Protein Engineering Market Insights
Market Research Future has added a new report to its exhaustive offering which reveals various key figures of, the global protein engineering market including growth at a healthy CAGR of 6.2% during the forecast period of 2017 to 2023. Proteins are used extensively in diagnosis and treatment development of disease and protein engineering is extensively used to designs and construct new proteins in order to produce desired results. Key in improving enzyme properties, protein engineering has significant use in pharmaceuticals, green chemistry, and biofuels.
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Growing research and development activities, particularly in the healthcare sector is a significant factor boosting the global protein engineering market. Use of novel technologies and the demand for new treatment options has increased the use of protein engineering in the healthcare and pharmaceutical sector. MRFR has identified the emergence of trends in protein engineering which include protein identification and tracking. The market, while healthy and promising is likely hindered by the high cost of protein engineering instruments which often require on going and costly maintenance. Moreover, there is a lack in knowledgeable and well trained professionals which challenges market growth. However, it should be noted, that abundant R&D activities and awareness protein engineering has garnered is expected to provide market expansion opportunities.
Protein Engineering Market Studied by Key Players
- Waters Corp
- Bruker Corp
- G.E Healthcare
- Perkin Elmer
- Agilent Technologies
- Bio-Rad Laboratories Inc.
- Sigma-Aldrich Corp
- and Thermo Fisher Scientific.
Protein Engineering Market Segmentation
MRFR has segmented the global protein engineering market on the basis of type, method, application, and end users. Based on type, the market is categorized into services & software, reagents, and instruments. By method, the market is divided into directed evolution, and rational protein design. Based on application, the market is segmented to include environment applications, medical applications, Nano biotechnology, biopolymer production, and food & detergent industries. By end user, the market is divided into pharmaceuticals & biotechnology companies, academic research institutes, and contract engineering organizations.
Globally, the market is divided into Europe, Asia Pacific, the Americas, and the Middle East and Africa.
The Americas due to their inclusion of the U.S in North America accounts for the most significant share of the Global Protein Engineering Market due to the significant presence of several market players in the region who are driving the market. Moreover, there has been an increase in the amount of biotechnology and pharmaceutical companies in the region. The U.S, which is a highly important country in the region, is technologically advanced and uses advanced protein engineering methods extensively, thus prompting market growth.
The Asia Pacific shows the highest promise with an estimated CAGR which is expected to be the highest among all regions. The growing prevalence of chronic and lifestyle diseases has encouraged the region to adopt advanced healthcare technologies. Rapidly emerging markets in the region are demanding novel technologies to this effect and the region is expected witness exponential growth as a result.
Latest Industry News
Abzena plc, the life sciences group has signed an agreement with NYU Langone Health, one of the U.S leading academic medical centers. The agreement is a master service agreement for protein engineering and drug discovery services and is expected to pave the way for the development of novel biopharmaceutical therapeutics.
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