Protein Therapeutics Market Research Report: By Type (Monoclonal Antibodies, Insulin, Fusion Protein, Erythropoietin, Interferon), Application (Cancer, Metabolic Disorders, Immunologic Disorders, Hematological Disorders), Protein Function - Forecast to 2027
Pune, India - January 17, 2022 /MarketersMedia/ —
Protein Therapeutics Market Overview
The Global Protein Therapeutics Market is expected to cross USD 290,691.88 Million by 2027 at a CAGR of 6.86%.
Market Dynamics
One of the most important classes of pharmaceuticals is therapeutic protein therapies. These medications are used to treat and manage a variety of conditions, including cancer and infectious infections. Protein therapeutic medicines offer a great deal of promise to improve human health, thus demand for these treatments is expected to skyrocket in the future. During the projected period, the increased prevalence of chronic diseases such as diabetes is expected to have an impact on the protein therapies market's growth. Rapid technological breakthroughs in the field of protein therapies are expected to have a beneficial impact on demand. During the forecast period, increased awareness of protein therapies is expected to fuel the global protein therapeutics market's growth. Protein therapeutics market growth is expected to be boosted in the near future by the increased use of plasma-derived medicines for the treatment of chronic diseases. Increased government measures to strengthen the healthcare sector are projected to create favourable conditions for the protein therapies market to grow.
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During the projected period, however, the tight regulatory environment governing product approval is expected to restrain the growth of the protein therapies market. Protein treatments market expansion is projected to be constrained by their high cost.
Segmental Analysis
The market for protein therapeutics has been divided into three categories: type, application, and end user.
Monoclonal antibodies, insulin, fusion proteins, erythropoietin, interferon, human growth hormone, follicle-stimulating hormone, and others are among the products available. Because of the rising prevalence of diabetes around the world, the insulin segment is the fastest-growing.
The worldwide protein therapies market has been divided into cancer, metabolic diseases, immunologic disorders, haematological disorders, and others based on application. Because of the increased frequency of cancer around the world, the cancer segment accounts for a substantial portion of the worldwide protein therapies market.
The global protein therapies market has been divided into hospitals and clinics, specialty centres, and others based on the end user. During the projected period, the hospitals and clinics segment is expected to develop due to an increase in hospital admissions and the increased prevalence of chronic diseases.
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Regional Overview
During the review period, the Americas was the largest regional market. The demand for therapeutic proteins is expanding as a result of increased government initiatives and growing concerns about healthcare workers' health and safety. Moreover, one of the primary factors driving the protein therapies market over the forecast period is the increased prevalence of cancer. With such a big patient population, the global protein therapies market is expected to increase significantly in the near future.
During the forecast period, the western European healthcare market, which includes Germany, the United Kingdom, France, and Italy, is expected to see an increase in healthcare expenditure, as well as an increase in cases of rheumatoid arthritis, multiple sclerosis, and chronic inflammatory demyelinating polyneuropathy, resulting in the growth of the protein therapeutics market. During the forecast period, it is expected to enhance the growth of the protein therapies market.
The fastest-growing geographical market is Asia-Pacific. Emerging market participants in previously untouched regions, increased R&D in the protein therapeutics segment, the government's increased focus on immunisation to avoid various diseases, and a large target population are all factors impacting market expansion. One of the primary factors driving the region's protein therapies market growth is the expanding elderly population.
The expansion of the protein therapeutics market in the Middle East and Africa is likely to be fueled by government efforts and increased investments in the healthcare sector in the UAE and South Africa.
Competitive Dynamics
The notable players of the market are Abbott Laboratories (US), Amgen Inc. (US), Baxter International Inc. (US), Eli Lilly and Company (US), F. Hoffmann-La Roche Ltd. (Switzerland), Johnson & Johnson (US), Merck & Co., Inc. (US), Novo Nordisk A/S (Denmark), CSL Behring (US), Bristol Myers Squibb Co. (US), Pfizer Inc. (US), Sanofi (France), and Biogen, Inc. (US).
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