Dublin, Jan. 26, 2024 (GLOBE NEWSWIRE) -- The "Protein Engineering Market - Global Industry Size, Share, Trends Opportunity, and Forecast, 2028F" report has been added to ResearchAndMarkets.com's offering.
The Global Protein Engineering Market has been steadfast in its growth, with a robust forecast through to 2028. The market, which stood at USD 2.56 billion in 2022, is set to expand with an impressive CAGR of 11% during the period leading up to 2028. Such growth is attributed to the significant demand for biopharmaceuticals, technological advancements, and sustained investment in biotechnology and pharmaceutical research and development.
The modern marketplace is witnessing a surge in the relevance of protein engineering due to its critical role in the creation and improvement of proteins for research, drug discovery, and industrial use. Protein engineering is pushing boundaries with innovative applications, from optimizing drug production to developing targeted therapies for a multitude of illnesses, including rare diseases where treatment options were previously very limited.
Technological Advancements Spearheading Market Progress
In the realm of protein engineering, cutting-edge technologies such as CRISPR-Cas9 genome editing, high-throughput screening, and computational methods are paving the way for breakthroughs in drug development and various industrial applications. The field's advancement hinges on these technological enhancements, fostering unprecedented precision in the design and manipulation of biomolecules.
Biotechnology and Pharmaceutical Sectors Underpinning Market Demand
The flourishing biotechnology and pharmaceutical sectors form a principal driving force behind the market's progress. The shift towards biologic drugs, including monoclonal antibodies and vaccines, necessitates sophisticated protein engineering processes to heighten their therapeutic potency. The industry's pivot to personalized medicine has further cemented the indispensability of protein engineering.
Emphasis on Orphan Diseases Offering New Avenues for Growth
In light of an increased focus on orphan and rare diseases, protein engineering stands out as a means to fulfill the unmet clinical needs through the development of specific therapies. With its capability to customize proteins to target rare disease pathways effectively, protein engineering is at the forefront of precision medicine, delivering hope to patients worldwide.
Notable Findings and Market Segmentation Insights
- Within the technology spectrum of the protein engineering market, the rational design segment reigns, propelled by extensive applications in enzyme engineering and antibody development.
- Among product types, monoclonal antibodies represent the largest revenue segment, benefiting from the increased research into monoclonal antibody enhancements.
- Pharmaceutical and biotechnology companies emerged as the leading end-use segment, driven by their pursuit of innovative therapeutic proteins and enzymes.
The report highlights North America as the largest contributory region in the Global Protein Engineering Market, with significant presence and collaborations between key market players. However, the Asia-Pacific region is anticipated to register the highest CAGR owing to the burgeoning biomedical sectors across countries such as China and India.
Challenges to Overcome
The complexity of protein design and the environmental concerns associated with biotech processes present challenges that the market must address. It is imperative to balance sustainability with scientific advancement in an industry deeply entwined with environmental ethics. The Global Protein Engineering Market is a testament to the convergence of technology, science, and therapeutic innovation. Its trajectory remains upward, reflecting the vitality and expanding scope of protein engineering in supporting human health and industrial advancements globally.
Key Attributes
| Report Attribute | Details |
| No. of Pages | 189 |
| Forecast Period | 2022-2028 |
| Estimated Market Value (USD) in 2022 | $2.56 Billion |
| Forecasted Market Value (USD) by 2028 | $4.76 Billion |
| Compound Annual Growth Rate | 11% |
| Regions Covered | Global |
A selection of companies mentioned in this report includes:
- Agilent Technologies Inc.
- Amgen Inc.
- Bruker Corporation
- Bio-Rad Laboratories Inc.
- Eli Lilly and Company
- Merck KGaA
- Novo Nordisk AS
- PerkinElmer Inc.
- Thermo Fisher Scientific Inc.
- Waters Corporation
- Genscripts USA, Inc.
- GE Healthcare
For more information about this report visit https://www.researchandmarkets.com/r/b0cgcf
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