Protein Engineering Market Size, Share, Industry, Forecast and Outlook (2024-2031)

Global Protein Engineering Market is segmented By Product Type (Consumables, Instruments, Software & Services), By Protein Type (Insulin, Erythropoietins, Vaccines, Interferons, Coagulation Factors, Colony-Stimulating Factors, Growth Hormones, Monoclonal Antibodies), By Technology (Irrational Protein Design, Rational Protein Design), By End-User (Biopharmaceutical Companies, Contract Research Organisations, Others), and By Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) – Share, Size, Outlook, and Opportunity Analysis, 2024-2031

Protein Engineering Market Size

The Global Protein Engineering Market reached USD 2,247.2 million in 2022 and is projected to witness lucrative growth by reaching up to USD 6,721.3 million by 2031. The global protein engineering market is expected to exhibit a CAGR of 15.2% during the forecast period (2024-2031).

Protein engineering is a field of biotechnology that includes the modification and manipulation of proteins with a view to improving existing characteristics or generating novel functionality. It is essential in various sectors, including medicine, agriculture, and biotechnology.

The global protein engineering market is expected to grow significantly because of breakthroughs in genetic engineering methods, increased demand for protein-based medicines, and the growing need for sustainable protein sources.

Protein Engineering Market Scope

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Protein Engineering Market Dynamics

The Advancement in Genetic Engineering Techniques will Drive the Global Protein Engineering Market Growth

Advances in genetic engineering methods have been critical in propelling the global protein engineering industry forward. Recombinant DNA technology and directed evolution have given scientists tremendous tools for designing and creating new proteins with increased characteristics and capabilities.

For instance, the development of insulin analogs such as insulin glargine. Insulin glargine has a long duration of action, allowing for a consistent and continuous release of insulin throughout time. This was accomplished by altering the amino acid sequence of human insulin using recombinant DNA technology, resulting in a slower absorption rate and a longer therapeutic impact. 

Insulin glargine has considerably improved diabetes treatment for people. Therefore, the growing advancements in genetic engineering research will drive the global protein engineering market over the forecast period.

The Expansion of Personalized Medicine will Create Lucrative Opportunities for Global Protein Engineering Market

Personalized medicine seeks to personalize medical treatments for individual patients based on genetic, lifestyle, and illness features. Protein engineering is important in this discipline as it allows for the creation of customized therapeutic proteins tailored to each patient's needs.

For example, the use of immune checkpoint inhibitors as personalized medicine in cancer immunotherapy. Protein-based therapies, including pembrolizumab (Keytruda) and nivolumab (Opdivo), have been designed to inhibit the PD-1/PD-L1 immune checkpoint pathway. These antibodies restore the immune system's capacity to recognize and destroy cancer cells by blocking this mechanism. 

The High Development Costs Associated with the Research and Development of Engineered Proteins will Hamper the Global Protein Engineering Market Growth

The development and optimization of engineered proteins may be a time-consuming and expensive procedure. The substantial research and testing necessary, as well as regulatory obstacles, can offer financial issues, especially for small and medium-sized firms (SMEs). High development costs may limit the growth of the global protein engineering market. 

Protein Engineering Market Segment Analysis

The global protein engineering market is segmented based on product type, protein type, technology, end user, and region.

The Monoclonal Antibodies Segment is Expected to Dominate the Global Protein Engineering Market

Monoclonal antibodies segment is projected to dominate the protein engineering market owing to their vast uses in therapeutics, diagnostics, and research, and will account for the highest market share of 36.4%. Monoclonal antibodies are manufactured proteins that are designed to attach to certain target molecules, such as antigens or receptors, with great affinity and specificity. They have been widely employed in the treatment of a wide range of diseases, including cancer, autoimmune disorders, and infectious disease.

For instance, according to Breastcancer.org report, in the United States in 2022, a projected 287,850 new instances of invasive breast cancer are expected to be diagnosed, coupled with 51,400 new cases of non-invasive (in situ) breast cancer. Moreover, broadly 5% to 10% of breast cancer instances have been linked to gene mutational alterations inherited from mother or father genes such as BRCA1 and BRCA2 genes are the most common gene mutations. 

Thereby, monoclonal antibodies can be programmed to target and inhibit the action of certain mutant proteins associated with a disease. Thus, the rising prevalence of cancer is driving the demand for monoclonal antibodies, which will drive global protein engineering market growth over the forecast period.

