Wilmington, Delaware, United States, Jan. 17, 2024 (GLOBE NEWSWIRE) -- Transparency Market Research Inc. - The protein therapeutics market was valued at US$ 318.4 billion in 2022. A CAGR of 6.3% is predicted from 2023 to 2031, reaching more than US$ 549.4 billion by 2031. A broader range of diseases can be treated with novel protein therapeutics based on research in proteomics, genomics, and systems biology. Technological advances, such as glycoengineering and protein engineering, are making it possible to create biologics that are less immunogenic and have better pharmacokinetics.
Genetic disorders could be treated more effectively by integrating gene therapy and protein therapeutics. In addition, more complex diseases may benefit from combination therapies. As bioprocessing and manufacturing technologies improve, protein therapeutics could be made more affordable and scalable, thereby improving access to these treatments.
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Treatment for rare diseases may benefit greatly from protein therapeutics, which are particularly effective in targeting and directing interventions. Cancer and other immune-related disorders may benefit further from immunotherapies, including monoclonal antibodies and other protein-based approaches. By enhancing drug delivery technologies, protein therapeutics can be made more bioavailable, administered less frequently, and improved in compliance with medical guidelines.
Rare diseases are increasingly being treated with protein therapeutics. Protein-based therapies and advances in molecular studies have contributed to this trend. Oncology continues to emphasize immunotherapies, especially monoclonal antibodies. The market for protein therapeutics is experiencing significant growth in immuno-oncology targets and combination therapies. Growing demand for biosimilar drugs, including protein therapeutics that are similar to approved biologics, has been observed in the market for biosimilar. In addition to the expiration of biologic patents and potential cost savings, this trend is also driven by the expiration of biologic patents.
Key Findings of the Market Report
- In 2022, monoclonal antibodies held the largest share of the global protein therapeutics market.
- Based on application, cancer was the most important segment of the global protein therapeutics market in 2022.
- North America is expected to experience rapid growth in the near future.
- In 2022, Asia Pacific experienced robust growth for protein therapeutics in the market.
Global Protein Therapeutics Market: Growth Drivers
- In recent years, chronic diseases such as cancer, diabetes, and autoimmune diseases have driven demand for protein therapeutics and the development of targeted biological therapies.
- Protein therapeutics are becoming more complex and effective with advances in biotechnology, such as recombinant DNA, genetic engineering, and protein expression systems. A monoclonal antibody is a highly specific protein therapeutic that targets a specific disease pathway.
- Traditional small-molecule drugs often have more side effects than this targeted approach. Protein therapeutics have become increasingly popular due to the trend towards personalized medicine.
- Public and private investments in the biopharmaceutical industry support the development and commercialization of protein therapeutics. Protein therapeutics are gaining popularity due to aging populations, biologic awareness, and quality of life concerns.
- Research and development are vital to discovering and bringing new protein therapeutics to market for pharmaceutical companies and biotechnology companies. New therapeutic targets are being developed while existing protein-based drugs are being improved.
- Beyond traditional areas of oncology, protein therapeutics are discovering new applications. In addition to treating various diseases, such as infectious diseases, rare genetic disorders, and neurological conditions, these drugs are also being investigated to treat various diseases.
Global Protein Therapeutics Market: Regional Landscape
- North America will dominate the market for protein therapeutics. Several key players and new treatments are driving the growth of the protein therapeutics industry in North America. Protein therapeutics are crucial to treating diseases of chronic nature, such as diabetes, cancer, and autoimmune problems, which have become increasingly prevalent in recent times.
- Recent advances in biotechnology have enabled the development and production of new and more complex protein therapeutics, especially in genetic engineering and protein expression systems. Research and development investments in protein-based drugs continue to be heavily made by pharmaceutical and biotechnology companies in North America.
- Regulatory authorities, such as the U.S. Food and Drug Administration (FDA) and Health Canada, have provided clear pathways for the review and approval of protein therapeutics.
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Global Protein Therapeutics Market: Key Players
The global protein therapeutics market is fragmented, with the presence of large number of players. Companies are focusing on investment in R&D and collaborations to increase market share.
- Thermo Fisher Scientific Inc.
- Genzyme Corporation (Sanofi)
- AbbVie Inc.
- Sanofi
- Leadiant Biosciences
- Takeda Pharmaceutical Company Limited
- Amicus Therapeutics
- Bayer AG
- Bristol-Myers Squibb
- Daiichi Sankyo Company
- Abbott
- Sanofi
Key Developments
- In April 2022, Plexium and AbbVie partnered to develop and commercialize targeted protein degradation therapeutics for neurological diseases. AbbVie and Plexium develop novel therapies against historically challenging drug targets by leveraging AbbVie's neuroscience expertise. AbbVie will select additional research and development programs based on preclinical research activities for the collaboration targets.
- In November 2023, the United States-South Korean biotech company Orum Therapeutics received $180 million from Bristol Myers Squibb (BMS) to develop an antibody-drug conjugate (ADC) for treating blood cancer.
Global Protein Therapeutics Market: Segmentation
By Product
- Monoclonal Antibodies
- Enzyme Replacement Therapy
- Cytokines
- Interferons
- Interleukins
- Growth Factors
- Fusion Proteins
- Anti-coagulants
- Bone Morphogenetic Proteins (BMPs)
- Hormones
- Others (engineered protein scaffolds, etc.)
By Application
- Metabolic Disorders
- Immunologic Disorders
- Hematological Disorders
- Cancer
- Genetic Disorders
By Route of Administration
- Injectable Proteins
- Oral Proteins
By Region
- North America
- Europe
- Asia Pacific
- Latina America
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