Protein Engineering Market Size

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.