Global Protein Therapeutics Market to Reach US$ 603.5 Billion by 2032, Fostered by Growing Focus on Personalized Medicine

August 23, 2023 | Healthcare

According to the latest report by IMARC Group, titled “Protein Therapeutics Market Report by Product (Monoclonal Antibodies (mAbs), Human Insulin, Erythropoietin, Clotting Factors, Fusion Protein, and Others), Therapy Area (Metabolic Disorders, Immunological Disorders, Hematological Disorders, Cancer, Hormonal Disorders, Genetic Disorders, and Others), Function (Enzymatic and Regulatory Activity, Special Targeting Activity, Vaccines, Protein Diagnostics), and Region 2024-2032,” the global protein therapeutics market size reached US$ 345.6 Billion in 2023. Protein therapeutics refers to medicinal interventions based on proteins, polypeptides, and peptides. They are engineered and designed to interact with biological processes to prevent, treat, and cure acute and chronic illnesses. They are derived from various sources, including human, animal, and microorganism cells, and can also be produced using recombinant deoxyribonucleic acid (DNA) technology. They help minimize off-target effects and reduce the likelihood of adverse reactions, which leads to safer and more effective treatments. They are extensively used in the treatment of numerous diseases, including chronic conditions like cancer, diabetes, autoimmune disorders, and infectious diseases. Besides this, their potential for customization allows the development of personalized treatments and enhances treatment outcomes.

Global Protein Therapeutics Market Trends:

The rising prevalence of chronic diseases, such as cancer, cardiovascular and musculoskeletal disorders, and diabetes, represents one of the key factors catalyzing the demand for advanced therapeutic interventions. Additionally, the rising healthcare expenditure and the growing focus on personalized medicine are other notable factors contributing to the market growth. Apart from this, various advancements in bioengineering and biotechnology are resulting in the development of novel protein therapies, consequently expanding the potential therapeutic applications of these products. For instance, the advent of monoclonal antibodies and fusion proteins revolutionized treatment strategies for several diseases. Additionally, the widespread applications of protein therapeutics in oncology are favoring the market growth. Besides this, rapid innovations in drug delivery systems are improving the delivery of protein therapeutics and enhancing their efficacy and patient compliance. Looking forward, the market value is projected to reach US$ 603.5 Billion by 2032, expanding at a CAGR of 6.2% during 2024-2032.

Market Summary:

Based on the product, the market has been segmented into monoclonal antibodies (mAbs), human insulin, erythropoietin, clotting factors, fusion protein, and others. Monoclonal antibodies (mAbs) currently hold the largest market share.
On the basis of the therapy area, the market has been classified into metabolic disorders, immunological disorders, hematological disorders, cancer, hormonal disorders, genetic disorders, and others. At present, metabolic disorders account for the majority of the market share.
Based on the function, the market has been divided into enzymatic and regulatory activity, special targeting activity, vaccines, and protein diagnostics.
Region-wise, the market has been categorized into North America (the United States and Canada); Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others); Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others); Latin America (Brazil, Mexico, and others); and the Middle East and Africa. Amongst these, North America enjoys the leading position in the market.
The competitive landscape of the market has also been examined, with some of the key players being 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) and Pfizer Inc.

Report Coverage:

Report Features	Details
Base Year of the Analysis	2023
Historical Period	2018-2023
Forecast Period	2024-2032
Units	US$ Billion
Segment Coverage	Product, Therapy Area, Function, Region
Region Covered	Asia Pacific, Europe, North America, Latin America, Middle East and Africa
Countries Covered	United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
Companies Covered	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) and Pfizer Inc.
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Global Protein Therapeutics Market to Reach US$ 603.5 Billion by 2032, Fostered by Growing Focus on Personalized Medicine

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