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 estimated to reach $566.66 Billion by 2030, growing at a CAGR of 7.1% from 2021 to 2030.
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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”.
Collaboration is one of the major strategies adopted by market players to combine capabilities and develop advanced products by addressing the areas in need. Blueprint Medicines Corporation joined hands with Proteovant Therapeutics for development of advanced targeted protein degrader therapies. The targeted protein degrader utilizes the natural protein system of the body and offers a potential to develop new medicine for various diseases.
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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Along with the strategy of collaboration, researchers from different universities worldwide developed novel drug delivery systems utilizing protein therapeutics. Researchers from Nanyang Technological University, Singapore (NTU Singapore) developed a method of drug delivery into human cells with the help of protein-based microdroplets. This discovery provides safer, faster, more effective, and better method than existing methods for cancer treatment, gene therapy, and vaccine delivery. These microdroplets are made up of peptides and have an ability to encase huge biomacromolecules. These molecules carry drugs inside them and delivery to the desired cells. This provides an advantage over the existing synthetic carriers.
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
We also Offers Regional and Country Reports-
- Japan Protein Therapeutics Market
- South Korea Protein Therapeutics Market
- Singapore Protein Therapeutics Market
- China Protein Therapeutics Market
- Indonesia Protein Therapeutics Market
- Australia Protein Therapeutics Market
- Taiwan Protein Therapeutics Market
“We have also published few syndicated market studies in the similar area that might be of your interest. Below are the report title for your reference, considering Impact of Covid-19 Over This Market which will help you to assess aftereffects of pandemic on short-term and long-term growth trends of this market.”
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