Global Protein Engineering Market- By Product & Service (Instruments, Consumables, and Software & Services), By Technology (Irrational Design and Rational Design), By Protein Type (Monoclonal Antibodies, Growth Hormones, Vaccines, Interferons, and Other Protein Types), By End-User (Academic Research Institutes, Pharmaceutical & Biotechnology Companies, and Contract Research Organizations), By Region and Companies - Industry Segment Outlook, Market Assessment, Competition Scenario, Trends, and Forecast 2023-2032

Report Overview

The Global Protein Engineering Market size is expected to be worth around USD 9,329 Million by 2032 from USD 3,057 Million in 2023, growing at a CAGR of 13.60% during the forecast period from 2023 to 2032.

The protein engineering market is rapidly growing and promises lucrative growth opportunities owing to the increasing number of engineered proteins and amino acids globally. It is majorly witnessing positive growth due to the rising utilization of protein drugs over non-protein ones. Moreover, the increasing prevalence of lifestyle and chronic diseases such as diabetes, high blood pressure, cardiovascular diseases, and others further boost the demand for protein engineering.

For example, according to the World Health Organization (WHO), about 235 million people were affected by asthma in 2013. Additionally, the organization stated that cardiovascular diseases accounted for 9.4 million deaths each year; of these, high blood pressure accounted for 16.4% of deaths worldwide. Increasing incidences of chronic diseases would stimulate the demand for protein engineering in order to develop effective protein drugs for the treatment of chronic diseases, leading to market growth.

Additionally, favorable initiatives by the North American and European governments to support the development of the protein engineering market establish a healthy platform for the protein engineering market. Another key contributor to the growth of the protein engineering market, in addition to technological advancements, is the rising need for medicine with higher specificity stimulating market growth in the near future.

Key Takeaways

• Market Size: The global protein engineering market is expected to reach approximately USD 9,329 million by 2032
• Market Growth: The market growing at a CAGR of 13.60% during 2023-2032.
• Product & Service Analysis: The instruments sector generated the majority of the revenue at 38% and dominated the global industry.
• Technology Analysis: The rational protein design held the largest revenue share of 62% in 2023
• Protein Analysis: The Monoclonal Antibodies Segment Accounted for The Highest Revenue Share of the Market.
• End-User Analysis: The pharmaceutical and biotechnology companies segment had the highest share of the Market
• Regional Analysis: In 2022, North America dominated the global industry, accounting for more than 40.7% of total revenue
• Technological Advancements: Innovations in machine learning and bioinformatics are enhancing protein design and engineering processes, making them more efficient and cost-effective.
• Research Investments: Increased funding for research in bioengineering and protein studies is propelling market growth, with numerous academic and research institutions contributing to technological advancements.
• Regulatory Support: Governmental and regulatory support for biotechnological advancements in various regions is facilitating market expansion.
• Collaborations and M&A: Strategic collaborations, mergers, and acquisitions among biotech firms are common, aiming to enhance capabilities and expand market reach.

Product & Service Analysis

The Instruments Segment Dominated the Global Industry

The instruments sector generated the majority of the revenue at 38% and dominated the global industry. One of the primary driving forces behind the segment’s expansion is the growing preference among researchers for automated technologies that facilitate rapid molecular development processes. Over the forecast period, segment expansion is also likely to be aided by rising demand for high-efficiency protein engineering tools like chromatographic systems and real-time PCR equipment.

Due to the growing use of reagents in a variety of applications, such as the production of vaccines, monoclonal antibodies, growth factors, and other therapeutics, the reagents market is anticipated to grow at the fastest CAGR. In addition, the use of reagents for COVID-19 research and development in the production of novel vaccines has fueled product launch opportunities and is expected to drive the market in the coming years.

Technology Analysis

The Rational Protein Design Segmented the Industry and Accounted for The Highest Revenue Share

The rational protein design held the largest revenue share of 62%. The widespread application of this technology in antibody and enzyme engineering accounts for the majority of the share. The rapid growth of enzyme engineering’s commercial applications has created altered and improved enzymes with the desired catalytic properties. In rational design engineering approaches, techniques like site-directed mutagenesis are frequently used, and their high market penetration drives the segment.

Over the forecast period, it is anticipated that the hybrid approach segment will experience the highest rate of growth. This can be attributed to the widespread use of mixed strategies that combine rational design and directed evolution for a variety of purposes, including the improvement of enzymes and redox proteins.

These enzymes significantly impact the design of nanodevices for biosensing and other applications of nanotechnology engineering, improving prospects for growth in the foreseeable future.

