The worldwide protein engineering market was estimated to be worth US$ 1,936.7 Mn in 2021 and is anticipated to grow at a CAGR of 15.6% between 2022 and 2028 to reach US$ 5,355.8 Mn. Due to increased government financing for protein engineering, the worldwide market for protein engineering is expanding rapidly. In addition, rising frequency of disorders associated with protein deficiency and increased acceptance of protein medications over non-protein treatments are anticipated to support market expansion. However, problems including high manufacturing costs for therapeutic proteins and a shortage of qualified workers are anticipated to impede market expansion.
Click Here to Get a Sample Copy @ https://www.coherentmarketinsights.com/insight/request-sample/5272
Regional Insights
The worldwide protein engineering market is divided into three geographic regions: North America, Latin America, and Europe.
The worldwide protein engineering market is divided into five regions based on geography: North America, Latin America, Europe, Asia Pacific, and the Middle East & Africa.
Due to the increased prevalence of chronic illnesses and the growing preference for protein medications over non-protein pharmaceuticals, North America is anticipated to see the largest market growth among all other regions over the course of the projected period. The use of monoclonal antibodies for illness therapy has substantially expanded as chronic diseases like cancer and other autoimmune disorders have become more common. According to the American Cancer Society, the US would see approximately 1.9 million new cancer diagnoses and 609,360 cancer-related deaths in 2022, or over 1,670 fatalities per day.
The market for protein engineering is predicted to rise strongly in Asia Pacific as a result of rising rates of chronic illnesses including cancer and cardiovascular disease as well as an increase in R&D efforts. For instance, a novel method that can transport active chemicals to certain protein sections was developed in June 2021 by the Indian Institute of Science Education and Research (IISER) Bhopal. In the upcoming years, it will benefit cancer patients with precision imaging-guided tumour operations and targeted cancer chemotherapeutics.
Market Drivers
Over the projected period, the global protein engineering market is anticipated to rise as protein medications become more widely used than non-protein pharmaceuticals. Many different illnesses, including HIV and cancer, are treated with therapeutic proteins. The macromolecular therapeutic proteins include things like monoclonal antibodies, cytokines, and IFNs. Medications made from proteins and peptides may be used as therapeutic agents since they are more effective and less harmful than chemical drugs. There are now about 60 US FDA-approved peptide medications on the market, and throughout the projected period, this number is anticipated to rise.
Over the course of the forecast period, an increase in the incidence of illnesses caused by a lack of protein is anticipated to fuel the expansion of the worldwide protein engineering market. For instance, protein is crucial for a basic diet, however it is estimated that one billion people worldwide lack enough protein. According to the National Institutes of Health (NIH), the current worldwide risk of protein deficiency is 12.2%. Additionally, NIH estimates that by 2050, 1.4 billion individuals, or 15.1% of the world’s population, would be at risk of protein deficiency due to demographic trends.
Market Opportunities
Protein engineering market participants can see considerable growth potential as the development of drugs based on proteins receives more attention. For instance, in January 2022, Amgen and Generate Biomedicines joined forces to find and develop protein therapeutics for five targets across multiple therapeutic modalities and therapeutic areas. This partnership has the potential to generate US$ 1.9 billion for the Flagship Pioneering spinout and will enable testing and the identification of which proteins are most effective against specific disease targets.
The worldwide protein engineering market is predicted to provide attractive development possibilities for participants because to favourable government efforts and funding for protein engineering. For instance, the National Institute of Standards and Technology (NIST), a department of commerce organisation in the United States, has released a biomanufacturing initiative and strict regulatory guidelines to ensure the safe and effective production of affordable, high-quality medicines around the world. The goal of NIST’s biomanufacturing programme is to assist the US biopharmaceutical sector in providing low-cost, high-quality protein medications to people all over the world.
Market Trends
One of the most pervasive trends in the market for protein engineering is the expanding use of monoclonal antibodies for the treatment of cancer and other autoimmune illnesses. The usage of monoclonal bodies has greatly expanded as a result of the high frequency of chronic illnesses like cancer. As a result, the application of protein engineering is growing along with the prevalence of chronic illnesses, and this trend is anticipated to continue during the projected period.
Additionally, the increased emphasis on the creation of therapeutic proteins might be linked to the expansion of the protein engineering sector. Since protein medications are more effective and less toxic than chemical pharmaceuticals, they may have applications as therapeutic agents. There are also certain peptide medications on the market that have received FDA approval, and the number of such medications is anticipated to rise throughout the projected period.
Market Restraints
The development of the worldwide market for protein engineering is anticipated to be constrained by the high manufacturing costs of therapeutic proteins. For instance, because the computational cost of developing therapeutic proteins is expensive, several experts are reluctant to employ this method while creating. As a result, experts build therapeutic proteins using various techniques.
The expansion of the worldwide protein engineering market is anticipated to be hampered by a lack of qualified individuals. For instance, both rich and developing nations face a skilled labour shortage despite significant expenditures in the protein engineering sector. Advanced protein engineering methods, for instance, need for qualified specialists.
