Protein Therapeutics Market to Garner $566.66 Bn, Globally, by 2030 at 7.1% CAGR: Allied Market Research – Yahoo Finance

Surge in the prevalence of chronic diseases and increase in proteomics research have boosted the growth of the global protein therapeutics market.

PORTLAND, Ore., March 29, 2022 /PRNewswire/ -- Allied Market Research recently published a report, titled, "Protein Therapeutics Market by Product (Monoclonal Antibodies, Insulin, Fusion Protein, Erythropoietin, Interferon, Human Growth Hormone, and Follicle Stimulating Hormone) and Application (Metabolic Disorders, Immunologic Disorders, Hematological Disorders, Cancer, Hormonal Disorders, Genetic Disorders, and Others): Global Opportunity Analysis and Industry Forecast, 20212030". 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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Major determinants of the market growth

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.

Covid-19 scenario:

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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The metabolic disorders segment dominated the market growth

By application, 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.

The fusion protein segment to manifest the highest CAGR through 2030

By product, the fusion protein segment is expected to register the highest CAGR of 9.5% during the forecast period, owing to advantages of the fusion protein over other conventional products and enhanced product homogeneity. However, the monoclonal antibodies segment is expected to hold the largest share in 2020, contributing to nearly half of the market, due to wide availability and application to treat various chronic diseases.

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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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

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Protein Therapeutics Market to Garner $566.66 Bn, Globally, by 2030 at 7.1% CAGR: Allied Market Research - Yahoo Finance