increased demand for mabs is driving the Protein Therapeutics Market
Technavio analyzes that the Protein Therapeutics Market is expected to grow at a CAGR of 9.47% during 2023 and 2028. During this period, the market is also expected to show a growth of USD 172.8 billion.There are various factors that contribute to the growth of the market. The Protein Therapeutics Market is experiencing significant growth due to the increasing demand for monoclonal antibodies (mAbs). These therapeutic proteins are widely used in the healthcare industry for the treatment of various diseases, including cancer and autoimmune disorders. Their high specificity and efficacy make them a preferred choice over traditional small molecule drugs. The market is expected to continue its upward trajectory as research and development efforts in this field intensify.
In the dynamic and innovative landscape of the Protein Therapeutics Market, the rising incidence of diseases such as rheumatoid arthritis, cancers, systemic lupus erythematosus, multiple sclerosis, Crohn's disease, psoriasis, ulcerative colitis, transplantation, and diabetic cases, is driving market growth. The escalating burden of diseases like cancer, attributed to lifestyle factors such as smoking, alcohol consumption, and sedentary work, is fueling demand for advanced treatment options. Next-generation antibodies, including GAZYVA, BLINCYTO, Removab, and POTELIGEO, are gaining popularity due to their efficacy in treating cancer. Advanced Drug Conjugates (ADCs), which are highly effective cytotoxic drugs linked to monoclonal antibodies, are revolutionizing disease treatment. Seattle Genetics' SGEN, ImmunoGen's IMGN, and Immunomedics' IMMU are among the leading companies investing in novel ADC technologies. The increasing adoption of ADCs in drug development is significantly contributing to the revenue growth of the global Protein Therapeutics Market. Protein synthesis and formulation techniques, despite their high cost and complex procedures, remain crucial components of the market's growth trajectory.
Know which region is leading the market growth by requesting a sample report
Protein Therapeutics Market Segmentation
As per our research findings, here are some of the key competitors that are leading the industry
Find out what is trending in the market by accessing the free PDF report
The Protein Therapy Market encompasses a range of medicines and treatments for chronic diseases, including cancer, diabetes, autoimmune disorders, and cardiovascular diseases. These therapies utilize both genetically engineered proteins and natural proteins, such as sugars and molecules, to modify the activity duration of therapeutic protein drugs. Major healthcare institutions turn to protein therapies for treating immunological diseases, hematological disorders, and metabolic disorders like diabetes. Monoclonal antibodies segment dominates the market, with chemotherapy and recombinant proteins following closely. Developing economies are expected to drive growth in this versatile market for quality drugs.
The Protein Therapeutics market is a significant segment of the larger pharmaceuticals industry, focusing on the research, development, and production of innovative biological drugs for the treatment of chronic diseases, including cancer, diabetes, autoimmune disorders, and cardiovascular diseases. Major healthcare institutions, pharmaceutical firms, and research centers collaborate to advance protein therapeutics, aiming for improved patient outcomes and reduced healthcare expenditure. The global pharmaceuticals market, which encompasses entities involved in the manufacture and provision of equipment, supplies, pharmaceuticals, biotechnology, and life sciences tools and services, is expected to grow substantially due to demographic shifts, with the aging population in major markets such as the US and Europe. By 2050, approximately one-quarter of the US population and a similar proportion in Europe are projected to be over 60 years old, necessitating increased investment in healthcare infrastructure and advanced treatments. Skilled working professionals play a crucial role in driving the growth of this sector through their expertise and contributions to research and development.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.
Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/