Protein Engineering Market Report by Product & Services (Instruments, Reagents, Services and Software), Protein Type (Insulin, Monoclonal Antibodies, Coagulation Factors, Vaccines, Growth Factors, and Others), Technology (Irrational Protein Design, Ration

Protein Engineering Market Report by Product & Services (Instruments, Reagents, Services and Software), Protein Type (Insulin, Monoclonal Antibodies, Coagulation Factors, Vaccines, Growth Factors, and Others), Technology (Irrational Protein Design, Rational Protein Design), End User (Pharmaceutical and Biotechnology Companies, Academic Research Institutes, Contract Research Organizations), and Region 2024-2032

The global protein engineering market size reached US$ 3.3 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 7.8 Billion by 2032, exhibiting a growth rate (CAGR) of 9.9% during 2024-2032.

Protein engineering refers to the process of developing or changing a protein sequence to achieve the desired result. It involves the synthesis of new proteins or amendments in the existing structure or sequence and employs recombinant deoxyribonucleic acid (DNA) technology to alter amino acid sequences for novel and enhanced functions. It is widely utilized for the production of enzymes or proteins in large quantities for use in industrial settings. In recent years, researchers have successfully engineered a wide range of proteins tailored to medicine, research, industry, health, and biotechnology applications, which is escalating their demand across the globe.

Protein Engineering Market Trends:
The rising investments in synthetic biology and the improving focus toward protein-based drug development represent the primary factors driving the market growth. Additionally, there has been a significant shift toward protein therapeutics from non-protein drugs due to their associated positive clinical outcomes. This, in confluence with the widespread prevalence of protein-deficient diseases, is increasing the demand for protein engineering. Furthermore, several favorable initiatives undertaken by the government of various countries, such as increased funding for research and development (R&D) activities in the field of protein engineering, are propelling the market growth. Besides this, the advent of recombinant monoclonal antibodies (mAbs) and the increasing usage of monoclonal antibodies to treat various diseases, such as cancer and autoimmune diseases, are accelerating product adoption rates. Moreover, the ongoing research for applications of protein engineering in the agrochemical industry to generate enzymes with enhanced function to increase the crop yield or facilitate biofuel production is catalyzing the market growth. Other factors, including the escalating demand for personalized medicines, growing need for biosimilars and biologics, improving healthcare infrastructure, technological advancements, and product innovations, are also creating a positive outlook for the market.

Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global protein engineering market report, along with forecasts at the global, regional and country level from 2024-2032. Our report has categorized the market based on product & services, protein type, technology and end user.

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

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

Competitive Landscape:
The competitive landscape of the industry has also been examined along with the profiles of the key players being 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.

Key Questions Answered in This Report

1. What was the size of the global protein engineering market in 2023?
2. What is the expected growth rate of the global protein engineering market during 2024-2032?
3. What are the key factors driving the global protein engineering market?
4. What has been the impact of COVID-19 on the global protein engineering market?
5. What is the breakup of the global protein engineering market based on the product and services?
6. What is the breakup of the global protein engineering market based on the protein type?
7. What is the breakup of the global protein engineering market based on the technology?
8. What is the breakup of the global protein engineering market based on the end user?
9. What are the key regions in the global protein engineering market?
10. Who are the key players/companies in the global protein engineering market?