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

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.