Austin, United States, Nov. 18, 2024 (GLOBE NEWSWIRE) -- Protein Engineering Market Size & Growth Analysis:
“According to SNS Insider, The Global Protein Engineering Market Size was valued at USD 2.15 billion in 2023 and is projected to reach USD 7.39 billion by 2032, growing at a CAGR of 14.72% during the forecast period of 2024-2032.”
This growth is driven by continuous advancements in protein design technologies, increasing demand for biologics and therapeutic proteins, and the rising application of engineered proteins across various industries, including healthcare, agriculture, and environmental sectors.
Market Overview
Protein engineering involves the design, optimization, and production of proteins with enhanced properties to address the growing demand for biopharmaceuticals, diagnostics, and industrial applications. With innovations in biotechnology and computational tools, protein engineering has revolutionized the development of therapeutic proteins, enzymes, and vaccines, meeting the rising healthcare needs worldwide. The market’s growth is underpinned by increased investments in R&D and a surge in protein-based drug approvals. The demand for engineered proteins is expected to continue to rise, particularly in the treatment of cancer, genetic disorders, and autoimmune diseases, while applications in agriculture and industrial biotechnology expand. Supply chains in protein engineering are also becoming more sophisticated, with advancements in automation and high-throughput screening technologies, making protein production more cost-effective and scalable.
Get a Sample Report of Protein Engineering Market@ https://www.snsinsider.com/sample-request/3880
Key Protein Engineering Companies Profiled:
- Agilent Technologies
- AB Sciex
- Bio-Rad Laboratories
- Bruker Corp.
- GE Healthcare
- PerkinElmer, Inc.
- Sigma-Aldrich Corp.
- Thermo Fisher Scientific
- Waters Corp
- Merck KGaA
- Danaher Corp.
- Genscript Biotech Corp.
- Amgen, Inc.
Protein Engineering Market Report Scope:
| Report Attributes | Details |
| Market Size in 2023 | US$ 2.15 Billion |
| Market Size by 2032 | US$ 7.39 Billion |
| CAGR | CAGR of 14.72% From 2024 to 2032 |
| Base Year | 2023 |
| Forecast Period | 2024-2032 |
| Historical Data | 2020-2022 |
| Key Regional Coverage | 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) |
Segment Analysis
By Product & Service
The consumables segment dominated the protein engineering market in 2023, accounting for approximately 45.0% of the market. This dominance is attributed to the essential role consumables play in protein engineering workflows. Items such as reagents, buffers, and specialized kits for protein labeling and modification are crucial for research and biopharmaceutical labs. The demand for consumables is further amplified by the increasing investments in biopharma R&D and the continuous expansion of the life sciences sector. Their consistent need for routine protein characterization and optimization ensures steady growth in this segment.
The software & services segment is poised for the fastest growth during the forecast period, fueled by the increasing reliance on AI and machine learning for protein design. The use of computational tools in protein modeling, rational design, and high-throughput screening is accelerating the development of novel therapeutic proteins. The growing demand for outsourced protein engineering services also adds to the segment’s expansion potential, making software and services a key driver of market growth.
By Technology
Rational protein design held the dominant market share of approximately 60.0% in 2023. This approach leverages computational methods to predict protein function and stability, which is essential for the targeted modification of proteins. Rational design is increasingly crucial for drug discovery, with applications in precision medicine, and is strongly supported by the biopharmaceutical sector's growing focus on tailored therapeutics.
The irrational protein design segment is expected to grow at the fastest rate due to the advancement of directed evolution techniques. This approach allows for the creation of large libraries of protein variants, enabling the discovery of proteins with novel or enhanced functionalities. With the rapid development of synthetic biology and the expansion of directed evolution in biotechnological applications, irrational protein design is becoming a key growth area for the protein engineering market.
Protein Engineering Market Key Segmentation:
By Product & Service
- Instruments
- Consumables
- Software & Services
By Technology
- Rational Protein Design
- Irrational Protein Design
By Protein Type
- Monoclonal Antibodies
- Erythropoietin
- Interferons
- Vaccines
- Colony-stimulating Factors
- Growth Hormones
- Coagulation Factors
- Other Proteins
By End User
- Biopharmaceutical Companies
- Contract Research Organizations
- Academic Research Institutes
Need any customization research on Protein Engineering Market, Enquire Now@ https://www.snsinsider.com/enquiry/3880
Regional Analysis
North America remained the dominant region in the protein engineering market, accounting for a significant share of the global market in 2023. This dominance is driven by the region's strong healthcare infrastructure, substantial R&D investments, and the presence of major biopharmaceutical companies that are at the forefront of protein engineering innovations. The growing adoption of AI-powered software and services in drug discovery and the continuous development of biologics, particularly monoclonal antibodies and gene therapies, is propelling market growth. In addition, regulatory bodies like the FDA are supportive of the rapid approval of protein-based therapeutics, further boosting the market. Leading companies such as Amgen, Genentech, and Merck have been actively involved in protein engineering, contributing to the region's market leadership.
The Asia-Pacific region is expected to experience the fastest growth in the protein engineering market over the forecast period. This growth is driven by rising healthcare investments, the expansion of biopharmaceutical industries, and the increasing focus on drug development in countries like China, India, and Japan. The region's growing demand for biologics and the need for innovative healthcare solutions to combat chronic diseases and genetic disorders are key factors contributing to this rapid growth. Additionally, the rise of biotechnology hubs in countries such as China, with increasing government support for biotechnological research, will further fuel the demand for protein engineering solutions. Companies like WuXi AppTec and Sino Biopharma are contributing to the expansion of protein engineering applications in this region.
Recent Developments and Product Launches
- In January 2024, Agilent Technologies Inc. introduced an advanced automated parallel capillary electrophoresis system designed to streamline protein analysis, offering faster and more accurate data for protein characterization and quality control.
- In April 2024, the Northpond-backed Laboratory for Bioengineering Research and Innovation partnered with the Wyss Institute for the AmnioX project, advancing protein-based drug development to improve patient access to new treatments.
- In June 2023, Astellas Pharma entered a collaborative research agreement with Cullgen to drive the discovery of innovative protein degraders that can target and eliminate disease-causing proteins in cells.
- In March 2023, NVIDIA expanded its generative AI cloud services, enabling customized AI foundation models to accelerate the development of novel proteins and therapeutic solutions for the biopharmaceutical industry.
- In March 2023, Arzeda formed a collaboration with Takeda, utilizing AI-powered protein design technology to optimize protein biologics and accelerate the development of therapeutic proteins for various diseases.
These developments demonstrate the growing integration of advanced technologies such as AI and machine learning into protein engineering, facilitating the development of more efficient and tailored therapeutic solutions. As the protein engineering market continues to evolve, these technological advancements will play a pivotal role in shaping the future of drug development and medical treatments.
Buy a Single-User PDF of Protein Engineering Market Analysis & Outlook Report 2024-2032@ https://www.snsinsider.com/checkout/3880
About Us:
SNS Insider is one of the leading market research and consulting agencies that dominates the market research industry globally. Our company's aim is to give clients the knowledge they require in order to function in changing circumstances. In order to give you current, accurate market data, consumer insights, and opinions so that you can make decisions with confidence, we employ a variety of techniques, including surveys, video talks, and focus groups around the world.
