As per the report, the global protein therapeutics industry accounted for $283.64 billion in 2020, and is expected 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.
Therapeutic proteins are an important class of drugs, which serve patients in need of novel therapies. Approved recombinant protein therapeutics are developed to treat a wide array of clinical indications, including cancers, genetic disorders, infectious diseases, and metabolic disorders.
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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High development & manufacturing cost, high treatment costs per patient, stringent government regulations, and complex reimbursement scenario are expected to impede the protein therapeutics market growth. Conversely, high market potential in the untapped emerging economies, rise in various product launches, partnerships, and collaborations among governments & key players, and development of pipeline products are expected to provide many opportunities for the market growth during the forecast period.
Key Findings of the Study
- By product, the monoclonal antibodies segment was the highest contributor to the protein therapeutics market in 2020.
- On the basis of application, the metabolic disorders segment was the highest contributor to the protein therapeutics market in 2020.
- Region wise, North America garnered the largest revenue share in 2020, whereas Asia-Pacific is anticipated to grow at the highest CAGR during the forecast period.
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
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