According to IMARC Group, the global protein therapeutics market size reached US$ 322.7 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 487.0 Billion by 2028, exhibiting a growth rate (CAGR) of 7% during 2023-2028. The report has segmented the market by product, therapy area function and region.
Factors Affecting the Growth of the Protein Therapeutics Industry:
- Advancements in Biotechnology:
The protein therapeutics market is experiencing substantial growth, driven by advancements in biotechnology. These innovations include the development of novel protein engineering techniques, improved understanding of protein structures, and the expansion of recombinant DNA technology. These breakthroughs enable the creation of highly targeted and efficacious protein-based drugs, with enhanced specificity and reduced side effects. As biotechnology continues to evolve, it not only facilitates the discovery of new therapeutic targets but also expedites the development and production of innovative protein therapies, thereby fueling the market expansion.
- Increasing Prevalence of Chronic Diseases:
The rising prevalence of chronic diseases is a significant factor influencing the growth of the protein therapeutics market. Chronic conditions such as cancer, diabetes, autoimmune disorders, and cardiovascular diseases require long-term management and treatment. Protein-based drugs offer a promising avenue for addressing these diseases due to their ability to modulate specific biological pathways. As the global burden of chronic illnesses continues to escalate, the demand for effective protein therapeutics is surging, resulting in sustained market growth as pharmaceutical companies focus on developing new treatments and expanding their product portfolios.
- Growing Aging Population:
The protein therapeutics market is benefiting from the trend of a growing aging population. With an increasing number of elderly individuals worldwide, there is a heightened demand for treatments that address age-related diseases and conditions. Protein-based therapies play a pivotal role in managing age-associated ailments such as osteoporosis, Alzheimer's disease, and age-related macular degeneration. This demographic shift, characterized by an expanding elderly population with diverse healthcare needs, is driving the development and adoption of protein therapeutics, ensuring their continued prominence in the global pharmaceutical landscape.
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Protein Therapeutics Market Report Segmentation:
By Product:
- Monoclonal Antibodies (mAbs)
- Human Insulin
- Erythropoietin
- Clotting Factors
- Fusion Protein
- Others
By product, monoclonal antibodies (mAbs) represented the largest segment due to their high specificity and efficacy in targeting diseases, particularly in oncology and autoimmune disorders.
By Therapy Area:
- Metabolic Disorders
- Immunological Disorders
- Hematological Disorders
- Cancer
- Hormonal Disorders
- Genetic Disorders
- Others
By therapy area, metabolic disorders represented the largest segment because of the rising prevalence of diseases like diabetes and obesity, for which protein therapeutics have shown significant treatment efficacy.
By Function:
- Enzymatic and Regulatory Activity
- Special Targeting Activity
- Vaccines
- Protein Diagnostics
By function, the market is segmented into enzymatic and regulatory activity, special targeting activity, vaccines, and protein diagnostics.
Regional Insights:
- North America (United States, Canada)
- Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
- Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa
Region wise, North America emerged as the largest market due to advanced healthcare infrastructure, significant investment in R&D, and a high prevalence of chronic diseases.
Competitive Landscape:
The competitive landscape of the protein therapeutics market has been studied in the report with the detailed profiles of the key players operating in the market.
Some of these key players include:
- Amgen Inc.
- Abbott Laboratories
- Abbvie Inc.
- Baxter International Inc.
- Biogen Inc.
- Csl Behring L.L.C. (CSL Limited)
- Eli Lilly and Company
- F. Hoffmann-La Roche AG (Roche Holding AG)
- Johnson & Johnson
- Merck & Co. Inc.
- Novo Nordisk A/S (Novo Holdings A/S)
- Pfizer Inc.
Global Protein Therapeutics Market Trends:
The market growth of protein therapeutics is primarily driven by the increasing prevalence of chronic diseases such as diabetes and cancer. This rise in disease incidence boosts the demand for effective and targeted treatment options, where protein therapeutics play a crucial role. Additionally, advancements in biotechnology have enabled the development of more efficient protein-based drugs with improved efficacy and reduced side effects. The growing investment in pharmaceutical R&D and a strong pipeline of protein therapeutics also significantly contribute to market expansion. Furthermore, the rise in healthcare expenditure and enhanced patient awareness about novel treatment options are key factors propelling the market growth.
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Key Highlights of the Report:
- Market Performance (2017-2022)
- Market Outlook (2023-2028)
- Market Trends
- Market Drivers and Success Factors
- Impact of COVID-19
- Value Chain Analysis
- Comprehensive mapping of the competitive landscape
If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
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