(IT-NEWSWIRE.COM, July 22, 2021 ) [146 Pages Report] The global protein engineering market is projected to reach USD 3.9 billion by 2024 from USD 2.2 billion in 2019, at a CAGR of 12.4% during the forecast period.
The growth of Protein Antibody Engineering Market is majorly driven by factors such as the increasing investments in synthetic biology and the growing focus on protein-based drug development by pharmaceutical and biotechnology companies. However, factors such as the high cost of instruments and laboratory documentation systems are expected to restrain the growth of Protein Engineering Market during the forecast period.
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Instruments segment to account for the largest share of the market, by product & service, in 2019
Based on product & service, the market is segmented into instruments, consumables, and software & services. Instruments formed the largest product segment in this market owing to technological advancements and the high price of mass spectroscopy and crystallography instruments (as compared to consumables).
Rational protein design is the largest technology segment in the protein engineering market
Based on technology, the protein engineering market is segmented into rational and irrational protein design. The rational protein design segment accounted for the largest share of the market in 2019. The large share of this segment can be attributed to the increasing use and continuous upgrades of bioinformatics platforms and software for protein analysis.
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North America accounted for the largest share of the global protein antibody engineering market in 2019
The global Protein Antibody Engineering Market is segmented into four major regions, namely, North America, Europe, the Asia Pacific, and the Rest of the World. In 2019, North America accounted for the largest share of the global market, closely followed by Europe. Factors such as the presence of well-established CROs, rising R&D expenditure, and the availability of the latest techniques and instruments for drug discovery research are responsible for the large share of the North American market
Key Market Players:
Bio-Rad Laboratories, Inc. (US), Thermo Fisher Scientific, Inc. (US), Bruker Corporation (US), Agilent Technologies, Inc. (US), Waters Corporation (US), Danaher Corporation (US), Codexis, Inc. (US), New England Biolabs, Inc. (US), PerkinElmer (US), Innovagen AB (Sweden), GE Healthcare (US), CUSABIO TECHNOLOGY LLC (US), Promega Corporation (US), Merck KGaA (Germany), GenScript Biotech Corporation (US), Takara Bio, Inc. (Japan), Enantis S.R.O. (Czech Republic), InvivoGen (US), Pace Analytical (US), Aspira Chemical (US), Zymeworks, Inc. (Canada), Abzena, Ltd. (UK), PhyNexus, Inc. (US), ProteoGenix (US), and Creative Biolabs (US)
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Mr. Aashish Mehra