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%
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.
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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.
Further key findings from the report suggest
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- 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.
The ongoing pandemic is significantly changing the dynamics of the pharma and healthcare sector. Various countries are facing challenges such as shortage of medicines, vaccines, healthcare devices in hospitals. This is expected to open lucrative growth opportunities for market players in the coming years.
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Competitive Landscape:
The global market comprises various market players operating at regional and global levels. These key players are adopting various strategies such as R&D investments, license agreements, partnerships, merger and acquisitions, collaborations, and joint ventures to gain robust footing in the market.
Top Companies Profiled in the Report:
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.
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Protein Engineering Market Segmentation:
By Product Outlook (Revenue in Million USD; 2017-2027)
- Instruments
- Consumables
- Software & Services
By Type Outlook (Revenue in Million USD; 2017-2027)
- Monoclonal Antibodies
- Erythropoietin
- Interferons
- Vaccines
- Colony-stimulating Factors
- Growth Hormones
- Coagulation Factors
- Others
Regional Outlook:
- North America (U.S., Canada, Mexico)
- Europe (Germany, U.K., Italy, France, BENELUX, Rest of Europe)
- Asia Pacific (China, India, Japan, South Korea, Rest of Asia Pacific)
- Latin America (Brazil, Rest of LATAM)
- Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of Middle East & Africa)
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This study aims to define market sizes and forecast the values for different segments and countries in the coming eight years. The study aims to include qualitative and quantitative perspectives about the industry within the regions and countries covered in the report. The report also outlines the significant factors, such as driving factors and challenges, that will determine the market’s future growth.
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