Protein Therapeutics Market Size Worth USD 315.25 Billion in 2032 | Emergen Research

Vancouver, Jan. 31, 2024 (GLOBE NEWSWIRE) -- The global protein therapeutics market size was USD 152.28 Billion in 2022 and is expected to register a rapid revenue CAGR of 7.6% during the forecast period. Rising demand for targeted treatments, rapid advancements in biotechnology and genetic engineering, and increasing Research & Development (R&D) initiatives are key factors driving market revenue growth.

Protein therapies are increasingly utilized to address a spectrum of illnesses and conditions, including cancer, autoimmune diseases, infectious infections, and genetic abnormalities. For example, on 7 September, 2023, Nurix Therapeutics, a biopharmaceutical company, partnered with Seagen Inc. to develop Degrader-Antibody Conjugates (DACs) for treating cancer. This collaboration combines antibody-drug conjugation and targeted protein degradation technologies to create more effective and specific cancer treatments. Ongoing advancements in genetic engineering and biotechnology have facilitated the development of novel and enhanced protein-based treatments.

These proteins are fast-acting and potent drugs, which have proven to be very effective in treating a wide range of diseases. For instance, according to statistics from the Centers for Disease Control and Prevention (CDC), 17.0% of adults aged 65 and over suffer from Coronary Heart Disease (CHD).

However, stringent regulatory requirements and high development and manufacturing costs   are key factors, which could restrain market revenue growth. Standards of regulations and possibility of newer rules being implemented have posed a challenge for protein therapeutics across the world. In addition, lack of skilled professionals who could understand these therapeutic standards and procedures is also lacking making it more difficult to use these protein therapeutics. Moreover, high amount of cost involved in manufacturing and development of these protein therapeutics is another factor, which could also restrain market revenue growth.

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Segment Insights

Product Insights:

On the basis of product, the global protein therapeutics market is segmented into monoclonal antibodies, insulin, fusion protein, erythropoietin, interferon, human growth hormone and others. The monoclonal antibodies segment accounted for largest revenue share in the global protein therapeutics market in 2022 owing to availability, importance and applicability of monoclonal antibodies in the treatment of different chronic disorders. Monoclonal antibodies are immune system proteins that are created in the lab and used to treat cancer. The insulin segment is expected to register moderately fast revenue growth rate in the global protein therapeutics market during the forecast period.

Application Type Insights:

On the basis of deployment type, the global protein therapeutics market is segmented into metabolic disorders, immunologic disorders, hematological disorders, cancer, hormonal disorders, and others. The metabolic disorders segment is expected to account for significantly large revenue share the global protein therapeutics market during the forecast period owing to the necessity for high quality drugs and versatile therapies for disease treatment, especially diabetes. Problems of protein metabolism include disorders of protein synthesis in the organization and problems of plasma protein metabolism.

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Regional Insights:

The North America market accounted for largest revenue share in the global protein therapeutics market in 2022 attributed to increasing health awareness among people and rising demand for protein therapeutics. In addition, increasing investment in new technologies, rapid growth of the healthcare sector, and improved access to several beneficial facilities are other factors driving market revenue growth of this region. These companies are making major investments in Research & Development (R&D) projects aimed at developing innovative and attractive, effective, and affordable products with the rising demand for these products. For instance, in April 2020, Amgen announced the launch of a biosimilar version of avastin (bevacizumab, which is used to treat certain types of cancer).

The Asia Pacific market is expected to register fastest revenue growth rate in the global protein therapeutics market over the forecast period. This is due to rapid technological advancements and increasing industrialization in these regions. For instance, Grünenthal GmbH and Kyowa Kirin Co. announced the successful completion of a deal to enter into a joint venture collaboration for Kyowa Kirin International's established medicines portfolio. The portfolio comprises 13 brands across six therapeutic areas primarily focused on pain management, including Abstral and PecFent for breakthrough cancer pain, Moventig for opioid-induced constipation, and Adcal-D3 for osteoporosis.

The Europe market is expected to account for considerably large revenue share in the global protein therapeutics market over the forecast period due to rapid growth of healthcare industries and increasing high-value investments for R&D initiatives. In addition, rising number of mergers & acquisition activities is also expected to drive market revenue growth of this region. For instance, in March 2020, Biogen completed the acquisition of Nightstar Therapeutics, a clinical stage gene therapy company focused on Adeno-Associated Virus (AAV) treatments for inherited retinal disorders.

Scope of Research

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Major Companies and Competitive Landscape

The global protein therapeutics market is fairly fragmented with many large and medium-sized players accounting for majority of market revenue. Major players are deploying various strategies, entering into mergers & acquisitions, strategic agreements & contracts, developing, testing, and introducing more effective protein therapeutics solutions. Some major players included in the global protein therapeutics market report are:

• Eli Lilly and Company.
• Johnson & Johnson Services, Inc.
• Pfizer Inc.
• Boehringer Ingelheim International GmbH.
• Kyowa Kirin Co., Ltd.
• Generex Biotechnology Corp.
• Genentech, USA Inc.
• Bristol-Myers Squibb Company
• Abbott.
• Amgen Inc.

Strategic Development

• On 22 October, 2021, Bosch Packaging Technology, a division of Robert Bosch GmbH, introduced the MLF 5088, a new filling and closing machine for pharmaceutical vials. This machine is intended to be used in pharmaceutical production plants, where it provides excellent precision and flexibility in filling and sealing vials of various sizes and varieties.

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For the purpose of this report, Emergen Research has segmented the global protein therapeutics market on the basis of product, application, function, end use, and region:

• Product Outlook (Revenue, USD Billion; 2019-2032)
  • Monoclonal antibodies
  • Insulin
  • Fusion protein
  • Erythropoietin
  • Interferon
  • Human growth hormone
  • Others
• Application Outlook (Revenue, USD Billion; 2019-2032)
  • Metabolic disorders
  • Immunologic disorders
  • Hematological disorders
  • Cancer
  • Hormonal disorders
  • Others
• Function Outlook (Revenue, USD Billion; 2019-2032)
  • Vaccines
  • Protein diagnostics
  • Enzymatic
  • Others
• End-use Outlook (Revenue, USD Billion; 2019-2032)
  • Pharmaceutical companies
  • Research organizations
  • Healthcare service providers
  • Academic research institutes
• Regional Outlook (Revenue, USD Billion; 2019–2032)
  • North America
    1. U.S.
    2. Canada
  • Europe
    1. Germany
    2. France
    3. UK
    4. Italy
    5. Spain
    6. Benelux
    7. Russia
    8. Rest of Europe
  • Asia Pacific
    1. China
    2. Japan
    3. South Korea
    4. India
    5. ASEAN Countries
    6. Oceania
    7. Rest of APAC
  • Latin America
    1. Brazil
    2. Mexico
    3. Rest of LATAM
  • Middle East & Africa
    1. GCC Countries
    2. Israel
    3. Turkey
    4. South Africa
    5. Rest of Middle East & Africa

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