According to the new market research report "Protein Engineering Market by Technology (Rational Design, Irrational Design), Product & Service (Instrument, Consumables), Protein Type (Monoclonal Antibodies, Insulin), End User (Academics Institutes, Biopharmaceuticals, CROs) - Global Forecast to 2024", published by MarketsandMarkets™, the Protein Engineering Market is estimated to grow from USD 2.2 billion in 2019 to USD 3.9 billion by 2024, at a CAGR of 12.4% during the forecast period.
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Factors such as the increasing investments in synthetic biology and the growing focus on protein-based drug development by pharmaceutical and biotechnology companies are expected to drive the growth of this market in the coming years.
Instruments segment accounted for the largest share of the Protein Engineering Market, by product & service, in 2019
Based on product & service, the market is segmented into instruments, consumables, and software & services. Instruments accounted for the largest share of this market in 2019 owing to the technological advancements in mass spectrometry and X-ray crystallography and their ability to integrate with other technologies.
Monoclonal antibodies segment accounted for the largest share of the Protein Engineering Market, by protein type, in 2019
Based on protein type, the market is segmented into monoclonal antibodies, insulin, erythropoietin, interferons, vaccines, colony-stimulating factors, growth hormones, coagulation factors, and other proteins.
Browse in-depth TOC on "Protein Engineering Market"
132 – Tables
32 – Figures
146 – Pages
Rational protein design was the largest technology segment in the Protein Engineering Market in 2019
Based on technology, the market is segmented into rational and irrational protein design. The rational protein design segment accounted for the largest share of the market, majorly due to the increasing use and continuous upgrades of bioinformatics platforms and software for protein analysis.
Biopharmaceutical companies were the largest end users of protein engineering products and services in 2019
Based on end user, the Protein Engineering Market is segmented into biopharmaceutical companies, contract research organizations, and academic research institutes.
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).
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