Protein Deficiency in People is Driving Protein Engineering Market Growth

Protein Engineering Market

Protein Engineering Market by Product Type (Insulin, Monoclonal Antibodies, Coagulation Factors (Blood Factors + Tissue Plasminogen), Vaccines, Growth Factors (Hormones + Cytokine), and Other Product Types), Technology (Irrational Protein Design and Rational Protein Design), End User (Pharmaceutical and Biotechnology Companies, Academic Institutions, and Contract Research Organizations (CROs)), By Geography (North America, Latin America, Europe, Asia Pacific, Middle East & Africa ) - Size, Share, Outlook, and Opportunity Analysis, 2023 - 2030

The global Protein Engineering Market is estimated to be valued at US$ 2.16 Billion in 2022 and is expected to exhibit a CAGR of 16.60 % over the forecast period as highlighted in a new report published by Coherent Market Insights.

Market Overview

Protein engineering is a part possessing instigation hot spots in recombinant DNA technology, in which administrations in gene are conveyed as modifications in protein conformation responsible for known features. Several methods for the particular engineering proteins can primarily be categorized as techniques, which need comprehensive before consociate of protein, finding the concept of rational method of directed evolution that helps in expression of the development of natural evolution. Protein engineering till now has been booming to generate proteins, which have effective uses in industry, health and life sciences, and eventually in Nano biotechnology in present scenario.

Competitive Landscape:

Key Players involved in the growth of global Protein Engineering Market are Agilent Technologies Inc., Amgen Inc., Thermo Fisher Scientific Inc., Bruker Corporation, Merck KGaA, and Bio-Rad Laboratories Inc.

Market Key Drivers:

Rising cases of protein deficiency disease is expected to augment the growth of global Protein Engineering Market. For instance, as per NIH report, it states that around 148.4 million people would suffer from protein deficiency across the globe by 2050.

Rising prevalence of marasmus and malnutrition is projected to propel the growth of global Protein Engineering Market. For instance, as per FAO around 828 million people across the globe suffer from malnutrition.

Covid-19 Impact Analysis:

The COVID-19 outbreak had a significant effect on the healthcare systems, with substantial significances not only for COVID-19-infected people however, also for others, resulting in the revocation of treatment procedures to maintain and reserve resources, and several healthcare centers are experiencing a lack of experts to help with the therapeutics. With the rise in COVID-19 cases, protein engineering is being used to develop immunizers and has been utilized for convenient and quick testing of coronavirus antibodies.

Key Takeaways:

The global Protein Engineering Market is expected to exhibit a CAGR of 16.60 % during the forecast period owing to the rising approvals and launches. For instance, in May 2021, Zydus Cadila announced the launch of Trastuzumab Emtansine, the first Antibody Medicine Conjugate biosimilar, Ujvira, for curing early and advanced HER2 positive breast carcinoma.

Among regions, North America, Asia Pacific and Europe anticipated to witness robust growth in the global Protein Engineering Market due to increasing investments, increasing cases of cancer, malnutrition and marasmus, rising protein deficieny. For instance, as per GLOBOCAN 2020 2,281,658 novel cancer cases were found in the U.S in 2020, with 612,390 deaths.