Protein Engineering Market Worth $3.9 Billion by 2024 - Exclusive Report by MarketsandMarkets™

CHICAGO, Jan. 28, 2020 /PRNewswire/ -- According to the new market research report "Protein Engineering Market by Technology (Rational Design, Irrational Design), Product & Service (Instrument, Consumables), Protein Type (Monoclonal Antibodies, Insulin), End User (Academics Institutes, Biopharmaceuticals, CROs) - Global Forecast to 2024", published by MarketsandMarkets™, the Protein Engineering Market is estimated to grow from USD 2.2 billion in 2019 to USD 3.9 billion by 2024, at a CAGR of 12.4% during the forecast period. 

Download PDF Brochure:

https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=898

Factors such as the increasing investments in synthetic biology and the growing focus on protein-based drug development by pharmaceutical and biotechnology companies are expected to drive the growth of this market in the coming years. 

Instruments segment accounted for the largest share of the Protein Engineering Market, by product & service, in 2019

Based on product & service, the market is segmented into instruments, consumables, and software & services. Instruments accounted for the largest share of this market in 2019 owing to the technological advancements in mass spectrometry and X-ray crystallography and their ability to integrate with other technologies.

Monoclonal antibodies segment accounted for the largest share of the Protein Engineering Market, by protein type, in 2019

Based on protein type, the market is segmented into monoclonal antibodies, insulin, erythropoietin, interferons, vaccines, colony-stimulating factors, growth hormones, coagulation factors, and other proteins. Monoclonal antibodies accounted for the largest share of the market in 2019, majorly due to the high and growing demand for monoclonal antibodies for the treatment of cancer, neurological diseases, and infectious diseases.

Browse in-depth TOC on "Protein Engineering Market"

132 – Tables

32 – Figures  

146 – Pages

Rational protein design was the largest technology segment in the Protein Engineering Market in 2019

Based on technology, the market is segmented into rational and irrational protein design. The rational protein design segment accounted for the largest share of the market, majorly due to the increasing use and continuous upgrades of bioinformatics platforms and software for protein analysis.

Biopharmaceutical companies were the largest end users of protein engineering products and services in 2019

Based on end user, the Protein Engineering Market is segmented into biopharmaceutical companies, contract research organizations, and academic research institutes. Biopharmaceutical companies use protein engineering products extensively in their drug discovery and development activities as these products help in designing models to develop a broad range of protein-based drugs. As a result, biopharmaceutical companies were the largest end users in this market in 2019.

Get 10% Customization on this Research Report:

https://www.marketsandmarkets.com/requestCustomizationNew.asp?id=898

North America was the largest regional market for protein engineering products and services in 2019

In 2019, North America accounted for the largest share of the global market, followed by Europe. The large share of the North American market is attributed to the presence of well-established CROs, rising R&D expenditure, and the availability of the latest techniques and instruments for drug discovery research in the region. Also, the rising adoption of biologic drugs such as monoclonal antibodies, erythropoietin, and interferons for the treatment of chronic diseases is a major factor driving the growth of the North American market.

The major companies operating in the global Protein Engineering Market include Thermo Fisher Scientific (US), Danaher Corporation (US), Agilent Technologies (US), and Bio-Rad Laboratories (US).

Browse Adjacent Markets: Medical Devices Market Research Reports & Consulting

Browse Related Reports:

Proteomics Market by Instrument (Spectroscopy, Chromatography, Electrophoresis, Microfluidics, X-ray Crystallography), Reagents, Services & Software (Protein Identification, Characterization, Bioinformatics), Application - Global Forecast to 2024

Protein Expression Market by Type (E. Coli, Mammalian, Yeast, Pichia, Insect, Baculovirus, Cell-free), Products (Competent Cells, Reagents, Instruments, Services), Application (Therapeutic, Research, Industrial) & End User - Global Forecast to 2022

About MarketsandMarkets™ 

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies' revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets's flagship competitive intelligence and market research platform, "Knowledge Store" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

Contact:
Mr. Shelly Singh
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA: +1-888-600-6441
Email: [email protected]
Research Insight: https://www.marketsandmarkets.com/ResearchInsight/protein-antibody-engineering-market.asp 
Visit Our Website: https://www.marketsandmarkets.com 
Content Source: https://www.marketsandmarkets.com/PressReleases/protein-antibody-engineering.asp 

SOURCE MarketsandMarkets