Protein Engineering Market Major Key Players, Growth Insights, Business Strategies And Forecast By 2033

The protein engineering market size has grown rapidly in recent years. It will grow from $3.63 billion in 2023 to $4.14 billion in 2024 at a compound annual growth rate (CAGR) of 14.2%. The growth in the historic period can be attributed to scientific breakthroughs, early therapeutic success stories, biopharmaceutical revolution, rise of monoclonal antibodies, regulatory framework establishment.

The protein engineering market size is expected to see rapid growth in the next few years. It will grow to $7.2 billion in 2028 at a compound annual growth rate (CAGR) of 14.8%. The growth in the forecast period can be attributed to increasing demand for therapeutic proteins, advancements in biotechnology, drug development and research, rising prevalence of chronic diseases, focus on precision medicine. Major trends in the forecast period include advanced protein design tools, high-throughput screening techniques, artificial intelligence (ai) and machine learning, novel protein expression systems, crispr and gene editing technologies.

Market Overview -
Protein engineering is the process by which researchers can modify protein sequences through the substitution, insertion, or deletion of nucleotides within the gene that encodes them. This is done with the aim of obtaining modified proteins that are better suited to particular applications or purposes than unmodified proteins.

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Rising Demand For Protein-Based Drugs Fuels Growth In The Protein Engineering Market
The increasing demand for protein-based drugs is driving the protein engineering market. Proteins that are used in drugs for therapeutic activity are protein-based drugs. The protein-based drugs or therapeutic proteins are medicines that are genetically engineered versions of naturally occurring human proteins. Protein engineering modifies protein sequences through the substitution, insertion, or deletion of nucleotides within the gene that encodes them in order to modify protein-based drugs that are better suited to particular applications. For instance, according to a study by Lancet Diabetes and Endocrinology journal, nearly 80 million people with type-2 diabetes will require insulin by 2030, a rise of 20%. Thus, increasing demand for protein-based drugs is driving the protein engineering market.

Competitive Landscape -
Major companies operating in the protein engineering market report are Bruker Corporation, Codexis Inc., Danaher Corporation, Thermo Fisher Scientific Inc., GenScript Biotech Corporation, Agilent Technologies Inc., Bio-Rad Laboratories Inc., New England Biolabs Inc., PerkinElmer Inc., Amgen Inc., InvivoGen, Enantis s.r.o., Promega Corporation, Merck KGaA, Aragen Bioscience Inc., Creative BioMart, Waters Corporation, Genentech Inc., Novartis AG, Pfizer Inc., Roche Holding AG, Sanofi S.A., GlaxoSmithKline plc, Johnson & Johnson, Eli Lilly and Company, AbbVie Inc., Bristol-Myers Squibb Company, AstraZeneca plc, Biogen Inc., Abzena plc.

Technological Advancements Transforming The Protein Engineering Market
Technological advancements are a key trend gaining popularity in the protein engineering market. Major companies operating in the market are advancing toward the use of a protein engineering platform to optimize therapy. For instance, in July 2021, the US-based biotechnology company, Integral Molecular, providing innovative technologies, launched RV GeneCanvas, an protein engineering platform for optimizing transgenes and other gene therapy elements. Integral Molecular has developed GeneCanvas based on its 20 years of experience optimizing the most challenging and structurally complex proteins, including GCPRs, ion channels, transporters, and viral envelopes. In addition to the company's proprietary high-throughput mutagenesis and human cell screening platforms, GeneCanvas allows for the creation and screening of large libraries of variants, which have been used in internal projects.

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Key Segments -
The protein engineering market covered in this report is segmented -
1) By Product and Services : Instruments, Reagents, Services and Software
2) By Protein Type: Insulin, Monoclonal Antibodies, Coagulation Factors, Vaccines, Growth Factors, Other Protein Types
3) By Technology: Irrational Protein Design, Rational Protein Design
4) By End User: Pharmaceutical and Biotechnology Companies, Academic Research Institutes, Contract Research Organizations

Key highlights covered in the report -
1. Detailed market size forecast and historical data analysis
2. Key drivers influencing market growth
3. Identification of upcoming trends and potential opportunities in the market
4. Analysis of major players strategies, to understand competitive dynamics and market positioning
5. Evaluation of regional dynamics

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