Protein Engineering Market size is set to grow by USD 3.60 billion from 2024-2028, demand for improved food and industrial products boost the market, Technavio

NEW YORK, June 18, 2024 /PRNewswire/ -- The global protein engineering market size is estimated to grow by USD 3.60 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of  19.03%  during the forecast period. Demand for improved food and industrial products is driving market growth, with a trend towards adoption of generative ai in protein engineering. However, lack of knowledge of protein structure  poses a challenge. Key market players include Agilent Technologies Inc., Amgen Inc., Bio Rad Laboratories Inc., Bruker Corp., Danaher Corp., Eli Lilly and Co., General Electric Co., GenScript Biotech Corp., Merck KGaA, New England Biolabs Inc., Novo Nordisk AS, PerkinElmer Inc., Promega Corp., Thermo Fisher Scientific Inc., and Waters Corp..

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Market Driver

Generative AI is revolutionizing the protein engineering market by expediting protein design and optimization using advanced machine learning algorithms. This innovation enables the generation of diverse protein sequences with specific functions and properties, reducing time and resources needed for experimentation. Generative AI also expands the sequence space for researchers, uncovering novel protein configurations with unique functionalities. Customization of proteins based on specific design criteria is another transformative implication, enabling the creation of tailored therapeutic proteins for individual patients. The integration of computational simulation further reduces the need for extensive laboratory experimentation. 

The Protein Engineering market is experiencing significant growth due to the increasing demand for advanced therapeutics and industrial applications. New technologies, such as CRISPR-Cas9 and other gene editing techniques, are driving innovation in this field. Bioluminescents and biosensors are also trending, with applications in diagnostics and research. Additionally, the development of new protein structures and functions through design and synthesis is a key focus area. Protins are used in various industries like pharmaceuticals, agriculture, and food processing. Companies are investing in R&D to improve the efficiency and accuracy of protein engineering processes. The use of computational tools and machine learning algorithms is also increasing to aid in the design and optimization of proteins. Overall, the Protein Engineering market is expected to continue growing due to its wide range of applications and the ongoing advancements in technology. 

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Market Challenges

• The protein engineering market encounters a major obstacle due to limited knowledge of protein structures. Understanding a protein's three-dimensional structure is essential for successful protein engineering. Lack of accurate protein structure data restricts the prediction of how sequences will fold and interact with other molecules. This hinders the design of proteins with desired functions, making it challenging to anticipate mutation or modification effects. Complex or non-homologous proteins pose a significant challenge due to the scarcity of related structure data. These proteins may have unique functions or properties, but the absence of structure-related information impedes progress in harnessing their potential through protein engineering. This issue is expected to slow down market growth during the forecast period.
• The Protein Engineering market faces several challenges in the development and application of new technologies. Factors such as the complexity of protein structures and the difficulty in producing large quantities of specific proteins are major hurdles. Additionally, the high cost of research and development, as well as the need for specialized equipment and expertise, add to the challenges. Furthermore, the need to ensure the safety and efficacy of engineered proteins for various applications, including biopharmaceuticals and industrial processes, requires rigorous testing and regulatory compliance. Despite these challenges, the potential benefits of protein engineering, including the creation of new therapeutics and improved industrial processes, make it a promising field for innovation and growth.

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Segment Overview 

This protein engineering market report extensively covers market segmentation by  

1. Product 
• 1.1 Instruments
• 1.2 Reagents
2. End-user 
• 2.1 Pharmaceutical and biotechnology companies
• 2.2 Contract research organizations
• 2.3 Academic research institutes
3. Geography 
• 3.1 North America
• 3.2 Europe
• 3.3 Asia
• 3.4 Rest of World (ROW)

1.1 Instruments-  Protein engineering is a significant business sector, focusing on modifying proteins to enhance their functionality. Companies invest in this market to develop improved enzymes, therapeutic proteins, and industrial bioproducts. Through advanced techniques like site-directed mutagenesis and protein expression systems, businesses create customized proteins to address various industry needs. This market continues to grow as the demand for innovative solutions in healthcare, agriculture, and manufacturing increases.

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Research Analysis

The Protein Engineering Market encompasses innovative solutions in the realm of biotechnology, focusing on the development of bioluminescent testing kits and AI-designed proteins. This sector plays a pivotal role in the advancement of targeted therapies for chronic diseases, including cancer and autoimmune disorders. Monoclonal antibodies, a protein type, are a significant component of protein-based therapies, which contribute to improved patient outcomes. Synthetic biology and non-protein drugs also hold potential in this market. Precision medicine and the immune system are integral areas of application for these advanced technologies. Protein engineering is revolutionizing diagnostics through bioluminescent diagnostic kits, enabling early detection and effective treatment strategies.

Market Research Overview

The Protein Engineering Market encompasses the development and application of various techniques to modify proteins for therapeutic, diagnostic, and industrial purposes. This field involves the use of advanced technologies such as site-directed mutagenesis, phage display, and protein design to create modified proteins with enhanced properties. Protein engineering is a rapidly growing industry, driven by the increasing demand for novel therapeutics and the development of new industrial applications. The market is segmented based on the type of proteins engineered, the applications, and the end-users. Proteins engineered for therapeutic purposes include monoclonal antibodies, enzymes, and growth factors, while those engineered for industrial applications include industrial enzymes, biosensors, and biocatalysts. The market is also driven by the growing demand for protein-based therapeutics and the increasing use of protein engineering in various industries such as pharmaceuticals, agriculture, and food and beverage.

Table of Contents:

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation

• Product
• Instruments
• Reagents
• End-user
• Pharmaceutical And Biotechnology Companies
• Contract Research Organizations
• Academic Research Institutes
• Geography
• North America
• Europe
• Asia
• Rest Of World (ROW)

7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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SOURCE Technavio