The global protein engineering market size was valued at USD 2.16 billion in 2022 and is expected to grow at a compound annual growth rate (CAGR) of 16.60% from 2023 to 2030. The market growth can be attributed to a number of factors, including the increased focus of biotechnology and pharmaceutical businesses on research & development of protein-based therapies due to their advantages over non-protein drugs, including higher cost-effectiveness and better patient outcomes. Similarly, an increase in demand for targeted therapies for the treatment of cancer and autoimmune diseases is driving the adoption of protein engineering. The COVID-19 pandemic has boosted the industry due to applications of protein engineering in the production of COVID-19 vaccines and diagnostics.
A bioluminescent diagnostic kit, for instance, was developed in July 2021 by scientists at the Eindhoven University of Technology in Germany. It can be utilized to determine whether an individual’s immune system is producing antibodies in reaction to the coronavirus. Similarly, it is anticipated that the industry will witness substantial growth during the forecast period as a result of the growth in the number of clinical trials involving protein-based treatments for COVID-19. Furthermore, protein engineering is frequently utilized to overcome drug-related defects and can enhance the affinities and effectiveness of molecules for a variety of purposes, such as cardiovascular repair.
This has resulted in a growing demand for the use of protein engineering instruments for the invention of cutting-edge treatments and has sped up market development.In addition, the growing number of government efforts aiming to improve protein engineering capabilities are predicted to offer significant growth potential for the market. As a result, there is an increase in research activities and programs, the number of funds allocated, and R&D spending in this domain. For instance, Nabla Bio announced the closure of a USD 11 million seed fundraising round in December 2021. With the help of this financing, a platform for AI-first design will be developed for enabling the development of next-generation antibody therapeutics.
In addition, in January 2022, Generate Biomedicines & Amgen confirmed a research partnership contract to develop protein therapies for 5 clinical targets.The demand for protein engineering is further increased by the rising incidence of chronic & lifestyle disorders including diabetes, cardiovascular conditions, and others. Other significant factors anticipated to contribute to the market's revenue growth include the increasing incidence of protein deficiency disorders, such as Protein-Energy Malnutrition (PEM), primarily in low-income countries around the world. With the growth in private and public investments in synthetic biology, and ongoing developments in engineering personalized therapies, the industry is expected to witness substantial growth in the near future.
The instruments segment dominated the global industryin 2022 and accounted for the maximum share of 51.50% of the overall revenue. Researchers are increasingly preferring automated technologies for promoting rapid molecular development processes, which is one of the important factors driving segment growth. Furthermore, rising demand for high-efficiency protein engineering tools, such as real-time PCR apparatus and chromatographic systems, is likely to boost the segment growth over the forecast period.
The reagents segment is anticipated to register the fastest CAGR from 2023 to 2030 as a result of the rising utilization of reagents for a variety of applications, including the production of growth factors, vaccines, monoclonal antibodies, and other therapeutics. Furthermore, the use of reagents for research and development purposes in the production of novel vaccines for COVID-19 has fueled the opportunities for the launch of new products in this domain and is likely to drive the market in the coming years.
The rational protein design segmentled the industry in 2022 and accounted for the highest revenue share of more than 29.95%. The dominant share is a result of the widespread usage of this technology in enzyme engineering and antibody development. The rapid expansion in commercial applications of enzyme engineering has resulted in the development of enhanced and modified enzymes that possess the desired catalytic properties. Techniques, such as site-directed mutagenesis, are frequently used in rational design engineering approaches and the high market penetration of such techniques aids in driving the segment.
The hybrid approach segment is anticipated to witness the fastest growth rate over the forecast period. This can be attributed to the frequent adoption of hybrid approaches, that use a combination of directed evolution and rational design, for various applications, such as for the enhancement of redox proteins and enzymes. These enzymes hold high importance in the engineering of nano-devices for bio-sensing and other major nanotechnology engineering applications, thus strengthening future growth prospects.
The monoclonal antibodies segment accounted for the highest revenue share of more than 23.25% in 2022. One of the major factors contributing to the increased use of these technologies is the rising R&D spending in the development of therapeutically enhanced monoclonal antibodies. In addition, the increasing adoption of targeted monoclonal antibodies for the treatment of cancer and other chronic diseases is expected to boost the segment in near future. Similarly, the growth potential is expected to further improve with the introduction of genetic platforms that use cutting-edge technology, such as next-generation sequencing for enabling efficient protein engineering for the development of monoclonal antibodies.
The insulin segment is expected to grow at the fastestCAGR from 2023 to 2030 due to the increase in demand for insulin as a result of the growing diabetic population worldwide. In the U.S. alone, around 8.3 million people require insulin for the regulation of blood sugar levels. Moreover, established players in the segment, such as Eli Lilly, Novo Nordisk, and Sanofi, offer multiple types of insulin, which increases the scope of applications for the segment. These factors are expected to drive the growth of insulin protein engineering in the near future.
