Protein Therapeutics Market To Grow 566.66 Billion By 2030, At 7.1% CAGR

(MENAFN- EIN Presswire) PORTLAND, HI, UNITED STATES, September 17, 2024 /EINPresswire / -- The global protein therapeutics market size was valued at $283.64 Billion in 2020, and is estimated to reach $566.66 Billion by 2030, growing at a CAGR of 7.1% from 2021 to 2030. 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.

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The metabolic disorders segment dominated the market growth

By application, the metabolic disorders segment held the largest share in 2020, accounting for around one-fifth of the market, due to surge in the number of metabolic disorders, especially diabetes. However, the cancer segment is expected to register the highest CAGR of 9.1% during the forecast period, owing to surge in cancer cases and increase in demand for personalization of treatments.

The fusion protein segment to manifest the highest CAGR through 2030

By product, the fusion protein segment is expected to register the highest CAGR of 9.5% during the forecast period, owing to advantages of the fusion protein over other conventional products and enhanced product homogeneity. However, the monoclonal antibodies segment is expected to hold the largest share in 2020, contributing to nearly half of the market, due to wide availability and application to treat various chronic diseases.

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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Major market players

Abbott Laboratories
Baxter International Inc.
Amgen Inc.
F. 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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