Protein Type

The Monoclonal Antibodies Segment Accounted for The Highest Revenue Share of the Market

The market’s highest revenue share belonged to the monoclonal antibody sector. The growing investment in research and development (R&D) to create therapeutically enhanced monoclonal antibodies is one of the primary contributors to the rise in the utilization of these technologies. Additionally, the market is anticipated to expand in the near future due to the growing use of targeted monoclonal antibodies in the treatment of cancer and other chronic diseases.

In a similar vein, the introduction of genetic platforms that use cutting-edge technology, such as next-generation sequencing, which enables effective protein engineering to create monoclonal antibodies, is anticipated to further enhance the growth potential.

During the forecast period, the insulin market is expected to expand at the highest compound annual growth rate (CAGR) due to the rising number of diabetics worldwide. Around 8.3 million people in the United States require insulin to control their blood sugar levels. Additionally, the variety of insulin types offered by established players in the market, such as Sanofi, Novo Nordisk, and Eli Lilly, expands the market’s application possibilities. The development of insulin protein engineering is anticipated to be fueled in the near future by these elements.

End-User Analysis

The Pharma & Biotech Companies Segment Captured the Highest Share

The pharmaceutical and biotechnology companies segment had the highest share of the Market. The growing use of in silico drug development models for the treatment of cancer, diabetes, and neurological issues accounts for the majority. These organizations continuously work to maintain their market presence by developing drug variations of patent-expiring drugs using computer modeling.

In addition, the segment is being fueled by the growing investment and funding support from public and private healthcare organizations for the creation of sophisticated protein engineering technologies that will improve patient outcomes.

During the forecast period, the Contract Research Organizations (CROs) segment is anticipated to grow at the fastest rate. This is because contract research and manufacturing, and outsourcing are becoming more common in the biopharmaceutical industry.

The market is anticipated to be driven by the advantages provided by CROs, including increased productivity, improved service efficiency, and a greater emphasis on fundamental development areas in protein engineering, including de novo protein engineering.

Key Market Segments

Based on Product & Service

• Instruments
• Consumables
• Software & Services

Based on Technology

• Irrational Design
• Rational Design

Based on Protein Type

• Monoclonal Antibodies
• Growth Hormones
• Vaccines
• Interferons
• Other Protein Types

Based on End-User

• Academic Research Institutes
• Pharmaceutical & Biotechnology Companies
• Contract Research Organizations

Driver

Technological Advancements in Protein Analysis and Synthesis

The key driver in the Protein Engineering market is innovation that is happening at a very fast pace especially in the fields of next-generation sequencing and machine learning for protein structure prediction and analysis. These new technologies foster better and optimized control and design of proteins making them of higher values in areas including drugs, disease detection, and improved biocatalysts.

Restraint

High Costs and Technical Complexity

One of the major threats that affect the Protein Engineering market is the high cost, time and effort required for the undertaking of protein engineering processes. The high-quality equipment and the professional level of talent involved necessary may be costly to enable, which denies SMEs and startups a chance to engage in the service confidently.

In addition, the 3D conformation of proteins as well as protein folding and protein-protein interaction present a cocktail of issues that are more often than not technical in nature that result in extension of product cycle time and eventual research and development costs.

Opportunity

Expanding Applications in Therapeutics and Industrial Enzymes

The expanding range of applications of engineered proteins offers vast opportunities. In therapeutics, engineered proteins are critical in developing new treatments for diseases with unmet medical needs, including various cancers and genetic disorders.

Industrial applications, particularly in developing eco-friendly and efficient enzymes for manufacturing processes, also present substantial growth opportunities. The increasing focus on sustainability and the shift towards green chemistry further amplify the demand for engineered proteins in industrial sectors.

Trending Factors

The Rising Prevalence of Cancer and Other Autoimmune Diseases Has Significantly Increased the Use of Monoclonal Antibodies

Due to their widespread use in the treatment of a wide range of conditions, including cancer and autoimmune diseases, monoclonal antibodies are expected to hold the largest share of the market during the forecast period. The use of monoclonal bodies in the treatment of diseases has significantly increased as a result of the rising prevalence of cancer and other autoimmune diseases. For instance, approximately 287,850 new cases of invasive breast cancer are anticipated to be diagnosed among women in the US in 2022, as reported by the American Cancer Society.

Additionally, approximately 51,400 new cases of ductal carcinoma in situ are anticipated to be diagnosed in the US in 2022, according to the same source. As a result, the demand for better treatment options is growing as a result of the rising number of breast cancer cases in the population, which is anticipated to boost market growth over the forecast period. Also, it is expected that the rising number of cases of multiple sclerosis will lead to an increase in the demand for medications and treatments that are protein-engineered, thereby accelerating market expansion.

Regional Analysis

North America Dominates the Global Protein Engineering Market During the Forecast Period.

