Protein Engineering Market to Reach $1,463.0 Million by 2020 – Report
According to Protein Engineering Market Research, this market is poised to reach $1,463.0 million by 2020 from $610.3 million in 2014, at a CAGR of 15.7% from 2015 to 2020. Factors that are driving Proteomics Industry worldwide are increase in adoption of protein drugs over non-protein drugs, high prevalence rate of lifestyle diseases, growth in funding for protein engineering, and reduction in overall timeline and cost for drug discovery.
Proteomics or Protein Engineering is one of the prominent sectors of structural biology and has wide range of applicability in biotechnology and pharmaceuticals industry.
The statistics are given by the report “Protein Engineering Market by Technology (Rational Protein Design, Irrational Protein Design), Product (Instrument, Services), Protein Type (Monoclonal Antibodies, Interferon, Growth Hormone), End User (Academics Institutes, CROs) – Global Forecast to 2020”, which aims to provide a detailed overview of major drivers, restraints, challenges, opportunities, current market trends and strategies impacting the global market along with estimates and forecast of revenue.
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The protein engineering market is segmented on the basis of product, technology, protein type, end user, and region. By product, the protein engineering market is categorized into instruments, reagents, and services and software. The instruments segment accounted for the largest share 41.4% of the global protein engineering market in 2014.
The protein engineering technology market is categorized into rational protein design, and irrational protein design. In this market, rational protein design is the largest and fastest growing segment. On the basis of end user the protein engineering market is classified into academic research institutes, pharmaceutical and biotechnology companies, and contract research organizations. In this market, pharmaceutical and biotechnology companies segment holds the major share followed by contract research organizations.
Based on protein type, the market is categorized into monoclonal antibodies, insulin, erythropoietin, interferon, colony stimulating factor, growth hormones, coagulation factor, vaccines and others (interleukins, follicle stimulating hormones, enzyme replacement). Monoclonal antibodies is the largest as well as fastest growing segment of the protein engineering protein type market. This growth is attributed to the increase in adoption of them for various therapies such as cancer and autoimmune diseases.
On the basis of geography, the protein engineering market is segmented into North America, Europe, Asia, and Rest of the World (RoW). North America is further segmented into U.S. and Canada. Asia is further segmented into China, Japan, India and Rest of Asia. In 2014, North America accounted for the largest share of the protein engineering market, followed by Europe. Both markets are estimated to register double-digit growth rates over the next five years.
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Key companies operating in the protein engineering market are Agilent Technologies (U.S.), AB-Sciex (U.S.), Bio-Rad Laboratories, Inc. (U.S.), Bruker Corp. (U.S.), GE Healthcare (U.K.), Perkin Elmer (U.S.), Sigma-Aldrich Corp. (U.S.), Thermo Fisher Scientific (U.S.), and Waters Corp. (U.S).
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