and autoimmune conditions has significantly bolstered the utilization of monoclonal antibodies in disease treatment. As highlighted by statistics from the American Cancer Society, an estimated 287,850 new cases of invasive breast cancer are projected to be diagnosed in women in the United States in 2022. Additionally, approximately 51,400 new cases of ductal carcinoma in situ are expected in the same period. This surge in breast cancer cases underscores the growing demand for enhanced treatment options, consequently fuelling market growth. Similarly, the Atlas of Multiple Sclerosis Report released in September 2020 revealed that over 2.8 million people worldwide, including approximately 1 million in the United States in 2020, are living with multiple sclerosis. The rising incidences of multiple sclerosis are anticipated to drive demand for protein-engineered drugs and treatments, contributing to market expansion. Furthermore, increased corporate efforts in developing protein-engineered drugs for various diseases are expected to boost the demand for protein-based therapeutics. A notable example is Zydus Cadila's May 2021 launch of Trastuzumab Emtansine, the first Antibody Drug Conjugate biosimilar named Ujvira, designed for treating both early and advanced HER2-positive breast cancer.
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