Growth of the protein therapeutics market is majorly driven by rise in prevalence of chronic diseases, increase in geriatric population, development of plasma derived therapies, increasing awareness for protein-based therapeutics, and surge in strategic developments among key players of the market.
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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Through the joint effort between two organizations, Proteovant’s man-made consciousness (artificial intelligence)- upgraded designated protein corruption (TPD) stage will be used alongside ability in accuracy medication of Plan. Novel TPD items will be created through broad innovative work exercises. Recently created items will be marketed by the two organizations. Ongoing headways in the field of TPD set out open doors for development of Diagram’s center kinase capacities and devise better approaches to treat different sicknesses. The coordinated effort will assist with blueprinting in extending its foundation more quickly than previously. Likewise, the two organizations will actually want to further develop results of patients with malignant growth and blood issues.
Impact of COVID-19 Pandemic on the Protein Therapeutics Market
The COVID-19 outbreak is anticipated to have a positive impact on the protein therapeutics market. A huge number of clinics and hospitals across the globe were restructured to increase the hospital capacity for patients diagnosed with COVID-19.
- 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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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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Top 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
Important Questions Being Answered by the Market Report
- What is the Protein Therapeutics Market size and growth?
- What are the prominent and latest trends impacting the market?
- Which regions will observe growth on new occasions?
- Which players are adopting a functioning and planned framework to obtain customer loyalty?
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