Protein Engineering Market worth $168 Billion by 2017

DALLAS, March 20, 2013 /PRNewswire/ --

The report "Protein Engineering Market [Products (Monoclonal Antibody, Insulin Analog, Modified EPO), Technology (Sequential Modification, Glycosylation, PEGylation), and Applications (Therapeutics, Diagnostics, Research)] - Global Forecast to 2017", analyses the global protein engineering market by products, technology, applications, and geography with five-year revenue forecasts. It also identifies the factors driving and restraining the global protein engineering market with analysis of trends, opportunities, and threats.

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The protein engineering market is divided into three segments based on its applications, namely, therapeutics, diagnostics, and research. The protein engineering market includes therapeutic proteins (monoclonal antibodies, insulin analogs, EPO, and other proteins), diagnostic proteins, and engineered proteins used in research applications. Monoclonal antibodies is the fastest growing segment of the protein engineering market; it is further segmented based on its application for cancer, auto immune diseases, inflammatory diseases, neovascular and haemostasis.

The global market for engineered protein products is estimated to be worth $168 billion by 2017, growing at a CAGR of 10.94% from 2012 to 2017. Proteins are used as therapeutics owing to their specificity and less immunogenic responses within the host system. Diversity in protein architecture and its properties offers scope for new and improved versions of therapeutic proteins with improved function and stability. The protein engineering market products is growing due to an increase in prevalence of cancer, autoimmune, inflammatory and infectious diseases. These diseases need a targeted therapeutic approach for treatment, which is achieved by therapeutic proteins. Monoclonal antibody is the fastest growing product segment in the market with more than 50% market share. There are more than 25 monoclonal antibodies approved for therapeutics; 10 of these are blockbuster drugs with more than $1 billion in annual revenue. Other products like insulin analogs, EPO, enzymes, and growth hormones are expected to grow at a medium pace.

U.S. and Europe have been major protein engineering market products; however, Asia is set to grow at a faster pace with India's growth in the field of biotechnology and Chinas interest in the research of monoclonal antibodies. Indonesia is the fourth-largest diabetic population nation, and South Koreas growing cancer incidence rate is expected to propel the market for protein therapeutics in the region.

Key players in the market include Genetech (U.S.), Amgen(U.S.), Roche (Switzerland), Eli Lilly (U.S.), Novartis (Switzerland), GSK (U.K.), BMS (U.S.), Johnson & Johnson(U.S.), Merck (U.S.), Pfizer (U.S.), Sanofi (France), Affymax (U.S.), Biogen Idec (U.S.), and Medimmune (U.S.).

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