Protein Engineering Market Size, Share, Trends, Application Analysis and Growth Forecast to 2027

The global protein engineering market is expected to exhibit a CAGR of 6.2% over the forecast period from 2017 to 2023, according to the latest research report from Market Research Future (MRFR). The global protein engineering market is set to rise at a robust CAGR over the forecast period due to the growing demand for protein engineering methodologies in medical research as well as other related applications in life sciences and commercial end-use industries.

Protein engineering is the process of creating specially designed proteins for research and medical purposes. Proteins play a key role in the human body and are also responsible for enabling the proper function of several organs in the body in the form of enzymes. The properties of proteins and their widespread biological application have led to their growing use in biomedical applications, leading to a strong growth in demand from the global protein engineering market. The growing demand for protein engineering in the healthcare sector is likely to remain a major driver for the global protein engineering market over the forecast period, as the use of novel technologies for improving healthcare outcomes has grown rapidly over the last few years.

On the other hand, the expensive instrumentation used in protein engineering is likely to hinder the growth of the global protein engineering market over the forecast period. The instruments also require large-scale maintenance and trained personnel, which are also significant restraints on the global protein engineering market.

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Competitive Analysis

Leading players in the global protein engineering market include Agilent Technologies, Bio-Rad Laboratories Inc., GE Healthcare, Sigma-Aldrich Corp., Waters Corp., Thermo Fisher Scientific, Perkin Elmer, Bruker Corp., and AB-Sciex.

In April 2019, Huatai Securities made an investment of close to USD 15 million in Chinese genetic and protein engineering startup Abiochem Biotechnology Co. Ltd.

Segmentation

The protein engineering market has been segmented based on type, method, application, and end-user.

  • By Type, the protein engineering market has been segmented into instrument, reagents, and services and software.
  • By Method, the protein engineering market has been segmented into rational protein design and directed evolution.
  • By Application, the protein engineering market has been segmented into food and detergent industries, environment applications, medical applications, biopolymer production, and nanobiotechnology.
  • By End-user, the protein engineering market has been segmented into academic research institutes, pharmaceuticals and biotechnology companies, and contract engineering organizations.

Regional Analysis

Region-wise, the protein engineering market has been segmented into North America, the Middle East & Africa (MEA), Europe, and Asia Pacific (APAC).

North America is the dominant protein engineering market. The expansion of the biotechnology and pharmaceutical industry in the region is creating a supportive dais for the growth of the protein engineering market. In addition, the availability of technologically advanced devices and instruments for R&D activities is further supporting the growth of the market. The US, followed by Canada, are the major contributors to the North America market.

Europe is the second-largest market for protein engineering. The developed research sector in the region has aptly supported the growth of the market. Government support in the funding for protein engineering and increased emphasis on drug discovery are other factors driving the market growth. The UK, France, and Germany are the key country-specific markets within Europe.

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The APAC protein engineering market is poised to showcase noteworthy growth over the forecast period. The market growth is triggered by surging prevalence of heart diseases, diabetes, obesity, and other chronic diseases which induce the need for new and advanced treatment technologies.

The MEA protein engineering market is exhibiting slow but steady growth. The underdeveloped regions have high unmet medical needs due to which there lies a host of opportunities for the expansion of the market. Improving healthcare infrastructure and heightened demand for new drugs and devices are propelling the growth of the market.

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