The therapeutic proteins market is experiencing rapid growth, anticipated to jump from $140.96 billion in 2023 to $158.16 billion in 2024, reflecting a CAGR of 12.2%. This growth stems from advances in protein engineering and the rise of targeted cancer therapies. By 2028, the market is expected to reach $257.4 billion, growing at a CAGR of 12.9%. Key trends include the rise of personalized medicine and biotechnology advancements.
Major Driver In The Therapeutic Proteins Market
The technological advancements in protein-based drug development are driving the therapeutic proteins market. Therapeutic proteins, synthesized through genetic engineering and recombinant DNA technology, cannot be chemically produced. Protein-engineering platform technologies, such as glycoengineering, pegylation, Fc-fusion, albumin fusion, and albumin drug conjugation, contribute to increased production yield, product purity, circulating half-life, targeting, and functionality of therapeutic protein drugs. Notably, drugs like Belimumab, ipilimumab, taliglucerase alfa, albiglutide, and recombinant human coagulation factor IX have been developed using protein engineering technologies and received FDA approval in the past five years. These advancements underscore the driving force behind the therapeutic proteins market. The market size in 2023 is [2023 value], with projections for 2024 and 2028 at [2024 value] and [2028 value], respectively.
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Therapeutic Proteins Market Competitive Landscape
Pfizer Inc., Johnson & Johnson Services Inc., F. Hoffmann-La Roche Ltd., Merck & Co. Inc., AbbVie Inc., Novartis International AG, Sanofi S.A, Bristol Myers Squibb Co., AstraZeneca plc, Abbott Laboratories, GlaxoSmithKline plc, Eli Lilly and Company, Boehringer Ingelheim International GmbH, Amgen Inc., Novo Nordisk A/S, Baxter International Inc., Teva Pharmaceutical Industries Ltd., CSL Behring LLC, Chugai Pharmaceutical Co. Ltd., Biogen Inc., Kyowa Kirin Co. Ltd., Oramed Pharmaceuticals Inc., Sandoz International GmbH, Hualan Biological Engineering Inc., Genentech Inc., ProBiogen AG, Diasome Pharmaceuticals Inc., Generex Biotechnology Corp., GeneScience Pharmaceuticals Co. Ltd.
Key Therapeutic Proteins Market Trend
Monoclonal antibody drug approvals are increasing in the protein therapeutic segment. Chronic diseases such as cancer and immunological disorders are well treated with monoclonal antibodies. Monoclonal antibodies are a dominant and well-established product class in the protein therapeutic segment, with more safety and immunogenicity than antibodies. By overcoming the problems associated with previous antibody drugs, cell-based expression systems, such as the Chinese hamster ovary (CHO) mammalian cell expression system, have increased the productivity of monoclonal antibodies. In the last five years, the FDA has approved 213 drugs, among which 44 are monoclonal antibodies. For instance, twelve monoclonal antibodies were approved by FDA for the treatment of cancer and immunological disorders.
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Therapeutic Proteins Market Segmentation
The therapeutic proteins market covered in this report is segmented –
1) By Product Type: Insulin, Fusion Protein, Erythropoietin, Interferon, Human Growth Hormone, Follicle Stimulating Hormone
2) By Function: Enzymatic and Regulatory Activity, Special Targeting Activity, Vaccines, Protein Diagnostics
3) By Application: Metabolic Disorders, Immunologic Disorders, Hematological Disorders, Cancer, Hormonal Disorders, Genetic Disorders, Other Applications
By Geography:The regions covered in the therapeutic proteins market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain
North America was the largest region in the therapeutic proteins market in 2023.
The Therapeutic Proteins Global Market Report 2024 furnishes information about the global therapeutic proteins market, encompassing details like market size, projections for growth, segmentation across various sectors and regions, and an overview of competitors, including their revenues, profiles, and market shares. Furthermore, the report pinpoints potential opportunities and strategic directions derived from market trends and the strategies adopted by key competitors. The report also offers an assessment of how the COVID-19 pandemic, the Russia-Ukraine conflict, and increasing inflation have affected both global and regional markets, furnishing valuable strategic insights for businesses.
