Protein Engineering Market, By Product Type (Modified Enzymes, Insulin, Monoclonal Antibodies, Coagulation Factors , Vaccines , Growth Factors, and Other Product Types), By Technology (Irrational Protein Design and Rational Protein Design ), By End User (Pharmaceutical and Biotechnology Companies, Contract Research Organizations, Academic Institutions, and Others), By Geography (North America, Latin America, Europe, Asia Pacific, Middle East & Africa)

Published In : Jun 2024

Code : CMI5272

Pages :170

Formats :

Excel and PDF

Industry : Biotechnology

Protein Engineering Market Size and Trends

The protein engineering market is estimated to be valued at USD 3.61 Billion in 2024 and is expected to reach USD 10.4 Billion by 2031, growing at a compound annual growth rate (CAGR) of 16.3% from 2024 to 2031.

Protein Engineering Market Key Factors

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The protein engineering market is expected to witness significant growth over the forecast period. Increasing R&D investments by pharmaceutical and biotechnology companies and the rising prevalence of chronic diseases are some key factors driving the demand for protein engineering solutions. Additionally, the growing focus on structure-based drug design and the influx of new technologies are further expected to propel the market forward. Advanced protein engineering platforms help streamline the development of improved therapeutics such as antibodies, vaccines, and enzymes. This is anticipated to boost the volume of research activities done using protein engineering techniques over the coming years.

The escalation in chronic disease prevalence and the growing demand for targeted therapies are on the rise

The rising prevalence of chronic diseases across the world coupled with the growing demand for targeted therapies is one of the major factors driving the growth of the protein engineering market. With lifestyle changes and aging population, non-communicable diseases like cancer, diabetes, and cardiovascular disorders have become one of the leading causes of mortality and morbidity worldwide. The increasing prevalence of chronic diseases in North America is expected to drive the demand for protein-engineered therapies, leading to market growth. For instance, in November 2023, an article from the American Diabetes Association reported approximately 1.2 million new cases of diabetes were diagnosed annually in the U.S. Consequently, the rising burden of diabetes is likely to elevate the demand for insulin, including protein-engineered artificial insulin, thereby stimulating market expansion.

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Advancements in Agricultural Biotechnology

There is immense scope for advancing agricultural biotechnology and crops through protein engineering techniques. Proteins play a vital role in various agricultural applications including crop protection, yield improvement, nutrient quality enhancement, and abiotic stress tolerance. Protein engineering provides tools to modify plant proteins involved in key biological pathways and introduce novel traits of agronomic importance. For instance, enzymes can be engineered to alter metabolic pathways enhancing photosynthetic efficiency, biomass production, and nutrient uptake in crops. Stress-responsive proteins from extremophiles may confer drought, cold, saline, and pest/disease tolerance when transferred to crop plants. Designing better binding or catalytic properties in proteins can help develop herbicide- and pest-resistant transgenic crops. Engineering plant storage proteins can help enhance their nutritional profile making staple crops more nutritious.