Protein Engineering Market Forecast & Growth Analysis | 2023-2028

Market Insights

The protein engineering market was estimated at USD 2.94 billion in 2022 and is likely to grow at a CAGR of 12.41% during 2023-2028 to reach USD 5.96 billion in 2028.

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What is protein engineering?

Protein engineering is the process of altering a protein sequence to attain the desired result such as increased stability to the temperature, organic solvents, and/or extremes of pH or a change in the substrate capacity.

COVID-19 Impact

The global pandemic in 2020 shook the whole world significantly impacting almost every industry. However, the protein engineering market saw a significant increase in revenues as Covid-19 boosted the industry due to the implication of protein engineering for producing vaccines and diagnostics for COVID-19.

Market Dynamics

The major factors that drive the growth of the market are-

• Increasing investments in synthetic biology,
• mounting focus on protein-based drug development by biotechnology and pharmaceutical companies.

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Segment Analysis

By Products & Services Type

Based on the products & services type, the market is segmented as instruments, consumables, and software & services. The instrument segment held the largest share of the market in 2022 and is expected to remain dominant during the forecast period. Technological advancements and the high price of mass spectroscopy and crystallography instruments are the major factors leading to the dominance of the instrument segment.

By Protein Type

Based on the protein type, the market is segmented as monoclonal antibodies, erythropoietin, interferons, vaccines, colony-stimulating factors, growth hormones, coagulation factors, and others. The monoclonal antibodies segment dominated the market in 2022 and is expected to maintain its position during the forecast period. Increasing demand for monoclonal antibodies for the treatment of cancer, neurological diseases, and infectious diseases is the major factor behind its dominance.

Regional Insights

In terms of regions, North America is estimated to be the largest market during the forecast period. The presence of well-established CROs, increasing investment in R&D, and the availability of the latest techniques and instruments for drug discovery research are the major factors behind the dominance of the North American market.

Asia-Pacific is expected to be the fastest-growing market during the forecast period. Advancements in genomics and proteomics research and government initiatives and funding for protein-based drug research in key countries are the major factors behind the extraordinary growth of the region’s market.

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Market Segmentation

This report studies the market covering a period of 12 years of trend and forecast. The report provides detailed insights into the market dynamics to enable informed business decision-making and growth strategy formulation based on the opportunities present in the market.

The market is segmented into the following categories.

By Products & Services Type

• Instruments
• Consumables
• Software & Services

By Protein Type

• Monoclonal Antibodies
• Erythropoietin
• Interferons
• Vaccines
• Colony-stimulating Factors
• Growth Hormones
• Coagulation Factors
• Others

By Technology Type

• Rational Protein Design
• Irrational Protein Design

By End-User Type

• Biopharmaceutical Companies
• Contract Research Organizations
• Academic Research Institutes

By Region

• North America (Country Analysis: the USA, Canada, and Mexico)
• Europe (Country Analysis: Germany, France, the UK, Russia, Spain, and Rest of Europe)
• Asia-Pacific (Country Analysis: China, Japan, India, South Korea, and Rest of Asia-Pacific)
• Rest of the World (Sub-Region Analysis: Latin America, the Middle East, and Others)

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Key Players

Some of the key players in the market are:

• Bio-Rad Laboratories, Inc.,
• Thermo Fisher Scientific, Inc.,
• Bruker Corporation,
• Agilent Technologies, Inc.,
• Waters Corporation,
• Danaher Corporation,
• Codexis, Inc.,
• New England Biolabs, Inc.,
• PerkinElmer,
• Innovagen AB,
• GE Healthcare,
• CUSABIO TECHNOLOGY LLC,
• Promega Corporation,
• Merck KGaA,
• GenScript Biotech Corporation,
• Takara Bio, Inc.,
• Enantis S.R.O.,
• InvivoGen,
• Pace Analytical,
• Aspira Chemical,
• Zymeworks, Inc.,
• Abzena, Ltd.,
• PhyNexus, Inc.,
• ProteoGenix,
• Creative Biolabs.

Research Methodology

This report offers high-quality insights and is the outcome of a detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders, and validation and triangulation with Stratview Research’s internal database and statistical tools.

More than 1,000 authenticated secondary sources, such as company annual reports, fact books, press releases, journals, investor presentations, white papers, patents, and articles have been leveraged to gather the data.

We conducted more than 10 detailed primary interviews with the market players across the value chain in all four regions and with industry experts to obtain both qualitative and quantitative insights.

Report Features

This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision-making for the existing market players as well as those willing to enter the market.

What Deliverables Will You Get in this Report?

Report Customization Options

With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients:

Company Profiling

• Detailed profiling of additional market players (up to 3 players)
• SWOT analysis of key players (up to 3 players)

Market Segmentation

• Current market segmentation of any one of the protein types by application type.

Competitive Benchmarking

• Benchmarking of key players on the following parameters: Product portfolio, geographical reach, regional presence, and strategic alliances.

Custom Research: Stratview Research offers custom research services across sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry to sales@stratviewresearch.com.