Protein therapeutics are a rapidly expanding segment of Food and Drug Administration (FDA) approved drugs that will improve clinical outcomes over the long run. Protein engineering has potential to transform metabolic drug landscape through the development of smart, stimulus-responsive drug systems. It is the process of developing useful and/or valuable proteins. This novel technology can be used to develop protein drugs to treat a number of chronic diseases, such as cancer, diabetes, and other autoimmune diseases.
The global protein engineering market is estimated to account for US$ 2,238.5 Mn in terms of value by the end of 2022.
Increase in prevalence of chronic diseases and other autoimmune diseases around the world is expected to aid in the growth of the global protein engineering market over the forecast period. For instance, therapeutic proteins are widely used to treat cancer, HIV, and other autoimmune diseases. The increasing prevalence of chronic diseases, such as cancer and other autoimmune diseases has significantly increased the use of monoclonal bodies. Monoclonal antibodies, IFN, and cytokines are some vital examples of therapeutic proteins.
Chronic diseases are the leading causes of death and disability across the globe. According to the American Cancer Society, in 2022, there will be an estimated 1.9 million new cancer cases diagnosed and 609,360 cancer deaths in the United States.
Increase in adoption of protein drugs over non-protein drugs is expected to provide significant growth opportunities for players in the global protein engineering market. For instance, protein therapeutics are a rapidly expanding segment of FDA approved drugs that will improve clinical outcomes over the long run. Protein drugs has potential to treat various chronic diseases, such as cancer and other autoimmune diseases. As a result, the adoption of protein drugs over non-protein drugs has increased or expected to increase during the forecast period, and this in turn is expected to offer lucrative growth opportunities for players in the market.
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High development cost of therapeutic proteins and lack of skilled professionals are some major factors expected to hinder growth of the protein engineering market. For instance, despite many investments in the protein engineering segment (government funding for protein engineering and favorable government initiatives), there is a shortage of skilled professionals in developed & developing countries. For instance, advanced protein engineering technologies, such as high throughput screening, construction of a protein variant library need skilled & trained workforce or staff to perform the procedures.
Protein Engineering Market - Impact of Coronavirus (Covid-19) Pandemic
Worldwide, due to increase in prevalence of COVID-19 or rise in cases of COVID-19, protein engineering is being used to develop vaccines as well as for easy, rapid testing of coronavirus antibodies. Novel protein engineering methods can also accelerate the discovery of COVID-19 therapeutics. Moreover, use of protein engineering tools/techniques for developing drugs and vaccines for COVID-19 and increasing research and development activities related to protein-based therapeutics is expected to propel the growth of the market.
The global protein engineering market was valued at US$ 1,936.7 Mn in 2021 and is forecast to reach a value of US$ 5,355.8 Mn by 2028 at a CAGR of 15.6% between 2022 and 2028.
Among, protein type segment monoclonal antibodies segment held dominant position in the global protein engineering market in 2021, accounting for 38.5% share in terms of value, increasing approval and launch of new products is expected to propel growth of the segment during the forecast period.
The growth of the protein engineering market can be attributed to the increasing trend of using protein drugs over non-protein drugs. The main reason for this growing popularity is increasing choice for protein therapeutics and long-term clinical outcomes related to protein drugs, which in turn is promoting the use of protein therapeutics (drugs) across the globe. This unprecedented demand has led to a significant increase in the adoption of protein engineering tools and this trend is expected to continue during the forecast period.
Major players operating in the global protein engineering market include Codexis Inc., Abzena, Ltd., Enantis s.r.o, GenScript Biotech Corp., Waters Corporation, Bruker Corporation, Agilent Technologies, Bio-Rad Laboratories Inc., PerkinElmer, Inc., and Thermo Fisher Scientific Inc., among others.
In July 2021, Eli Lilly & Company acquired Protomer Technologies. This acquisition will help Eli Lilly to enhance its diabetes portfolio and pipeline with Protomer’s innovative technology program of glucose-sensing insulin based on its proprietary molecular engineering of protein sensors (MEPS) platform.
In 2019, Creative Biolabs launched a new product into the industry known as cd25 monoclonal antibody. The antibody can be widely used in conditions like organ rejection by the body after organ transplantation, especially kidney transplants.
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