Protein Therapeutics Market Rises: 6.34% CAGR
Evolve Business Intelligence has published a research report on the Global Protein Therapeutics Market, 2023–2033. The global Protein Therapeutics Market is projected to exhibit a CAGR of around 6.34% during the forecast period of 2023 to 2033.
Evolve Business Intelligence has recognized the following companies as the key players in the global Protein Therapeutics Market: Abbott Laboratories, Amgen Inc., Baxter International Inc., Eli Lilly and Company, Hoffmann-La Roche Ltd., Johnson & Johnson, Novo Nordisk A/S, Sanofi, Biogen Inc. and Genentech Inc.
More Information: https://evolvebi.com/report/protein-therapeutics-market-analysis/
Market Highlights
The Global Protein Therapeutics Market is projected to be valued at USD 562.37 Billion by 2033, recording a CAGR of around 6.34% during the forecast period. The Protein Therapeutics Market refers to the global industry focused on the research, development, manufacturing, and commercialization of protein-based drugs used for therapeutic purposes. Protein therapeutics are proteins engineered in the laboratory for pharmaceutical use and include a wide range of products such as monoclonal antibodies, cytokines, enzymes, insulin, and other recombinant proteins. These therapeutics are used to treat various diseases, including cancer, diabetes, autoimmune disorders, and genetic diseases.
The Protein Therapeutics Market is a dynamic and rapidly evolving sector within the pharmaceutical industry, driven by technological advancements and increasing demand for targeted and effective treatments for complex diseases.
The COVID-19 pandemic had a significant impact on the Protein Therapeutics Market. The pandemic accelerated research and development of protein-based therapeutics, such as monoclonal antibodies, for COVID-19 treatment. Products like Regeneron’s REGN-COV2 and Eli Lilly’s bamlanivimab received emergency use authorizations. The urgency to find effective COVID-19 treatments led to rapid advancements in protein engineering and production technologies. Protein-based vaccines, such as those using spike proteins, were developed, showcasing the potential of protein therapeutics in vaccine technology. The pandemic disrupted global supply chains, affecting the production and distribution of protein therapeutics due to shortages of raw materials and logistical challenges. The economic downturn caused by the pandemic led to uncertainties in healthcare spending and investment, impacting market growth projections. The pandemic highlighted the need for robust healthcare and research infrastructure, leading to increased investments in biopharmaceutical capabilities.
Segmental Analysis
The global Protein Therapeutics Market has been segmented based on Product Type and Application.
Based on Product Type, the Protein Therapeutics Market is segmented into Monoclonal Antibodies, Insulin, Fusion Protein, Erythropoietin, Interferon and Others. The Monoclonal Antibodies segment is anticipated to dominate the market.
Based on Application, the global Protein Therapeutics Market has been divided into Metabolic Disorders, Immunologic Disorders, Hematological Disorders, Cancer, Hormonal Disorders and Others. The Immunologic Disorders segment is anticipated to dominate the market.
More Information: https://evolvebi.com/report/protein-therapeutics-market-analysis/
Regional Analysis
The Protein Therapeutics Market is divided into five regions: North America, Europe, Asia-Pacific, South America, and the Middle East, & Africa. North America, particularly the United States, is a major market for protein therapeutics due to its advanced healthcare infrastructure, significant R&D investments, and high prevalence of chronic diseases. Strong presence of leading pharmaceutical and biotech companies and growing use of biologics and protein therapeutics in various therapeutic areas. Europe is a significant market with substantial growth potential, driven by increasing adoption of protein therapeutics and supportive regulatory frameworks. Presence of major pharmaceutical companies and research institutions and european Medicines Agency (EMA) offers streamlined approval processes for innovative therapeutics. The Asia-Pacific region is experiencing rapid growth, driven by increasing healthcare access, rising disease prevalence, and growing investment in biotechnology. Expanding healthcare infrastructure and rising income levels in countries like China and India and increased focus on developing and commercializing protein therapeutics. Latin America is witnessing growth in the protein therapeutics market, driven by increasing healthcare access and rising demand for advanced therapies. Expanding healthcare infrastructure and increasing availability of advanced treatments and variability in economic conditions and healthcare access across different countries. The Middle East and Africa region is experiencing gradual growth in the protein therapeutics market, with increasing investments and healthcare improvements. Investments in healthcare infrastructure and increasing availability of advanced treatments and increased prevalence of chronic diseases and demand for effective treatments.
