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- Global Protein Therapeutics Market
Global Protein Therapeutics Market to Grow at 7.26% During 2022-2027, Impelled by Increasing Prevalence of Chronic Diseases
May 18, 2021
According to the latest report by IMARC Group, titled "Protein Therapeutics Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027," the global protein therapeutics market reached a value of US$ 298.0 Billion in 2021. 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 7.26% during 2022-2027.
Market Summary:
- Based on the product, the market has been divided into monoclonal antibodies (mAbs), human insulin, erythropoietin, clotting factors, fusion protein, and others.
- On the basis of the therapy area, the market has been segmented into metabolic, immunological, hematological, hormonal, genetic disorders, cancer, and others.
- Based on the function, the market has been classified into enzymatic and regulatory activity, special targeting activity, vaccines, and protein diagnostics.
- On the geographical front, the market has been segregated into North America (the United States and Canada), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia and others), Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia and others), Latin America (Brazil, Mexico and others), and Middle East and Africa.
- 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.
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IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
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