With the emergence and long-term Impact of COVID-19, Global Protein Therapeutics Market to reach USD 563.20 billion by 2030
Bizwit Research & Consulting LLP’s recent analysis on the Global Protein Therapeutics Market points towards a potential rise to USD 563.20 billion by 2030. Protein therapeutics refers to a class of therapeutic agents that are based on proteins or peptides. Proteins are substantial molecules that are crucial for a variety of biological functions, such as immune function, metabolism, and cell signaling. These therapeutic compounds are intended to treat illnesses, disorders, or medical conditions by interacting with certain bodily targets, such as receptors, enzymes, or signaling molecules. The favorable regulatory environment, increase in the geriatric population, and development of the biologics sector, coupled with the rise in healthcare expenditure are the key factors that are spurring the market demand across the globe.
Geographically, the global Protein Therapeutics market has been segmented into North America, Europe, Asia Pacific (APAC), Latin America, and Middle East and Africa (MEA). North America dominated the market in 2022 owing to the increasing advancements in biotechnology, growing funding for research and development activities, along with the presence of key players in the region. Whereas, Asia Pacific is expected to grow at the highest CAGR over the forecasting years. The rapidly growing geriatric population, increasing patient awareness toward protein therapeutics, as well as rising prevalence of chronic diseases are significantly propelling the market demand across the region.
The global Protein Therapeutics market is highly competitive owing to the presence of several key manufacturers such as Novo Nordisk AS Baxter International Inc. Amgen Inc. Merck and Co., Inc. Sanofi S.A. Eli Lilly And Company Abbott Laboratories Pfizer Inc. Johnson and Johnson (Janssen Pharmaceuticals) F. Hoffmann La Roche Ltd, and others.
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Key findings of the study suggest:
- Global Protein Therapeutics Market is anticipated to grow with a healthy growth rate of more than 7.1% over the forecast period 2023-2030.
- In Product segment, Monoclonal Antibodies emerged out as the leading market segment in 2023.
- North America is anticipated to drive regional growth owing to increasing advancements in biotechnology in the region.
- Asia Pacific is also expected to grow at higher rate during 2023-2030 owing to growing geriatric population in the region.
Bizwit Research & Consulting has considered following segments for the study:
By Product:
- Monoclonal Antibodies
- Insulin
- Fusion Protein
- Erythropoietin
- Interferon
- Human Growth Hormone
- Follicle Stimulating Hormone
By Application:
- Metabolic Disorders
- Immunologic Disorders
- Cancer
- Hormonal Disorders
- Genetic Disorders
- Others
Regional Outlook
- North America
- US
- Canada
- Europe
- UK
- Germany
- France
- Spain
- Italy
- ROE
- Asia Pacific
- China
- India
- Japan
- Korea
- Australia
- RoAPAC
- Latin America
- Brazil
- Mexico
- Rest of Latin America
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of Middle East & Africa
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