Protein Engineering Market Size, Share, Industry Report Forecast 2023-2028

IMARC Group, a leading market research company, has recently releases report titled “Protein Engineering Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028.” The study provides a detailed analysis of the industry, including the global protein engineering market share, size and  forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.

How Big is the Protein Engineering Market?

The global protein engineering market size reached US$ 3.0 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 5.7 Billion by 2028, exhibiting a growth rate (CAGR) of 11.2% during 2023-2028.

What is Protein Engineering?

Protein engineering refers to the method that involves the synthesis of new proteins or manipulation of the existing structure or sequence to achieve the desired properties. It utilizes the recombinant deoxyribonucleic acid (DNA) technology or chemical synthesis to change the individual amino acids in a standard substance to develop a novel protein with enhanced functions, such as better stability to organic solvents, temperature, or extremes of pH. Protein engineering is widely used for the production of enzymes in large quantities for use in industrial settings. In addition to this, researchers have successfully arranged various kinds of proteins tailored to research, industry, medicine, health, and biotechnology applications across the globe.

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What are the growth prospects and trends in the protein engineering industry?

The inflating investments in synthetic biology and the improving focus toward innovative drug development are among the primary factors driving the protein engineering market. Besides this, the launch of several policies by the government bodies to fund research and development (R&D) projects and organize awareness programs about this process is further augmenting the market growth.

Moreover, the significant shift toward protein therapeutics from non-protein medicines, owing to their associated positive clinical outcomes, and the ongoing research for applications of protein engineering in the agrochemical industry to generate enzymes with enhanced functionality to improve the crop yield or facilitate biofuel production are also catalyzing the global market. Apart from this, the elevating requirement for recombinant monoclonal antibodies (mAbs) to treat various diseases, including cancer, autoimmune disorders, transplant rejections, and other conditions, is acting as another significant growth-inducing factor.

Furthermore, the expanding healthcare infrastructure, the escalating demand for personalized medicines, the rising need for biosimilars and biologics, and the growing popularity of proteomics-based drug discovery projects are anticipated to propel the protein engineering market over the forecasted period.

What is included in market segmentation?

The report has segmented the market into the following categories:

Breakup by Product & Services:

• Instruments
• Reagents
• Services and Software

Breakup by Protein Type:

• Insulin
• Monoclonal Antibodies
• Coagulation Factors
• Vaccines
• Growth Factors
• Others

Breakup by Technology:

• Irrational Protein Design
• Rational Protein Design

Breakup by End User:

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

Market Breakup by Region:

• North America (United States, Canada)
• Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
• Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
• Latin America (Brazil, Mexico, Others)
• Middle East and Africa

Who are the key players operating in the industry?

The report covers the major market players including:

Abzena Ltd., Agilent Technologies Inc., Amgen Inc., Bio-Rad Laboratories Inc., Bruker Corporation, Codexis Inc., Danaher Corporation, Eli Lilly and Company, General Electric Company, Merck KGaA, Novo Nordisk A/S, PerkinElmer Inc., Thermo Fisher Scientific Inc. and Waters Corporation.

If you require any specific information that is not covered currently within the scope of the report, we will provide the same as a part of the customization.

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