New York, USA, June 17, 2022 (GLOBE NEWSWIRE) -- Protein Engineering Market Overview
According to a Comprehensive Research Report by Market Research Future (MRFR), “Protein Engineering Market Information by Type, Application, Method, End User - Forecast till 2027”, the market is expected to cross USD 3.02 billion by 2027 at a CAGR of 7.62%.
Market Scope:
Protein engineering is the process of creating functionally valuable proteins or enzymes. It is based on the use of recombinant DNA technology to alter the sequence of amino acids. It is used to manufacture huge quantities of enzyme, for the creation of biological substances, and to create a superior enzyme to catalyze the production of certain high-value chemicals. Due to the rapid advancement of biological research, numerous protein engineering techniques exist today.
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Report Scope:
| Report Attribute | Details |
| Market Size | USD 3.02 billion |
| CAGR | 7.62% |
| Base Year | 2021 |
| Forecast Period | 2022-2030 |
| Historical Data | 2020 |
| Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | By Type, Application, Method, End User |
| Geographies Covered | North America, Europe, Asia-Pacific, and Rest of the World (RoW) |
| Key Market Drivers | Increasing prevalence of chronic diseases |
| Growing investments in synthetic biology |
Protein Engineering Market Competitive Dynamics:
During the projection period, competition on the protein engineering market will increase. The introduction of new protein engineering firms has increased competitiveness. In addition, product diversity and technical development will be substantial in this industry. Market leaders are allocating more capital to the market.
The key player of the protein engineering market is
- ProteoGenix
- Bio-Rad Laboratories
- PhyNexus, Inc
- Thermo Fisher Scientific
- Broker Corporation
- Zymeworks, Inc
- Waters Corporation
- Aspira Chemical
- Danaher Corporation
- InvivoGen
- New England Biolabs
- Enantis S.R.O
- New England Biolabs
- Promega Corporation
- New England Biolabs
Protein Engineering Market Dynamics:
Market Drivers:
The market for protein engineering is growing in popularity as the use of non-protein therapeutics declines. In the medical field, protein medicines have had favorable results. In many regions, the demand for protein engineering is growing as a result. Protein engineering has vast potential since it can lessen the toxicity of medicinal medications. Also, the drug's efficiency and effectiveness are excellent. In general, the predominance of protein engineering increases cardiac repair. Utilization of the protein engineering technology is resulting in increased medical benefits.
Protein engineering makes possible the therapy of cancer, autoimmune disease, and transplant rejection. In addition, the well-engineered protein delivery systems in pharmaceuticals produce remarkable results and delivery. Increasing health sector research and development expenditures are the primary cause of the increased demand. Additionally, increased marketing and commercialization of the pharmaceuticals contribute to the increased demand. In the approaching years, there will be hybrid protein engineering technologies and applications. The biotechnology pharmaceutical company owns the largest market share for proteins. Increased usage of silicon model proteins in this industry has a favorable effect on the protein engineering market. It will result in the expansion of the market as a whole.
Market Limitations:
In the protein engineering sector, costly equipment is utilized. Medical and pharmaceutical equipment is costly. In addition, the need for proper maintenance raises the market's total expenditures. The high expense of instrument maintenance for protein modification is a significant constraint.
Consumables, software, and services are key components of the instruments. In the next years, the rising cost of maintaining this equipment may hinder the expansion of the protein engineering business. The market revenue is affected by the mass price of spectroscopic and crystallography instruments. Increased spending on instruments and maintenance will decrease market revenue rates.
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COVID-19 Analysis:
The covid 19 has a significant impact on international industries. Numerous firms are combating this issue for health and economic reasons. The pharmaceutical industry faces numerous difficulties as a result of the economic downturn. However, the majority of markets are in the recovery phase.
During this time, the protein engineering market has faced minimal obstacles. There are many challenges involved in conducting market activities. Additionally, a drop in demand is an additional demand issue. Fewer equipment and resources are need for protein engineering. In addition, the expansion of the market as a whole is hindered during this period. All of these factors lead to the market decline in protein engineering. As the virus spreads less, market operations are gradually returning. In the approaching years, the rate of demand is anticipated to increase rapidly.
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Protein Engineering Market Segmentation:
By Type
Due to technological advances and the high cost of mass spectroscopy and crystallography tools, instruments were the largest product sector in this market.
By Application
The medical sector is anticipated to experience the greatest increase over the forecast period. Medical sector technical advances are the key factor driving the protein engineering market.
By Method
The technological area was dominated by rational design, which held a large market share. The lion's share is due to the widespread application of this technology in antibody and enzyme engineering. The remarkable rise of commercial applications and enzyme engineering has produced enzymes with desirable catalytic characteristics that are increased and modified.
By End-user
In 2019, the biotechnology and pharmaceutical firms category held the greatest market share. This is because protein engineering products are frequently employed by biopharmaceutical companies for drug discovery and development, as they aid in the design of models for the production of a wide variety of protein-based medications.
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Protein Engineering Market Regional Analysis:
During the projection period, North America will dominate the protein engineering market. These locations have an exceptional demand for therapeutic protein-engineered pharmaceuticals. In this location, the potential for protein engineering is substantial. Increasing expenditures on research and development are the primary reason for North America's strong demand. In this region, the most advanced protein engineering techniques are available. In this region, drug development and procedures are improving rapidly. All of these factors contribute to the most rapid expansion of the market for protein engineering in North America. Moreover, increased investment is the primary driver of the high demand. The rate of market expansion will be higher in North America. The growing practice of protein engineering in rations is increasing demand. In addition, monoclonal antibody synthesis is abundant in these places.
In addition, the Asia-Pacific market is expected to rise fast over the projection period. The rapid expansion is owing to increased awareness of protein engineering. The advancement of genetics is the primary market driver. Moreover, the development of proteomics is accelerating in this region. Greater government initiatives exist for the pharma market. The subsidies support increased protein engineering cultivation.
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Market Research Future (MRFR) is a global market research company that takes pride in its services, offering a complete and accurate analysis with regard to diverse markets and consumers worldwide. Market Research Future has the distinguished objective of providing the optimal quality research and granular research to clients. Our market research studies by products, services, technologies, applications, end users, and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help answer your most important questions.
