What is the global market size of Protein Engineering Market?

Global Protein Engineering Market size was valued at around 1.85 billion in 2021 and is expected to rise from USD 2.16 billion in 2022 to reach a value of USD 7.62 Billion by 2030, at a CAGR of 16.60 % over the forecast period (2022–2030).

Who are the key vendors in the Global Protein Engineering Market?

The global protein engineering market is highly competitive in nature, with several key players operating worldwide. These companies are actively involved in research and development activities, strategic partnerships, mergers and acquisitions, and product launches to strengthen their market presence. To enhance their industry footprint, prominent firms are pursuing a variety of essential tactics such as collaborations, mergers, acquisitions, and so on. For example, in 2022, Creative BioMart improved its protein engineering planning and evaluation services to aid researchers in resolving protein engineering challenges. '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', 'GenScript Biotech Corporation', 'Cyrus Biotechnology, Inc.', 'Integrated DNA Technologies, Inc. (IDT)', 'New England Biolabs', 'Genentech, Inc.', 'Promega Corporation', 'Sutro Biopharma, Inc.'.

What is the key driver of Global Protein Engineering Market?

Protein engineering plays a crucial role in the development of therapeutic proteins, such as antibodies, enzymes, and hormones. The growing prevalence of chronic diseases and the rising demand for targeted and personalized therapies are driving the need for novel and optimized therapeutic proteins.

What is the key market trend for Global Protein Engineering Market?

Increasing Demand for Personalized Medicine: There is a growing demand for personalized medicine, where treatments are tailored to individual patients based on their genetic makeup. Protein engineering enables the development of customized therapeutic proteins and antibodies that can target specific diseases and improve patient outcomes.

Which region accounted for the largest share in Global Protein Engineering Market?

North America will dominate the global industry in 2022, accounting for over 40.75% of total sales. The region is predicted to maintain its leadership over the forecast period. A growing number of collaborations promoted by leading market participants to increase their R&D skills are expected to be responsible for this region's larger share. The major goal of the partnership was to create a unique interleukin-2 (IL-2) agonist designed to specifically boost regulatory T cell (Treg) proliferation for the treatment of autoimmune diseases.

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 News

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.

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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).

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. '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.'

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.

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.

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.

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What is the global market size of Protein Engineering Market?

Who are the key vendors in the Protein Engineering Market?

What is the key driver of Protein Engineering Market?

What is the key market trend for Protein Engineering Market?

Which region accounted for the largest share in Protein Engineering Market?

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