Protein Therapeutics Market Projected to Reach Valuation of USD 566.66 Billion at 7.1% CAGR from 2024-2030
Protein Therapeutics Market Overview 2024 – 2030
As per the report, the global protein therapeutics industry accounted for $283.64 billion in 2020, and is expected to reach $566.66 billion by 2030, growing at a CAGR of 7.1% from 2021 to 2030.
Growth of the global protein therapeutics market is attributed to increase in prevalence of chronic diseases, surge in development of protein-based therapies, and various strategies adopted by key players of the market. Moreover, increase in healthcare expenditure and approval of new products are expected to further drive the market growth during the forecast period.
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Key Takeaways:
- The cancer segment is expected to register the highest CAGR of 9.1% during the forecast period.
- The fusion protein segment is expected to register the highest CAGR of 9.5% during the forecast period.
- Asia-Pacific is expected to register the highest CAGR of 8.7% during the forecast period.
Factors affecting the growth of the Protein Therapeutics Market:
- Biotechnology Innovations: Advances in genetic engineering, recombinant DNA technology, and monoclonal antibody production are critical for the development of new protein therapeutics.
- Drug Delivery Systems: Improvements in drug delivery methods, such as nanoparticles and liposomes, enhance the efficacy and safety of protein-based drugs.
- Production Techniques: Innovations in cell culture technologies and bioreactor designs enhance the efficiency and yield of protein therapeutics production.
- Prevalence of Chronic Diseases: The increasing incidence of chronic diseases such as cancer, diabetes, and autoimmune disorders drives the demand for protein therapeutics.
- Aging Population: An aging global population is more susceptible to diseases that require protein-based therapies, thus boosting market demand.
- Personalized Medicine: The shift towards personalized medicine, where treatments are tailored to individual genetic profiles, supports the growth of the protein therapeutics market.
Economic Downturn Analysis:
- The Covid-19 pandemic had a positive impact on the growth of protein therapeutics due to surge in chronic diseases and increase in demand for therapeutic drugs.
- The number of clinics and hospitals across the globe increased during the pandemic, which supplemented the demand for protein therapeutics.
- However, the prolonged lockdown and disruptions of manufacturing and transportation of healthcare essentials hinder the market.
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Protein Therapeutics Market Segments:
By PRODUCT:
- Monoclonal Antibodies
- Insulin
- Fusion Protein
- Erythropoietin
- Interferon
- Human Growth Hormone
- Follicle Stimulating Hormone
By APPLICATION:
- Metabolic Disorders
- Immunologic Disorders
- Hematological Disorders
- Cancer
- Hormonal Disorders
- Genetic Disorders
- Others
By Region:
- North America (U.S, Canada, Mexico)
- Europe (UK, Germany, France, Spain, Italy, Rest of Europe)
- Asia-Pacific (China, Japan, India, Australia, South Korea, Rest of Asia-Pacific)
- LAMEA (Brazil, South Africa, Saudi Arabia, Rest of LAMEA)
Regional Analysis:
The market across North America dominated the market in 2020, holding nearly half of the market, due to increase in chronic diseases, rapid adoption of advanced technologies, and presence of key players in the region. However, the market across Asia-Pacific is expected to register the highest CAGR of 8.7% during the forecast period, owing to rapidly growing geriatric population, surge in public-private investment, and increase in number of initiatives for healthcare awareness.
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