The growth of protein antibody engineering 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.
[146 Pages Report] The global protein engineering market is projected to reach USD 3.9 billion by 2024 from USD 2.2 billion in 2019, at a CAGR of 12.4% during the forecast period.Protein Engineering Market by Technology (Rational Design, Irrational Design), Product & Service (Instrument, Consumables), Protein Type (Monoclonal Antibodies, Insulin), End User (Academics Institutes, Biopharmaceuticals, CROs) - Global Forecast to 2024What drives the market?Increasing Investments in Synthetic BiologyGrowing Focus on Protein-Based Drug Development By Pharmaceutical & Biotechnology FirmsHowever, factors such as the high cost of instruments and laboratory documentation systems are expected to restrain the growth of protein antibody engineering market during the forecast period.Download a PDF Brochure @ https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=898North America accounted for the largest share of the global protein engineering market in 2019 The global protein antibody engineering 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 protein antibody engineering market, closely followed by Europe.
Factors such as the presence of well-established CROs, rising R 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.
This can majorly be attributed to the advancements in genomics and proteomics research and government initiatives and funding for protein-based drug research in several Asia Pacific countries.Request a Sample Pages @ https://www.marketsandmarkets.com/requestsampleNew.asp?id=898Key Market Players The major companies operating in the protein antibody engineering market include Thermo Fisher Scientific (US), Danaher Corporation (US), Agilent Technologies (US), and Bio-Rad Laboratories (US).Thermo Fisher Scientific (US) held the leading position in this market primarily due to its strong portfolio of protein engineering consumables, instruments, and services.