Protein Engineering Market Projected to Grow at a Steady Pace During 2022-2028

According to a research report by Stratview Research, the Protein Engineering Market size was valued at USD 2.6 billion in 2021 and is likely to grow at a CAGR of 12.49% during 2022-2028 to reach USD 5.96 billion in 2028. 

Market Drivers

The major factors that are driving the protein engineering market, are-

• Increasing investments in synthetic biology,
• mounting focus on protein-based drug development by biotechnology and pharmaceutical companies

Research Methodology

This report offers high-quality insights and is the outcome of detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders and validation and triangulation with Stratview Research’s internal database and statistical tools. More than 1,000 authenticated secondary sources, such as company annual reports, fact book, press release, journals, investor presentation, white papers, patents, and articles have been leveraged to gather the data. We conducted more than 10 detailed primary interviews with the market players across the value chain in all four regions and with industry experts to obtain both the qualitative and quantitative insights.

Segments' Analysis

Stratview Research has segmented the “Protein Engineering Market” by Products & Services Type (Instruments, Consumables, and Software & Services), by Protein Type (Monoclonal Antibodies, Erythropoietin, Interferons, Vaccines, Colony-Stimulating Factors, Growth Hormones, Coagulation Factors, and Others), by Technology Type (Rational Protein Design, Irrational Protein Design), by End-User Type (Biopharmaceutical Companies, Contract Research Organizations, and Academic Research Institutes), and by Region (North America, Europe, Asia-Pacific, and Rest of the World).

Based on the products & services type, the market is segmented as instruments, consumables, and software & services. The instrument segment held the largest share of the market in 2021 and is expected to remain dominant during the forecast period. Technological advancements and the high price of mass spectroscopy and crystallography instruments are the major factors leading to the dominance of the instrument segment.

Based on the protein type, the market is segmented as monoclonal antibodies, erythropoietin, interferons, vaccines, colony-stimulating factors, growth hormones, coagulation factors, and others. The monoclonal antibodies segment dominated the market in 2021 and is expected to maintain its position during the forecast period. Increasing demand for monoclonal antibodies for the treatment of cancer, neurological diseases, and infectious diseases is the major factor behind its dominance.

In terms of regions, North America is estimated to be the largest market during the forecast period. The presence of well-established CROs, increasing investment in R&D, and the availability of the latest techniques and instruments for drug discovery research are the major factors behind the dominance of the North American market.

Asia-Pacific is expected to be the fastest-growing market during the forecast period. Advancements in genomics and proteomics research and government initiatives and funding for protein-based drug research in key countries are the major factors behind the extraordinary growth of the region’s market.

Leading Players Covered in the Protein Engineering Market Report:

The following are the key players in the Protein Engineering Market -

• Bio-Rad Laboratories, Inc.,
• Thermo Fisher Scientific, Inc.,
• Bruker Corporation,
• Agilent Technologies, Inc.,
• Waters Corporation,
• Danaher Corporation,
• Codexis, Inc.,
• New England Biolabs, Inc.,
• PerkinElmer,
• Innovagen AB,
• GE Healthcare,
• CUSABIO TECHNOLOGY LLC,
• Promega Corporation,
• Merck KGaA,
• GenScript Biotech Corporation,
• Takara Bio, Inc.,
• Enantis S.R.O.,
• InvivoGen,
• Pace Analytical,
• Aspira Chemical,
• Zymeworks, Inc.,
• Abzena, Ltd.,
• PhyNexus, Inc.,
• ProteoGenix,
• Creative Biolabs.

To develop better customer understanding, the team at Stratview Research employ a range of quantitative and qualitative market research approaches. This report aims to help the users make use of the available data in a way, that profits the business and leads to growth.

Stratview Research is interested in learning what additional information, if included, would be beneficial to the users’ business. We also customise reports based on your preferred countries/regions, segmentations, companies, and so on. You can share any specific requirements related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry to sales@stratviewresearch.com

About Us:

Stratview Research is a global market research firm that delivers precise data and ground-breaking business study, helping organizations of all sizes make suitable decisions. We gather information for our clients, assisting them to address various challenges, and trends related to their market.

Article source: https://article-realm.com/article/Business/Careers/35326-Protein-Engineering-Market-Projected-to-Grow-at-a-Steady-Pace-During-2022-2028.html