Allied Market Research 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 provides a detailed analysis of changing market dynamics, competitive landscape, key winning strategies, top investment pockets, and key segments. The report states that the global protein therapeutics market is expected to reach $217.59 billion by 2023, registering a CAGR of 6.5% from 2017 to 2023. Based on product, the monoclonal antibodies product segment contributed the highest market share in 2016.
Increase in prevalence of chronic diseases, advent of new plasma-derived therapies, and surge in awareness regarding the high efficiency of protein therapeutics drive the growth in the market. However, expensive protein therapies and complex reimbursement scenario restrain the market growth. On the other hand, surge in novel indications for existing protein therapeutics and untapped potential in emerging markets would provide opportunities in this industry.
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The metabolic disorders application garnered the highest revenue share in 2016, and is expected to maintain its lead throughout the forecast period. This is due to the demand for quality drugs and versatile therapies for treatment of various disease, especially diabetes. However, the cancer application is estimated to register the highest growth rate, with a CAGR of 8.2% from 2017 to 2023.
North America contributed the largest market share in 2016 and will maintain its lead position throughout the forecast period, owing to increase in prevalence of chronic diseases and rise in awareness about protein therapeutics. However, Asia-Pacific is estimated to register the highest CAGR of 7.6% throughout the forecast period, owing to rapid pace of industrialization, rise in disposable income, and increase in government initiatives for modernizing healthcare infrastructure.
Key Findings of the Report:
- The monoclonal antibody segment would register the highest CAGR from 2017 to 2023.
- The cancer application segment is estimated to grow at the highest rate during the forecast period.
- The metabolic disease application segment is expected to occupy the highest market share in the protein therapeutics market.
- North America region generated the highest revenue the global protein therapeutics market in 2016, and is expected to grow at a CAGR of 6.1% through 2023.
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The report offers a detailed competitive analysis of key market players such as Abbott Laboratories, Baxter International Inc., Amgen Inc., F. Hoffmann-La Roche Ltd., Eli Lilly and Company, Merck & Co., Inc., Johnson & Johnson, Pfizer Inc., Novo Nordisk A/S, and Sanofi. These market players have adopted various strategies including expansion, mergers & acquisitions, partnerships, collaborations, and others to gain a strong position in the market.
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