MRFR believes that the protein engineering market would capture an approximate CAGR of 6.2% from 2020 to 2027
Market Scope
Market Research Future (MRFR) believes that the protein engineering market would capture an approximate CAGR of 6.2% from 2020 to 2027.
Prominent Boosters and Challenges
Protein engineering is widely utilized for circumventing issues and challenges attached with drugs, possessing the ability to elevate the efficacy and affinity of molecules for multiple applications, like cardiac repair. This has unprecedentedly fostered the demand as well as the adoption of protein engineering tools for developing advanced therapeutics, leading to rapid business progression. For example, advent of mAbs (recombinant Monoclonal Antibodies) is created by the extensive deployment of advanced protein engineering tools. The chimerization and humanization of mAbs as well as various approaches to better them in the vivo activity has given way to numerous alternatives for treating various types of cancers, autoimmune diseases, transplant rejections, and several conditions.
Growing urgency to cut down significant R&D expenditure in clinical studies is an important growth rendering factor in the global market. High costs are brought on by significant failure rates during the preclinical stage. The commercialization and marketing of new drug molecules is quite complex and results in long durations. Close to 40% of compounds witness failure during the early stages of the clinical trials, contributing significantly to the costs. This has thrown light on the importance of protein engineering tools among biotech and pharma firms, thereby adding to the revenues.
Market Segmentation
The protein engineering market research has been considered for type, method, application, and end-users.
Different types of protein engineering are reagents, services and software along with instrument.
Various methods studied in the MRFR report include rational protein design as well as directed evolution.
Major applications are environment applications, food and detergent industries, biopolymer production, nanobiotechnology, and medical applications.
Prominent end-users profiled in the market study include pharmaceuticals and biotechnology companies, contract engineering organizations, and academic research institutes.
Regional Status
The major regions across which the protein engineering industry will note growth during the review period are Americas, Asia Pacific, the Middle East and Africa, and Europe.
The North American market has been growing by leaps and bounds, successfully taking the lead backed by the extensive concentration of highly reputed players along with the exponential surge in the number of pharmaceutical and biotechnology firms. The biggest market in the region belongs to the US, while Canada comes a close second. The US market stands to benefit from the extensive use of protein engineering methods and technologies combined with the availability of sophisticated instruments and devices for use in research activities. Manufacturers in the region frequently enter partnerships and collaborations to foster their R&D capabilities while several pharmaceutical vendors are involved in commercializing advanced engineering tools. This helps create a favorable scenario for the protein engineering market in North America.
Europe is the second most profitable market and will continue to flourish, thanks to the surging usage of protein engineering technologies and methods. The incredible expansion of the research and development sector across the U.K., France, and Germany, also adds to the market’s gains in the region.
Asia Pacific will show the fastest growth trajectory in the following years, fuelled primarily by the surging burden of lifestyle disorders such as obesity, diabetes, heart diseases, and more. Soaring requirement for modern new technologies in the healthcare sector and the expanding presence of contract research organizations benefits the APAC industry as well.
Leading Companies
Waters Corp. (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.), AB-Sciex (U.S.), Thermo Fisher Scientific (U.S.), Agilent Technologies (U.S.), are some of the key manufacturers in the worldwide market.
About Market Research Future:
Market Research Future (MRFR) is a global market research company that takes pride in its services, offering a complete and accurate analysis with regard to diverse markets and consumers worldwide. Market Research Future has the distinguished objective of providing the optimal quality research and granular research to clients. Our market research studies by products, services, technologies, applications, end users, and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help answer your most important questions.
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