The
global Protein
Engineering Market size is expected to reach USD 7.62 billion by 2030,
registering a CAGR of 16.60% during the forecast period, according to a new
report by Grand View Research, Inc. One of the key factors fueling the
industry’s growth is the rising demand for non-chemical medicinal alternatives
for the treatment of chronic diseases globally. Furthermore, due to the
favorable clinical outcomes connected to protein-based treatments, these
therapeutics are now preferred over conventional synthesized pharmaceuticals,
which is expected to accelerate market growth. The rising number of
government activities, such as funding research and advancement for engineering
novel therapeutics further influence the industry growth.
In
addition, the market is positively impacted by improvements in healthcare
infrastructure, an increase in healthcare spending, growth in the
geriatric population, and an increase in investments in health-related research
& development globally. Furthermore, key companies are expected to have profitable
opportunities due to the growth in technological advancements in the protein
engineering field. For instance, in February 2022, Tierra Biosciences unveiled
the Tierra Protein Platform, an e-commerce platform that enables
consumers to receive unique protein engineering products manufactured,
verified, and dispatched to them in only a few clicks.
The
platform offered by Tierra offers a quicker and more practical alternative to
conventional approaches for finding thousands of proteins for use in R&D. The
COVID-19 pandemic has boosted the industry growth 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 market will witness substantial growth during the forecast period as a
result of the rising R&D efforts for engineering COVID-19 treatments.
Related
Press Release@ Protein Engineering Market Report
Protein Engineering Market Report Highlights
- The
instruments product segment accounted for the highest market share in
2022. High demand for efficient and high throughput instruments for
chromatographic analysis in protein engineering applications is driving
the segment
- The rational
protein design technology segment accounted for the largest share in 2022.
Protein remodeling engineering is an emerging and important application of
rational design and serves as a major factor contributing to the growth of
the segment due to its highly reliable and rapid processing attributes
- The
monoclonal antibodies protein type segment held the largest share in 2022.
Monoclonal bodies find applications in the treatment of autoimmune
disorders and with the rising prevalence of such diseases, the segment is
anticipated to witness a rapid growth
- The
pharmaceutical and biotechnology companies end-use segment held the
largest share in 2022. Rising R&D expenditure by biotechnology and
pharmaceutical firms and increasing government funding and support for
engineering advanced therapies are boosting the segment growth
- North
America accounted for the largest share in 2022 due to the rising use of
biological medications for the treatment of chronic diseases, as well as
rising funding opportunities in the region for R&D activities
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View Research, Inc. is a U.S. based market research and consulting company,
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company provides syndicated research reports, customized research reports, and
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offers market intelligence studies ensuring relevant and fact-based research
across a range of industries including technology, chemicals, materials,
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