New York, United States, March 05, 2024 (GLOBE NEWSWIRE) -- The Global Protein Therapeutics Market Size is Expected to Grow from USD 341.4 Billion in 2023 to USD 605.38 Billion by 2033, at a Compound Annual Growth Rate (CAGR) of 5.9% during the projected period.
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Therapeutic protein medicines are a form of therapy used to treat a number of disorders such as cancer, metabolic, immunological, hematological, hormonal, genetic, and infectious diseases, among others. Protein therapy, a type of drug derived from artificially synthesized proteins, has the potential to significantly enhance human health by giving small amounts of protein molecules to the body. Drugs that are genetically engineered forms of naturally occurring human proteins such as human growth hormones (HGH), follicle-stimulating hormones, insulin, fusion proteins, erythropoietin, monoclonal antibodies, and insulin. Furthermore, growth of biosimilars market driving demand for global protein therapeutics market. The increasing demand for personalized medicine treatment is based on the individual's genetic profile, disease characteristics, and response to treatment. As a result, these factors are expected to considerably drive the growth of the global protein therapeutics market throughout the forecast period. However, the global protein therapeutics market is expected to be restrained by high production costs, limited availability and affordability due to the growing elderly population, chronic diseases, and protein physiochemical instability and immunogenicity.
Browse key industry insights spread across 200 pages with 110 Market data tables and figures & charts from the report on the "Global Protein Therapeutics Market Size, Share, and COVID-19 Impact Analysis, By Product (Monoclonal Antibodies, Insulin, Fusion Protein, Erythropoietin, Interferon, Human Growth Hormone, and Follicle Stimulating Hormone), By Application (Metabolic Disorders, Immunologic Disorders, Hematological Disorders, Cancer, Hormonal Disorders, Genetic Disorders, and Others), By Function (Enzymatic and Regulatory Activity, Special Targeting Activity, Vaccines, Protein Diagnostics), By End User (Pharmaceutical companies, Healthcare Service Providers, Research Organizations and Academic Research Institutes), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2023 – 2033."
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The monoclonal antibodies segment is anticipated to hold the greatest share of the global protein therapeutics market during the projected timeframe.
Based on the product, the global protein therapeutics market is divided into monoclonal antibodies, insulin, fusion protein, erythropoietin, interferon, human growth hormone, and follicle stimulating hormone. Among these, the monoclonal antibodies segment is anticipated to hold the greatest share of the global protein therapeutics market during the projected timeframe. The segmental growth can be attributed by the products that are widely available, important, and useful in the treatment of a variety of chronic conditions. Monoclonal antibodies are commonly utilized in the treatment of cancer and autoimmune diseases.
The metabolic disorders segment is anticipated to grow at the fastest pace in the global protein therapeutics market during the projected timeframe.
Based on the application, the global protein therapeutics market is divided into metabolic disorders, immunologic disorders, hematological disorders, cancer, hormonal disorders, genetic disorders, and others. Among these, the metabolic disorders segment is anticipated to grow at the fastest pace in the global protein therapeutics market during the projected timeframe. The crucial role in the management of diabetes disorder by the use of protein therapeutics, metabolic disorder, insulin, and other related products.
The enzymatic and regulatory activity segment is predicted to grow at the highest pace in the global protein therapeutics market during the estimated period.
Based on the function, the global protein therapeutics market is divided into enzymatic and regulatory activity, special targeting activity, vaccines, and protein diagnostics. Among these, the enzymatic and regulatory activity segment is predicted to grow at the highest pace in the global protein therapeutics market during the estimated period. Enzymatic and regulatory activities play a crucial role in regulating biological processes, metabolic pathways, cellular activities, signalling pathways, and enzymatic reactions, making them beneficial for various therapeutic purposes.
The healthcare service providers segment is predicted to grow at the highest pace in the global protein therapeutics market during the estimated period.
Based on the end user, the global protein therapeutics market is divided into pharmaceutical companies, healthcare service providers, research organizations, and academic research institutes. Among these, the healthcare service providers segment is predicted to grow at the highest pace in the global protein therapeutics market during the estimated period. Growth can be attributed with a rising emphasis on personalized medicine and patient-centred care, healthcare practitioners are incorporating protein treatments into their treatment protocols for a wide range of illnesses. Healthcare providers have direct touch with a vast number of patients.
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North America is expected to hold the largest share of the global protein therapeutics market over the forecast period.
North America is expected to hold the largest share of the global protein therapeutics market over the forecast period. Rising prevalence of chronic diseases, acceptance of technologically advanced therapies, a strong presence of biopharmaceutical companies, and an increase in healthcare expenditure are all associated with the region's advanced healthcare infrastructure. Increased investment in protein therapy research, a high aging population, and advantageous reimbursement policies are all helping to drive regional market growth. The prevalence of good reimbursement medical facilities and a higher level of living for the people.
Asia Pacific is predicted to grow at the fastest pace in the global protein therapeutics market during the projected timeframe. The growth can be attributed to the increasing prevalence of chronic diseases, huge population base, and growing healthcare expenditure. In the Asia Pacific region, the large number of biopharmaceutical companies as well as investment in research and development.
Competitive Analysis:
The report offers the appropriate analysis of the key organizations/companies involved within the global market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market. Major vendors in the global protein therapeutics market include Sanofi, Baxter International Inc., Johnson and Johnson, Abbott Laboratories, Amgen Inc., Eli Lilly and Company, Biogen Inc., Thermo Fisher Scientific, Inc., Teva Pharmaceutical Industries Ltd, Abbvie Inc., Merck and Co., Inc., Csl Behring L.L.C., Novo Nordisk AS, F. Hoffmann La Roche Ltd, Pfizer Inc., Others
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Recent Developments
- In April 2022, Plexium and AbbVie partnered to develop targeted protein degradation therapies for neurological disorders, leveraging AbbVie's neurology expertise and Plexium's complete TPD platform. The agreement includes preclinical research for collaboration targets.
Market Segment
This study forecasts revenue at global, regional, and country levels from 2020 to 2033. Spherical Insights has segmented the global protein therapeutics market based on the below-mentioned segments:
Global Protein Therapeutics Market, By Product
- Monoclonal Antibodies
- Insulin
- Fusion Protein
- Erythropoietin, Interferon
- Human Growth Hormone
- Follicle Stimulating Hormone
Global Protein Therapeutics Market, By Application
- Metabolic Disorders
- Immunologic Disorders
- Hematological Disorders
- Cancer
- Hormonal Disorders
- Genetic Disorders
- Others
Global Protein Therapeutics Market, By Function
- Enzymatic
- Regulatory Activity
- Special Targeting Activity
- Vaccines
- Protein Diagnostics
Global Protein Therapeutics Market, By End User
- Pharmaceutical companies
- Healthcare Service Providers
- Research Organizations
- Academic Research Institutes
Global Protein Therapeutics Market, Regional Analysis
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- Uk
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia Pacific
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East & Africa
- UAE
- Saudi Arabia
- Qatar
- South Africa
- Rest of the Middle East & Africa
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