Protein Therapeutics Market Rapidly Increasing Worldwide at a CAGR of 7.1% from 2021 to 2030.

PORTLAND, OREGON, UNITED STATES, July 11, 2024 /EINPresswire.com/ -- 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.

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.

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Therapeutic proteins are an important class of drugs that serve patients in need of novel therapies. They are engineered in laboratories for pharmaceutical use, such as noncovalent binders, proteins that affect covalent bonds (almost all enzymes), and albumin. Therapeutic proteins are extremely effective in vivo and have revolutionized disease treatment. Therapeutic protein products are useful in treatment of a wide range of indications, including cancer, genetic disorders, infectious diseases, and metabolic disorders. These proteins have the potential to reduce morbidity, slow disease progression, and/or replace essential proteins that a patient does not produce endogenously.

Surge in the prevalence of chronic diseases and increase in proteomics research have boosted the growth of the global protein therapeutics market. However, high production costs required for developing and manufacturing protein-based therapeutics hinder the market growth. On the contrary, surge in healthcare expenditure and increase in geriatric populations would open new opportunities for the market players in the future.

The metabolic disorders segment held the largest share in 2020, accounting for around one-fifth of the market, due to surge in the number of metabolic disorders, especially diabetes. However, the cancer segment is expected to register the highest CAGR of 9.1% during the forecast period, owing to surge in cancer cases and increase in demand for personalization of treatments.

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Protein Therapeutics Market Report Highlights:

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)

Major market players

Abbott Laboratories
Baxter International Inc.
Amgen Inc.
F. Hoffmann-La Roche Ltd.
Eli Lilly and Company
Merck & Co., Inc.
Johnson & Johnson (Janssen Pharmaceuticals)
Pfizer Inc.
Novo Nordisk A/S
Sanofi

North America held the largest share

By region, 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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