Protein Engineering Market

Global Protein Engineering Market Size, Share & Trends Analysis Report By Product (Instruments, Reagents, and Software & Services), By End-use, By Technology, By Protein Type, By Regional Outlook and Forecast, 2024 - 2031

Report Id: KBV-23184 Publication Date: June-2024 Number of Pages: 320
2023
USD 2.4 Billion
2031
USD 7.8 Billion
CAGR
16.0%
Historical Data
2020 to 2022

Market Report Description

The Global Protein Engineering Market size is expected to reach $7.8 billion by 2031, rising at a market growth of 16.0% CAGR during the forecast period.

Protein engineering is crucial in developing and optimizing growth factors, signaling proteins that regulate cell growth, proliferation, and differentiation. This engineering has been used to develop novel growth factors with enhanced specificity and potency. Consequently, the growth factors segment would acquire nearly 12% of the total market share by 2031. To enhance its effectiveness in promoting blood vessel formation, for instance, scientists have engineered variants of vascular endothelial growth factor (VEGF), a key regulator of angiogenesis.

Protein Engineering Market Size - Global Opportunities and Trends Analysis Report 2020-2031

By abandoning the conventional "one-size-fits-all" approach in favor of a more individualized treatment paradigm, personalized medicine is currently transforming the healthcare infrastructure. Personalized medicine harnesses the power of genomic and molecular data to guide clinical decisions. By analyzing a patient's genetic profile, healthcare providers can identify specific genetic mutations, biomarkers, and pathways involved in their disease. Therefore, with the continuous evolution of this engineering and genomic technologies, the potential for personalized medicine to revolutionize healthcare and enhance patient outcomes will inevitably expand, propelling the market's expansion. Additionally, Innovations in technologies like CRISPR, synthetic biology, and computational protein design enhance the ability to engineer proteins with desired characteristics. Synthetic biology has been used to engineer yeast and bacteria to produce complex pharmaceuticals like artemisinin, an antimalarial drug, which traditionally had a complex and costly extraction process from plants. Thus, the advancements in this engineering technologies like CRISPR, synthetic biology, and computational protein design are driving significant growth in the market.

The COVID-19 pandemic accelerated the digital transformation of the healthcare industry, leading to greater utilization of computational tools and artificial intelligence in this engineering. This digitalization brought the potential to streamline this engineering process, reduce development timelines, and enhance the efficiency of drug discovery and development efforts. The demand for engineering solutions that leverage these technologies grew as the healthcare industry embraced digital technologies. Therefore, the pandemic had an overall positive impact on the market.

However, Developing engineered proteins requires substantial investment in various areas, including advanced laboratory equipment, skilled personnel, research materials, and infrastructure. Personnel costs also contribute significantly to the engineering R&D. Recruiting and retaining skilled scientists, biotechnologists, and bioinformaticians proficient in this engineering techniques can be costly, especially in regions with high competition for talent. Hence, these factors may hamper the growth of the market.

Driving and Restraining Factors
Protein Engineering Market
  • Emergence of personalized medicine
  • Advancements in protein engineering technologies
  • Increasing prevalence of chronic diseases
  • High costs of research and development
  • Challenges in protein folding, stability, and expression
  • Rising investment in biotechnology and pharmaceuticals
  • Expanding applications in industrial and environmental sectors
  • Issues associated with intellectual property
  • Long development timelines and uncertainty in clinical outcomes

Product Outlook

Based on product, the market is characterized into instruments, reagents, and software & services. The reagents segment procured 35% revenue share in the market in 2023. Reagents, including enzymes, antibodies, buffers, and substrates, are essential in the engineering experiments. The increasing adoption of recombinant DNA technology and protein expression systems has driven the demand for high-quality reagents, supporting the growth of this segment.

End-use Outlook

Based on end-use, the market is segmented into academic research institutes, contract research organizations (CROs), pharmaceutical & biotechnology companies. The contract research organizations (CROs) segment witnessed 38.5% revenue share in the market in 2023. CROs are vital in providing the engineering services to pharmaceutical, biotechnology, and academic research institutions, offering expertise and resources for protein design, expression, purification, and characterization.

Technology Outlook

On the basis of technology, the market is classified into rational protein design, directed evolution, hybrid approach, de novo protein design, and others. The hybrid approach segment recorded 34.2% revenue share in the market in 2023. The hybrid approach combines elements of rational protein design and directed evolution, leveraging computational modeling and experimental evolution to engineer proteins with improved or novel functions.