Source: DataM Intelligence Analysis (2023)

Global Protein Engineering Market Geographical Share

North America Region Holds the Largest Market Share of the Global Protein Engineering Market

North America is expected to hold a dominant position in the global protein engineering market clinching 2/5th share of the total market, owing to the factors such as the growing elderly population, rising prevalence of chronic diseases, increased clinical trials by major companies, a highly structured health care sector, and availability of the latest techniques and instruments for drug discovery research.

For instance, according to the Centers for Disease Control and Prevention, in 2022, about 6 out of 10 adults are suffering from chronic disease in the U.S. Moreover according to the same source, the annual expenditure cost for chronic disease is approximately D 4.1 trillion in the U.S. 

According to the CDC's National Diabetes Statistics Report for 2022, 37.3 million individuals, or 11.3% of the U.S. population, have diabetes. Because of the growing prevalence of diabetes in the United States, demand for insulin is expected to rise, as will the need for protein-engineered artificial insulin. Therefore, owing to these factors, North America will dominate the global protein engineering market over the forecast period.

Source: DataM Intelligence Analysis (2023)

Protein Engineering Market Companies

The major global players in the market include GE Healthcare, Thermo Fisher Scientific, Inc., Agilent Technologies, Inc., Bio-Rad Laboratories, Inc., Bruker Corporation, Genscript Biotech Corporation, Codexis, Waters Corporation, New England Biolabs, and Merck KGaA.

COVID-19 Impact on Protein Engineering Market

The COVID-19 pandemic has had a substantial influence on the protein engineering business, with increasing demand for treatments and diagnostics driving research and development activities. Protein engineering approaches have been used in vaccine development, antiviral medication design, and diagnostic test development. 

Collaboration, financing, and a shift in research focus to viral proteins and immunological responses have propelled advances in protein engineering. However, supply chain interruptions have presented difficulties. Overall, the pandemic has highlighted the relevance of protein engineering in tackling global health issues and has fueled innovation in the area.

Russia Ukraine Conflict Analysis

The war between Russia and Ukraine has had a limited direct influence on the global protein engineering sector. However, indirect repercussions such as supply chain disruptions, economic instability, strained research collaborations, talent migration, and regulatory changes/trade barriers are possible. 

These factors may have an impact on resource availability, investment decisions, research funding, scientific development, and the global talent pool in protein engineering. However, it is vital to highlight that geopolitical conflicts are only one of several variables influencing the industry, with scientific developments and market demand having a larger impact. 

Key Developments

• In April 2023, Adaptyv Bio, a Swiss/US technology company that develops infrastructure and tools for protein designers to engineer better proteins, introduced a world-first full-stack protein engineering foundry to open the door for protein designers to develop new drugs, novel enzymes, and sustainable materials using generative AI, open-source software, and synthetic biology.
• In February 2022, Tierra Biosciences launched Tierra Protein Platform, an industry-first eCommerce gateway for Synthetic Biology Protein Engineering, which enables clients to have customized proteins synthesized, examined, and dispatched to them in a matter of minutes. Tierra's platform is a more efficient and easier alternative to standard ways of acquiring thousands of proteins for research and development. 
• In January 2023, Neochromosome, a wholly owned subsidiary of Opentrons Labworks, Inc., announced a collaboration with Sumitovant Biopharma Inc., a technology-driven biopharmaceutical company accelerating the development and commercialization of novel therapeutics. The collaboration brings together Neochromosome’s neoYeast technology and Sumitovant's DrugOME computational ecosystem to uncover new proteins that might benefit from non-canonical amino acid chemistries do not present in nature.

Why Purchase the Report?

• To visualize global protein engineering market segmentation based on product type, protein type, technology, end user, and region and understand key commercial assets and players.
• Identify commercial opportunities by analyzing trends and co-development. 
• Excel data sheet with numerous data points of global protein engineering market level with all segments.
• PDF report consists of a comprehensive analysis after exhaustive qualitative interviews and an in-depth study.
• Product mapping available as Excel consisting of key products of all the major players.

The global protein engineering market report would provide approximately 53 tables, 54 figures, and 195 Pages.

Target Audience 2024

• Manufacturers/ Buyers
• Industry Investors/Investment Bankers
• Research Professionals
• Emerging Companies