Global Protein Inhibitors Market To Reach Value Of About $75 Billion In 2023
The global protein inhibitors market is expected to decline from $59.66 billion in 2019 to $56.97 billion in 2020 at a compound annual growth rate (CAGR) of -4.5%. The decline is mainly due to the COVID-19 outbreak that has led to restrictive containment measures involving social distancing, remote working, and the closure of industries and other commercial activities resulting in operational challenges. The entire supply chain has been disrupted, impacting the market negatively. The market is then expected to recover and reach $75.37 billion in 2023 at a CAGR of 9.78%. The increasing prevalence of chronic diseases such as cancer, cardiovascular diseases, and autoimmune diseases is predicted to contribute to the growth of the protein inhibitors market. However, the high cost of protein inhibitors used for cancer is anticipated to limit the growth of the protein inhibitors market in the near future.
Protein synthesis inhibitors stop the development of cells by disrupting the process leading to the generation of new proteins. Protein inhibitors are pharmaceutical drugs that act on the proteins (special target) in the body and find applications in the treatment of various diseases such as cancer, autoimmune diseases, infectious diseases, and others.
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The global protein inhibitors market is further segmented based on type and geography.
By Product: Protein Kinase Inhibitors, Monoclonal Antibody, Others
By Application: Oncology, Inflammatory Diseases, Others
By Distribution Channel: Hospital Pharmacies, Independent Pharmacies, Online Pharmacies.
By Geography: The global protein inhibitors market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, the North American protein inhibitors market accounts for the largest share in the global protein inhibitors market.
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Trends In The Protein Inhibitors Market
Companies in the protein inhibitors market are increasingly investing in various strategic initiatives such as partnerships and collaborations to develop new drugs to meet the market demand. Strategic collaborations and partnership agreements help companies to expand their existing product portfolio and geographical presence.
Protein Inhibitors Global Market Report 2020 is one of a series of new reports from The Business Research Company that provides protein inhibitors market overviews, analyzes and forecasts protein inhibitors market size and growth for the global protein inhibitors market, protein inhibitors market share, protein inhibitors market players, protein inhibitors market size, protein inhibitors market segments and geographies, protein inhibitors market trends, protein inhibitors market drivers and protein inhibitors market restraints, protein inhibitors market’s leading competitors’ revenues, profiles and market shares. The protein inhibitors market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.