What are the key trends in the protein therapeutics market report?
Increase in prevalence of chronic diseases, rising patient pool and various technological advancements in protein therapeutics is anticipated to drive the market in the forecast period.
The term therapeutic protein was first used to describe medicines that are genetically engineered versions of naturally occurring human proteins. The complex structure of proteins can be represented in several different ways to help scientists study larger or smaller details of the molecule.
How big is the dialysis market?
The global protein therapeutics industry accounted for $283.64 billion in 2020, and is expected to reach $566.66 billion by 2030, growing at a CAGR of 7.1% from 2021 to 2030.
CAGR: 7.1%
Current Market Size: USD 283.64 Billion
Forecast Growing Region: APAC
Largest Market: North America
Projection Time: 2020 – 2030
Base Year: 2019
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Along with the strategy of collaboration, researchers from different universities worldwide developed novel drug delivery systems utilizing protein therapeutics. Researchers from Nanyang Technological University, Singapore (NTU Singapore) developed a method of drug delivery into human cells with the help of protein-based microdroplets. This discovery provides safer, faster, more effective, and better method than existing methods for cancer treatment, gene therapy, and vaccine delivery. These microdroplets are made up of peptides and have an ability to encase huge biomacromolecules. These molecules carry drugs inside them and delivery to the desired cells. This provides an advantage over the existing synthetic carriers.
Covid-19 scenario:
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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The metabolic issues section overwhelmed the market development
By application, the metabolic issues section held the biggest offer in 2020, representing around one-fifth of the market, because of flood in the quantity of metabolic problems, particularly diabetes. Nonetheless, the malignant growth fragment is supposed to enlist the most elevated CAGR of 9.1% during the conjecture time frame, attributable to flood in disease cases and expansion sought after for personalization of medicines.
The combination protein section to show the most elevated CAGR through 2030
Result, the combination protein section is supposed to enlist the most elevated CAGR of 9.5% during the conjecture time frame, inferable from benefits of the combination protein over other ordinary items and improved item homogeneity. Notwithstanding, the monoclonal antibodies section is supposed to hold the biggest offer in 2020, adding to almost 50% of the market, because of wide accessibility and application to treat different ongoing illnesses.
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Major market players
- Abbott Laboratories
- Baxter International Inc.
- Amgen Inc.
- Hoffmann-La Roche Ltd.
- Eli Lilly and Company
- Merck & Co., Inc.
- Johnson & Johnson (Janssen Pharmaceuticals)
- Pfizer Inc.
- Novo Nordisk A/S
- Sanofi
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