Protein Engineering Market Growth Analysis | 2024-2030

Market Insights

The protein engineering market was estimated at USD 2.55 billion in 2023 and is likely to grow at a CAGR of 16.15% during 2024-2030 to reach USD 7.29 billion in 2030.

Want to know more about the market scope? Register Here

Market Dynamics

Introduction

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 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 Drivers

The major factors driving the growth of the protein engineering market are:

• Growing Demand for Biopharmaceuticals: An increased awareness rate of diseases including cancer, diabetes and autoimmune diseases has boosted the need for biopharmaceuticals, more so through engineered proteins such as monoclonal antibodies, enzymes and hormones. Protein engineering plays a crucial role in developing more effective, targeted, and safer therapeutic solutions.
• Advancements in Protein Engineering Technologies: With the help of the new methodologies, along with CRISPR, directed evolution, and rational protein design, researchers are already establishing new proteins with improved performance. The use of artificial intelligence (AI) and machine learning (ML) is growing at an astonishing rate and is enabling faster and cheaper protein design and optimisation.

Want to have a closer look at this market report? Click Here

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.

Note: The above list does not necessarily include all the top players in the market.

Are you the leading player in this market? We would love to include your name. Write to us at [email protected]

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 2023 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 2023 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.

Know the high-growth countries in this report. Click Here

Research Methodology

• This strategic assessment report from Stratview Research provides a comprehensive analysis that reflects today’s protein engineering market realities and future market possibilities for the forecast period.
• The report segments and analyzes the market in the most detailed manner in order to provide a panoramic view of the market.
• The vital data/information provided in the report can play a crucial role for market participants as well as investors in the identification of the low-hanging fruits available in the market as well as to formulate growth strategies to expedite their growth process.
• 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 15 detailed primary interviews with market players across the value chain in all four regions and 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 market dynamics and will enable strategic decision-making for existing market players as well as those willing to enter the market. The following are the key features of the report:

• Market structure: Overview, industry life cycle analysis, supply chain analysis.
• Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis.
• Market trend and forecast analysis.
• Market segment trend and forecast.
• Competitive landscape and dynamics: Market share, Service portfolio, New Product Launches, etc.
• COVID-19 impact and its recovery curve
• Attractive market segments and associated growth opportunities.
• Emerging trends.
• Strategic growth opportunities for the existing and new players.
• Key success factors.

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 protein engineering 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)

Know more about various segments of this report. Register Here

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 [email protected].