Houston, TX, Sept. 18, 2023 (GLOBE NEWSWIRE) -- The Brainy Insights estimates that the USD 3.71 Billion in 2022 protein engineering market will reach USD 16.72 Billion by 2032. Pharmaceutical and biotechnology companies have increased their attention on research and development of protein-based therapeutics due to their benefits over non-protein pharmaceuticals, such as higher cost-effectiveness and improved patient outcomes. These benefits are among other elements influencing market expansion. Similarly, a surge in the need for personalized medications for treating autoimmune diseases and cancer is driving the use of protein engineering.
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Report Coverage Details
| Report Coverage | Details |
| Forecast Period | 2023-2032 |
| Base Year | 2022 |
| Market Size in 2022 | USD 3.71 Billion |
| Market Size in 2032 | USD 16.72 Billion |
| CAGR | 16.25% |
| No. of Pages in Report | 239 |
| Segments Covered | Product, Technology, Protein Type |
| Drivers | Rising need for treatments and medications based on proteins |
| Opportunities | Technological advances in synthetic biology and gene editing |
| Restraints | High development costs |
Key Insight of the Protein Engineering Market
Asia-Pacific is anticipated to expand at the highest CAGR of 18.44% over the projection period.
Asia-Pacific is expected to grow at the highest CAGR of 18.44% over the forecast period. It's because developing Asian nations in this region have high cardiovascular, autoimmune, and cancer disease rates. Due to the significant economic development in emerging countries like India and China, unexplored potential in this region is also anticipated to help this market thrive. The region's expansion is also predicted to be supported by the availability of an adequate population base to create and evaluate clinical protein engineering applications.
The reagents segment is expected to register the highest CAGR of 17.38% over the projected period in the protein engineering market.
The reagents segment is anticipated to grow at the highest CAGR of 17.38% in the protein engineering market. Reagents are being used more frequently for various purposes, such as the creation of growth factors, vaccines, monoclonal antibodies, and other medicines. In addition, the use of reagents for research and development in the creation of novel COVID-19 vaccines has sparked the potential for the introduction of new products in this field and is projected to dominate the market in the years to come.
Over the projected period, the hybrid approach segment is expected to register the highest CAGR of 17.92% in the protein engineering market.
Over the forecasted period, the hybrid approach segment is anticipated to grow at the highest CAGR of 17.92% in the protein engineering market. This is due to the widespread use of hybrid techniques, which combine rational design and directed evolution, for various purposes, including improving redox proteins and enzymes. These enzymes are crucial for designing nano-devices used in biosensing and other significant nanotechnology engineering applications, supporting future growth possibilities.
Over the projected period, the insulin segment is expected to register the highest CAGR of 17.53% in the protein engineering market.
Over the forecasted period, the insulin segment is anticipated to grow at the highest CAGR of 17.53% in the protein engineering market. This is because there is a greater need for insulin as there are more diabetics worldwide. Approximately 8.3 million people in the United States use insulin to control their blood sugar levels. In addition, long-standing market participants like Eli Lilly, Novo Nordisk, and Sanofi provide several varieties of insulin, expanding the segment's potential applications. All of these factors are anticipated to fuel the development of insulin protein engineering in the years to come.
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Market Dynamics
Driver: Rising need for treatments and medications based on proteins
The growing demand for protein-based medicines is the factor that drives the market for protein engineering. Protein-based biological products or medicines treat various diseases, including cancer, autoimmune disorders, and rare genetic abnormalities. Compared to traditional small-molecule drugs, protein-based therapies have several advantages. They are frequently more concentrated and have fewer side effects because they are designed to interact with certain biological targets. Additionally, protein-based drugs are less likely to undergo liver metabolization, which can improve their efficacy and reduce the risk of toxicity.
Restraint: High development costs
The difficult and time-consuming process of designing, synthesizing, and testing proteins with particular properties is known as protein engineering. The demand for major investments in research and development in this process is a significant barrier to entry for smaller businesses and startups. Along with direct costs for research and development, protein-based products must also incur indirect costs to be delivered to market. For instance, multiple clinical trials and thorough safety evaluations are part of the time-consuming and expensive regulatory licencing procedure for new protein-based drugs. The high development costs of protein engineering have a negative effect on market competition since smaller enterprises and startups lack the resources to invest in research and development. As a result, larger businesses' market dominance becomes more consolidated, which hampers innovation and increases consumer prices.
Opportunity: Technological advances in synthetic biology and gene editing
Gene editing and artificial biological technologies enable scientists to create unique proteins with particular properties by changing and reprogramming the genetic code of cells. One potential study area is using CRISPR/Cas9 gene editing technology to alter the genes that code for specific proteins. Researchers can selectively change these genes to create proteins with unique or improved capabilities, such as increased stability, improved selectivity, or improved activity. Synthetic biology offers new opportunities for protein engineering. Synthetic biology involves creating new biological systems using DNA and other building elements. Scientists employ synthetic biology approaches to create novel proteins or modify existing ones to meet specific requirements.
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Some of the major players operating in the protein engineering market are:
• Bruker Cor.
• PerkinElmer, Inc.
• Bio-Rad Laboratories
• Danaher Corp.
• Amgen, Inc.
• Agilent Technologies
• Waters Corp.
• Genscript Biotech Corp.
• Thermo Fisher Scientific, Inc.
• Merck KGaA
Key Segments cover in the market:
By Product:
• Reagents
• Instruments
• Software & Services
By Technology:
• Directed Evolution
• De Novo Protein Design
• Rational Protein Design
• Hybrid Approach
• Others
By Protein Type:
• Monoclonal Antibodies
• Growth Factors
• Coagulation Factors
• Insulin
• Colony Stimulating Factors
• Vaccines
• Interferon
• Others
By Region
• North America (U.S., Canada, Mexico)
• Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
• Asia-Pacific (China, Japan, India, Rest of APAC)
• South America (Brazil and the Rest of South America)
• The Middle East and Africa (UAE, South Africa, Rest of MEA)
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About the report:
The market is analyzed based on value (USD Billion). All the segments have been analyzed worldwide, regional, and country basis. The study includes the analysis of more than 30 countries for each part. The report analyzes driving factors, opportunities, restraints, and challenges for gaining critical insight into the market. The study includes porter's five forces model, attractiveness analysis, product analysis, supply, and demand analysis, competitor position grid analysis, distribution, and marketing channels analysis.
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