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According to the latest report by IMARC Group, titled "Protein Therapeutics Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026," the global protein therapeutics market experienced moderate growth during 2015-2020. Protein therapeutics refers to a class of medicines that are genetically engineered for pharmaceutical use. These potent medicines resemble the natural protein found in the body and are responsible for facilitating the supply of beneficial protein to help minimize the impact of diseases. Protein therapeutics can be utilized to replace a protein that is deficient or abnormal in a particular disorder. They usually consist of natural recombinant proteins, such as insulin, monoclonal antibodies, erythropoietin, human growth hormones (HGH), and interferon. Due to their low immunogenicity and high specificity, protein therapeutics aid in treating various diseases, including neurodegenerative disorders, cancer, diabetes, and hematological, immunological, genetic and hormonal disorders.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Global Protein Therapeutics Market Trends:
The demand for protein therapeutics is driven by the increasing prevalence of chronic diseases and the development of plasma-based therapies. Additionally, pharmaceutical companies are undertaking significant research and development (R&D) activities and using naturally occurring proteins, such as monoclonal antibodies, to treat various viral and bacterial diseases, which is supporting the market growth. In line with this, the mass outbreak of the coronavirus disease (COVID-19) has led to continuous transformations in plasma and novel recombinant proteins, antibody-based drugs, and peptides, which, in turn, is creating a positive outlook for the market. Other factors, such as rising investments in improving the healthcare infrastructure and innovations in the field of protein engineering, are creating a positive outlook for the market further. Looking forward, the market is expected to grow at a CAGR of around 6% during 2021-2026.
Market Summary:
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