The "global Protein Engineering Market is poised for substantial growth, with projections indicating a remarkable 22.35% compound annual growth rate (CAGR) from 2024 to 2030" By the end of the forecast period, the market is expected to reach approximately USD 8.78 billion.

Key Drivers and Challenges

The surge in market growth can be attributed to the increasing prevalence of diseases, which fuels demand for innovative protein therapeutics. Moreover, government initiatives aimed at bolstering protein engineering capabilities are anticipated to create significant growth opportunities. Trends in protein identification and tracking, along with the expanding use of protein studies in research, further contribute to the market's upward trajectory.

However, the market faces challenges such as the high cost of advanced instruments and the shortage of skilled personnel. These factors could hinder the market's expansion if not addressed effectively.

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Report Coverage Details:

• Base Year: 2023
• Forecast Period: 2024-2030
• Historical Data: 2018 to 2023
• Market Size in 2023: US$ 2.14 Bn.
• Forecast Period 2024 to 2030 CAGR: 22.35%
• Market Size in 2030: US$ 8.78 Bn.

Market Segmentation

The protein engineering market is segmented as follows:

• Product: Includes instruments, reagents, and services & software.
• Technology: Divided into rational and irrational protein design.
• Protein Type: Encompasses monoclonal antibodies, insulin, erythropoietin, interferon, colony stimulating factors, growth hormones, coagulation factors, vaccines, and others.
• End User: Comprises academic research institutes, pharmaceutical & biotechnology companies, and contract research organizations.
• Region: North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa.

Regional Insights

North America currently dominates the market due to its high adoption of protein-based drugs and the rising prevalence of lifestyle-related diseases. Europe and Asia-Pacific follow, driven by increasing healthcare investments and research activities.

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Key Players

The market features a range of key players, including:

• Bio-Rad
• Bruker
• GE
• PerkinElmer
• Sigma-Aldrich
• Waters
• Agilent Technologies
• Genscript
• Intrexon
• Lonza
• Thermo Fisher Scientific
• Ab-Sciex
• Merck KGaA
• Aragen Bioscience
• Codexis
• Arzeda
• Novartis AG
• GlaxoSmithKline
• Eli Lilly and Company
• Johnson & Johnson
• Genentech

Scope and Methodology

The report provides a thorough analysis of the protein engineering market, incorporating PESTEL and PORTER analyses to assess external and internal factors affecting the industry. It includes a detailed examination of market trends, competitive dynamics, and growth forecasts from 2024 to 2030.

For more detailed insights and data, the report offers a comprehensive view of market dynamics and key player strategies.

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