Surge in the prevalence of chronic diseases and increase in proteomics research have boosted the growth of the global protein therapeutics market. However, high production costs required for developing and manufacturing protein-based therapeutics hinder the market growth. On the contrary, surge in healthcare expenditure and increase in geriatric populations would open new opportunities for the market players in the future.
The global protein therapeutics market size was valued at $283.64 Billion in 2020, and is projected to reach $566.66 Billion by 2030, registering a CAGR of 7.1% during the forecast period.
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Rise in proteomics research and development of novel methods opened up new avenues for protein therapeutics. Market players have adopted different strategies to advance the research activities about protein therapeutics by determining the existing issues. Collaboration is one of the vital strategies adopted by them to combine expertise of both companies and finding ways to improve outcomes for patients. In addition, researchers across different universities are coming up with novel methods to develop protein-based therapeutics and drug delivery systems. The discovery of novel methods and the demand for advanced development techniques will increase in the coming years.
Covid-19 scenario:
- The Covid-19 pandemic had a positive impact on the growth of protein therapeutics due to surge in chronic diseases and increase in demand for therapeutic drugs.
- The number of clinics and hospitals across the globe increased during the pandemic, which supplemented the demand for protein therapeutics.
- However, the prolonged lockdown and disruptions of manufacturing and transportation of healthcare essentials hinder the market.
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growth of the global protein therapeutics market is attributed to increase in prevalence of chronic diseases, surge in development of protein-based therapies, and various strategies adopted by key players of the market. Moreover, increase in healthcare expenditure and approval of new products are expected to further drive the market growth during the forecast period.
Onkar Sumant
Therapeutic proteins are an important class of drugs that serve patients in need of novel therapies. They are engineered in laboratories for pharmaceutical use, such as noncovalent binders, proteins that affect covalent bonds (almost all enzymes), and albumin. Therapeutic proteins are extremely effective in vivo and have revolutionized disease treatment. Therapeutic protein products are useful in treatment of a wide range of indications, including cancer, genetic disorders, infectious diseases, and metabolic disorders. These proteins have the potential to reduce morbidity, slow disease progression, and/or replace essential proteins that a patient does not produce endogenously.
North America held the largest share
By region, the market across North America dominated the market in 2020, holding nearly half of the market, due to increase in chronic diseases, rapid adoption of advanced technologies, and presence of key players in the region. However, the market across Asia-Pacific is expected to register the highest CAGR of 8.7% during the forecast period, owing to rapidly growing geriatric population, surge in public-private investment, and increase in number of initiatives for healthcare awareness.
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Major market players
- Abbott Laboratories
- Baxter International Inc.
- Amgen Inc.
- F. Hoffmann-La Roche Ltd.
- Eli Lilly and Company
- Merck & Co., Inc.
- Johnson & Johnson (Janssen Pharmaceuticals)
- Pfizer Inc.
- Novo Nordisk A/S
- Sanofi
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