According to a recent research study, 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.
Rise in proteomics research and development of novel methods opened up new avenues for protein therapeutics. Market players have adopted different strategies to advance the research activities about protein therapeutics by determining the existing issues. Collaboration is one of the vital strategies adopted by them to combine expertise of both companies and finding ways to improve outcomes for patients. In addition, researchers across different universities are coming up with novel methods to develop protein-based therapeutics and drug delivery systems. The discovery of novel methods and the demand for advanced development techniques will increase in the coming years.
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Joint effort is one of the significant procedures embraced by market players to consolidate abilities and foster high level items by tending to the areas out of luck. Outline Meds Company held hands with Proteovant Therapeutics for improvement of cutting edge designated protein degrader treatments. The designated protein degrader uses the regular protein arrangement of the body and offers a possibility to foster new medication for different infections.
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.
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.
Surge in the prevalence of chronic diseases and increase in proteomics research have boosted the growth of the global protein therapeutics market. However, high production costs required for developing and manufacturing protein-based therapeutics hinder the market growth. On the contrary, surge in healthcare expenditure and increase in geriatric populations would open new opportunities for the market players in the future.
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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Key Findings of the Study
- By product, the monoclonal antibodies segment was the highest contributor to the protein therapeutics market in 2020.
- On the basis of application, the metabolic disorders segment was the highest contributor to the protein therapeutics market in 2020.
- Region wise, North America garnered the largest revenue share in 2020, whereas Asia-Pacific is anticipated to grow at the highest CAGR during the forecast period.
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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|Market Outlook for 2030||USD $566.66 billion|
|Market Size 2020 Value||USD $283.64 billion|
|Expected CAGR Growth||7.1% from 2021 – 2030|
|Forecast Year||2021 – 2030|
|Top Market Players||
|Segments Covered||By Product, By Procedure, By Application, By End-Use, By Region|
|Regional scope||North America, Europe, Asia Pacific, Latin America; Middle East & Africa|
|Customization Options||Customized purchase options are available to meet your research needs. Explore customized purchase options|
Also Read Press Release: Protein Therapeutics Market Expected to Reach $566.66 Billion by 2030 | CAGR of 7.1%
Allied Market Research has segmented the Protein Therapeutics Market report on the basis of procedure, application, end-user, and region:
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By Region Outlook
- North America (U.S., Canada)
- Europe (France, Germany, UK, Italy, Spain, Netherlands, Russia)
- Asia Pacific (Japan, China, India, Malaysia, Indonesia. South Korea)
- Latin America (Brazil, Mexico, Argentina)
- Middle East & Africa (Saudi Arabia, UAE, Israel, South Africa)
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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