Market Overview
The global PEGylated proteins market size was growing at a CAGR of 6.8 % during the forecast period (2022-2029).
PEGylation is the process of binding or alteration of biological molecules by conjugation with polyethylene glycol known as PEGylation. PEGylation enhances the stability and solubility of the drug and declines immunogenicity by changing the molecule’s electrostatic binding, confirmation, and hydrophobicity.
Market Dynamics
The global PEGylated proteins market growth is driven by the increase in R&D spending of pharmaceutical & biotechnology companies, growth in biologics sector, high prevalence of lifestyle disease, increasing in adoption of protein-based drugs over non-protein-based drugs and increase of protein stability and circulating half-life with the help of PEGylation are the major drivers of market.
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Increasing adoption of PEGylated protein-based drugs is expected to hold the largest share in this market segment
Increasing adoption of PEGylated protein-based drugs due to increased stability and circulating half-life, and awareness on strategies to improve protein stability and circulating half-life, are expected to boost the market growth during the forecast period. For instance, Mabwell Bioscience Co., Ltd., in September 2020, began the phase III clinical study to investigate the immunogenicity, safety, and hemostatic efficacy of PEGylated recombinant FVIII (BAX 855) in the patients who were previously left untreated and meet the requirements of being less than 6 years old and have severe hemophilia A. In addition, the increasing adoption of PEGylated protein to treat various chronic diseases will further fuel the market, as the number of people infected with chronic disease is on a rise. According to the World Health Organization, chronic disease prevalence is expected to rise by 57% by the year 2020.
Market Segmentation
By Product Type
- Consumables
- PEGylation Reagents
- PEGylation Kits
- Services
By Protein Type
- Colony Stimulating Factor
- Interferons
- Erythropoietin
- mAbs
- Recombinant Factor VIII
- Other Protein Type
Competitive Landscape
The global PEGylated proteins market is moderately competitive with the presence of local as well as global companies. Some of the key players which are contributing to the growth of the market include Merck KGaA, Thermo Fisher Scientific Inc., NOF America Corporation, JenKem Technology USA Inc., Creative PEGworks, Celares GmbH, Quanta BioDesign, Ltd.
The major players are adopting several growth strategies such as product launches, acquisitions, and collaborations, which are contributing to the growth of the market. For instance, In August 2021, JenKem Technology provides large scale GMP manufacture of PEG derivatives for Lipid Nanoparticles (LNPs), and related PEG intermediates.
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