Protein Engineering Market Astonishing Growth with Top Influencing Key players
The growth of the global protein engineering market is
attributed to the increasing prevalence of chronic diseases and rising investments
in synthetic biology. However, the lack of trained professionals in the market
may hamper the market growth. Furthermore, the emerging markets of protein
engineering pose viable opportunities for market expansion in the future.
Market Research Future (MRFR) assessed the global Protein
Engineering Market Report is expected to register a CAGR of 7.62% during
the forecast period of 2021 to 2027. Protein engineering is creating and
manufacturing non-natural polypeptides, often by modifying naturally occurring
amino acid sequences. Synthetic proteins' structures and functions can now be
generated entirely on a computer or created in the lab through directed
evolution.
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Protein Engineering Market Segmentation
The global protein engineering market has been divided based
on type, application, method, and end user.
• Based on
application,the protein engineering markethas been divided intofood &
detergent industries, environmental, medical, biopolymer production, and
nanobiotechnology.
• Based on
method, the protein engineering market is bifurcated into rational protein
design and directed evolution.
• On the
basis of end user, the protein engineering market is segmented into
pharmaceuticals & biotechnology companies, contract engineering
organizations, and academic research institutes.
Protein Engineering Market Players
MRFR recognizes the following companies as the key players
in the global protein engineering market—Thermo Fisher Scientific (US), Bio-Rad
Laboratories, Inc. (US),GenScript (US), Agilent Technologies, Inc. (US), PerkinElmer,
Inc. (US), Bruker Corporation (US),Waters Corporation (US), Merck KGaA
(Germany), Promega Corporation (US), and Danaher Corporation (US).
Protein Engineering Market Regional Analysis
The global protein engineering market, based on region, has
been divided into the Americas, Europe, Asia-Pacific, and the Middle East &
Africa. The Americas accounted for the largest market share in 2020 and is
anticipated to dominate the global protein engineering market during the
forecast period. However, Asia-Pacific is projected to register the highest
CAGR during the forecast period.
The Americasis expected to dominate with the largest market
share due to a well-developed healthcare sector, an increase in biotechnology
and pharmaceutical companies, increased R&D capabilities, and the presence
of leading players.The Americas consist of North America and Latin America.The
market in North America has been divided into the US and Canada. The US
accounts for the largest market share in the North American protein engineering
market. In the US, the availability of technologically advanced devices &
instruments and the concentration of the major market players are the drivers
for the protein engineering market in the region.Increased R&D funding in
Canada is fueling the growth of the protein engineering market.The growing
pharmaceutical industry in South America is a key driving factor for the
protein engineering market in the region. Brazil accounts for the largest
market share in the region. The high prevalence of lifestyle diseases and
increased government support for R&D are further driving the market growth.
According to Statista, in 2019, Brazil had the highest pharmaceutical market
value in South America, reflecting the rapid growth of the pharmaceutical
industry in this region.
Europe has also evolved as a prominent market for protein
engineering with the growth of the R&D sector in major countries such as
Germany, the UK, France, Italy, and Spain, as well as increasing demand for
protein engineering methods and technologies.The Asia-Pacific region represents
lucrative opportunities for players operating in the protein engineering
market, attributed to the growing prevalence of chronic diseases such as heart
diseases and diabetes, increasing healthcare IT spending, and the increasing
presence of contract research organizations. Numerous new and innovative
approaches are being used for the treatment of heart diseases. Protein
engineering has the potential to improve the effectiveness of molecules for
cardiac repair specifically. Protein therapeutics are increasingly used for
inflammatory and cancer diseases.
Improvement in healthcare infrastructure and increased
demand for new drugs and devices for diagnosis and treatment of diseases are
the key drivers for the Middle East & Africa's protein engineering market.
Countries in the Middle East and North Africa, such as Algeria, Egypt, and
Iraq, have made substantial improvements in developing their health care
systems. The number of hospitals and diagnostic centers is increasing in the
region; this creates a demand for new drugs and devices for the diagnosis and
treatment of diseases.
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