Protein Engineering Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)

The Market Report Covers Global Protein Engineering Companies. It is Segmented by Product Type (insulin, Monoclonal Antibodies, Coagulation Factors (blood Factors + Tissue Plasminogen), Vaccines, Growth Factors (hormones + Cytokines), and Other Product Types), Technology (irrational Protein Design and Rational Protein Design), End-User (pharmaceutical and Biotechnology Companies, Academic Institutions, and Contract Research Organizations (CROs)), and Geography (North America, Europe, Asia-Pacific, Middle East and Africa, and South America). The Value is Provided in Terms of USD for the Above Segments.

Protein Engineering Market Size

Protein Engineering Market Summary
Study Period 2019-2029
Market Size (2024) USD 3.52 Billion
Market Size (2029) USD 7.47 Billion
CAGR (2024 - 2029) 16.25 %
Fastest Growing Market Asia Pacific
Largest Market North America

Major Players

Protein Engineering Market Major Players

*Disclaimer: Major Players sorted in no particular order


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Protein Engineering Market Analysis

The Protein Engineering Market size is estimated at USD 3.52 billion in 2024, and is expected to reach USD 7.47 billion by 2029, growing at a CAGR of 16.25% during the forecast period (2024-2029).

The COVID-19 pandemic had a significant impact on the healthcare systems, with significant consequences not only for COVID-19-infected patients but also for others, resulting in the cancellation of treatment procedures to manage and reserve resources, and many hospitals are experiencing a shortage of professionals to assist with the treatments. With the increase in COVID-19 cases, protein engineering was utilized to develop vaccines. For instance, in July 2021, researchers at the Eindhoven University of Technology in Germany created a bioluminescent testing kit that was used to confirm if someone’s immune system was producing antibodies in response to the coronavirus. The technology used in the bioluminescent testing kit was based on fusing two protein domains to the sensor protein complex: a blue light-emitting luciferase enzyme and a green fluorescent protein. The emergence of such techniques to identify COVID-19 antibodies in patients notably impacted the growth of the market during the pandemic. Currently, the utilization of protein engineering techniques for developing various vaccines and drugs and increasing research and development activities related to protein-based therapeutics is expected to increase the growth of the studied market in the future.

The propelling factors for the growth of the protein engineering market include the increase in chronic diseases, the rise in demand for targeted therapies, and rising government funding for protein engineering studies. For instance, as per the article published in October 2022 in PubMed, a key component of precision medicine for cancer treatment is molecular targeted therapy, which employs small molecule drugs or therapeutic monoclonal antibodies functioning as signal transduction inhibitors. Thus, the implementation of targeted therapies in cancer treatment is likely to bolster market growth over the forecast period.

Furthermore, the rising number of government initiatives to support protein engineering capabilities, along with the increases in research and development activities, funding, and investments, are also contributing to the growth of the market. For instance, in April 2023, Swiss Adaptyv Biosystems Sàrl launched two fast-feedback tools that allow cheap, rapid, and miniaturized validation of AI-designed proteins. The new tool is intended to open the way for protein designers to develop new medicines, novel enzymes, and sustainable materials. Similarly, in January 2022, Amgen and Generate Biomedicines entered into a research collaboration to discover and create protein therapeutics for five clinical targets across several therapeutic areas and multiple modalities. Hence, the increasing number of strategic activities by the key players for efficient protein engineering research helps drive the overall growth of the market. However, the high costs of protein engineering techniques are likely to restrain the market growth over the forecast period.

Protein Engineering Market Trends

Monoclonal Antibodies Segment is Anticipated to Witness a Notable Growth Over the Forecast Period

Monoclonal antibodies are being used in the diagnosis and treatment of many diseases, including some types of cancer. They can be used alone or to carry drugs, toxins, or radioactive substances directly to cancer cells. Monoclonal antibodies are anticipated to hold a notable market share over the forecast period, owing to their high adoption for numerous therapies, such as cancer and autoimmune diseases, increase in product launches coupled with various strategic activities of the key players. For instance, as per the Cancer in Australia statistics, 162,163 cancer cases were diagnosed in Australia in 2022. The high prevalence of cancer cases is expected to favor adopting monoclonal antibody treatments, thereby likely fueling the segment growth over the forecast period. Besides, various monoclonal antibody therapies are found to be effective in treating cancer. For instance, as per the article published in February 2022 in Nature Journal, monoclonal antibodies are a promising class of targeted anticancer medicines that improve the functioning of the body's immune system to inhibit the growth and spread of cancer cells. The creation of numerous therapeutic antibodies, including antibody fragments, bispecific antibodies, and antibody derivatives, has been sparked by the successful use of IgG monoclonal antibodies (e.g., antibody–drug conjugates and immune cytokines). Thus, the rising burden of breast cancer cases among the population is increasing the demand for better treatment options, which is expected to increase the market growth over the forecast period.