Ask For Discount Before Purchasing This Business Report : https://www.coherentmarketinsights.com/insight/request-discount/5272
Market Segmentation
Product Type, Technology, End-User, and Geography are the segments used to group the worldwide protein engineering market study.
The modified enzymes, insulin, monoclonal antibodies, coagulation factors (blood factors + tissue plasminogen), vaccines, growth factors (hormones + cytokines), and other product types are the segments of the protein engineering market based on product type. Due to the rise in the incidence of diabetes, the Insulin Segment is anticipated to dominate the protein engineering market throughout the course of the projected period. Around 422 million people worldwide have diabetes, according to the WHO.
Due to the growing use of monoclonal antibodies in the treatment of cancer and other autoimmune disorders, the monoclonal antibodies market is also anticipated to experience considerable expansion in the near future. The use of monoclonal bodies for treating autoimmune illnesses has greatly expanded in response to the rising prevalence of such diseases.
Irrational protein design and rational protein design are two market segments based on technology. Due to the significant use of this technique in antibody and enzyme engineering, the Rational Protein Design Segment is anticipated to dominate the market throughout the forecast period. For maximising the desired qualities for commercial applications, this approach has a lot of potential.
The pharmaceutical and biotechnology industry, contract research organisations (CRO), and academic institutions make up the three end-user segments of the worldwide protein engineering market. Due to the growing emphasis on the development of novel protein-based medicines, the Pharmaceutical and Biotechnology Companies Segment is anticipated to dominate the market throughout the course of the projected period. Cancer, diabetes, and disorders of the central nervous system can all be treated using medications based on proteins.
The market for contract research organisations is also anticipated to expand significantly in the near future, in part because pharmaceutical and biotech corporations are increasingly looking for ways to save costs while still reaping the advantages. Cost savings, increased productivity, improved service efficiency, and a greater emphasis on the core areas are the main benefits.
Key Developments
Amgen and Generate Biomedicines began working together in January 2022 to find or develop protein therapies for five clinical targets across various treatment modalities and therapeutic regions.
In order to increase its knowledge of cell analysis and solidify its position in the immuno-oncology and immunotherapy businesses, Agilent Technologies purchased BioTek Instruments in August 2019.
Key company insights
The market for protein engineering is quite cutthroat. Due to the rising incidence of chronic illnesses and the ageing population, industry participants are concentrating on introducing innovative pharmaceuticals to the marketplace.
Thermo Fisher Scientific Inc., Codexis Inc., Bio-Rad Laboratories Inc., Abzena, Ltd., Agilent Technologies, Enantis s.r.o., Bruker Corporation, GenScript Biotech Corp., PerkinElmer, Inc., and Waters Corporation, are a few of the leading companies in the worldwide protein engineering industry.
Buy This Complete Business Report @ https://www.coherentmarketinsights.com/insight/buy-now/5272
Table of Content
Chapter 1 Industry Overview
1.1 Definition
1.2 Assumptions
1.3 Research Scope
1.4 Market Analysis by Regions
1.5 Protein Engineering Market Size Analysis from 2022 to 2028
11.6 COVID-19 Outbreak: Protein Engineering Industry Impact
Chapter 2 Global Protein Engineering Competition by Types, Applications, and Top Regions and Countries
2.1 Global Protein Engineering (Volume and Value) by Type
2.3 Global Protein Engineering (Volume and Value) by Regions
Chapter 3 Production Market Analysis
3.1 Global Production Market Analysis
3.2 Regional Production Market Analysis
Chapter 4 Global Protein Engineering Sales, Consumption, Export, Import by Regions (2017-2022)
Chapter 5 North America Protein Engineering Market Analysis
Chapter 6 East Asia Protein Engineering Market Analysis
Chapter 7 Europe Protein Engineering Market Analysis
Chapter 8 South Asia Protein Engineering Market Analysis
Chapter 9 Southeast Asia Protein Engineering Market Analysis
Chapter 10 Middle East Protein Engineering Market Analysis
Chapter 11 Africa Protein Engineering Market Analysis
Chapter 12 Oceania Protein Engineering Market Analysis
Chapter 13 South America Protein Engineering Market Analysis
Chapter 14 Company Profiles and Key Figures in Protein Engineering Business
Chapter 15 Global Protein Engineering Market Forecast (2022-2028)
Chapter 16 Conclusions
Research Methodology
About Us:
Coherent Market Insights is a global market intelligence and consulting organization that provides syndicated research reports, customized research reports, and consulting services. We are known for our actionable insights and authentic reports in various domains including aerospace and defense, agriculture, food and beverages, automotive, chemicals and materials, and virtually all domains and an exhaustive list of sub-domains under the sun. We create value for clients through our highly reliable and accurate reports. We are also committed in playing a leading role in offering insights in various sectors post-COVID-19 and continue to deliver measurable, sustainable results for our clients.
Contact:
Mr Shah
Coherent Market Insights
1001 4th Ave, #3200 Seattle, WA 98154, U.S.
Email: sales@coherentmarketinsights.com
United States of America: +1-206-701-6702
United Kingdom: +44-020-8133-4027
Japan: +050-5539-1737
India: +91-848-285-0837