(MENAFN- IMARC Group)
According to IMARC Group, the global protein therapeutics market size reached US$ 345.6 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 603.5 Billion by 2032, exhibiting a growth rate (CAGR) of 6.2% during 2024-2032.
Protein therapeutics is a new class of drugs that are produced within living cells or organisms unlike small molecule drugs. They
are fast-acting and potent medicines as well as have proved very successful in the treatment of a broad range of indications. Therapeutic proteins
are widely utilized in the treatment of HIV, cancer, and other diseases. They can be employed to replace a protein that is abnormal or deficient in a particular disease. They include recombinant forms of naturally occurring proteins, like monoclonal antibodies, fusion proteins, insulin, interferon, erythropoietin, follicle-stimulating hormones, and human growth hormones (HGHs).
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Protein Therapeutics Market Trends:
The increasing prevalence of chronic and age-related diseases, such as cancer, autoimmune disorders, diabetes, and cardiovascular diseases, represents a key factor driving the global protein therapeutics market growth across the globe. The market is also driven by rapid advancements in the field of biotechnology, including recombinant DNA technology and protein engineering techniques, which have facilitated the development of more sophisticated and effective protein therapeutics.
The rising shift toward personalized medicine, driven by advances in genomic research and precision medicine approaches is contributing to the growth of the market. In addition to this, the widespread adoption of biologics as a preferred treatment option, particularly for complex diseases, is further facilitating the growth of the market. Other factors, including the rising investment in research and development (R&D) activities related to protein therapeutics, favorable regulatory environment providing clear guidelines and efficient approval processes, rapid development and commercialization of protein-based drugs, and the increasing healthcare expenditure, are creating a positive outlook for the market across the globe.
Competitive Landscape With Key Players:
The competitive landscape of the protein therapeutics market has been studied in the report with the detailed profiles of the key players operating in the market.
Some of these key players include:
Amgen Inc. Abbott Laboratories Abbvie Inc. Baxter International Inc. Biogen Inc. Csl Behring L.L.C. (CSL Limited) Eli Lilly and Company F. Hoffmann-La Roche AG (Roche Holding AG) Johnson & Johnson Merck & Co. Inc. Novo Nordisk A/S (Novo Holdings A/S) Pfizer Inc.
Key Market Segmentation:
The report has segmented the global protein therapeutics market based on product, therapy area, function and region.
Breakup by Product:
Monoclonal Antibodies (mAbs) Human Insulin Erythropoietin Clotting Factors Fusion Protein Others
Breakup by Therapy Area:
Metabolic Disorders Immunological Disorders Hematological Disorders Cancer Hormonal Disorders Genetic Disorders Others
Breakup by Function:
Enzymatic and Regulatory Activity Special Targeting Activity Vaccines Protein Diagnostics
Breakup by Region:
North America Asia Pacific Europe Latin America Middle East and Africa
Key Highlights of the Report:
Market Performance (2018-2023) Market Outlook (2024-2032) Market Trends Market Drivers and Success Factors Impact of COVID-19 Value Chain Analysis Comprehensive mapping of the competitive landscape
If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
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