Protein Engineering Market Share and Industry Analysis Report 2023

Protein Type Outlook

By protein type, the market is divided into insulin, monoclonal antibodies, vaccines, growth factors, colony stimulating factors, coagulation factors, interferon, and others. The insulin segment garnered 16.75% revenue share in the market in 2023. Insulin, a life-saving therapeutic protein for diabetic patients, exemplifies the crucial role of this engineering in chronic disease management. The engineering advancements have produced a variety of insulin formulations that more closely resemble the body's endogenous insulin secretion.

Free Valuable Insights: Global Protein Engineering Market size to reach USD 7.8 Billion by 2031

Regional Outlook

Region-wise, the market is analyzed across North America, Europe, Asia Pacific, and LAMEA. The North America segment garnered 39.8% revenue share in the market in 2023. The region's strong biotechnology and pharmaceutical sectors, in addition to substantial investments in the engineering research and development, are factors contributing to this.

Protein Engineering Market Report Coverage
Report Attribute Details
Market size value in 2023 USD 2.4 Billion
Market size forecast in 2031 USD 7.8 Billion
Base Year 2023
Historical Period 2020 to 2022
Forecast Period 2024 to 2031
Revenue Growth Rate CAGR of 16.0% from 2024 to 2031
Number of Pages 320
Number of Tables 510
Report coverage Market Trends, Revenue Estimation and Forecast, Segmentation Analysis, Regional and Country Breakdown, Porter’s 5 Forces Analysis, Company Profiling, Companies Strategic Developments, SWOT Analysis, Winning Imperatives
Segments covered Product, End-use, Technology, Protein Type, Region
Country scope
  • North America (US, Canada, Mexico, and Rest of North America)
  • Europe (Germany, UK, France, Russia, Spain, Italy, and Rest of Europe)
  • Asia Pacific (China, Japan, India, South Korea, Singapore, Malaysia, and Rest of Asia Pacific)
  • LAMEA (Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria, and Rest of LAMEA)
Companies Included Agilent Technologies, Inc., Bruker Corporation, Thermo Fisher Scientific, Inc., Waters Corporation, Bio-Rad Laboratories, Inc., Merck KGaA, Danaher Corporation, Genscript Biotech Corporation, Amgen, Inc. and Promega Corporation
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List of Key Companies Profiled

  • Agilent Technologies, Inc.
  • Bruker Corporation
  • Thermo Fisher Scientific, Inc.
  • Waters Corporation
  • Bio-Rad Laboratories, Inc.
  • Merck KGaA
  • Danaher Corporation
  • Genscript Biotech Corporation
  • Amgen, Inc.
  • Promega Corporation

Protein Engineering Market Report Segmentation

By Product

  • Instruments
  • Reagents
  • Software & Services

By End-use

  • Pharmaceutical & Biotechnology Companies
  • Contract Research Organizations (CROs)
  • Academic Research Institutes

By Technology

  • Rational Protein Design
  • Hybrid Approach
  • Directed Evolution
  • De Novo Protein Design
  • Others

By Protein Type

  • Monoclonal Antibodies
  • Insulin
  • Vaccines
  • Growth Factors
  • Interferon
  • Colony Stimulating Factors
  • Coagulation Factors
  • Others

By Geography

  • North America
    • US
    • Canada
    • Mexico
    • Rest of North America
  • Europe
    • Germany
    • UK
    • France
    • Russia
    • Spain
    • Italy
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Singapore
    • Malaysia
    • Rest of Asia Pacific
  • LAMEA
    • Brazil
    • Argentina
    • UAE
    • Saudi Arabia
    • South Africa
    • Nigeria
    • Rest of LAMEA

Frequently Asked Questions About This Report

This Market size is expected to reach $7.8 billion by 2031.

Emergence of personalized medicine are driving the Market in coming years, however, High costs of research and development restraints the growth of the Market.

Agilent Technologies, Inc., Bruker Corporation, Thermo Fisher Scientific, Inc., Waters Corporation, Bio-Rad Laboratories, Inc., Merck KGaA, Danaher Corporation, Genscript Biotech Corporation, Amgen, Inc. and Promega Corporation

The expected CAGR of this Market is 16.0% from 2023 to 2031.

The Instruments segment is generating the highest revenue in the Market by Product in 2023; thereby, achieving a market value of $3.8 billion by 2031.

The North America region dominated the Market by Region in 2023, and would continue to be a dominant market till 2031; thereby, achieving a market value of $3 billion by 2031.

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