New York, NY, Feb. 15, 2019 (GLOBE NEWSWIRE) -- Zion Market Research has published a new report titled “Protein Engineering Market by Product Type (Instruments, Reagents, and Services & Software), by Technology (Rational Protein Design and Irrational Protein Design), by Protein Type (Monoclonal Antibodies, Insulin, Erythropoietin, Interferon, Colony Stimulating Factor, Growth Hormones, Coagulation Factor, Vaccines, and Others), and by End-User (Academic Research Institutes, Pharmaceutical & Biotechnology Companies, and Contract Research Organizations): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2018–2024”. According to the report, the global protein engineering market was valued at approximately USD 1,093 million in 2018 and is expected to generate around USD 2,595 million by 2024, at a CAGR of around 15.5% between 2019 and 2024.
Protein engineering is defined as the procedure to develop novel, valuable, and useful proteins. Protein engineering can be performed with two major techniques—rational protein designing and directed evaluation. Proteins have high specificity and less immunogenicity. Proteins can be modified in various ways to be used as therapeutic agents. By using protein engineering technique, unnatural proteins can be utilized for valuable clinical research.
Browse through 83 Tables & 31 Figures spread over 110 Pages and in-depth TOC on “Global Protein Engineering Market Size: Industry Share, Growth, Segments, Analysis and Forecast, 2018–2024”.
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Since the last few years, protein engineering has effectively enhanced various protein properties, especially the high demand for industrial biocatalysts, such as protease, esterase, lipase, cellulase, amylase, xylanase, etc. The global protein engineering market is likely to be majorly driven by continuously developing pharmaceutical industries, biotechnological innovations, increasing focus toward targeting specific drug development, rising clinical and analytical techniques, and a substantial increase in research funding over the estimated timeframe.
By product type, the market is segmented into instruments, reagents, and services and software. The instruments segment held a major revenue share of the global protein engineering market in 2018. Based on technology, the global protein engineering market is segmented into rational protein design and irrational protein design. The rational protein design segment is anticipated to grow rapidly over the forecast time period. The protein type segment of the global protein engineering market is segmented into monoclonal antibodies, insulin, erythropoietin, interferon, colony stimulating factor, growth hormones, a coagulation factor, vaccines, and others. Monoclonal antibodies are anticipated to hold the largest market share in the future, owing to their high adoption for numerous therapies, such as cancer, autoimmune diseases, etc. Academic research institutes, pharmaceutical, and biotechnology companies, and contract research organizations comprise the end-user segment of the global protein engineering market. Pharmaceutical and biotechnology companies held a prominent share of the global protein engineering market followed by contract research organizations in 2018.
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By region, North America held a dominant share of the global protein engineering market in 2018 and is anticipated to continue its regional domination over the forecast years as well. This can be attributed to the established pharmaceutical companies in this region that are extensively involved in the commercialization of advanced engineering tools and promotion of their usage in the research community. At the country level, the U.S. is expected to dominate the North American protein engineering market over the estimated timeframe, due to the rising number of research activities and favorable government initiatives.
Europe is expected to be the second largest regional market for protein engineering and is projected to grow significantly in the years to come, due to the increasing adoption and awareness for diagnostic techniques, the rising prevalence of targeted diseases, and the growing demand for protein-based drugs.
Browse the full “Protein Engineering Market by Product Type (Instruments, Reagents, and Services & Software), by Technology (Rational Protein Design and Irrational Protein Design), by Protein Type (Monoclonal Antibodies, Insulin, Erythropoietin, Interferon, Colony Stimulating Factor, Growth Hormones, Coagulation Factor, Vaccines, and Others), and by End-User (Academic Research Institutes, Pharmaceutical & Biotechnology Companies, and Contract Research Organizations): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2018–2024” Report at https://www.zionmarketresearch.com/report/protein-engineering-market
The Asia Pacific protein engineering market is expected to register the highest CAGR in the future, owing to the presence of several contract research organizations, escalating healthcare IT spending, and unparalleled expansion of the healthcare infrastructure across the region. Additionally, the escalating demand for protein engineering techniques is anticipated to further boost this regional market. Government policies are succoring research activities and the growing trend of outsourcing activities in developed economies is also likely to serve as a key growth driver for the region’s protein engineering market.
The Middle Eastern and African region holds the least growth potential in the global protein engineering market, due to low awareness about advanced technology, high product cost, lack of reimbursement policies, and unfavorable business conditions.
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In the Latin American protein engineering market, Brazil is anticipated to dominate over the estimated timeframe, owing to the increasing investments made in R&D activities, the growing presence of leading players in the regional market, and the rising disposable income.
Some key players of the global protein engineering market are GE Healthcare, AB-Sciex, Agilent Technologies, Sigma-Aldrich Corp., Bio-Rad Laboratories, Inc., Perkin Elmer, Thermo Fisher Scientific, Bruker Corp., and Waters Corp., among others.
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This report segments the global protein engineering market into:
Global Protein Engineering Market: Product Type Analysis
- Instruments
- Reagents
- Services and Software
Global Protein Engineering Market: Technology Analysis
- Rational Protein Design
- Irrational Protein Design
Global Protein Engineering Market: Protein Type Analysis
- Monoclonal Antibodies
- Insulin
- Erythropoietin
- Interferon
- Colony Stimulating Factor
- Growth Hormones
- Coagulation Factor
- Vaccines
- Others
Global Protein Engineering Market: End-User Analysis
- Academic Research Institutes
- Pharmaceutical and Biotechnology Companies
- Contract Research Organizations
Global Protein Engineering Market: Regional Analysis
- North America
- The U.S.
- Europe
- UK
- France
- Germany
- Asia Pacific
- China
- Japan
- India
- Latin America
- Brazil
- The Middle East and Africa
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