New York, May 23, 2023 (GLOBE NEWSWIRE) -- The Protein Engineering Market size is projected to surpass around USD 9,329 Million by 2032, and it is poised to reach a CAGR of 13.6% from 2023 to 2032. The global protein engineering market size accounted for USD 2,691 Million in 2022.
Protein engineering refers to the process in which a researcher transforms a protein sequence through insertion, substitution, or deletion of nucleotides in the encoding gene, aiming to obtain a modified protein that is more appropriate for a particular application or purpose than an unmodified protein.
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Key Takeaway:
- By Product & Service, the instruments segment generated the largest revenue share in 2022.
- By Technology, the rational protein design segment has dominated the market, and it is growing at the highest CAGR over the forecast period 2023 to 2032.
- By Protein Type, the monoclonal antibody segment accounted for the largest revenue share.
- By End-User, the pharmaceutical and biotechnology companies segment held the largest share of the market.
- In 2022, North America dominated the market with the highest revenue share of 40.7%.
- Asia-Pacific will grow at the fastest CAGR from 2023-2032.
The protein engineering market is growing speedily and creating numerous growth opportunities due to the increasing number of engineered proteins and amino acids worldwide. The market is growing positively due to the rising utilization of protein drugs over non-protein ones. Furthermore, the rising frequency of lifestyle and chronic diseases such as blood pressure, cardiovascular diseases, diabetes, and others will further propel the demand for the market.
Factors affecting the growth of the protein engineering market
There are several factors that can affect the development of the protein engineering market. Some of these factors include:
- Increasing Frequency of Chronic Diseases: The increasing frequency of chronic diseases boosts the growth of the market.
- Increasing Need For Medicine With Higher Specificity: The increasing need for medicine with higher specificity will propel the market’s growth.
- Technological Advancements: The numerous technological advancements in the market will likely surge the market.
- Presence of a Large Population Base: The presence of a large population base leads to the expansion of the market.
- Increasing Government Initiatives: Increasing government initiatives to improve protein engineering capabilities will accelerate market growth.
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Top Trends in Global Protein Engineering Market
The use of monoclonal bodies in the treatment of diseases has considerably increased as a result of the rising prevalence of cancer and other autoimmune diseases. The demand for better treatment options is rising due to the growing number of breast cancer cases in the population, and it is expected to enhance the growth of the market over the forecast period. Similarly, it is expected that the increasing number of cases of multiple sclerosis will result in an increase in the demand for medications and treatments that are protein-engineered. Thus, it accelerates the expansion of the market.
Market Growth
Increasing frequencies of chronic diseases would fuel the demand for protein engineering in order to develop effective protein drugs for the treatment of chronic diseases, and this will lead to market growth. Moreover, favorable initiatives were taken by the NA and European governments to support the growth of the protein engineering market, and this established a healthy platform for the protein engineering market. The increasing need for medicine with higher specificity will boost the market growth during the forecast period. It is the additional key contributor to the growth of the protein engineering market in addition to technological advancements.
Regional Analysis
North America dominated the global industry, accounting for more than 40.7% of total revenue. It is anticipated that the region will maintain its lead throughout the forecast period. This region is likely to capture a larger share thanks to an increasing number of collaborations that are being encouraged by key market players to improve their R&D capabilities.
The Asia-Pacific region is projected to grow at the highest CAGR over the forecast period. This is because of the high prevalence of cancer, cardiovascular disease, and autoimmune disorders in emerging Asian nations. Moreover, the expansion of the region is expected to be aided by the presence of a large population base for protein engineering application development as well as clinical testing.
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Scope of Report
| Report Attribute | Details |
| Market Value (2022) | USD 2,691 Million |
| Market Size (2032) | USD 9,329 Million |
| CAGR (from 2023 to 2032) | 13.6% |
| North America Revenue Share | 40.7% |
| Historic Period | 2016 to 2022 |
| Base Year | 2022 |
| Forecast Year | 2023 to 2032 |
Market Drivers
The growth of the market is also assisted by the rising number of government initiatives to improve protein engineering capabilities; this will result in a boost in funding, R&D, and investments. For instance, Khosla Ventures and Zetta Venture Partners led Nabla Bio's USD 11 million seed financing round. The aim of this funding is to quicken the development of an AI-first protein design platform. With this, it became easier to quickly engineer next-generation antibody drugs from beginning to end. Hence, the overall expansion of the market is aided by the rising government initiatives for effective protein engineering research.
Market Restraints
The overall market growth was hindered due to the lack of trained professionals coupled with the high cost of protein engineering instruments. Furthermore, a higher probability of failure of the research, huge research and development costs, lack of awareness, stringent regulatory norms, and technological limitations could restrain the market growth.
