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Global Protein Engineering Market is anticipated to reach USD 3.09 billion by 2025. Protein engineering is a method to design novel proteins or enzymes with the intention to have functional properties. Protein engineering is primarily based on the use of recombinant DNA technology to alter the amino acid sequences in terms of affinity, solubility, activity, resistance, etc.
The factors that propel the growth of the Protein Engineering industry include increasing occurrence of lifestyle associated diseases, increasing consciousness regarding healthcare, increasing healthcare expenditure, and growing adoption of protein-based drugs. On the other hand, there are factors that may hamper the growth of the market including lack of skilled expertise, maintenance, and high price of tools as well as instruments utilized during protein engineering. Protein Engineering Market is anticipated to grow at a significant CAGR of 15.9% in the upcoming period as the scope, product types, and its applications are increasing across the globe.
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The market may be explored by product type, technology, protein type, end users, and geography. The market may be explored by product type as services and software, instruments, and reagents. The “Instruments” segment dominated the market in 2016 and is anticipated to maintain its dominance in the forecast period.
The key technologies that could be explored in the Protein Engineering industry include Irrational Protein Design, and Rational Protein Design. The “Rational Protein Design” segment dominated the market in 2016 and is anticipated to maintain its dominance by 2025 owing to highly accepted technology in the market in 2014. This huge share could be ascribed to its advantages over irrational protein design technology.
The Protein Engineering Market could be explored based on protein type as Insulin, Erythropoietin, Vaccines, Monoclonal Antibodies, Interferon, Growth hormones, Colony Stimulating factor, Coagulation Factor, Others (Follicle Stimulating Hormones, Enzyme Replacement, and Interleukins). The “Monoclonal Antibodies” segment dominated the market in 2016 and is anticipated to maintain its dominance by 2025 owing to increase in acceptance for several treatments such as autoimmune diseases, and cancer.
Protein Engineering industry could be analyzed by end user as contract research organizations, academic research institutes, and pharmaceutical & biotechnology companies. The “Pharmaceutical and Biotechnology Companies” segment dominated the market. The factors contributing to the dominant share include increase in R&D funds in the pharmaceutical segment, and technological advancements in protein engineering.
North America is anticipated to hold the major share of the Protein Engineering Market. The factors that attribute to the dominant share include growing occurrence of diseases and rising adoption of protein-based drugs in the region. The North American market is followed by Europe. On the other hand, Asia Pacific is estimated to show high growth rates in the upcoming period in the global market. In the Asia Pacific region, countries such as China and India are expected to be the fastest-growing markets.
Some of the key players that fuel the growth of the Protein Engineering industry comprise Eli Lilly and Company, Thermo Fisher Scientific Inc., Merck KGaA, Bruker Corporation, PerkinElmer Inc., Agilent Technologies, Waters Corporation, Novo Nordisk A/S, Bio-Rad Laboratories Inc., Amgen Inc., and among others. The leading companies are taking up partnerships, mergers and acquisitions, and joint ventures in order to boost the inorganic growth of the industry.
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Market Segment:
Technology Outlook (Revenue, USD Million, 2014 - 2025)
• Rational Protein Design
• Directed Evolution
• Hybrid Approach
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