Protein Engineering Market Size
Protein Engineering Market size was valued at around USD 2.5 billion in 2023 and is anticipated to register a CAGR of over 15.9% between 2024 and 2032. Protein engineering involves the manipulation and modification of proteins to design or create new and improved variants with desired properties. Proteins are essential biological macromolecules that play crucial roles in various cellular processes, and they are involved in functions such as catalysis, signaling, structural support, and transportation.
The rising frequency of protein-deficient disorders such as marasmus and kwashiorkor, particularly in developing and underdeveloped countries, is anticipated to boost demand for protein medications and different treatment options, resulting in market growth. For instance, in May 2022, as per recent statistics, the marasmus prevalence in the U.S. is under 5%. Notably, in industrialized countries, undernutrition is more widespread in adults than in children. Thus, the rising prevalence of marasmus in the population is boosting the demand for protein synthesis to address protein deficient illnesses, hence adding to the market's overall progression.
Protein Engineering Market Report Attributes
Report Attribute |
Details |
Base Year: | 2023 |
---|
Protein Engineering Market Size in 2023: | USD 2.5 Billion |
---|
Forecast Period: | 2024 – 2032 |
---|
Forecast Period 2024 – 2032 CAGR: | 15.9% |
---|
2024 – 2032 Value Projection: | USD 9.3 Billion |
---|
Historical Data for: | 2018 – 2023 |
---|
No. of Pages: | 155 |
---|
Tables, Charts & Figures: | 276 |
Segments covered: | Product, Technology, Protein Type, End-use, and Region |
---|
Growth Drivers: | - Rising prevalence of protein-deficient diseases
- Increase in adoption of protein drugs over non-protein drugs
- Increasing research & development activities in the biopharmaceutical industry
- Growing funding opportunities for protein engineering
|
---|
Pitfalls & Challenges: | - High costs of protein engineering techniques
- Limited availability of qualified researchers
|
---|
Protein Engineering Market Trends
Growing demand for protein engineering instruments for the development of innovative treatments has accelerated market expansion. Furthermore, the increasing number of government initiatives aimed at improving protein engineering skills are expected to provide considerable growth opportunities for the market. As a result, research activities and programs, funding allocations, and R&D spending in this domain have increased.
- For instance, Nabla Bio announced the completion of a USD 11 million seed funding round in December 2021. With this funding, a platform for AI-first design has been established, that enabled the creation of next-generation antibody therapy, which accounted for USD 214.7 billion in 2022, among other contributing factors
Protein Engineering Market Analysis
Based on product, the market is segmented into instruments, reagents, and software & services. The reagents segment is poised for significant growth at a CAGR of 16.2% during the forecast period.
- The segmental growth is fueled by increasing use of reagents for a wide range of applications, including the synthesis of growth factors, monoclonal antibodies, vaccines, and other medicines.
- Furthermore, the use of reagents for research and development in the creation of innovative COVID-19 vaccines has expanded the prospects for the launch of new products in this sector, which is expected to boost the market in the coming years.
Based on technology, the protein engineering market is segmented into irrational protein design and rational protein design. The rational protein design segment accounted for a revenue share of 65.5% in 2023 and is estimated to follow similar trend over the coming years.
- The widespread use of this technology in enzyme engineering and antibody production is primarily responsible for the segment's rise. Enzyme engineering is being used extensively in the commercial sector, which has led to the development of improved and modified enzymes with the right catalytic properties.
- Further, technology such as site-directed mutagenesis, are frequently utilized in rational design engineering methods, and the significant market penetration of such techniques helps to drive the segment progress.
The protein engineering market by protein type is categorized into insulin, monoclonal antibodies, vaccines, growth factors, coagulation factors, interferon, and other protein types. The monoclonal antibodies segment accounted for around USD 635.3 million revenue size in 2023.
- The segment growth is majorly owing to the increased R&D spending on the development of therapeutically enhanced monoclonal antibody. In addition, the growing use of targeted monoclonal antibodies to treat cancer and other chronic diseases is likely to enhance the market in the near future.
- Similarly, the growth potential is predicted to significantly improve with the advent of genetic platforms that leverage cutting-edge technology, such as next-generation sequencing for enabling efficient protein engineering for the synthesis of monoclonal antibodies.
Based on end-use, the protein engineering market is segmented into academic research institutes, contract research organizations (CROs), and pharmaceutical & biotechnology companies. The pharmaceutical & biotechnology companies segment accounted for a revenue share of 45.1% in 2023 and is estimated to follow similar trend over the coming years.
- The large share is attributed to the increasing use of protein engineering in silico drug development models for the treatment of diabetes, cancer, and neurological problems. These firms strive hard to preserve their market presence by producing drug versions of patent-expiring pharmaceuticals utilizing a computer modeling technique.
- Furthermore, governmental, and commercial healthcare organizations are increasing their funding and financial support for the development of sophisticated protein engineering technologies to improve patient outcomes.
North America protein engineering market accounted for USD 1.01 billion revenue in 2023 and is predicted to witness substantial market growth.
- North America is predicted to dominate the market owing to factors such as increased chronic disease prevalence, high healthcare spending, favorable government policies, and increasing use of protein medications over non-protein drugs.
- Furthermore, the presence of leading market players in the region focusing on development of protein engineering drugs/vaccines, new product launches, and growing product approvals is providing improved treatment alternatives, which is projected to enhance the market demand.
Protein Engineering Market Share
The protein engineering industry is competitive in nature, with several large multinationals and small and mid-sized companies competing in the industry. The development and launch of novel advanced products based on different technologies is among a key market strategy. Some of the leading industry players including Agilent Technologies, Inc., Amgen Inc., Bio-Rad Laboratories, Inc., Bristol Myers Squibb Company, among others have a notable presence in the market.
Protein Engineering Market Companies
Some of the eminent market participants operating in the protein engineering industry include:
- Agilent Technologies, Inc.
- Amgen Inc.
- Bio-Rad Laboratories, Inc.
- Bristol Myers Squibb Company
- Bruker Corporation
- Danaher Corporation
- Genentech, Inc.
- Integrated DNA Technologies, Inc.
- Lonza Group
- Merck KGaA
- Thermo Fisher Scientific Inc.
- Vertex Pharmaceuticals Incorporated
Protein Engineering Industry News:
- In July 2022, Amgen collaborated with Generate Biomedicines to find and develop protein therapies for five clinical targets spanning different therapeutic areas and modalities. As part of the agreement, Amgen make an upfront payment of USD 50 million for the first five studies, with a potential transaction value of more than USD 1.9 billion for future royalties. This strategic initiative helped the company to offer a competitive edge in the market.
Protein engineering market research report includes an in-depth coverage of the industry with estimates & forecast in terms of revenue in USD Million from 2018 to 2032 for the following segments:
Click here to Buy Section of this Report
Market, By Product
- Instruments
- Reagents
- Software & services
Market, By Technology
- Irrational protein design
- Rational protein design
Market, By Protein Type
- Insulin
- Monoclonal antibodies
- Vaccines
- Growth factors
- Coagulation factors
- Interferon
- Other protein types
Market, By End-use
- Academic research institutes
- Contract research organizations (CROs)
- Pharmaceutical & biotechnology companies
The above information is provided for the following regions and countries:
- North America
- Europe
- Germany
- UK
- France
- Italy
- Spain
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- Australia
- South Korea
- Rest of Asia Pacific
- Latin America
- Brazil
- Mexico
- Argentina
- Rest of Latin America
- Middle East and Africa
- South Africa
- Saudi Arabia
- UAE
- Rest of Middle East and Africa