Allied Market Research recently published a report, titled, “Protein Therapeutics Market by Product (Monoclonal Antibodies, Insulin, Fusion Protein, Erythropoietin, Interferon, Human Growth Hormone, and Follicle Stimulating Hormone) and Application (Metabolic Disorders, Immunologic Disorders, Hematological Disorders, Cancer, Hormonal Disorders, Genetic Disorders, and Others) – Global Opportunity Analysis and Industry Forecast, 2017-2023”. The report valued the global protein therapeutics market at $140,109 million in 2016 and expected it to reach $217,591 million by 2023, growing at a CAGR of 6.5% during the forecast period, 2017-2023.
The rise in the occurrence of chronic diseases worldwide and a significant improvement of plasma-derived therapies have resulted in an increased demand for protein therapeutics. Along with the upsurge in demand, the global market is also driven by a torrent of awareness among the populace concerning the benefits of protein therapeutics. Key market players are anticipated to receive lucrative opportunities owing to the adoption of protein therapeutics for novel indications along with the untapped potential in developing countries. However, high expenses associated with therapeutic proteins and harsh government regulations towards these class of medicines hinder market growth.
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The report identifies key companies involved in the protein therapeutics market, such as
- Abbott Laboratories
- Amgen Inc.
- Baxter International Inc.
- Eli Lilly and Company
- Hoffmann-La Roche Ltd.
- Johnson & Johnson
- Merck & Co. Inc.
- Novo Nordisk A/S
- Pfizer Inc.
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The report segments the global protein therapeutics market based on product, application, and geography. By product, the market is demarcated into monoclonal antibodies, insulin, fusion protein, erythropoietin, interferon, human growth hormone, and follicle stimulating hormone. In 2016, monoclonal antibodies registered the largest share in the global market in terms of generated revenue. The sub-segment is expected to continue its dominance during the forecast period, owing to their necessity and applicability in treating myriad chronic disorders.
The report also divides the market based on application. The sub-segments comprise metabolic disorders, immunologic disorders, hematological disorders, cancer, hormonal disorders, genetic disorders, and others. Metabolic disorders hold a dominant position over the market in 2016 and are expected to continue to maintain the lead during the forecast period as well. In 2016, North America generated the highest revenue in the global therapeutics market. However, with a CAGR of 7.6%, Asia-Pacific is expected to grow at the fastest rate due to an increase in awareness about protein therapeutics-based treatments and a considerable rise in subsequent applications.
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