The global protein engineering market size was worth around USD 2.16 billion in 2023 and is predicted to grow to around USD 5.27 billion by 2032 with a compound annual growth rate (CAGR) of roughly 10.40% between 2024 and 2032.
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Growth Drivers of the Protein Engineering Market
Protein engineering is a technique that is used to create new, valuable, and beneficial proteins. The rapid advancement of biological sciences, particularly recombinant DNA technology, has resulted in the availability of a variety of protein engineering methodologies. Rational protein design and directed evaluation are the two primary methods for protein engineering. Proteins exhibit low immunogenicity and high specificity. Proteins can be modified in a variety of ways to serve as therapeutic agents. Unnatural proteins can be employed for valuable clinical research through the application of protein engineering techniques.
The global protein engineering market is expected to be primarily driven by the following factors over the forecast period: the development of pharmaceutical industries, biotechnological innovations, an increasing emphasis on the development of specific drugs, the advancement of clinical and analytical techniques, and a substantial increase in research funding.
Moreover, the anticipated growth of this market over the estimated time period will be further bolstered by the increasing adoption of protein drugs over non-protein drugs, which are characterised by their potential benefits with targeted effects.
Additionally, the protein engineering market is anticipated to see growth in the coming years due to the increasing demand for alternatives to chemical processes and the increasing prevalence of protein-deficient diseases.
A competitive landscape and an analysis of Porter’s Five Forces model have been incorporated into this report to provide users with a comprehensive understanding of the protein engineering market. The research includes a market attractiveness analysis, which evaluates the market size, growth rate, and general attractiveness of all segments.
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The Global Protein Engineering Market is segmented based on product, application and region
Global Protein Engineering Market: Product Segment Analysis
● Instruments
● Reagents
● Services and Software
Global Protein Engineering Market: Application Segment Analysis
● Academic Research Institutes
● Pharmaceutical and Biotechnology Companies
● Contract Research Organizations
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The Global Protein Engineering market profiles key players such as:
● GE Healthcare
● AB-Sciex
● Agilent Technologies
● Sigma-Aldrich Corp
● Bio-Rad Laboratories, Inc
● Perkin Elmer
● Thermo Fisher Scientific
● Bruker Corp
● Waters Corp
Regional Analysis of the Protein Engineering Market
The protein engineering market’s regional segment encompasses the current and projected demand for North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa. This segment is further subdivided into major countries, such as the United States, the United Kingdom, Germany, France, Italy, Spain, China, Japan, India, and Brazil.
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