USD 2.52 Billion in 2023
Protein Engineering Market Size, Share, Growth Analysis, By Product(Instruments, Reagents, and Software & Services), By Technology(Rational Protein Design, Directed Evolution, Hybrid Approach, De Novo Protein Design), By Protein Type(Insulin, Monoclonal Antibodies, Vaccines, Growth Factors), By End-User(Academic Research Institutes, Contract Research Organizations, and Pharmaceutical & Biotechnology Companies), By Region - Industry Forecast 2024-2031
Report ID:
SQMIG35H2172 |
Region:
Global |
Published Date: March, 2024
Pages:
219
|Tables:
124
|Figures:
77
Protein Engineering Market Insights
Global Protein Engineering Market Size was valued at USD 2.16 Billion in 2022 and is poised to grow from USD 2.52 Billion in 2023 to USD 8.6 Billion by 2031, at a CAGR of 16.60% during the forecast period (2024-2031).
Rapidly increasing demand for biopharmaceuticals and growing investments in the development of new genetic engineering technologies are projected to benefit protein engineering market growth. High investments in medical R&D to develop new vaccines and biologics for the treatment of surging chronic diseases are also expected to create new opportunities for protein engineering providers over the coming years. Advancements in synthetic biology and increasing investments in the development of advanced protein engineering technologies and techniques are also forecasted to create new business opportunities for protein engineering companies in the future.
High demand for personalized medicine and targeted therapies around the world is also estimated to promote the sales of protein engineering products and services in the future. An upsurge in the incidence of multiple chronic and infectious diseases is also estimated to boost the demand for protein engineering in the long run. However, intellectual property issues and disputes, challenges in maintaining protein stability, and ethical concerns regarding protein engineering are key constraints that could slow down market development going forward.
Market Snapshot - 2024-2031
Global Market Size
Largest Segment
Rational Protein Design
Fastest Growth
Rational Protein Design
Growth Rate
16.60% CAGR
Global Protein Engineering Market ($ Bn)
Country Share for North America Region (%)
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Protein Engineering Market Segmental Analysis
The global protein engineering market is segmented based on technology, protein type, product, end user, and region. In terms of product, the market is segmented into instruments, reagents, and software & services. With respect to segmentation by technology, the market is widespread into rational protein design, directed evolution, hybrid approach, de novo protein design, and others. Based on protein type, the protein engineering market is grouped into insulin, monoclonal antibodies, vaccines, growth factors, colony stimulating factors, coagulation factors, interferon, and others. By end-use, the market is segmented into academic research institutes, contract research organizations, and pharmaceutical & biotechnology companies. Regionwise, the protein engineering market is widespread into North America, Europe, Asia-Pacific, South America, and MEA.
Protein Engineering Market Analysis by Protein Type
Monoclonal antibodies are projected to spearhead the global demand for protein engineering in the future. Growing investments in the research and development of novel monoclonal antibodies and their rising use in the development of novel therapeutics and therapies are projected to help this segment maintain its high market share. The rising use of targeted monoclonal antibodies for the treatment of chronic diseases such as cancer will also create new opportunities for protein engineering companies in the future. A combination of next generation gene technologies and protein engineering technologies are being used to create innovative new monoclonal antibodies.
Meanwhile, the use of protein engineering for insulin is projected to increase at a rapid pace across the study period and beyond. Rapidly surging diabetic population around the world and high demand for insulin are slated to help this segment become the most opportune one in the market. Growing investments in the development of novel insulin products around the world are also expected to create new business scope for protein engineering providers going forward. Use of protein engineering for development of new types of insulin, which is more effective in diabetes management will also bolster protein engineering market development in the long run.
Protein Engineering Market Analysis by Product
Instruments are forecasted to account for a major chunk of the global protein engineering market share and bring in about half of the global market revenue as well. High investments in the development and launch of new protein engineering instruments to keep up with advanced medical technologies will also help this segment maintain its dominance through 2031. Real-time PCR apparatus and chromatographic systems are some of the key protein engineering instruments and products that are projected to be highly popular among end users going forward. Integration of advanced technologies such as artificial intelligence and machine learning can help in the creation of automated protein engineering instruments and tools.
On the other hand, the demand for protein engineering reagents is estimated to rise at a robust pace over the coming years. The growing application scope of protein engineering reagents in multiple applications ranging from monoclonal antibodies to targeted therapeutics is slated to create a new business scope for protein engineering companies in the future. The COVID-19 pandemic gave a significant boost to the sales of protein engineering reagents as they are crucial in the development of novel vaccines. High investments in protein research are also expected to promote healthy market growth via this segment.
Global Protein Engineering Market By Product
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Protein Engineering Market Regional Insights
High investments in medical R&D and presence of a developed healthcare infrastructure help North America to maintain a top spot in the global protein engineering market. Rising demand for personalized medicine and advancements in protein engineering technologies are also helping create new business scope in this region. Canada and the United States are forecasted to be the leading revenue generators for protein engineering providers operating in this region. High investments in medical R&D by governments in this region will also promote the demand for protein engineering going forward. Moreover, the presence of top pharmaceutical and biotechnology companies in this region will also help the dominance in the long run.
