Protein Therapeutics Market: Current Analysis and Forecast (2022-2028)

Protein Therapeutics Market: Current Analysis and Forecast (2022-2028)

The protein therapeutics market is expected to register a CAGR of around ~6.3% over the period of 2022-2028. This is mainly due to the use of therapeutic proteins for manufacturing vaccines as they provide defense against autoimmune diseases, foreign agents, and cancer is likely to promote the market. Also, Protein therapeutics have stringent government regulations coupled with the growing focus of major stakeholders in the healthcare industry to adopt to make protein therapeutics products more sustainable with fewer side effects and cost-effective. Major pharmaceutical companies are investing heavily in their products due to the rising prevalence of chronic diseases, and the growing geriatric population. According to Union for International Cancer Control (UICC), the world’s population is aging rapidly, with 703 million people worldwide above the age of 65 years, representing 9.1% of the global population. Furthermore, Population aging will have consequences for cancer control globally as cancer is more prevalent in older adults. In addition, protein therapy is similar to gene therapy which involves protein delivery in specific amounts to the body to facilitate the precise functioning of different glands and other organs in the body. Moreover, growth in proteomic research is expected to lead to an increase in the emergence of new protein drugs and drugs that have the potential to significantly improve human health which drives the market. Therefore, the market for protein therapeutics is expected to witness significant growth during the forecast period.

• Based on type, the market is categorized into monoclonal antibodies, insulin, fusion protein, erythropoietin, interferon, and others. Among these, the monoclonal antibodies are expected to witness the highest CAGR during the forecast period. This is mainly due to the wide range of availability of monoclonal antibodies, and the importance and applicability of these products in the treatment of different chronic disorders.
• Based on application, the market is categorized into cancer, metabolic disorders, immunologic disorders, hematological disorders, and others. Among these, metabolic disorders are expected to witness the highest CAGR during the forecast period. This is mainly due to the requirement for quality drugs and versatile therapies for disease treatment, especially diabetes, which is expected to boost the growth of this segment. Therefore, this segment rising due to the use of protein therapeutics in the global market is likely to boost the demand for protein therapeutics.
• Based on protein function, the market is categorized into enzymatic and regulatory activity, special targeting activity, vaccines, and others. Among these, enzymatic and regulatory activity is expected to witness the highest CAGR during the forecast period. This is mainly due to enzymes can be regulated by changing the activity of a preexisting enzyme or changing the amount of an enzyme.
• Based on end-user, the market is categorized into hospitals and clinics, specialty centers, and others. Among these, hospitals and clinics are expected to witness the highest CAGR during the forecast period. The hospitals and clinics are estimated to add to the growing need for protein therapeutics products which is expected to drive the growth of this segment. Also, The use of therapeutic proteins for manufacturing vaccines as they provide defense against autoimmune diseases, foreign agents, and cancer is likely to promote the market.
• For a better understanding of the market adoption of protein therapeutics, the market is analyzed based on its worldwide presence in the countries such as North America (United States, Canada, and the Rest of North America), Europe (Germany, France, Italy, Spain, United Kingdom, and Rest of Europe), Asia-Pacific (China, Japan, India, Australia, and Rest of APAC), and Rest of World. North America constitutes a major share of the protein therapeutics industry attributed to the increase in the prevalence of chronic diseases. According to National Health Council, chronic diseases affect approximately 133 million Americans, representing more than 40% of the total population of this country. Furthermore, the growing demand for the adoption of technologically advanced treatments increases research on the medical applications of protein therapeutics, and the development of advanced protein therapeutics by major companies and the diagnostics industry owing to the presence of well-established market players and frequent product launches in the region.
• Some of the major players operating in the market include Abbott Laboratories, Amgen Inc., Baxter International Inc., Eli Lilly and Company, F. Hoffmann La Roche Ltd, Johnson and Johnson, Merck and Co., Inc., Novo Nordisk AS, Pfizer Inc., Sanofi.