The pharmaceutical & biotechnology companies segment captured the highest share of more than 42.55% in 2022. The large share is due to the growing use of in silico drug development models for the treatment of diabetes, cancer, and neurological problems. By developing drug variations of patent-expiring drugs using a computer modeling approach, these organizations continuously work to maintain their market presence. Furthermore, the growing funding and investment support from public and private healthcare organizations for the development of sophisticated protein engineering technologies to provide better patient outcomes is fueling the segment.
The Contract Research Organizations (CROs) segment is anticipated to register the fastest CAGRfrom 2023 to 2030. This can be attributed to the rising propensity of outsourcing and contract research and manufacturing in the biopharmaceutical industry. Advantages offered by CROs, such as improved productivity, improved service efficiency, and a greater emphasis on key development areas in protein engineering, including de novo protein engineering, are anticipated to drive the segment.
North America dominated the globalindustry in 2022 and accounted for the maximum share of more than 40.75% of the overall revenue. Over the course of the projected period, the region is expected to retain its leadership. A rising number of collaborations encouraged by key market players for increasing their R&D capabilities are likely to be responsible for the greater share captured by this region. For instance, in September 2021, the protein engineering partnership between Selecta Biosciences, Inc. & Cyrus Biotechnology, Inc. combined Selecta’s ImmTOR platform with Cyrus’ capacity to fundamentally redesign protein treatments. The collaboration’s main initiative was the development of an exclusive interleukin-2 (IL-2) agonist made to selectively enhance regulatory T cell (Treg) growth for the treatment of individuals with autoimmune disorders.
Similarly, the presence of key players, such as Agilent Technologies and Thermo Fisher Scientific, Inc., in the region has contributed to the high market share. The AsiaPacific region is projected to grow at the fastest CAGR over the forecast period due to the high incidence of cancer, cardiovascular, and autoimmune disorders in developing Asian countries. In addition, untapped opportunities in this region are expected to contribute to the growth of the sector due to the high economic development in emerging markets, such as India and China. Moreover, the presence of a large population base for the development and clinical testing of protein engineering applications is anticipated to boost the region’s growth.
Key players are undertaking several key strategies, such as partnerships, mergers, acquisitions, etc. to strengthen their industry presence. For instance, in August 2022, Creative BioMart, upgraded its protein engineering design and analysis services to assist researchers in solving difficulties encountered in protein engineering. Some of the prominient key players in the global protein engineering market include:
Thermo Fisher Scientific, Inc.
Genscript Biotech Corp.
Market size value in 2023
USD 2.59 billion
Revenue forecast in 2030
USD 7.62 billion
CAGR of 16.60% from 2023 to 2030
Base year for estimation
2018 - 2021
2023 - 2030
Revenue in USD million/billion and CAGR from 2023 to 2030
Revenue forecast, company ranking, competitive landscape, growth factors, and trends
Product, technology, protein type, end-use, region
North America; Europe; Asia Pacific; Latin America; Middle East & Africa
U.S.; Canada; U.K.; Germany; France; Italy; Spain; Denmark; Sweden; Norway; Japan; China; India; Australia; Thailand; South Korea; Brazil; Mexico; Argentina; South Africa; Saudi Arabia; UAE; Kuwait
Key companies profiled
Agilent Technologies; Bruker Corp.; Thermo Fisher Scientific, Inc.; PerkinElmer, Inc.; Waters Corp.; Bio-Rad Laboratories; Merck KGaA; Danaher Corp.; Genscript Biotech Corp; Amgen Inc.
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This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2018 to 2030. For the purpose of this study, Grand View Research has segmented the global protein engineering market report on the basis of product, technology, protein type, end-use, and region:
Product Outlook (Revenue, USD Million, 2018 - 2030)
Software & Services
Technology Outlook (Revenue, USD Million, 2018 - 2030)
Rational Protein Design
De Novo Protein Design
Protein Type Outlook (Revenue, USD Million, 2018 - 2030)
Colony Stimulating Factors
End-use Outlook (Revenue, USD Million, 2018 - 2030)
Academic Research Institutes
Contract Research Organizations
Pharmaceutical & Biotechnology Companies
Regional Outlook (Revenue, USD Million, 2018 - 2030)
Middle East and Africa (MEA)
b. The global protein engineering market size was estimated at USD 2.16 billion in 2022 and is expected to reach USD 2.59 billion in 2023.
b. The global protein engineering market is expected to grow at a compound annual growth rate of 16.60% from 2023 to 2030 to reach USD 7.62 billion by 2030.
b. Rational protein design dominated the protein engineering market with a share of 29.97% in 2022. This is attributable to the extensive usage of this technology for engineering antibodies and other therapeutics. Similarly, growth in its commercial applications for engineering enhanced and modified enzymes possessing desired catalytic properties has boosted the segment.
b. Some key players operating in the protein engineering market include Agilent Technologies, Bruker Corporation, Thermo Fisher Scientific, Inc., PerkinElmer, Inc., Waters Corporation, Bio-Rad Laboratories, Merck KGaA, Danaher Corporation, Genscript Biotech Corp., and Amgen Inc.
b. Key factors that are driving the market growth include a preference for protein-based therapeutics over non-protein drugs due to the positive clinical outcomes associated with these drugs and the rising urgency to curb high R&D costs in clinical trials.
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