Detailed Study of Protein Engineering Market by Research Cosmos
Protein Engineering Market Size and Growth Rate:
As per the latest reports published by Research Cosmos, Protein Engineering Market was valued at USD 1,095 million in 2017 and projected to reach USD 2,592 million by 2022 growing at a CAGR of 15.1% during the forecast period 2017 to 2022.
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Protein Engineering Market Growth Drivers and Restraints:
The demand for protein engineering in developing countries is coupled with the preference of protein therapy over the gene therapy and expiry of top biologics drugs in the near future. Other factors include, increased demand for alternatives to chemical processes, increasing prevalence of protein deficient diseases and improved government funding. Pharmaceutical & biotechnology companies hold a dominant share in the global market and can be attributed to the increasing adoption of in silico models to develop new protein-based drugs in the following applications like cancer, diabetes, and central nervous system diseases.
Despite many investments in the protein manufacturing sector, there is shortage of skilled labour, which is hindering the market in most of the developed and under-developed countries. Few of the recent advancements in protein engineering technologies such as genetic engineering, high-throughput screening, X-ray crystallography etc., require skilled technicians. Regulatory authorities are consistently striving to reduce time and cost involved in the process of drug discovery and the lookout for better applications to this concept of protein engineering is expected to grow in the coming years.
Geographical Analysis of Protein Engineering Market:
Geographically, the market is divided into North America, Europe, Asia-Pacific, and Latin America, Middle East & Africa. North America is dominating the market mainly due to the rising prevalence of lifestyle associated diseases and increasing adoption of protein-based drugs in the regions. Growth of this market in these regions is also propelled by the increase in adoption of protein drugs over non-protein drugs, the high prevalence rate of lifestyle diseases, growth in funding for protein engineering and reduction in overall timeline and the cost for drug discovery. Expensive and high maintenance tools and instruments used in protein engineering and dearth of trained personnel are hindering the market in many under developed regions.
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Key Players of Protein Engineering Market:
The global key players are Agilent Technologies, Thermo Fisher Scientific, Waters Corporation, Absciex, Biogen, Bio-Rad Laboratories, Inc., Bruker Corporation, Danaher Corporation, Fusion antibodies and more.
Protein Engineering Market Segmentation:
By Product Type:
- Instruments
- Services and Software
- Reagents
By Protein Type:
- Monoclonal antibodies
- Insulin
- Erythropoietin
- Interferon
- Colony-stimulating factor
- Growth hormones
- Coagulation factor
- Vaccines
By Technology:
- Rational protein design
- Irrational protein design
By End User:
- Academic Research Institutes
- Medical Industry
- Food Industry
By Region:
- North America
- South America
- Europe
- Asia Pacific
- Middle East and Africa
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