25th September 2019 – Global Protein
Engineering Market is anticipated to reach USD 3.09 billion by 2025.
Protein engineering is a method to design novel proteins or enzymes with the
intention to have functional properties. Protein engineering is primarily based
on the use of recombinant DNA technology to alter the amino acid sequences in
terms of affinity, solubility, activity, resistance, etc.
The factors that propel the growth of
the Protein Engineering industry include increasing occurrence of lifestyle
associated diseases, increasing consciousness regarding healthcare, increasing
healthcare expenditure, and growing adoption of protein-based drugs. On the
other hand, there are factors that may hamper the growth of the market
including lack of skilled expertise, maintenance, and high price of tools as
well as instruments utilized during protein engineering. Protein Engineering
Market is anticipated to grow at a significant CAGR of 15.9% in the upcoming
period as the scope, product types, and its applications are increasing across
the globe.
The market may be explored by product
type, technology, protein type, end users, and geography. The market may be
explored by product type as services and software, instruments, and reagents.
The “Instruments” segment dominated the market in 2016 and is anticipated to
maintain its dominance in the forecast period.
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The key technologies that could be
explored in the Protein Engineering industry include Irrational Protein Design,
and Rational Protein Design. The “Rational Protein Design” segment dominated
the market in 2016 and is anticipated to maintain its dominance by 2025 owing
to highly accepted technology in the market in 2014. This huge share could be
ascribed to its advantages over irrational protein design technology.
The Protein Engineering Market could be
explored based on protein type as Insulin, Erythropoietin, Vaccines, Monoclonal
Antibodies, Interferon, Growth hormones, Colony Stimulating factor, Coagulation
Factor, Others (Follicle Stimulating Hormones, Enzyme Replacement, and
Interleukins). The “Monoclonal Antibodies” segment dominated the market in 2016
and is anticipated to maintain its dominance by 2025 owing to increase in
acceptance for several treatments such as autoimmune diseases, and cancer.
Protein Engineering industry could be
analyzed by end user as contract research organizations, academic research
institutes, and pharmaceutical & biotechnology companies. The
“Pharmaceutical and Biotechnology Companies” segment dominated the market. The
factors contributing to the dominant share include increase in R&D funds in
the pharmaceutical segment, and technological advancements in protein
engineering.
North America is anticipated to hold the
major share of the Protein Engineering Market. The factors that attribute to
the dominant share include growing occurrence of diseases and rising adoption
of protein-based drugs in the region. The North American market is followed by
Europe. On the other hand, Asia Pacific is estimated to show high growth rates
in the upcoming period in the global market. In the Asia Pacific region, countries
such as China and India are expected to be the fastest-growing markets.
Some of the key players that fuel the
growth of the Protein Engineering industry comprise Eli Lilly and Company,
Thermo Fisher Scientific Inc., Merck KGaA, Bruker Corporation, PerkinElmer
Inc., Agilent Technologies, Waters Corporation, Novo Nordisk A/S, Bio-Rad
Laboratories Inc., Amgen Inc., and among others. The leading companies are
taking up partnerships, mergers and acquisitions, and joint ventures in order
to boost the inorganic growth of the industry.
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