What is the future of Protein Engineering Market? Know Covid Impact on
Size, Share & Forecasts

Mar 10,2021/IndustryNewsGlobal/ The unexpected shifts in the global
markets because of the sudden outbreak of the COVID-19 virus have brought many
major and minor tremors to industries of all sizes including the Protein
Engineering Market.

It was estimated prior to this unanticipated
outbreak that the Protein Engineering Market was expected to grow at a CAGR of 12.6%
during the forecast period. However, the gradual slowing down of industries
will undoubtedly impose limits on the previously estimated growth rate.

Protein engineering is the
process of altering a protein sequence to attain a desired result such as
increased stability to the temperature, organic solvents, and/or extremes of pH
or a change in the substrate capacity. Protein engineering can be categorized
by protein type into monoclonal antibodies, erythropoietin, interferons,
vaccines, colony-stimulating factors, growth hormones, coagulation factors, and
others. On the basis of products & services the market can be categorized
into instruments, consumables, and software & services. On the basis of
technology type, the market can be categorized into rational protein design and
irrational protein design. Major end-user in the market are biopharmaceutical
companies, contract research organizations, and academic research institutes.

This report studies the market
covering a period of 12 years of trend and forecast. The report provides
detailed insights into the market dynamics to enable informed business decision
making and growth strategy formulation based on the opportunities present in
the market.

Based on the products &
services type, the market is segmented as instruments, consumables, and
software & services. The instrument segment held the largest share
of the market in 2019, and is expected to remain dominant during the
forecast period. Technological advancements and the high price of mass
spectroscopy and crystallography instruments are the major factors leading to
dominance of the instrument segment.

Based on the protein type, the
market is segmented as monoclonal antibodies, erythropoietin, interferons,
vaccines, colony-stimulating factors, growth hormones, coagulation factors, and
others. The monoclonal antibodies segment dominated the market in 2019,
and is expected to maintain its position during the forecast period.
Increasing demand for monoclonal antibodies for the treatment of cancer,
neurological diseases, and infectious diseases is the major factor behind its
dominance.

In terms of regions, North
America is estimated to be the largest market during the forecast
period. Presence of well-established CROs, increasing investment towards
R&D, and the availability of the latest techniques and instruments for drug
discovery research are the major factors behind the dominance of the North
American market.

Asia-Pacific is expected to be the
fastest-growing market during the forecast period. Advancements in genomics and
proteomics research and government initiatives and funding for protein-based
drug research in key countries are the major factors behind the extra-ordinary
growth of the region’s market.