The growth of this market is majorly driven by factors such as the increasing investments in synthetic biology and the growing focus on protein-based drug development by pharmaceutical and biotechnology companies.
The rational protein design segment accounted for the largest share of the market in 2019. The large share of this segment can be attributed to the increasing use and continuous upgrades of bioinformatics platforms and software for protein analysis.
The global market is segmented into four major regions, namely, North America, Europe, the Asia Pacific, and the Rest of the World. In 2019, North America accounted for the largest share of the global market, closely followed by Europe.
Factors such as the presence of well-established CROs, rising R&D expenditure, and the availability of the latest techniques and instruments for drug discovery research are responsible for the large share of the North American market. However, the Asia Pacific market is estimated to grow at the highest CAGR during the forecast period.
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Monoclonal antibodies accounted for the largest share of the protein engineering market in 2019, majorly due to the high and growing demand for monoclonal antibodies for the treatment of cancer, neurological diseases, and infectious diseases.
The rational protein design segment accounted for the largest share of the market, majorly due to the increasing use and continuous upgrades of bioinformatics platforms and software for protein analysis.
The protein engineering market is segmented into biopharmaceutical companies, contract research organizations, and academic research institutes. Biopharmaceutical companies use protein engineering products extensively in their drug discovery and development activities as these products help in designing models to develop a broad range of protein-based drugs. As a result, biopharmaceutical companies were the largest end-users in this market in 2019.
Market Research Developments:
In 2019, Creative Biolabs (US) launched the cd25 monoclonal antibody.
In 2019, Waters Corporation (US) launched Vanguard FIT Cartridge Technology.
In 2019, Agilent Technologies (US) acquired BioTek Instruments (US), which helped the company to expand its expertise in cell analysis and establish its position in the immuno-oncology and immunotherapy markets.
In 2019, Merck KGaA signed a license agreement with Amunix Pharmaceuticals, Inc. (US). Under this agreement, Amunix will gain the rights to develop therapeutics using the protease-triggered immune activator (ProTIA) technology platform.