Rising prevalence of chronic diseases due to deficiency of protein such as kwashiorkor are the key factors driving the global protein engineering market. Healthcare practitioners prefer protein drugs owing to their versatility compared to non-protein drugs. Furthermore, advancements in drug exploration technology such as mass spectrometry and rising incidences of lifestyle induced diseases are also fueling the protein engineering market. In addition, rising geriatric population base, cost reduction in drug delivery and increasing government funding for protein engineering are expected to further propel the market growth over the forecast period.
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Monoclonal antibodies protein segment is anticipated as the fastest growing segment due to its increasing preference for several therapies such as cancer and autoimmune diseases. Other proteins used for treatment of diseases include insulin, interferons, colony stimulating factor, erthropoietins, growth hormones, vaccines, follicile stimulating hormones, enzyme replacement and interlukins. On the basis of technology, rational protein design technology is expected to witness sustainable growth owing to its increasing adoption compared to irrational design technology. On the basis of end user, pharmaceutical and biotechnology companies are anticipated to be the largest consumer of protein based drugs owing to technological advancements and rising R&D budgets in pharmaceutical sector.
Geographically, North America dominated the entire market in terms of revenue in 2014. Existence of protein based drug manufacturers, FDA approval of various proteins and increasing per capita expenditure on healthcare are the factors driving the protein engineering market in this region. Europe is expected to grow steadily due to rising geriatric population base. Asia Pacific is anticipated to witness fastest growth over the forecast period due to rapidly increasing awareness among people regarding the treatment of protein based diseases and sophisticated healthcare infrastructure in this region.
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Some key players operating in the global protein engineering market include AB Sciex, Bruker Corp., Agilent Technologies, Bio Rad Laboratories, Perkin Elimer, Thermo Fischer, GE Healthcare, Sigma Aldrich Corp. and Waters Corp. Various healthcare practitioners use protein therapy as an alternative of gene therapy. These players are adopting competitive strategies such as capital expenditure on patent expiration and research partnerships to sustain in the global protein engineering market.
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