The increasing research in protein engineering and rising government funding for new drug discovery are expected to be some major drivers for the market.
According to the current analysis of Reports and Data, the Protein Engineering market was valued at USD 1.86 billion in 2019 and is expected to reach USD 4.77 billion by the year 2027, at a CAGR of 12.3%. Protein engineering is the process of conception and production of unnatural polypeptides, which is achieved through the modification of different amino acid sequences that are found in nature. With the wide application of protein engineering, various synthetic protein structures and functions can now be designed completely using a computer and produced in the laboratory using various methods.
With the advent of technology, the rising demand is expected to provide traction to the market. For instance, Computational protein design holds a potential promise to revolutionize protein engineering. Protein engineering is significantly in demand as it can develop useful or valuable proteins. It is known to be an emerging research field that helps researchers in understanding the protein folding and recognition used for protein design principles. Protein engineering market is triggered owing to various reasons such as availability of immense information regarding 3D protein structure, advancement in structural bioinformatics, novel protein design algorithms, and other factors that have made it successfully possible to use computational approaches for research and development in protein engineering. Strategic utilization of approaches that have been discovered with research has enabled better stability and increased catalytic activity of the protein. Moreover, it has increased its applicability in various fields that will further expand the market. Protein engineering has also evolved to become a potent tool contributing considerably to the developments in both synthetic biology and metabolic engineering. The rising funding for synthetic biology by the government and other healthcare institutions may drive the industry extensively in the future. Furthermore, the substantial ongoing research in the drug discovery process that finds treatments and cure for various diseases in nature is expected to fuel the market widely in the forecast period. The growing technological advancements and innovative instruments useful for protein engineering may drive the market extensively in the future. Also, the emergence of new diseases due to microorganisms may also trigger the market widely in the future.
Although, factor such as high cost of instrumentation and lack of skill professional may hamper the protein engineering industry in the forecast period.
WHO is focused on the latest scientific findings and knowledge on COVID-19. Various researchers and scientists are discovering new ways to tackle COVID-19 infection. Furthermore, the market of protein engineering is also going to get significantly affected due to the multiple kinds of research which are being carried out in this field. With the advent of technology, improving protein stability is an essential goal clinical and industrial applications, however no commonly accepted and widely used strategy for efficient engineering is known. Furthermore, during the COVID-19 outbreak in Protein Engineering Market to be driven, the Protein engineering market is significantly impacted by lab automation. Market players are focusing on a research-based approach that will provide traction to the market. For instance, Vir Biotech IDs two antibodies that could be effective in preventing and treating COVID-19. However, the high requirement of funds is expected to hamper the market during the forecast period.
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Key participants in the market include
Thermo Fisher Scientific, Danaher Corporation, Agilent Technologies, Bio-Rad Laboratories, Bruker Corporation, GE Healthcare, Waters Corporation, Sigma-Aldrich Corporation, Genscripts USA, Inc. and Perkinelmer, Inc.
Technological advancements and rapid digitization have streamlined the daily operations of the pharmaceutical industry. Increasing spending on medicine due to growing geriatric populace, rising incidence of chronic diseases, increasing number of product launches, and growing number of R&D activities are some key factors contributing to revenue growth of the market. Increasing focus on patient engagement solutions, rising focus to cater to growing unmet clinical demand, adoption of advanced technologies to streamline workflows in healthcare sector, and availability of skilled healthcare professionals has been positively impacting the pharma & healthcare industry. The emergence of COVID-19 pandemic has further increased focus on healthcare facilities, teleconsultation and telemedicine, and increased burden on the healthcare industry compelling governments and companies to invest heavily to cater to the growing global demand.
Further key findings from the report suggest
Innovations in the protein engineering industry has contributed to the high growth of the industry. For instance, in March 2020, scientists from the Unites States and Taiwan introduced a new protein based on the sonification which was made using machine learning technique.
In 2019, creative Biolabs launched a new product into the industry known as cd25 monoclonal antibody. The antibody can be widely used in conditions like rejection by the body in organ transplantation significantly kidney transplants.
Various collaborations are expected to fuel the industry growth and is known to have anticipated the market growth. For instance, in 2019, Agilent Technologies acquired BioTek Instruments. The merger allowed Agilent to establish itself in the immunotherapy and immune-oncology segments and strengthen its position.
In March 2020, Gilead announced its acquisition with Forty-Seven for around 4.9 billion USD. The acquisition, would particularly help Gilead to expand itself in the immuno-oncology department.
Regionally, the North American segment occupied the largest share in the industry owing to the factors including increasing research and development expenditure and the presence of highly advanced instruments and equipment for drug discovery. The Asia Pacific region is expected to be the fastest growing segment owing to the rising government initiatives and funding for protein-based drug discovery and increasing technological advancements.
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For the purpose of this report, Reports and Data has segmented the Protein Engineering market on the basis of product, type, technology, end use and region:
By Product Outlook (Revenue in Million USD; 2017-2027)
Software & Services
By Type Outlook (Revenue in Million USD; 2017-2027)
By Technology Outlook (Revenue in Million USD; 2017–2027)
Rational Protein Design
Irrational Protein Design
By End Use Outlook (Revenue in Million USD; 2017–2027)
Contract Research Organizations
Academic Research Institutes
Regional Outlook (Revenue, USD Billion; 2017-2027)
In conclusion, the report offers a comprehensive analysis of the factors expected to drive the global Protein Engineering market growth over the forecast period of 2021-2027. The report is an all-inclusive document covering the market landscape and a futuristic perspective on its growth and progress. The report also provides an analysis of the entry-level driving and restraining factors for the new entrants contributing to the market. The report also offers strategic recommendations to the established players as well as new entrants to help them gain a strong foothold in the market.
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