LONDON--(BUSINESS WIRE)--Technavio market research analysts forecast the global protein engineering market to grow at a CAGR of close to 16% during the period 2018-2022, according to their latest report.
This market research report segments the global protein engineering market into the following end-users, including pharmaceutical and biotechnology companies, academic institutes and research laboratories, and contract research organizations and key regions, including the Americas, APAC, and EMEA.
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In this report, Technavio analysts highlight the increasing incidences of diseases to rise demand for novel protein therapeutics as a key factor contributing to the growth of the global protein engineering market:
Increasing incidences of diseases to rise demand for novel protein therapeutics
Factors such as an increase in pollution and adoption of a sedentary lifestyle are leading to a rise in chronic diseases such as cancer, CVDs, diabetes, and autoimmune diseases. Cancer leads to a high annual rate of mortality, globally. Nearly 45 million people die of NCDs every year globally, and almost 10 million of them die of cancer.
The need for novel therapeutics has increased due to the growing incidences of chronic diseases. Protein engineering is increasingly used to generate recombinant protein therapeutics, which can treat a variety of diseases including cancers, autoimmune diseases, and genetic disorders. Monoclonal antibodies are designed to target antigens found in cancer cells, in cancer therapeutics. Many copies of that antibody are made in the laboratory. These antibodies get attached to the cancer cells and act as a marker for the immune system to destroy them. For example, alemtuzumab is a monoclonal antibody against chronic lymphocytic leukemia. Alemtuzumab binds to the CD52 antigen, which is found in cancer cells. The antibody destroys cancer cells with the help of immune cells. Thus, recombinant protein therapeutics boost the immunity and help to destroy cancer cells.
According to a senior analyst at Technavio for lab equipment, “Protein engineering products such as monoclonal antibodies can provide therapeutic remedies for several ailments. Hence, the demand for monoclonal antibodies is expected to increase with the rise of chronic and infectious diseases, thus benefiting the protein engineering market.”
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Global protein engineering market segmentation
Of the three major end-users, the pharmaceutical and biotechnology companies segment held the largest market share in 2017, accounting for nearly 43% of the market. The market share for this end-user is expected to increase by 2022. The fastest growing end-user is contract research organizations, which will account for nearly 27% of the total market share by 2022.
The Americas was the leading region for the global protein engineering market in 2017, accounting for a market share of nearly 39%. By 2022, APAC is expected to witness the highest growth rate of nearly 2%.
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