Moreover, the rising company activities for developing protein-engineered drugs for treating various diseases are likely to increase the demand for protein-based therapeutics, which is expected to augment the market growth. For instance, in September 2023, KBI Biopharma, Inc., launched SUREmAb, a vertically integrated global offering built on KBI’s SUREtechnology Platform for optimized, safe, and cost-efficient monoclonal antibody (mAb) development and manufacturing. Similarly, in October 2022, the FDA granted accelerated approval to teclistamab (Tecvayli) to treat some people with multiple myeloma. The approval, based on the results of the MajesTEC-1 trial, is for adults with multiple myeloma who have come back after at least four prior lines of treatment.

Therefore, the increasing product launches and rising prevalence of cancer and autoimmune diseases among the population are likely to boost segment growth, thereby increasing segment growth over the forecast period.

Protein Engineering Market: Estimated Number of New Cancer Cases (in Thousand), by Type, United States, 2023

North America Anticipated to Hold a Significant Market Share Over the Forecast Period

North America is expected to hold a significant major market share in the protein engineering market owing to factors such as the rising incidence of chronic diseases, supportive government policies, high healthcare spending, and increasing adoption of protein drugs over non-protein drugs. For instance, according to the 2023 update by the Centers for Disease Control and Prevention (CDC), about 37.3 million Americans have diabetes, and 7.3 million of those are undiagnosed. Thus, the high prevalence of diabetes among the population is likely to increase the demand for insulin, further increasing the demand for protein-engineered artificial insulin, thereby boosting market growth.

Additionally, according to the Canadian Cancer Statistics 2022 Special Report, 233,900 people were diagnosed with cancer in 2022 in Canada. Breast, prostate, and colorectal cancers were the most prevalent cancers. Combined, they account for almost half of all prevalent cases. Hence, the high incidence of cancer cases is expected to raise the demand for protein drugs and treatments, which favors the market growth over the forecast period.

Moreover, the existence of key market players in the region focusing on developing protein engineering drugs/vaccines and digital platforms, increasing product approvals, and new product launches are providing better treatment options, which are likely to boost the growth of the market. For instance, in December 2022, Ginkgo Bioworks launched Ginkgo Enzyme Services, which is powered by ultra-high throughput screening and machine learning-guided protein design, as well as optimized proprietary bacterial and fungal host strains. Ginkgo's suite offers end-to-end processes for enzyme R&D, providing synergies between enzyme sequence, host strain, manufacturing processes, and protein engineering.

Therefore, the rising burden of chronic diseases, the increasing geriatric population, and increasing product approvals in North America are projected to boost the market growth over the study period.

Protein Engineering Market- Growth Rate by Region

Protein Engineering Industry Overview

The protein engineering market is partially fragmented in nature, and the key players are highly focused on strategies, such as mergers and acquisitions, new product development initiatives, and geographical expansion, to retain their market position. Some of the market players include Amgen Inc., Bruker Corporation, Bio-Rad Laboratories Inc., Agilent Technologies Inc., Merck KGaA, and Thermo Fisher Scientific Inc.

Protein Engineering Market Leaders

  1. Amgen Inc.

  2. Bruker Corporation

  3. Bio-Rad Laboratories Inc.

  4. Agilent Technologies Inc.

  5. Eli Lilly and Company

*Disclaimer: Major Players sorted in no particular order

Protein Engineering Market Concentration
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Protein Engineering Market News

  • January 2023: Neochromosome, Inc., a wholly owned subsidiary of Opentrons Labworks, Inc., collaborated with Sumitovant Biopharma Inc., a technology-driven biopharmaceutical company accelerating the development and commercialization of novel therapeutics. The goal of this collaboration is to find novel proteins that would benefit from non-canonical amino acid chemistries that are not present in nature by combining Neochromosome's neoYeast platform with Sumitovant's DrugOME computational ecosystem.
  • January 2023: Becton, Dickinson, and Company, a global medical technology company, launched a new robotic track system for the BD Kiestra microbiology laboratory solution that automates lab specimen processing, which is likely to help reduce manual labor and wait time for results.

