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The therapeutic proteins market has seen rapid growth in recent years. It is expected to increase from $140.96 billion in 2023 to $158.16 billion in 2024, with a CAGR of 12.2%. Factors contributing to this growth include advancements in protein engineering, the expansion into chronic diseases, the emergence of immunotherapy, and the development of targeted cancer therapies.
What Are The Forecasts For The Global Therapeutic Proteins Market Size And The Predicted Annual Growth Rates?
The therapeutic proteins market is expected to see rapid growth, projected to reach $257.4 billion by 2028 at a CAGR of 12.9%. This growth is driven by regulatory changes, improved delivery systems, gene editing advancements, biobetters development, and immunotherapy progress. Major trends include regulatory framework enhancements, biotechnology advancements, personalized medicine approaches, and the dominance of monoclonal antibodies.
What Are The Major Factors Driving The Growth Of The Therapeutic Proteins Market?
Technological advancements in protein-based drug development are fueling the therapeutic proteins sector. Protein-engineering technologies have improved production yield, targeting, and functionality, driving the approval of therapeutic proteins like belimumab and taliglucerase alfa.
Which Major Market Players Are Propelling the Therapeutic Proteins Market?
Major companies operating in the market report are 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.
What Trends Are Shaping the Future of the Therapeutic Proteins Market Size?
The approval of monoclonal antibodies is increasing in the protein therapeutic segment, particularly for treating chronic diseases like cancer and immune disorders. With more safety than previous drugs, 44 monoclonal antibodies were approved by the FDA in the last five years.
What Is the Segmentation of the Global Therapeutic Proteins Market?
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
Regional Insights: North America’s Dominance in the Therapeutic Proteins Market
North America was the largest region in the therapeutic proteins market in 2023. The regions covered in the therapeutic proteins global market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
What Is The Definition Of The Therapeutic Proteins Market?
Therapeutic proteins are pharmaceuticals that are genetically modified versions of naturally occurring human proteins. These potent, fast-acting medications are developed in laboratories for pharmaceutical applications. Therapeutic proteins have revolutionized disease treatment due to their high effectiveness in vivo.
The Therapeutic Proteins Global Market Report 2024 from The Business Research Company includes the following key information:
• Market size data for both historical and future periods
• Analysis of both macro and microeconomic factors that have impacted the market over the past five years
• Regional market analysis covering Asia-Pacific, China, Western Europe, Eastern Europe, North America, the USA, South America, and the Middle East and Africa
• Country-specific market analysis for Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA.
Overview of the Global Therapeutic Proteins Market Report: Trends, Opportunities, Strategies, and More
The Therapeutic Proteins Global Market Report 2024 from The Business Research Company is an extensive resource that delivers insights into the therapeutic proteins market size, therapeutic proteins market drivers and trends, therapeutic proteins market major players, therapeutic proteins competitors’ revenues, therapeutic proteins global market positioning, and therapeutic proteins market growth across geographies. This report provides valuable in-depth insights into potential opportunities and strategies. Companies can utilize the information presented to target segments with the greatest growth potential.
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