Global Protein Therapeutics Market Report 2022 to 2028 - Increase in the Cases of Cancer Across the World Drives Growth - ResearchAndMarkets.com
DUBLIN--(BUSINESS WIRE)--Jan 11, 2023--
The “Global Protein Therapeutics Market Size, Share & Industry Trends Analysis Report By Product, By Application (Metabolic Disorders, Immunologic Disorders, Hematological Disorders, Cancer, Hormonal Disorders, Genetic Disorders), By Regional Outlook and Forecast, 2022 - 2028” report has been added to ResearchAndMarkets.com’s offering.
The Global Protein Therapeutics Market size is expected to reach $490.2 billion by 2028, rising at a market growth of 6.9% CAGR during the forecast period.
Protein therapeutic medicines are a class of pharmaceuticals used to treat a range of illnesses, including cancer, metabolic, hematological, immunological, hormonal, genetic, contagious diseases, and others.
These medications could greatly enhance human health. Protein distribution in appropriate amounts to the body to enable the precise functioning of various glands, as well as other organs in the body, is the basic concept behind protein therapy, which is conceptually related to gene therapy.
Genetically modified versions of naturally produced human proteins are called therapeutic proteins. They can be utilized to swap out proteins that are defective or lacking in a particular condition. They can also increase the supply of a helpful protein, which helps lessen the effects of chemotherapy or sickness.
The proteins produced by genetic engineering can be made to closely match the natural proteins they are meant to replace, or they can be improved by the addition of sugars and other compounds that prolong the protein’s activity.
A protein that is defective or lacking in a certain condition can be replaced with therapeutic proteins. They can also increase the body’s production of a helpful protein to lessen the effects of illness or chemotherapy. The proteins produced by genetic engineering may closely resemble the natural proteins they are intended to replace, or they may be improved.
Market Growth Factors
An increase in the cases of cancer across the world
One of the major factors that are driving the growth of the protein therapeutics market is the expansion in the prevalence of various types of cancer all over the world. Any disease that can affect any region of the body is referred to as cancer. Neoplasms and malignant tumors are other words that are used to denote this disease.
One characteristic of cancer is the quick development of aberrant cells that expand outside of their normal borders, infiltrate other body components, and eventually move to other organs. This process is known as metastasis. The main reason why cancer patients die is because of widespread metastases within their bodies.
Rising focus of governments and regulatory bodies in accelerating the process of approval for this practice
A significant number of people in various developed, as well as developing nations who suffer from uncommon and complex diseases, depend on plasma-derived therapies every day as essential, life-saving medications. The need for these treatments, in particular immunoglobulins, has grown significantly and is still growing on a global scale.
Plasma-derived therapies are treatments made from human plasma through a fractionation procedure in which the pertinent plasma proteins are isolated. The single largest component of human blood is called plasma, which is made up of proteins, salts, enzymes, and water. Primary and secondary immunodeficiencies, bleeding disorders, inhibitor deficiencies, and other rare diseases are all treated with plasma-derived medicines.
Market Restraining Factors
High manufacturing and administration cost
A major challenge in the growth of the protein therapeutics market is the high cost of protein therapies. Because of high product prices, some therapies that patients need for a speedy and complete recovery are no longer available. In several nations, prices are additionally governed by law. Through their authority over national healthcare organizations, which can cover a significant portion of the cost of distributing drugs to consumers, government bodies restrict costs.
Scope of the Study
Market Segments Covered in the Report:
- Monoclonal Antibodies
- Human Growth Hormone
- Fusion Protein
- Follicle Stimulating Hormone
- Metabolic Disorders
- Immunologic Disorders
- Hematological Disorders
- Hormonal Disorders
- Genetic Disorders
- North America
- Rest of North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Saudi Arabia
- South Africa
- Rest of LAMEA
Key Market Players
List of Companies Profiled in the Report:
- Abbott Laboratories
- Baxter International, Inc.
- Amgen, Inc.
- F. Hoffmann-La Roche Ltd.
- Eli Lilly And Company
- Merck & Co., Inc.
- Johnson & Johnson (Janssen Global Services, LLC)
- Pfizer, Inc.
- Novo Nordisk A/S
- Sanofi S.A.
For more information about this report visit https://www.researchandmarkets.com/r/u82m96
View source version on businesswire.com:https://www.businesswire.com/news/home/20230111005748/en/
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SOURCE: Research and Markets
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PUB: 01/11/2023 11:38 AM/DISC: 01/11/2023 11:38 AM