The Protein Engineering Market is growing rapidly owing to the factors such as increased preference of Protein drugs over non-Protein drugs, reduction of time and cost for drug discovery, and increasing prevalence of lifestyle diseases. According to a recent study report published by the Market Research Future, The global market of Protein Engineering is projected to grow at a rapid pace during the forecast period (2017 – 2024). The Market is forecasted to demonstrate a spectacular growth by 2024, surpassing its previous growth records in terms of value with a striking CAGR during the anticipated period (2017 – 2024).
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Protein Engineering is the designing and construction of new Proteins by modifying amino acid sequences to produce enzymes & desired properties or the synthesis of Protein with particular structure. It is an important technology that increases our basic understanding 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 objectives of Protein Engineering is to create an enzyme which is superior in its properties to produce high value chemicals in large quantities, and to produce biological compounds which includes synthetic peptide, storage Protein and synthetic drugs which will be superior to normal one.
Rising prevalence of Protein deficient chronic diseases and the demand for alternatives to chemical processes are together propelling the growth of Protein Engineering Market. The growth of this market is primarily associated with the increasing prevalence of the use of Protein engineering in healthcare institutes and hospitals. However, High cost of tools & instruments used and untrained personnel is the main restraints of this market.
Protein Engineering Market Competitive Analysis The Protein Engineering market appears to be highly competitive and fragmented owing to the presence of several large and small key players accounting for a substantial market share. Well established players incorporate acquisition, collaboration, partnership, expansion, product & technology launch in order to gain competitive advantage in this market and to maintain their market position. These players emphasis upon new product development initiatives, and geographical expansion. The rising number of government initiatives aimed at enhancing Protein engineering capabilities is anticipated to present the market with high growth potential. This has resulted in a significant rise in number of research activities & programs and fund allotment for R&D.
Key Players : 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)
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Protein Engineering Market Synopsis
Protein Engineering applications cover a broad range which also includes biocatalysts for food industry, and nanotechnology industry. Protein Engineering is been used in food and detergent market to improve the properties such as thermo stability, specificity and catalytic efficiency Engineering. Food industry makes use of a variety of food-processing enzymes, such as amylases and lipases, the properties of which are improved using recombinant DNA technology and Protein Engineering. Also it is beneficial to reduce the toxic compound and to improve the environmental applications, such as the use of enzymes in waste management and pollution control. The study of cancer treatment is one of the major interest areas in medical under Protein Engineering. Recently, the term “Modular Protein Engineering” has been introduced for emerging cancer therapies. It is also giving useful inputs for antibiotics.
Increasing number of engineered protein and amino acids globally is offering a valuable opportunity for growing the demand of protein engineering in the global market. There are certain factors which are proving as a restraint for the market of protein engineering such as lack of trained professional and high price and maintenance cost of engineering instrument and tools are proving to be a major factors for limiting the growth of the market. Along with this high funds requirement for Research and development, limitations in technology and less awareness among people are some of the factors which are hampering the market growth of protein engineering.
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The regional analysis consists of North America, Europe, and Asian market. The Protein Engineering market is been growing with an approximate rate of 50% worldwide. The market segments of North America include tissue Engineering, cell culture, Protein Engineering, biomaterials and micro-reactor. North America is leading in Protein Engineering market followed by Europe and Asia because of the rising prevalence of lifestyle associated diseases and increasing adoption of Protein based drugs in the region. Governments of the U.S., Canada, and Brazil have been highly supportive of advancements in Protein Engineering, creating a favourable regulatory environment for companies in the North American market. Asian Countries such as India, china, Japan are showing good growth in this market in upcoming years. The growth factors for the Protein Engineering market in these countries are the large pool of patients, increasing health care awareness, increasing health care expenditure, rising government initiatives, and rising funding for drug discovery in the region.
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