Global Protein Engineering Market was valued US$ 0.82 Bn in 2017 and is expected to reach US$ 2.58 Bn by 2026, at a CAGR of 15.41 % during a forecast period.
Global Protein Engineering Market
The protein engineering market is segmented into a product, technology, protein type, end user, and region.
In terms of product, protein engineering market is segmented into instruments, reagents, services & software. Based on technology segment, protein engineering market is classified into rational protein design and irrational protein design. Further protein type, protein engineering market is divided into monoclonal antibodies, insulin, and erythropoietin, and interferon, colony stimulating factor, growth hormones, coagulation factor, vaccines, and others. In terms of the end user, the protein engineering market is classified into academic research institutes, pharmaceutical & biotechnology companies, and contract research organizations.
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Based on regions, the global protein engineering market is divided into five main regions are North America, Europe, Asia-pacific, Latin America and Middle East & Africa.
Based on product, services & software product is anticipated to grow at the highest CAGR during the forecast period, owing to ongoing technological advancements in protein engineering industry segment.
In terms of protein type, monoclonal antibodies are the most important as well as quickest increasing segment of the protein engineering protein type market due to the rise in adoption of them for several therapies including cancer and autoimmune diseases.
On the basis of an end user, the pharmaceutical & biotechnology companies are the biggest and quickest-increasing end-user segment. The high increase rate of this segment can be attributed to technological advancements in protein engineering and the growth in R&D budgets in the pharmaceutical market.
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The major driving factor of the global protein engineering market is increasing incidences of diseases to raise demand for novel protein therapeutics. The rising number of government initiatives aimed at enhancing protein engineering capabilities is anticipated to present the market with high growth potential. Furthermore, the emergence of trends in protein identification & tracking, and the increasing use of protein studies in research activities drive the growth of protein engineering market.
Expensive instruments used in protein engineering that require huge maintenance and lack of trained personnel is hindering the market growth.
Lack of trained laboratory professionals is the key challenge of the global protein engineering market
Geographically, North America region is dominating the market followed by Europe and APAC, regions due to the rising prevalence of lifestyle associated diseases and increasing adoption of protein-based drugs in the regions.
The key player operating in global protein engineering market are Bio-Rad, Bruker, Ge, Perkin, Sigma-Aldrich, Waters, Agilent Technologies, Genscript, Intrexon, Lonza, Perkin Elmer, Thermo Fisher, and Ab-Sciex.
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The scope of Global Protein Engineering Market:
Global Protein Engineering Market, by Product:
• Services & Software
Global Protein Engineering Market, by Technology:
- Rational Protein Design
• Irrational Protein Design
Global Protein Engineering Market, by Protein Type:
- Monoclonal Antibodies
• Colony Stimulating Factor
• Growth hormones
• Coagulation Factor
Global Protein Engineering Market, by End User:
- Academic Research Institutes
• Pharmaceutical & Biotechnology Companies
• Contract Research Organizations
Global Protein Engineering Market, by Region:
- North America
• Middle East & Africa
• Asia Pacific
• Latin America
The key player operating in the Global Protein Engineering Market:
• Agilent Technologies
• Perkin Elmer
• Thermo Fisher