In 2022, North America dominated the global industry, accounting for more than 40.7% of total revenue. It is anticipated that the region will maintain its lead throughout the forecast period. This region is likely to capture a more enormous share thanks to an increasing number of collaborations that are being encouraged by key market players to improve their R&D capabilities.

For instance, the protein engineering partnership between Cyrus Biotechnology, Inc. and Selecta Biosciences, Inc. combined Cyrus’s ability to fundamentally redesign protein treatments with Selecta’s ImmTOR platform. The primary goal of the collaboration was to create a unique interleukin-2 (IL-2) agonist that could be used to treat autoimmune disorders by enhancing the growth of regulatory T cells (Tregs).

In a similar vein, the substantial market share is attributable to the region’s presence of major players like Thermo Fisher Scientific, Inc. and Agilent Technologies, Inc. Due to the high prevalence of cardiovascular disease, cancer, and autoimmune disorders in developing Asian nations, the Asia-Pacific region is anticipated to expand at the highest CAGR over the forecast period.

Due to the rapid economic development of emerging markets like China and India, untapped opportunities in this region are anticipated to contribute to the sector’s expansion. Additionally, the region’s expansion is expected to be aided by the presence of a large population base for protein engineering application development and clinical testing.

Key Regions

• North America
  • The US
  • Canada
  • Mexico
• Western Europe
  • Germany
  • France
  • The UK
  • Spain
  • Italy
  • Portugal
  • Ireland
  • Austria
  • Switzerland
  • Benelux
  • Nordic
  • Rest of Western Europe
• Eastern Europe
  • Russia
  • Poland
  • The Czech Republic
  • Greece
  • Rest of Eastern Europe
• APAC
  • China
  • Japan
  • South Korea
  • India
  • Australia & New Zealand
  • Indonesia
  • Malaysia
  • Philippines
  • Singapore
  • Thailand
  • Vietnam
  • Rest of APAC
• Latin America
  • Brazil
  • Colombia
  • Chile
  • Argentina
  • Costa Rica
  • Rest of Latin America
• Middle East & Africa
  • Algeria
  • Egypt
  • Israel
  • Kuwait
  • Nigeria
  • Saudi Arabia
  • South Africa
  • Turkey
  • United Arab Emirates
  • Rest of MEA

Key Players Analysis

Creative BioMart upgraded its protein engineering design and analysis services

Partnerships, acquisitions, and other vital strategies are being implemented by key players. to increase their presence in the industry. For instance, Creative BioMart upgraded its protein engineering design and analysis services in August 2022 to assist researchers in resolving protein engineering issues.

Market Key Players

Listed below are some of the most prominent global protein engineering market players.

• Bruker Corporation
• Agilent Technologies, Inc.
• Amgen Inc.
• Bio-Rad Laboratories, Inc.
• PerkinElmer, Inc.
• Genscript Biotech Corporation
• Waters Corporation
• Thermo Fisher Scientific Inc.
• Other Key Players.

Key Industry developments

• Bruker Corporation (May 2024): Bruker Corporation completed the acquisition of NanoString Technologies’ assets, enhancing its spatial biology and single-cell research tools portfolio. This strategic move aims to integrate NanoString’s spatial transcriptomics and gene expression analysis solutions with Bruker’s offerings, driving innovation in life sciences and translational research​ (Bruker IR)​.
• Agilent Technologies, Inc. (June 2024): Agilent Technologies launched the Agilent Seahorse XF Pro Analyzer, a next-generation platform for real-time cellular metabolism analysis. This product is designed to provide advanced insights into cellular bioenergetics, supporting applications in drug development and disease research​.
• Amgen Inc. (2024): Amgen Inc. announced a merger with Horizon Therapeutics, expanding its portfolio in autoimmune and inflammatory diseases. This merger is expected to strengthen Amgen’s position in biologics and precision medicine, enhancing its capabilities in protein engineering and therapeutic development​.
• Bio-Rad Laboratories, Inc. (March 2024): Bio-Rad Laboratories introduced the Bio-Plex Pro Human Cytokine 48-Plex Screening Panel, a comprehensive tool for simultaneous detection of 48 cytokines. This panel aims to facilitate biomarker discovery and translational research in immunology and cancer studies​.
• PerkinElmer, Inc. (Acquisition – February 2024): PerkinElmer acquired Omni International, a leading provider of homogenizers and laboratory equipment. This acquisition aims to enhance PerkinElmer’s sample preparation capabilities, crucial for protein analysis and engineering applications in life sciences research.
• Genscript Biotech Corporation (May 2024): Genscript Biotech Corporation launched the GenScript AmMag MR-mini DNA/RNA extraction kit. This product is designed for high-efficiency nucleic acid extraction, supporting applications in molecular diagnostics and genomic research, thereby bolstering protein engineering workflows​.

Report Scope