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
- Published date: Sept 2023
- Report ID: 101541
- Number of Pages: 264
- Format:
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Report Overview
The Global Protein Engineering Market size is expected to be worth around USD 9,329 Million by 2032 from USD 2,691 Million in 2022, 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.
*Actual Numbers Might Vary In The Final Report
Key Takeaways
- Market Overview: The global protein engineering market is expected to reach approximately USD 9,329 million by 2032, growing at a CAGR of 13.60% during 2023-2032.
- Drivers:
- Increasing prevalence of chronic diseases like diabetes and cardiovascular conditions.
- Government initiatives to support protein engineering research.
- Growing need for more specific protein drugs.
- Restrictions:
- High costs of protein engineering techniques and instruments.
- Lack of expertise and trained professionals.
- Regulatory norms and technological limitations.
- Trends:
- Monoclonal antibodies hold the largest market share due to their use in treating conditions like cancer.
- The insulin market is expected to grow rapidly due to the rising number of diabetics.
- Rising use of Contract Research Organizations (CROs) for outsourcing in protein engineering.
- Product & Service Analysis:
- The instruments segment dominates with a 38% revenue share.
- The reagents & media market is expected to grow rapidly due to COVID-19 research and vaccine production.
- Technology Analysis:
- Rational protein design holds the largest revenue share (62%).
- The hybrid approach is anticipated to grow rapidly due to combining rational design and directed evolution.
- Protein Type:
- Monoclonal antibodies account for the highest revenue share.
- The insulin market is expected to grow significantly due to the increasing number of diabetics.
- End-User Analysis:
- The pharma & biotech companies segment captures the highest market share.
- Contract Research Organizations (CROs) are expected to grow at the fastest rate.
- Regional Analysis:
- North America dominates the market, contributing over 40.7% of total revenue.
- Asia-Pacific is expected to grow at the highest CAGR due to the prevalence of chronic diseases and economic development.
- Key Players:
- Prominent players include Bruker Corporation, Agilent Technologies, Amgen Inc., Bio-Rad Laboratories, and others.
- Collaborations and partnerships drive market presence and innovation.
Driving Factors
The Increasing Government Initiatives to Improve Protein Engineering Capabilities
The market’s expansion is also aided by the rising number of government initiatives to enhance protein engineering capabilities, which in turn boost R&D, funding, and investments. For instance, Khosla Ventures and Zetta Venture Partners led Nabla Bio’s USD 11 million seed financing round.
The purpose of this funding is to accelerate the development of an AI-first protein design platform that will make it easier to quickly engineer next-generation antibody drugs from beginning to end. As a result, the market’s overall expansion is aided by the growing government initiatives for effective protein engineering research.
Restraining Factors
An Unaffordable Protein Engineering Techniques and Lack of Expertise to Strategize the Process
The lack of trained professionals coupled with the high cost of protein engineering instruments hampers the overall market growth. Moreover, massive research and development costs, a higher probability of failure of the research, stringent regulatory norms, lack of awareness, and technological limitations could restrain the market growth.
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.
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
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
- In January 2022: Amgen and Generate Biomedicines formed a research partnership to develop and discover protein therapeutics for five clinical targets in a variety of modalities and therapeutic areas. Amgen will contribute USD 50 million to the initial five programs as part of the research collaboration, which has a potential transaction value of USD 1.9 billion and future royalties.
- In July 2021: Protomer Technologies was purchased by Eli Lilly and Company for more than $1 billion. With Protomer’s innovative technology program of glucose-sensing insulin based on its proprietary molecular engineering of protein sensors (MEPS) platform, this acquisition will help the company expand its diabetes portfolio and pipeline.
Report Scope
Report Features Description Market Value (2022) USD 2,691 Million Forecast Revenue (2032) USD 9,329 Million CAGR (2023-2032) 13.6% Base Year for Estimation 2022 Historic Period 2016-2021 Forecast Period 2023-2032 Report Coverage Revenue Forecast, Market Dynamics, Competitive Landscape, Recent Developments Segments Covered 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; and By End-User- Academic Research Institutes, Pharmaceutical & Biotechnology Companies, and Contract Research Organizations. Regional Analysis 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; The Middle East & Africa – Algeria, Egypt, Israel, Kuwait, Nigeria, Saudi Arabia, South Africa, Turkey, United Arab Emirates, & Rest of MEA. Competitive Landscape Bruker Corporation, Agilent Technologies, Inc., Amgen Inc., Bio-Rad Laboratories, Inc., PerkinElmer, Inc., Genscript Biotech Corporation, Waters Corporation, Thermo Fisher Scientific Inc., and Other Key Players. Customization Scope Customization for segments, region/country-level will be provided. Moreover, additional customization can be done based on the requirements. Purchase Options We have three licenses to opt for Single User License, Multi-User License (Up to 5 Users), Corporate Use License (Unlimited User and Printable PDF) Frequently Asked Questions (FAQ)
What is the CAGR Protein Engineering Market During the Forecast Period 2023-2032?The Global Protein Engineering Market size is growing at a CAGR of 13.60% during the forecast period from 2023 to 2032.
What is the Protein Engineering Market Size During the Forecast Period 2023-2032?The Global Protein Engineering Market size is expected to be worth around USD 9,329 Million by 2032, growing at a CAGR of 13.60% during the forecast period from 2023 to 2032.
What is the Protein Engineering Market Size in the Year 2022?The Global Protein Engineering Market size was projected to be worth around USD 2,691 Million in 2022.
Protein Engineering MarketPublished date: Sept 2023add_shopping_cartBuy Now get_appDownload Sample - Bruker Corporation
- Agilent Technologies, Inc.
- Amgen Inc.
- Bio-Rad Laboratories, Inc. Company Profile
- PerkinElmer, Inc.
- Genscript Biotech Corporation
- Waters Corporation
- Thermo Fisher Scientific Company Profile
- Other Key Players
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