A protein produced from the genetic engineering process means a protein that can fold correctly and do particular functions efficiently even after being subjected to engineering practices. Protein is modified through its gene or chemically. However, modification of protein through genes is easier. There is no specific limitation of Protein Engineering tools; any technique that can change the protein constituent of amino acids and result in the modification of protein structure or function is in the frame of Protein Engineering. Meanwhile, there are some common tools used to reach a specific target. Protein engineering has various applications, including biocatalyst, food, industry, environmental, medical, and nanobiotechnology. Successful combinations of various protein engineering methods had led to successful results in food industries and have created a scope to maintain the quality of the finished product after processing. Protein Engineering has invented more active industrial and pharmaceutical-based proteins to introduce new functions and change their interaction with the surrounding environment.
The global protein engineering market is growing at a CAGR of 15.9% during the forecast period, 2020-2027. The major elements are the growing demand for protein engineering is the development of protein therapeutics for improving health outcomes associated with the drugs. Additionally, the increasing utilization of protein engineering technology and application in healthcare, as well as R&D activities for protein-based drug development, will spur the global protein engineering industry in the future periods. Furthermore, the growing public-private funding for protein engineering activities and the easy development of medical products is expected to witness remarkable growth of the protein engineering market. Increasing incidence of chronic diseases such as cancer treatment and novel antibodies for anticancer agents are expected to propel the demand for protein engineering over the coming years. Moreover, the upsurge in demand for protein engineering for the production of nanodevice and biosensors is positively impacting the market for protein engineering in the healthcare industry. Furthermore, the application of protein engineering in disease diagnoses such as cardiovascular disorders, diabetes, and other illnesses, rise in the extensive R&D activities at the academic and industrial level, and increasing scope of protein engineering applications are fueling the demand for Protein engineering in the healthcare market across the globe.
Protein engineering is used as new vaccines, targeted drug delivery vectors, gene therapy, molecular imaging agents, and building blocks for electronic nanodevices or nanomaterials construction. Due to the advantages of large market surface, inexpensive & technological easy and gradual maturity of technology applications, protein engineering has attracted various enterprises to the layout. The protein engineering technology is a faster, more controlled, targeted, and more efficient technique than immobilization to optimize the properties of enzymes used in industrial applications and results in higher enzyme activity and stability. Environmental applications of enzyme and protein engineering are also another important field to remove pollutants. The ability of protein engineering to create and improve protein can produce new biomaterial for medical and engineering applications.
The global protein engineering market segregated Rational Protein Design, Directed Evolution, and Hybrid Approaches based on the technology. The rational protein design segment estimated to witness the highest growth over the analysis timeframe due to the production of artificial proteins that can be applied to the treatment of illnesses such as cancer, neurological diseases, and infectious diseases, genetic engineering, research of enzyme activity in a living system, and biological warfare.
The hybrid approach will grow significantly due to the involvement in the enhancement of redox proteins and enzymes. Also, it holds high importance in the development of nanodevices for biosensing and other major nanotechnology applications.
Based on the product & services, the global protein engineering market is categorized into instruments, consumables, and software & services. The Instruments segment held for a significant market share in 2019 and will gain maximum market revenue by 2027. It is attributable to technological advancement and widespread application across the medical, pharmaceutical, and food industries. These technologies include mass spectrometry, gel electrophoresis, and computational prediction programs and facilitate efficient characterization, identification of proteomes, and determination of function, critical aspects of protein engineering.
The software & service segment is poised to witness significant growth over the forecast period as it includes drug development with the reduction of overall expenditure.
Based on the protein type, the global protein engineering market is classified into insulin, monoclonal antibodies, interferon, erythropoietin, vaccines, growth hormones, coagulation factors, etc. The Monoclonal Antibodies are expected to be the highest revenue share for protein engineering during the forecast period. The segment’s growth is primarily allocated to the growing R&D expenditure and therapeutically advanced monoclonal antibodies for robust immune response.
The vaccines will witness a lucrative growth rate in the estimated period due to the increasing incidence of chronic conditions.
Based on the end-user, the global protein engineering market is segmented into pharmaceuticals and biotechnology companies, CROs, and academic & research institutions. The pharmaceutical & biotechnology companies segment will dominate the global protein engineering market by 2027 due to increasing demand for drug discovery & development and protein-based drugs to treat cancer, diabetes, autoimmunity, and genetic disorders.
The CROs accounted for the immense share of the protein engineering market in 2019 because of the increasing use of protein engineering in the clinical trial setting and controlled-release drugs.
The global protein engineering market is analyzed into North America, Europe, Asia Pacific, South America, and Middle East & Africa by geography.
North America is estimated to project considerable growth over 2020-2026. It is owing to advents in technology, the presence of leading industry competitors serving innovative products, increasing healthcare expenditure.
The Asia Pacific will get a prominent share of the protein engineering market by 2027. The favorable government initiatives that support research activities and the increasing trend of outsourcing by developed economies also serve as key growth impelling factors for emerging countries such as India and China.
Companies such as Abzena Ltd, Agilent Technologies Inc, Biotech Corporation, Bruker Corporation, Bio-Rad Laboratories Inc, CodexisInc, Creative Biolabs, Danaher Corporation, GenScript Biotech Corporation, Innovagen AB, New England Biolabs Inc, Promega Corporation, PerkinElmer, Waters Corporation, Takara Bio Inc, Merck KGaA and Thermo Fisher Scientific Inc are the key players in the global protein engineering market.
By Technology
By Product & Services
By Protein Type
By End-User
By Region
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