Global Protein Therapeutics Market: Advancements in Biotechnology and Targeted Treatments Drive Growth

Discover the latest trends in the global protein therapeutics market, driven by biotechnological advancements and rising demand for targeted treatments

VANCOUVER, BC, CANADA, July 8, 2024 /EINPresswire.com/ -- The global protein therapeutics market size was USD 152.28 Billion in 2022 and is expected to register a rapid revenue CAGR of 7.6% during the forecast period. The global protein therapeutics market is experiencing substantial growth, driven by increasing demand for targeted treatments and rapid advancements in biotechnology and genetic engineering. Key factors contributing to this growth include the expanding application of protein therapies in addressing cancer, autoimmune diseases, and genetic abnormalities. These therapies are proving effective in treating a spectrum of illnesses, supported by notable collaborations such as the partnership between Nurix Therapeutics and Seagen Inc. to develop Degrader-Antibody Conjugates for cancer treatment.

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Advancements in genetic engineering and biotechnology are pivotal, enabling the development of novel protein-based treatments that are both potent and specific. This innovation is crucial given the rising prevalence of chronic diseases like cancer, diabetes, and cardiovascular diseases, particularly among the elderly population globally.

The market's revolution in protein therapeutics development has led to the production of highly effective medicines. For instance, monoclonal antibodies, a dominant segment in the market, are widely used in treating chronic disorders such as cancer due to their immune system protein properties.

However, despite these advancements, the market faces challenges such as stringent regulatory requirements and high development costs. The complexity of regulatory standards and the need for skilled professionals pose barriers to market growth. Additionally, the substantial costs associated with manufacturing and development hinder broader adoption of protein therapeutics.

Segment-wise, monoclonal antibodies hold the largest market share, owing to their availability and applicability across various chronic conditions. The insulin segment, although growing moderately, is crucial in managing diabetes mellitus.

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In terms of deployment, metabolic disorders, particularly diabetes, dominate the market due to the demand for effective therapies. Pharmaceutical companies lead in end-use segments, driving market growth by leveraging protein-based medications for specialized treatments.

Looking ahead, the global protein therapeutics market is poised for steady growth as biotechnology continues to evolve and as pharmaceutical companies expand their research and development efforts. The focus remains on developing more effective and targeted therapies to meet the growing healthcare demands worldwide.

Protein Therapeutics Top Companies and Competitive Landscape

The global protein therapeutics market is fairly fragmented with many large and medium-sized players accounting for majority of market revenue. Major players are deploying various strategies, entering into mergers & acquisitions, strategic agreements & contracts, developing, testing, and introducing more effective protein therapeutics solutions.

Some major players included in the global protein therapeutics market report are:

Eli Lilly and Company.

Johnson & Johnson Services, Inc.

Pfizer Inc.

Boehringer Ingelheim International GmbH.

Kyowa Kirin Co., Ltd.

Generex Biotechnology Corp.

Genentech, USA Inc.

Bristol-Myers Squibb Company

Abbott

Amgen Inc.

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Protein Therapeutics Latest Industry News

On 22 October, 2021, Bosch Packaging Technology, a division of Robert Bosch GmbH, introduced the MLF 5088, a new filling and closing machine for pharmaceutical vials. This machine is intended to be used in pharmaceutical production plants, where it provides excellent precision and flexibility in filling and sealing vials of various sizes and varieties.

Protein Therapeutics Market Segment Analysis

For the purpose of this report, Emergen Research has segmented the global protein therapeutics market on the basis of product, application, function, end use, and region:

Product Outlook (Revenue, USD Billion; 2019-2032)

Monoclonal antibodies

Insulin

Fusion protein

Erythropoietin

Interferon

Human growth hormone

Others

Application Outlook (Revenue, USD Billion; 2019-2032)

Metabolic disorders

Immunologic disorders

Hematological disorders

Cancer

Hormonal disorders

Others

Function Outlook (Revenue, USD Billion; 2019-2032)

Vaccines

Protein diagnostics

Enzymatic

Others

End-use Outlook (Revenue, USD Billion; 2019-2032)

Pharmaceutical companies

Research organizations

Healthcare service providers

Academic research institutes

Regional Outlook (Revenue, USD Billion; 2019–2032)

North America

U.S.

Canada

Europe

Germany

France

UK

Italy

Spain

Benelux

Russia

Rest of Europe

Asia Pacific

China

Japan

South Korea

India

ASEAN Countries

Oceania

Rest of APAC

Latin America

Brazil

Mexico

Rest of LATAM

Middle East & Africa

GCC Countries

Israel

Turkey

South Africa

Rest of Middle East & Africa

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