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Protein Engineering Market Size

Report ID: GMI8008
Published Date: Feb 2024
Report Format: PDF

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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.

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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

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Authors: Mariam Faizullabhoy, Gauri Wani

Frequently Asked Questions (FAQ) :

The global protein engineering industry was valued at around USD 2.5 billion in 2023 and is estimated to reach over USD 9.3 billion by 2032 owing to the rising frequency of protein-deficient disorders such as marasmus and kwashiorkor, particularly in developing and underdeveloped countries.

The reagents segment will record significant growth rate at 16.2% from 2024 to 2032, fueled by increasing use of reagents for a wide range of applications, including the synthesis of growth factors, monoclonal antibodies, vaccines, and other medicines.

North America protein engineering market accounted for USD 1.01 billion in 2023 and is predicted to witness substantial growth through 2032, owing to increased chronic disease prevalence, high healthcare spending, favorable government policies, and increasing use of protein medications over non-protein drugs.

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., and Vertex Pharmaceuticals Incorporated.