Increasing demand for protein-based drugs and rising investments by governments for protein engineering are driving the demand of the market.
According to a recent analysis by Emergen Research, the global market for protein engineering is anticipated to reach USD 6.17 billion by 2027. This market’s expansion can be ascribed to the increased use of protein-based medications over non-protein medications. The government’s expanding initiatives, such as funding for encouraging research activities or rising investments for the development of the healthcare infrastructure, are also anticipated to contribute to the market’s expansion.
Protein engineering is frequently utilised to get around drug-related flaws and has the potential to improve the affinity and effectiveness of molecules for a variety of purposes, including heart repair. As a result, there is now an unheard-of demand for these instruments, which has significantly increased their use for the creation of cutting-edge treatments and sped up market development.
For instance, increasing use of protein engineering methods led to the development of recombinant monoclonal antibodies (mAbs). There are now more options for the therapy of various malignancies, transplant rejections, autoimmune illnesses, and other conditions as a result of the humanization and chimerization of mAbs and other methods to enhance their in vivo activity.
Protein Engineering Market Trends
Market growth is anticipated to be boosted by the rising preference for protein therapies over non-protein pharmaceuticals. The high choice is anticipated to be a result of long-term clinical results pertaining to protein medication therapies.
Protein engineering is frequently employed to address drug-related shortcomings that have the potential to enhance the efficacy and affinity of molecules in a variety of applications, including heart repair. This exceptional demand has significantly increased the use of protein engineering techniques in the creation of cutting-edge protein therapies, hastening the market’s growth.
The main factor producing influence is the growing urgency to reduce expensive research and development expenditures in clinical trials. The high rate of medicine failure during preclinical development leads to exorbitant costs. The process of commercialising and selling new medicinal compounds is time-consuming and difficult. About 50% of the compounds experience failure in the earliest clinical trials, adding to the overall expense.
Some Key Highlights from the Report
Due to the growing use of bioinformatics tools for protein analysis, the Rational Protein Design category dominated the market in 2019 with a share of 53.2%.
In 2019, monoclonal antibodies held the biggest market share as a result of rising R&D expenditures for the creation of therapeutically enhanced monoclonal antibodies.
Because of the instruments’ technological advancements, they dominated the market in 2019 with a share of 56.3%.
Due to the increasing use of sophisticated protein engineering techniques, biopharmaceutical companies predominated the end-user market.
The largest portion of the global market in 2019 belonged to North America, closely followed by Europe. The high share of the North American market is due to factors including the existence of reputable CROs, increased R&D spending, and the accessibility of the most recent methods and tools for drug discovery research. The market in Asia Pacific, on the other hand, is anticipated to expand at the highest CAGR during the projection period. This is mostly due to improvements in genomes and proteomics research as well as government initiatives and support for the development of protein-based drugs in various Asia Pacific nations.
Key participants include Danaher Corporation, Thermo Fisher Scientific, Inc., Agilent Technologies, Inc., Waters Corporations, Bio-Rad Laboratories, Merck KGaA, Bruker Corporation, Codexis, Inc., Genscript Biotech Corporation, and GE Healthcare, among others.
Emergen Research has segmented the global Protein Engineering Market on the basis of Technology, Protein Type, Product, End-User, and region:
Technology Outlook (Revenue, USD Billion; 2017-2027)
- Directed Evolution
- Rational Protein Design
- Hybrid approach
Protein Type Outlook (Revenue, USD Billion; 2017-2027)
- Growth Hormones
- Monoclonal Antibodies
- Coagulation factors
- Colony Stimulating Factors
Product Class Outlook (Revenue, USD Billion; 2017-2027)
- Software & Services
End-User Class Outlook (Revenue, USD Billion; 2017-2027)
- Contract Research Organizations
- Academic Research Institutes
- Biopharmaceutical Companies
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