Meanwhile, the demand for protein engineering in the Asia Pacific region is slated to increase at a robust pace across the study period and beyond. Growing investments in healthcare infrastructure development, rising prevalence of chronic disorders, and growing demand for advanced healthcare technologies and products are slated to create new opportunities for protein engineering providers in Asia Pacific. India, China, and Japan will be the most rewarding markets for protein engineering companies operating in this region. Growing diabetic population and rising geriatric population will also create new business scope for protein engineering market players in the long run.
Global Protein Engineering Market By Region
- Largest
- Fastest
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Protein Engineering Market Dynamics
Global Protein Engineering Market Drivers
Demand for Personalized Medicine
- Personalized medicine has been growing in popularity around the world as people look for more effective treatments for their conditions. Increasing specificity of disease impact based on genetics has led to high use of personalized medicine and protein engineering plays a crucial role in the development of the same. This is why the growing popularity of personalized medicine will also help protein engineering companies expand their business.
High Investments in Synthetic Biology Research
- Protein engineering plays a vital role in the development of synthetic biology products. Therefore, high investments in synthetic biology R&D around the world are indirectly benefiting the demand for protein engineering as well. From the development of biocatalysts to synthetic enzymes, protein engineering has some or other part to be played in synthetic biology going forward.
Protein Engineering Market Restraints
Protein Stability Issues
- Getting protein engineering right is still quite tricky and complex as maintaining the stability and function of a protein is a hard feat to achieve. Proteins can lose their therapeutic properties due to denaturation or aggregation, limiting their effectiveness and the development of new protein-based products, which in turn could slow down market growth potential as well.
Ethical Concerns
- Engineering genes or proteins, all these approaches are being met with some or the other form of backlash as it is not ethically right to fiddle with nature. The risk of unintended consequences and misconceptions regarding the impact of genetic manipulation are also adding up to these ethical concerns and slowing down protein engineering demand outlook.
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Protein Engineering Market Competitive Landscape
Protein engineering providers should focus on increasing awareness regarding their offerings and their benefits to maximize their business scope. Collaborations will also play a vital role in helping companies expand their business across the world. Focusing on personalized medicine and biopharmaceutical production will pay off big time for all protein engineering companies in the future. Increasing the affordability of protein engineering products will also be a key trend for protein engineering providers to focus on going forward.
Top Player’s Industry Profiles in Global Protein Engineering Companies
- Thermo Fisher Scientific Inc.
- Merck KGaA
- Agilent Technologies, Inc.
- Genscript Biotech Corporation
- Codexis, Inc.
- Danaher Corporation
- Bio-Rad Laboratories, Inc.
- Bruker Corporation
- PerkinElmer, Inc.
- Creative Biomart
- Abcam plc
- Enzyme by Design Ltd.
- Twist Bioscience Corporation
- Cyrus Biotechnology, Inc.
- Integrated DNA Technologies, Inc. (IDT)
- New England Biolabs
- Genentech, Inc.
- Promega Corporation
- Sutro Biopharma, Inc.
Recent Developments in Global Protein Engineering Industry
- In July 2024, a new fully De Novo protein product was launched by Monod Bio. Luciferase LuxSit™ Pro are the world’s first commercially available de novo luciferases designed to revolutionize the clinical and life sciences research in the future by leveraging artificial intelligence to create next generation protein engineering offerings.
- In November 2023, a new company focusing on revolutionizing protein engineering through the use of artificial intelligence raised USD 24 million in a financing round. Cradle, a new company with Dutch and Swiss roots was behind this finance raise to develop a new generative AI model to develop protein-based therapeutics and compounds.
- Back in February 2022, a new online protein ordering platform for synthetic biology protein engineering was launched. Teirra Biosciences was behind this launch and intended to streamline the protein sourcing process to foster innovation in the protein engineering space.
Protein Engineering Key Market Trends
Use of Directed Evolution:
- Protein engineering companies can explore the use of directed evolution to mimic natural selection in laboratories thereby creating new products that are not entirely synthetic in nature. This approach can also help researchers create more variants of protein that can be used in multiple applications to enhance the scope of treatment of chronic diseases.
De Novo Protein Design:
- Protein engineering companies can invest in De Novo protein design to stand out from the competition. This approach involves designing proteins from the ground up instead of working with existing ones. Custom therapeutics and synthetic enzymes can particularly benefit from the use of De Novo protein design approach.
Protein Engineering Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Correlates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
As per SkyQuest analysis, growing demand for personalized medicine and rising investments in synthetic biology research are projected to drive up the demand for protein engineering going forward. However, issues in maintaining protein stability and ethical concerns regarding protein engineering are slated to impede market development. High investments in medical R&D and supportive government funding allow North America to lead the global protein engineering demand outlook. Focusing on De Novo protein design could help protein engineering companies stand out from their competition and allows them to gain a competitive advantage over others as well.
| Report Metric | Details |
|---|---|
| Market size value in 2022 | USD 2.16 Billion |
| Market size value in 2031 | USD 8.6 Billion |
| Growth Rate | 16.60% |
| Base year | 2023 |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
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| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Protein Engineering Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Protein Engineering Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Protein Engineering Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Protein Engineering Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Protein Engineering Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Protein Engineering Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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