Protein Therapeutics Market Size, Share Growth & Analysis Report 2024 To 2032
global protein therapeutics market size reached USD 345.6 Billion in 2023. Looking forward, IMARC Group expects the market to reach USD 603.5 Billion by 2032, exhibiting a growth rate (CAGR) of 6.2% during 2024-2032.
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IMARC Group, a leading market research company, has recently released a report titled “Protein Therapeutics Market Report by Product (Monoclonal Antibodies (mAbs), Human Insulin, Erythropoietin, Clotting Factors, Fusion Protein, and Others), Therapy Area (Metabolic Disorders, Immunological Disorders, Hematological Disorders, Cancer, Hormonal Disorders, Genetic Disorders, and Others), Function (Enzymatic and Regulatory Activity, Special Targeting Activity, Vaccines, Protein Diagnostics), and Region 2024-2032”. The study provides a detailed analysis of the industry, including the global protein therapeutics market trends, share, size, and industry trends forecast. The report also includes competitor and regional analysis and highlights the latest advancements in the market.
The global protein therapeutics market size reached USD 345.6 Billion in 2023. Looking forward, IMARC Group expects the market to reach USD 603.5 Billion by 2032, exhibiting a growth rate (CAGR) of 6.2% during 2024-2032.
Global Protein Therapeutics Market Trends:
The growing geriatric population worldwide, particularly in developed countries, which increases the need for protein-based treatments, is boosting the market growth.
Additionally, the rising demand for protein therapeutics, as they can be engineered for high specificity, targeting specific disease mechanisms, which enhances efficacy and reduces side effects, is contributing to the market growth. Besides this, the growing investments in research and development (R&D) by pharmaceutical companies and academic institutions, driving innovation in protein therapeutics, are fostering the market growth.
Furthermore, recent advances in protein purification, analytical techniques, and drug delivery systems, which improve therapeutic outcomes and patient compliance, are fueling the market growth.
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Factors Affecting the Growth of the Protein Therapeutics Industry:
· Increasing Prevalence of Chronic Diseases:
The escalating prevalence of chronic diseases such as cancer, diabetes, and autoimmune disorders is accelerating the protein therapeutics market growth. These conditions require long-term management and effective treatment options, where protein-based therapies have shown significant promise. For instance, monoclonal antibodies and therapeutic proteins can target specific disease mechanisms with high precision, offering improved efficacy and reduced adverse effects compared to conventional treatments.
Additionally, pharmaceutical companies are investing heavily in developing biologics and biosimilars to address these therapeutic needs, thereby expanding the market and providing patients with more effective treatment options.
· Advancements in Biotechnology:
Advancements in biotechnology have revolutionized the development and production of protein therapeutics, thereby fueling the market growth. Techniques such as recombinant deoxyribonucleic acid (DNA) technology, protein engineering, and advanced purification methods have enabled the creation of biologically active proteins that mimic natural molecules in the body. These technological innovations not only enhance the therapeutic efficacy of proteins but also improve their stability, safety profile, and manufacturability.
Moreover, the ability to modify and optimize proteins for specific therapeutic purposes has led to the discovery of novel biologics and biosimilars targeting a wide range of diseases.
· Rising Biologics Approvals:
The increasing number of regulatory approvals for biologics and biosimilars is bolstering the protein therapeutics market growth. Regulatory agencies are establishing clear pathways for the approval of biologics, fostering innovation and competition among pharmaceutical companies.
Furthermore, biologics offer distinct advantages over traditional small-molecule drugs, including higher specificity, reduced toxicity, and potentially superior clinical outcomes. With the expiration of patents for many blockbuster biologics, there has been a surge in the development of biosimilars, which are highly similar versions of approved biologics. This has not only increased patient access to essential therapies but also driven down treatment costs, making protein-based therapies more economically viable.
Protein Therapeutics Market Report Segmentation:
By Product:
· Human Insulin
· Erythropoietin
· Clotting Factors
· Fusion Protein
· Others
Monoclonal antibodies (mAbs) hold most of the market share due to their high specificity in targeting disease-related antigens, extensive therapeutic applications across oncology, autoimmune diseases, and infectious diseases.
By Therapy Area:
· Immunological Disorders
· Hematological Disorders
· Cancer
· Hormonal Disorders
· Genetic Disorders
· Others
Metabolic disorders accounted for the largest market share because of the increasing global prevalence of conditions such as diabetes and obesity, the ongoing need for innovative treatments to manage these chronic diseases effectively, and the development of biologic therapies targeting specific metabolic pathways.
By Function:
Enzymatic and Regulatory Activity
· Special Targeting Activity
· Vaccines
· Protein Diagnostics
Based on the function, the market has been divided into enzymatic and regulatory activity, special targeting activity, vaccines, and protein diagnostics.
Regional Insights:
· Asia Pacific
· Europe
· Latin America
· Middle East and Africa
North America's dominance in the market is attributed to its robust healthcare infrastructure, high healthcare expenditure supporting advanced biologic therapies, presence of key pharmaceutical companies engaged in biologics development, early adoption of novel treatments, and favorable regulatory environment promoting biologics approvals.
The competitive landscape of the protein therapeutics market size has been studied in the report with the detailed profiles of the key players operating in the market.
Some of These Key Players Include:
· Abbott Laboratories
· Abbvie Inc.
· Baxter International Inc.
· Biogen Inc.
· Csl Behring L.L.C. (CSL Limited)
· Eli Lilly and Company
· F. Hoffmann-La Roche AG (Roche Holding AG)
· Johnson & Johnson
· Merck & Co. Inc.
· Novo Nordisk A/S (Novo Holdings A/S)
· Pfizer Inc.
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Key Highlights of the Report:
· Market Performance (2018-2023)
· Market Outlook (2024-2032)
· Market Trends
· Market Drivers and Success Factors
· Impact of COVID-19
· Value Chain Analysis
If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
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IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
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