Protein Engineering Market Report - Table of Contents


    1. 1.1 Study Assumptions and Market Definition

    2. 1.2 Scope of the Study




    1. 4.1 Market Overview

    2. 4.2 Market Drivers

      1. 4.2.1 Increasing in Prevalence of Chronic Diseases and Rise in Demand for Targeted Therapies

      2. 4.2.2 Rising Government Funding for Protein Engineering Studies

    3. 4.3 Market Restraints

      1. 4.3.1 High Costs of Protein Engineering Techniques

    4. 4.4 Porter's Five Forces Analysis

      1. 4.4.1 Bargaining Power of Suppliers

      2. 4.4.2 Bargaining Power of Buyers/Consumers

      3. 4.4.3 Threat of New Entrants

      4. 4.4.4 Threat of Substitute Products

      5. 4.4.5 Intensity of Competitive Rivalry

  5. 5. MARKET SEGMENTATION (Market Size by Value - USD)

    1. 5.1 By Product Type

      1. 5.1.1 Insulin

      2. 5.1.2 Monoclonal Antibodies

      3. 5.1.3 Coagulation Factors

      4. 5.1.4 Vaccines

      5. 5.1.5 Growth Factors

      6. 5.1.6 Other Product Types

    2. 5.2 By Technology

      1. 5.2.1 Irrational Protein Design

      2. 5.2.2 Rational Protein Design

    3. 5.3 By End User

      1. 5.3.1 Pharmaceutical and Biotechnology Companies

      2. 5.3.2 Academic Institutions

      3. 5.3.3 Contract Research Organizations

    4. 5.4 Geography

      1. 5.4.1 North America

        1. United States

        2. Canada

        3. Mexico

      2. 5.4.2 Europe

        1. Germany

        2. United Kingdom

        3. France

        4. Italy

        5. Spain

        6. Rest of Europe

      3. 5.4.3 Asia-Pacific

        1. China

        2. Japan

        3. India

        4. Australia

        5. South Korea

        6. Rest of Asia-Pacific

      4. 5.4.4 Middle East and Africa

        1. GCC

        2. South Africa

        3. Rest of Middle East and Africa

      5. 5.4.5 South America

        1. Brazil

        2. Argentina

        3. Rest of South America


    1. 6.1 Company Profiles

      1. 6.1.1 Agilent Technologies Inc.

      2. 6.1.2 Amgen Inc.

      3. 6.1.3 Bruker Corporation

      4. 6.1.4 Bio-Rad Laboratories Inc.

      5. 6.1.5 Eli Lilly and Company

      6. 6.1.6 Merck KGaA

      7. 6.1.7 Novo Nordisk AS

      8. 6.1.8 PerkinElmer Inc.

      9. 6.1.9 Thermo Fisher Scientific Inc.

      10. 6.1.10 Waters Corporation

      11. 6.1.11 Genscripts USA, Inc.

      12. 6.1.12 GE Healthcare

    2. *List Not Exhaustive

**Subject to Availability
**Competitive Landscape covers- Business Overview, Financials, Products and Strategies and Recent Developments
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Protein Engineering Industry Segmentation

As per the scope of the report, protein engineering is the manipulation of the structures of proteins to produce the desired properties or the synthesis of proteins with particular structures. 

The protein engineering market is segmented by product type (insulin, monoclonal antibodies, coagulation factors, vaccines, growth factors, and other product types), technology (irrational protein design and rational protein design), end-user (pharmaceutical and biotechnology companies, academic institutions, and contract research organizations), and geography (North America, Europe, Asia-Pacific, the Middle East and Africa, and South America). The report offers the value (in USD) for the above segments. The market report also covers the estimated market sizes and trends for 17 countries across major regions globally.

It is a process by which novel proteins with desired properties are developed. The value is provided in terms of USD for the above segments.

By Product Type
Monoclonal Antibodies
Coagulation Factors
Growth Factors
Other Product Types
By Technology
Irrational Protein Design
Rational Protein Design
By End User
Pharmaceutical and Biotechnology Companies
Academic Institutions
Contract Research Organizations
North America
United States
United Kingdom
Rest of Europe
South Korea
Rest of Asia-Pacific
Middle East and Africa
South Africa
Rest of Middle East and Africa
South America
Rest of South America
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Protein Engineering Market Research FAQs

The Protein Engineering Market size is expected to reach USD 3.52 billion in 2024 and grow at a CAGR of 16.25% to reach USD 7.47 billion by 2029.

In 2024, the Protein Engineering Market size is expected to reach USD 3.52 billion.

Amgen Inc., Bruker Corporation, Bio-Rad Laboratories Inc., Agilent Technologies Inc. and Eli Lilly and Company are the major companies operating in the Protein Engineering Market.

Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).

In 2024, the North America accounts for the largest market share in Protein Engineering Market.

In 2023, the Protein Engineering Market size was estimated at USD 2.95 billion. The report covers the Protein Engineering Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Protein Engineering Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.

Protein Engineering Industry Report

Statistics for the 2024 Protein Engineering market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Protein Engineering analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.

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Protein Engineering Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)