Global Protein Engineering Market is expected to grow at a CAGR of approximately 6.2% during the forecast period 2017–2023. Proteins, the building blocks of the body, are large biomolecules made up of amino acids. They perform various functions such as DNA replication, catalyzing metabolic reactions, transporting molecules from one location to another, and responding to stimuli. Furthermore, proteins also have a wide range of applications in the diagnosis of disease and treatment development.
Protein engineering involves designing and constructing new proteins by modifying amino acid sequences to produce enzymes and desired properties and the synthesis of proteins with a particular structure. This technology helps us to understand the basics of how enzymes function and have evolved, and it is the key method of improving enzyme properties for applications in pharmaceuticals, green chemistry, and biofuels.
The major objective of protein engineering is to produce biological compounds which include a synthetic peptide, storage protein, and synthetic drugs which will be superior to a normal one and create an enzyme which is superior in its properties to produce high-value chemicals in large quantities.
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The global protein engineering market is driven by the increasing demand for new technologies having their application in healthcare and by the growth in research and development activities for improving health outcomes using novel technologies.
Furthermore, the emergence of trends in protein identification and tracking and the increasing use of protein studies in research activities drive the growth of this market. However, there are various factors that may hinder the growth of the market such as expensive instruments used in protein engineering that require huge maintenance and lack of trained personnel.
Agilent Technologies (U.S.), AB-Sciex (U.S.), Bio-Rad Laboratories, Inc. (U.S.), Bruker Corp. (U.S.), GE Healthcare (U.K.), Perkin Elmer (U.S.), Sigma-Aldrich Corp. (U.S.), Thermo Fisher Scientific (U.S.), and Waters Corp. (U.S).
The global protein engineering market is segmented to the basis of type, method, application, and end-users.
On the basis of type, the market is segmented into instrument, reagents, and services and software.
On the basis of method, the market is segmented into rational protein design and directed evolution.
On the basis of application, the market is segmented into food and detergent industries, environment applications, medical applications, biopolymer production, and nanobiotechnology.
On the basis of end-user, the market is segmented into academic research institutes, pharmaceuticals and biotechnology companies, and contract engineering organizations.
Globally, protein engineering market consists of four regions, namely, Americas, Europe, Asia Pacific, and the Middle East and Africa. North America is the largest market owing to the concentration of major market players and increase in a number of biotechnology and pharmaceutical companies. The U.S. is the largest market in North America followed by Canada. In the U.S., extensive protein engineering technologies and methods and availability of technologically-advanced devices and instruments for research also drive the growth of the market.
Europe is the second largest market for protein engineering which is majorly driven by the increasing demand for protein engineering methods and technologies and the overall growth of research and development sector in major countries such as Germany, the U.K., and France. Furthermore, the growth in funding for protein engineering and emphasis on drug discovery are other factors expected to drive the growth of the market during the review period.
Asia Pacific shows the fastest growth which is driven by the rising prevalence of lifestyle diseases such as heart diseases, diabetes, obesity, and others and need for new technologies with their application in healthcare.
The Middle East and Africa shows a steady but positive growth with an increase in the demand for new drugs and devices for diagnosis and the treatment of diseases and improvement in healthcare infrastructure.
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