Market Opportunities
The rising demand for alternatives to clinical processes globally is the major factor that drives the growth of the market. The rise in the preference for protein therapeutics on behalf of non-protein drugs will have positive clinical outcomes related to these drugs, and this will propel the market growth. Moreover, the rise in demand from the agrochemical industry, along with the advancements in the process, will provide a profitable opportunity to the major market players during the forecast period.
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Report Segmentation of the Protein Engineering Market
Product & Service Insight
The instruments sector held the highest share of the market. One of the key driving factors responsible for the expansion of the segment is the rising preference among researchers for automated technologies that ease rapid molecular development processes. The segment expansion is also likely to be aided during the forecast period by rising demand for high-efficiency protein engineering tools like chromatographic systems as well as real-time PCR equipment.
Technology Insight
The rational protein design segment generated the majority of the revenue share of the market. The extensive application of this technology in antibody as well as enzyme engineering held the maximum share. The fast growth of commercial applications by enzyme engineering has led to the formation of altered and improved enzymes with the preferred catalytic properties. Techniques like site-directed mutagenesis are frequently used in rational design engineering approaches. Furthermore, the segment is driven by its high market penetration.
Protein Type Insight
In the protein type segment, the maximum share was held by the monoclonal antibody sector. The increasing investment in R&D for the creation of therapeutically advanced monoclonal antibodies is the major factor in the upsurge in the utilization of these technologies. Moreover, in the forecast period, the market is expected to develop due to the increasing use of targeted monoclonal antibodies in the treatment of cancer and other chronic diseases. Similarly, the introduction of genetic platforms that make use of advanced technology like next-generation sequencing allows effective protein engineering for the creation of monoclonal antibodies. This is estimated to further enhance the growth potential of the market.
End-User Insight
The pharmaceutical & biotechnology companies segment accounted for the largest share of the market. There is a surge in the use of in silico drug development models for the treatment of diabetes, cancer, and neurological issues. With the help of computer modeling, numerous organizations continuously work to maintain their presence in the market by developing drug variations of patent-expiring drugs. Additionally, the segment is being driven by the rising investment and funding support from public and private healthcare organizations with the aim to create sophisticated protein engineering technologies, and this will improve patient outcomes.
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Market Segmentation
By Product & Service
- Instruments
- Consumables
- Software & Services
By Technology
- Irrational Design
- Rational Design
By Protein Type
- Monoclonal Antibodies
- Growth Hormones
- Vaccines
- Interferons
- Other Protein Types
By End-User
- Academic Research Institutes
- Pharmaceutical & Biotechnology Companies
- Contract Research Organizations
By Geography
- North America
- The US
- Canada
- Mexico
- Western Europe
- Germany
- France
- The UK
- Spain
- Italy
- Portugal
- Ireland
- Austria
- Switzerland
- Benelux
- Nordic
- Rest of Western Europe
- Eastern Europe
- Russia
- Poland
- The Czech Republic
- Greece
- Rest of Eastern Europe
- APAC
- China
- Japan
- South Korea
- India
- Australia & New Zealand
- Indonesia
- Malaysia
- Philippines
- Singapore
- Thailand
- Vietnam
- Rest of APAC
- Latin America
- Brazil
- Colombia
- Chile
- Argentina
- Costa Rica
- Rest of Latin America
- Middle East & Africa
- Algeria
- Egypt
- Israel
- Kuwait
- Nigeria
- Saudi Arabia
- South Africa
- Turkey
- United Arab Emirates
- Rest of MEA
Competitive Landscape
Acquisitions, partnerships, and other key strategies are being applied by key players with the aim of surging their presence in the industry. For instance, Creative BioMart upgraded its protein engineering design and analysis services to assist researchers in resolving protein engineering issues in August 2022.
Market Key Players:
- Bruker Corporation
- Agilent Technologies, Inc.
- Amgen Inc.
- Bio-Rad Laboratories, Inc.
- PerkinElmer, Inc.
- Genscript Biotech Corporation
- Waters Corporation
- Thermo Fisher Scientific Inc.
- Other Key Players
Recent Development of the Protein Engineering Market
- In January 2022- Amgen and Generate Biomedicines formed a research partnership to develop and discover protein therapeutics for five clinical targets in a variety of modalities and therapeutic areas. Amgen will contribute USD 50 million to the initial five programs as part of the research collaboration, which has a potential transaction value of USD 1.9 billion and future royalties.
- In July 2021- Protomer Technologies was purchased by Eli Lilly and Company for more than $1 billion. With Protomer's innovative technology program of glucose-sensing insulin based on its proprietary molecular engineering of protein sensors (MEPS) platform, this acquisition will help the company expand its diabetes portfolio and pipeline.
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