PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1174542
PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1174542
Protein Therapeutics Market size was valued at USD 290,701.8 Million in 2021, expanding at a CAGR of 8.2% from 2022 to 2028.
Protein-based therapies made synthetically are referred to as protein therapeutics. They are strong, quick-acting medications that give the body a precise dosage of tiny protein molecules. Recombinant versions of naturally occurring proteins consist of insulin, monoclonal antibodies, erythropoietin, fusion proteins, and interferon.
Due to the sharp rise in chronic disease cases and advancements in plasma-inferred medicines, protein therapeutics have seen a considerable increase in popularity, which, in turn, is expected to boost market growth. Additionally, the surge in public awareness of protein therapies promotes market growth. Protein drugs are a sizable class of medications that are permitted for the treatment of numerous disorders, including cancer and other types of malignant growth. These drugs have great potential to enhance human health. Protein therapy is a disease-treating approach that uses proteins and peptides to cure disease. Protein treatment delivers protein to the body in precise amounts (as would typically be present) to help in healing disease, treating pain, or remodeling structures. Protein therapy is similar to quality therapy but not at all like quality therapy.
Furthermore, the enormous increase in the prevalence of numerous chronic diseases including cancer, diabetes, and various cardiovascular conditions is one of the major factors driving the growth of the global market for protein therapies. The market is also seeing considerable growth due to consumers and end users becoming more aware of the advantages of protein therapies and the few risks or side effects they pose. However, due to the high expense of research and development on sophisticated biological systems capable of activating tissues, the market may face significant obstacles. Further, the COVID-19 pandemic has positively impacted the global protein therapeutics market with a growing emphasis on boosting healthcare facilities across the globe.
The Global Protein Therapeutics Market is segmented on the basis of Therapy, Product, Function, and Region.
The market is split into seven categories based on Therapy: metabolic disorders, hematological disorders, immunological disorders, hormonal disorders, cancer, genetic disorders, and others. The genetic disorders segment dominates the market. Growing demand for gene detection disease is primarily contributing to segment growth.
The market is segmented into six categories based on Product: Monoclonal Antibodies (mAbs), human insulin, erythropoietin, clotting factors, fusion protein, and others. The monoclonal antibodies segment dominates the market. Growing demand for gene detection and clonal treatment of disease is primarily contributing to segment growth.
The market is segmented into four categories based on Function: enzymatic and regulatory activity, special targeting activity, vaccines, and protein diagnostics. The protein diagnostics segment dominates the market and is likely to maintain its dominance during the forecast period. This is partly due to an increase in the need for protein therapeutics.
The worldwide market for Protein Therapeutics is highly fragmented comprised of large and small-sized market players with a few large ones dominating the global market share. The companies in the market emphasize adopting aggressive strategies to reach out large consumer base. Some of the primary techniques used by corporations to strengthen their reach and expand their market share include new Therapy launches, partnerships, distribution network development, R&D spending, and mergers and acquisitions.
For instance, in January 2022, Amgen Inc. and Generate Biomedicines announced a multi-target, multi-modality research collaboration agreement to boost their medical capabilities.
The scope of this report covers the market by its major segments, which include as follows: